Stake called out in Nigeria for operating without relevant licences

Stake has been added to the ‘blocked list’ register of Lagos, and banned from all 24 states within the Federation of State Gaming Regulators of Nigeria (FSGRN) effective immediately. Blocking orders have been summoned on crypto-native Stake, as its operations targeting Nigeria are deemed illegal by the Lagos State Lotteries and Gaming Authority (LSLGA). The enforcement will further apply a campaign informing Nigerian audiences of Curaçao-licensed Stake as an illegal operator and informing the public to stop engagement with the brand. “Stake has failed to register, declare or remit applicable monthly gaming taxes and levies despite receiving no fewer than 10 formal compliance notices over the past two years,” the LSLGA stated. The declaration of Stake being unlawful from the LSLGA follows a broader push in Nigeria to implement a more significant tightening of laws and restriction on online gambling licences. According to the Blask Index, Nigeria has the second-largest betting market in Africa, behind South Africa, with a Competitive Earnings Baseline (CEB) of $789m. Further data claims that Stake is the 13th largest operator in the country despite lacking the relevant licences. The LSLGA recently implemented a 5% withholding tax (WHT) on gaming winnings, while prominent Nigerian operator Bet9ja was shut down in Enugu following orders of the Enugu High Court. Setback for Stake after recent market launches For Stake’s part, its name and reputation is not exactly an unfamiliar one to regulators around the world. TGP Europe, the white label partner which held its UK licence, was forcibly removed from the jurisdiction in March last year following a series of marketing ploys which did not go down well with the Gambling Commission. The bookmaker still advertises its products on these shores via a sleeve shirt sponsorship deal with Everton FC. It had been the club’s front of shirt sponsor for the four seasons prior to 2026/27. Stake is also under the watchful eye of the Kansspelcommissie (KSC), Belgium’s gambling regulator, after legendary Belgian footballer Eden Hazard became a brand ambassador for the operator despite Stake not having a licence in Belgium. The company’s US arm came under fire due to its relationship with Drake, but recent launches in several countries gave the impression that Stake had turned a corner. It has gained licences in Denmark, Argentina and Mexico in 2026 as it looked like the company was regaining its reputation with regulators around the world. But this declaration from Nigerian authorities suggests that the firm is still operating illegally in markets. The LSLGA’s statement concluded: “Banks, payment service providers, fintech companies, media organisations and digital advertising platforms are also urged to conduct appropriate due diligence and cease facilitating unlicensed gaming activities. “LSLGA and FSGRN remain committed to protecting Nigerian consumers, safeguarding minors, preserving market integrity and ensuring that gaming operators comply fully with applicable State laws and tax obligations.”