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Nigerian regulators ban crypto betting giant Stake over missing licences

Nigerian authorities have banned the major online betting operator Stake from Lagos and 24 other states for operating without the necessary licences.

Written by the BettingEdgeHub desk, 10 September 2026

The Lagos State Lotteries and Gaming Authority has added Stake to its blocked list and banned the brand from 24 states. Regulators took action because the crypto native operator has been targeting Nigerian players without a local licence. Officials stated that the company ignored at least 10 formal compliance notices over the last two years. The firm also failed to declare or pay its monthly gaming taxes and levies.

Regulators crack down on betting

This ban is part of a wider effort by Nigerian authorities to tighten online gambling laws and restrict unlicensed operators. Nigeria represents the second largest betting market in Africa with a competitive earnings baseline of 789 million dollars. Stake had grown to become the 13th largest operator in the country despite its lack of legal status. Local authorities are now warning banks and payment processors to stop facilitating transactions for the brand.

Global licensing issues continue

The brand is already familiar with regulatory scrutiny in several other major global markets. Its former UK white label partner was removed from the British market last year following controversial marketing schemes. However, the bookmaker still advertises to British fans through a sleeve sponsorship deal with Everton FC. The company also faces scrutiny in Belgium after hiring former football star Eden Hazard as an ambassador without holding a local licence.

While the operator recently secured official licences in Denmark, Argentina and Mexico, this latest African ban presents a major setback. In the United States, its relationship with the musician Drake has also drawn negative attention from critics. Nigerian regulators remain committed to protecting consumers and ensuring all active operators pay their taxes. Bettors in the region will now have to find alternative platforms as payment methods are blocked.