THE BUSINESS SIDE OF SPORTS IN NIGERIA
Sports is one of the biggest tools of entertainment in the world today with each kind of sporting event having its own huge following. Sports commands the attention of billions of people all over the world all through the year whether it is football, tennis, cricket, rugby, or other sporting events too numerous to mention.
However, sports is not just a form of entertainment in our world today, rather it is a combination of entertainment and business. All over the world, sports in whatever form is a huge revenue generating source and employment creating industry. Financial exposure in football alone runs into billions of dollars annually on a global scale. For example, a whooping sum of about $48.5 billion was spent on players transfer in the last 10 years according to FIFA, $3.5 billion was paid in agent fee. According to statista.com, global sports sponsorship in 2020 was $59 billion.
In Nigeria, the potentials inherent in the industry is yet to be fully harnessed due to under-development, but the private sector is beginning to cash in on the enormous possibilities offered by the industry. Since the introduction of Sports Betting in Nigeria, the business side of sports has become pronounced as business minded individuals are now making a living on sports.According to statista.com, global sports betting market stood at $203 billion in 2020, while most research put Nigeria’s sport betting market value at about $2 billion.
Not only are organisations springing up with license to operate sports betting companies which creates employment for many young Nigerians, there is also the expanded business opportunities created through betting agency.
Hardly will you go to any community in Nigeria without seeing a bet agent operating in one form or the other. To highlight the potential for business in the industry, BetKing, one of the leading brand in sport betting business in Nigeria has continually given opportunity to businessmen and women to join the train through www.betkingagency.com.
To become a BetKing agent, individuals can apply through the agency website www.betkingagency.com and just enjoy a seamless process of getting integrated into the betting business.
According to Mr. Bello Adeniyi, a master agent with the bookmaker brand, BetKing is positioned to help business men and women who are looking to join the betting agency business succeed through mentoring and a support structure second to none in the industry.
He explained that all that is needed to become an agent is a passion and commitment to succeed with a starting capital as low as N25,000. While the brand will give the agent free equipment and starters pack. He further explained that the business has a zero risk level with a 30% commission incentive for agents and a chance to earn weekly and monthly bonus.
Agents are encouraged as the betting platform attracts bettors to their businesses because of the bran’s competitive odds on sports and virtual games, prompt payments within 24 hours, highest selection on a single ticket of up to 40 games, and up to 225% multiplier bonus on online games.
So while sports retains its entertainment value, it has definitely become a commercial imperative for the world’s economy, as many businesses are attached to it. Sports in a commercial sense is sustaining many lives and empowering many more to dream of a better future.