How Betcorrect Finds Success in Nigeria's Dynamic Market

When Betcorrect began operating in Nigeria in October 2023, it was a leap of faith that yielded positive returns. The company has experienced massive growth in the Nigerian community within the nine months since it started operations.

Betcorrect prioritises its users, and it was evident in the sponsorship of two bettors to watch the Africa Cup of Nations final in Ivory Coast in January, fully funded.

In an exclusive interview with Sportsboom, Betcorrect's Managing Director, Adriano Amadei, explained that Nigerians’ vast knowledge and the country’s technological development motivated their move.

"Before setting up operations in Nigeria, we recognised the immense potential and size of the Nigerian market. We identified it as a dynamic environment ripe with opportunities for innovative businesses like ours, particularly in the technology sector. Nigeria's growing economy, large population, and increasing adoption of digital technologies made it an attractive destination for us."

Adriano added that the company has been an answer to the long-term quest of the betting community with the introduction of AI technology to predict and suggest betting options for users.

Government policies and business retrospection 

Regarding government policies and business retrospection, Adriano noted that the government's tax policies have been supportive.

"We have found the Nigerian government's taxation policies to be supportive of business growth and development. The National Lottery Regulatory Commission (NLRC) has been particularly commendable in its efforts to establish a robust regulatory framework that fosters a fair and competitive environment in the gaming industry. Their proactive approach to taxation policies has provided clarity and stability, enabling us to navigate the business landscape with confidence."

Despite challenges like fluctuating foreign exchange, Adriano believes the Nigerian market has provided ample opportunities for growth and expansion. 

Creative approach 

Meanwhile, the head of marketing, Wale Adejuwon, attributed the company's success to its creative strategy, which has drawn millions of bettors.

"Our approach has been largely creative-led, using the creative dimension in our content, promotion, brand positioning, and product development. We've identified certain things missing in other brands."

Mr. Adejuwon added that the company keenly offers user-friendly services.

“So we understood that to get users, it means that we have to take away from the existing pool of users from our competitors, and the only way to be able to do that is through the creative approach, making it fun and creating a stronger affinity for us and a better user experience compared to what they are getting from our competitors.”