In Oyo, Stakeholders Exchange Opinions on Sustainable Future for Gambling Industry 

Nseobong Okon-Ekong reports that conferees at a recent Stakeholders Interactive Forum organised by the Oyo State Gaming and Lottery Board sought ways to stop the Nigerian gambling industry from devolving into a space where consumer exploitation and societal issues overshadow the benefits of innovation

For six years, the Oyo State Gaming and Lottery Board has organised an annual stakeholder’s Interactive Forum that pools influencers and knowledgeable persons in the industry. Normally held in Ibadan, the state capital, this year, the discourse revolved around ‘Boom or Bust: Balancing Innovation and Consumer Safety in the Gaming Industry’. The major aim of the conference was to highlight significant risks associated with the exponential growth in the gaming and lottery business in recent years to institute proper regulations and safety measures.

Conferees sought ways to stop the Nigerian gambling industry from devolving into a space where consumer exploitation and societal issues overshadow the benefits of innovation. Panellists at the different sessions thoroughly discussed the delicate balance between embracing innovation and ensuring consumer safety, emphasising how a boom could be sustained or turn into a bust due to unbridled enthusiasm. 

Expressing happiness at the turnout of operators and other stakeholders, Director General Oyo State Gaming and Lottery Board, Olajide Boladuro, reeled out a score that includes sustainable collaboration and the creation of a level playing ground for all operators and setting up policies that promote ease of doing business which has led to increasing investor confidence; evident in the increased numbers of licensed operation in Oyo state. He also held up the reduction of underage gaming menace to an all-time low, regulation and digitisation of gaming and lottery agents’ enumeration and registration. Other achievements of the board, as spelt out by Boladuro, include increased stakeholder buy-in for corporate social responsibility partnerships with the Oyo state government and significant growth in IGR through effective regulations and reforms. 

The first panel, which dealt with ‘Innovations in Game Design in Gambling: Opportunities or Threats to the Industry’s Sustainability?’, comprised Gossu Ukanwoke, MD/CEO of Betking, Olabimpe Akingba, Regional Manager, Africa, Mchezo Limited, Ken Nwankwo, Head Human Resources and Administration, Premier Lotto, Mrs. Ibraheem Bukola, Regional Manager, West, Winners Golden Group and Mr. Masade Francis, MD, Velex Advisory. Ukanwoke set the ball rolling with strong advocacy for the progressive advancement that technology has brought to the gambling space. “With tech,” he argued, “you can accomplish in seconds or minutes what it would normally take days to achieve. You can generate adverts with AI, have AI answer your questions and have a better understanding of customer behaviour.”

According to the Betking boss, technology allows operators in the gambling industry to have targeted products for customers, adds more value to the industry and enables the industry to give a lot more back to the community where they do business. 

For Akingba, the application of technology in the gambling space should not be all about making money. The welfare of the punters, she emphasised, should be paramount.

“It must be seen that we care. This shouldn’t be about putting the 18+ sign only. It should be clear to underage gamblers, for instance, that they will lose both their deposit and winnings,” said Akingba. She also mentioned operators have an obligation to make customers aware of changes. She advocates for using tools like self-exclusion and setting time limits for play. A safe place where problem gamblers can get treatment must also be clearly advertised. She said collaboration between operators, regulators and NGOs must be explored to full advantage. 

In adopting any form of technology, Nwankwo said, “We must be mindful of the peculiarities of our society. Societies differ. Each society evolved in its own way.”

To buttress his point, he said while gambling may be a form of entertainment in advanced societies, in Nigeria and many African countries, what attracts punters is the promise to make money by winning.

Masade made no pretences about altruistic intentions by operators. He drew attention to the fact that gambling platforms are majorly created to make money, and since most of them are from abroad, it is difficult to get them to have the interest of vulnerable punters at heart. He said the protection of vulnerable players should be the business of the regulators. According to him, the platforms are built in response to user needs.

The forum also provided a platform for a presentation on ‘Environmental, Social and Governance (ESG) Strategies in the Nigerian Gaming Industry: Advancing Sustainability and Responsible Leadership’ by Mr. Bashir Are, MD/CEO of the Lagos State Lottery and Gaming Authority. He posted that ESG has emerged as a guiding light which can be used to redefine the meaning of gaming. He pointed to examples where operators can impact, such as minimising waste and being responsible for energy consumption. He said the gaming industry serves millions of people every day, making a potential major creator of impact, whether positive or negative, on society. 

In conclusion, the organisers hold the view that the Nigerian gambling industry stands at a crossroads. The promise of innovation offers substantial economic benefits, yet it also brings risks that could undermine these gains if left unchecked. A sustainable future for the industry will require a proactive approach, where innovation is tempered with responsibility, and regulation evolves in tandem with technology.