Meridianbet Expands B2B Operations into Nigeria's $2 Billion Betting Market

Meridianbet, a subsidiary of Golden Matrix Group, Inc. (NASDAQ: GMGI), has officially launched its B2B operations in Nigeria, one of the largest and fastest-growing betting markets in Africa. The company's entry into Nigeria further strengthens its 20-year presence in Africa, leveraging its proven track record in regulated markets to deliver world-class gaming products. Through its newly licensed local entity, Masterlive Network Limited, Meridianbet has secured full regulatory approval from the Lagos State Lotteries and Gaming Authority (LSLGA), allowing it to operate in both sports betting and online casino verticals under License No: LSLGA/OP/OSB/MB041124.

The official launch of Meridianbet.ng marks a strategic expansion into a market worth over $2 billion, according to the research of Orange Business Intelligence Technology, with over 60 million Nigerians actively participating in betting, contributing to one of the fastest-growing industries on the continent. Zoran Milosevic, CEO of Meridianbet, emphasized that Nigeria presents a major opportunity for their B2B model, committing to bring cutting-edge technology, AI-powered betting solutions, and localized expertise to drive long-term success for partners in the region.

The Nigerian market represents a strategic opportunity for future revenue expansion, aligning with GMGI's global strategy to strengthen its presence in high-growth gaming markets. Golden Matrix Group has provided a preliminary full-year 2024 revenue estimate of $150 million, reflecting the company's continued growth trajectory. According to Orange Business Intelligence Technology (ORBIT), Nigeria's betting industry surpassed $2 billion back in 2020, with projections indicating up to $4.7 billion in annual revenue potential over the next decade.

Football remains the primary driver of market growth, with a vast customer base engaging both online and offline. Meridianbet's B2B model will provide advanced technology solutions, gaming content, and platform services to local operators, offering a scalable and highly adaptable system tailored to the Nigerian market. The company's expansion into Nigeria follows its long-standing success in established African markets, where it has been a dominant player for over two decades, with operations in 18 markets across Europe, Africa, and Latin America.

As part of this rollout, Meridianbet is introducing its proprietary AI Sports Betting Recommender and AI Casino Recommender, delivering personalized betting experiences based on real-time data, player behavior, and predictive analytics. These innovations, already proving successful in multiple markets, will enhance customer engagement, retention, and overall user satisfaction in Nigeria's rapidly evolving gaming landscape. The soft launch of Meridianbet.ng is already delivering positive early results, with strong partner satisfaction and excellent customer feedback, indicating promising market reception for the company's technology-driven approach.