What makes iLOT BET stand out, company's plans for the future - Managing Director

Managing Director of iLOT Bet, the betting company that launched in Nigeria in 2020, Uma Ntima has expressed belief that the company's integrity will ensure that it becomes one of the top five betting and lottery companies in the country. 

Ntima made this assertion as the company organized its end-of-year party in Lagos to reward the company's loyal customers who have stood by them through the years of its operation thus far. 

Abuja-based Umar Ibrahim won the Company's World Cup Promo Predict-and-Win star prize of a Toyota Corolla 2021 model car. 

An elated Ibrahim who admitted that he initially had doubts about the genuineness of the promo was handed the keys and documents to the car by iLOT's Managing Director and representatives of the Federal Competition and Consumer Protection Commission and the National Lottery Regularly Commission in attendance. 

There were also lots of gifts won at the raffle draw by some lucky attendees including iPhones, Oraimo Earbuds, Techno Spark 8 phones and power banks. 

Ace Nollywood actor Niyi Johnson was Master of Ceremony at the event held at the Sheraton Hotels and Suites, Ikeja, Lagos.

Below are the Managing Director's responses to questions on the rise to prominence by the company. 

On Getting Relevant Licenses, Approvals 

iLOT has made sure that every step we take is within the parameters of the law. We've obtained all the relevant licenses. 

You have heard the Federal Competition and Consumer Protection Commission and the National Lottery Regulatory Commission (NLRC) speak about their approvals. 

We have obtained the licenses to operate throughout the country. Within iLOT, there's also the issue of integrity which we hold sacred. 

You've seen what we did. Most of the winners were not expecting their prizes an even after winning, initially they didn't believe that it's real but I'm sure right now, everybody knows that iLOT operates on integrity and character. 

That's what stands us out. 

How The Idea Of iLOT Birthed
 

First my name is Uma Ntima. I'm the Managing Director of iLOT. The idea came sometime in the year 2020 during the Covid-19 lockdown. 

Apart from the general unemployment and situation in the country then, we discovered that so many people could not go out to do a lot of things - so one is locked up at home in hunger and other challenges. 

During the Covid days, we discovered that in terms of business, some people need to do a lot of things so we decided to reach out to them online. People needed to partake in business and earn an income. 

That's why for now, we've remained online so that the idea of reaching out to people will be there. After sometime, we will start thinking of going offline. 

Challenges Of Establishing iLOT Betting Company

The challenges were enormous and are still there. The truth is that to advertise online is not easy and it's capital intensive. 

Secondly, the kind of venture we are into is one that within the Nigerian context people ask: "is it real"?  Even things that are mostly straight forward and genuine are doubted not to talk about this kind of business. 

Basically, we have faced challenges of capital (cash) and reach because we pay a lot to be ae to advertise on a lot of platforms. 

There's also the challenge of perception.but in terms of perception, it's gradually changing because a, lot of people have come to realize that the lottery and betting industry are here to stay.

The truth is that when you go to advanced countries like China and the USA - even in Europe - you discover that the idea of lottery and betting are actually used to raise welfare funds to target so many developmental projects. 

However, in this part of the divide, we don't see things that way but I believe that even the government will begin to streamline it so that we begin to see betting and lottery as a big source of welfare and funding. 

Projection Into the Next 5 Years

Truth be told, we have made progress so far. In the next five years, we plan to be at least in the top five betting companies in Nigeria. 

Izuchukwu Michael