• Friday, June 14, 2024
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Pool betting operators in Rivers demand for industry regulation

Pool betting operators in Rivers demand for industry regulation

Stakeholders in the pool betting sub-sector of the economy in Rivers State have appealed to the State Government to set up a pool betting board to regulate pool betting activities in the State

This is as they attributed lack of technology and government inability to regulate pool business as major challenges faced by the business in the State

The stakeholders made the assertions at the 2022 end of year party and get-together of Rivers Pool Association, held in Port Harcourt, the Rivers State capital.

Emeka Iwezor, chairman of the occasion stated that the use of technology by other betting platforms,. like Naira Bet, Bet Naija and others have made the pool business to be on the decline in recent times, because it is done manually.

Read also: Nigerians turn to sports betting, loans as cost of living crisis worsens

He however noted that with the introduction of technology by other competitors, many people have joined technology based platforms that use mobile phones.

He advised members to Introduce information and communication technology (ICT) into their business in order to compete favourably.

This is as he also advised the public to encourage the business, stating that pool business is not a scam.

Meanwhile, Emmanuel Odunze, chairman, Rivers Pool Association, observed that pool business is not doing well in the State, because of lack of regulation by the government.

Hevcalled on the State Government to come to their aid, stating that pool business is legal, creates jobs and generates revenue to government, through taxes.

According to Odunze, apart from taxes that we pay to the government, the pool sector in Rivers employs more than 20,000 people.

He appealed to the state govenor to regulate the pool industry, by establishing a