Stage 1: Application requirement
Applicants must submit a proposal to the National Lottery Regulatory Commission (‘The Commission”) with the following information/ documents.
- A duly completed application form
- An application letter stating the intention of the applicant
- Non-refundable Application and Processing fee of N2,000,000.00 (Two Million Naira) payable to the Commission
General Business Information
- Incorporation documents: Certificate, MEMART and Application Form 1.1 (or Form CAC2 and CAC7)
- Applicant’s Company must have a Minimum share capital of N30,000,000.00 (Thirty Million Naira)
- Evidence of filing annual returns to date with Corporate Affairs Commission
- Profile of the Company and each of its Directors with copies of valid Identification
- Address of administrative office and locations across Nigeria
- Evidence of Domain name registration with (.ng)
- Proposed Brand: Evidence of registration with Ministry Of Trade and Investment, Trade name, logo and colours
- Evidence of registration with the Special Control Unit on Money Laundering (SCUML).
- Name and profiles of all Directors and Key Personnel including Company Secretary, Compliance Officer, Accountant, ICT Manager, Operations Manager, Agency Manager(s) and Customer Care Manager
- Qualification and relevant gaming industry experience of Directors or Key Personnel
- Evidence of tax payment by Directors and Key Management Staff for the preceding year
- Copy of Organogram and Proposed Organizational Structure
- Details of planned game events (live betting, sportsbook, virtual games and so on) and comprehensive modalities for each of the game events
- Proposed distribution channels: retail, web-based, SMS, Mobile app or other channels
- Operations, Marketing and Distribution Strategy showing expansion plans across Nigeria
- Betting modalities, Terms & Conditions of participation and game rules
- A Sports betting industry analysis including SWOT analysis and competitive advantage of the proposed sports betting scheme.
- The proposed investment in the sports betting scheme
- Source of funding and financing plans: equity, foreign investment, loans and applicable terms of investment
- Evidence of financial capability to fund the operation of a sports betting scheme including Company’s Bank Statement of the last 2 (Two) years
- Five (5) Year financial projection for the betting scheme: profit and loss account showing investment, sales/income, winnings/ prize money, tax obligation, operating expenses, third-party suppliers etc
- Details of payment solution provider, proposed integration plan with such providers and a service agreement with a provider.
Profile of technical service providers, partners, telecoms providers and suppliers.
- (i) Web developer
- (ii) Odds providers
- (iii) Virtual providers (if applicable)
- (iv) Hosting provider (self-hosting or cloud hosting), database/ back up service provider
- (v) Manufacturer of hardware: servers, decoders & terminals
- Details of contact persons for service providers
- Proposed SLA, Partnership/ Joint Venture agreements with providers and suppliers. All third-party Agreements/Contracts will be subject to the Commissions approval
- Software: details of operating system and database application specification
- Security system: provide information on types of servers, cloud, firewalls, routers and security features, redundancy implementation (where applicable)
- Documentation on processes and system quality assurance
- Architectural representation of technical operation flow for the proposed sports betting scheme
- Software Certification from approved and recognized testing labs.
Note: At the end of this application process, applicants will be required to make a presentation to the Commission. Application review takes 10 working days.
Stage 2: Provisional Approval
The provisional approval is subject to demonstration of operational capacity and fulfilment of the following conditions:
- Payment of Permit Fees
- Bank guarantee of at least ₦ 25,000,000 (Twenty-Five) Million Naira Only, not less than 1-year validity.
- Evidence of Trademark registration with Federal Ministry of Trade and Investment.
- Inspection of your technical and operational facilities including administrative office and data center(s).
- Connection to the Commissions monitoring and reporting platform
- Website advert materials in hard and soft copy including a picture frame of your trade name/logo (Frame Size 16/12).
- Companies with foreign ownership and Directors will be required to provide: a business quota of the applicant’s company; Residence/work permit issued by the Nigerian Immigration Service
- Investment certificate from Nigerian Investment Promotions Commission (NIPC)
- Execution of Terms & Conditions of operation of Sports Betting.
- Copies of duly executed service level agreement with third-party providers
- Signed undertaking from all technical providers
Note: A substantive permit will be issued at the expiration of the provisional approval period. Non-fulfilment of the above conditions within the stipulated 90 days will void your application for sports betting Permit.
Stage 3: Post-licensing
- Permit holders are required to pay 3% Gross on monthly sales turnover to the National Lottery Regulatory Commission(1%) and National Lottery Trust Fund(2%) not later than the 10th day of the succeeding month.
- Operators must submit Monthly report in the approved format on or before the 10th day of the succeeding month
- The Commission will conduct a system audit on a quarterly basis
- The Commission will conduct a quarterly stakeholder’s interactive meeting