Stake ban in Nigeria caps two years of regulatory trouble for the crypto bookmaker

Nigerian gaming regulators have banned the crypto bookmaker Stake across all 24 states in the Federation of State Gaming Regulators of Nigeria (FSGRN), effective immediately, after the company allegedly failed to register, declare or remit monthly gaming taxes for two years.

The Lagos State Lotteries and Gaming Authority (LSLGA) issued blocking orders against Stake on or before 10 September 2026 and added the operator to Lagos’ blocked list. The regulator said Stake’s operations targeting Nigeria are illegal because the company holds a Curaçao licence rather than a Nigerian one.

The LSLGA said Stake “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”. A public campaign will tell Nigerians the Curaçao-licensed operator is illegal and ask the public to stop engaging with the brand.

Pressure on banks and ad platforms

The enforcement goes beyond blocking. The LSLGA urged banks, payment service providers, fintech companies, media organisations and digital advertising platforms to conduct due diligence and stop handling payments for unlicensed gaming activities. It said the regulator and the FSGRN remain committed to protecting consumers, safeguarding minors and ensuring operators comply with state laws and tax obligations.

A tightrope for Stake

The ban lands on a company that has been steadying itself after earlier run-ins with regulators. TGP Europe, the white label partner that held Stake’s UK licence, was forced out of the UK in March 2025 after marketing campaigns drew action from the Gambling Commission. Belgium’s Kansspelcommissie (KSC) is scrutinising Stake after former footballer Eden Hazard became a brand ambassador even though the operator holds no Belgian licence. Stake’s US arm previously drew criticism over its relationship with the musician Drake.

Those troubles sit against a strong 2026: Stake gained licences in Denmark, Argentina and Mexico this year as it worked to rebuild its standing with regulators. Nigeria has now handed it a fresh setback in one of Africa’s biggest betting markets. Lagos recently introduced a 5% withholding tax on gaming winnings, part of a wider push by Nigerian regulators to collect from the sector.

Stake has not publicly responded to the Nigerian ban.

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