I was in Johannesburg recently, speaking to one of the largest retail real gaming operators in SA. The most interesting nugget from our discussions was when they were telling me about how their best customers are Nigerians. I was pretty surprised. In Johannesburg? Where I am sure Nigerians represent <1% of the population. Nigerians at the edge of risk were there. He was explaining to me that in many of their main shops, there were Nigerians who bet aggressively and in huge volumes to eke out small margins but positive returns. It wasn't for fun. It was purely for ROI. They were focused on the outcomes and ready and willing to wager hard for that 2-5% margin. Nigeria is arguably the largest sports betting market in Africa. That's not by accident. x10ing mentality in pure play. Later that day, I was speaking to Mrs Njoku and she wasn't surprised at all. Nigerians have a massive appetite for risk. Massive. Totally out of sync with any other country in Africa. So anything where t...
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