Obaseki signs new law to regulate lottery, sports betting
Governor Godwin Obaseki has signed a new law to regulate lottery, online sports betting and gaming in Edo State, with a view to restore sanity and rid the sector of fraudulent actors.
The law, known as the Edo State Gaming Law 2020, was passed by the Edo State House of Assembly and consented to by Obaseki. It seeks to regulate lotteries, lotto and online sports betting businesses in Edo State.
Igbinidu Inneh, the executive chairman of Edo State Internal Revenue Service (EIRS), said the Gaming Law of Edo State 2020, which repealed the Bendel State Lotteries Edict 1990, empowers the EIRS to regulate activities and conduct of all stakeholders in the gaming industry, to the extent of granting licenses to gaming operators, agents as well as make regulations.
Inneh said: “The new law will bring value addition to the gaming industry, restore sanity, rid off illegal and fraudulent gaming operators and ultimately improve the standard of gaming activities in Edo State.
“It would be achieved through issuance of licenses to approved gaming operators and agents upon meeting certain requirements, effective monitoring and enforcement as well as sanctions of erring operators where necessary.”
Inneh stated further that the new law was also meant to improve the internally generated revenue (IGR) of the state through the payment of taxes, which will assist the government in the provision and improvement of infrastructure for the people.