Nigerians Spend N730 Billion On Sports Betting Annually - |Ads4naira Blog|

Nigerians Spend N730 Billion On Sports Betting Annually

Nigerians spend over 730 billion Naira annually on
sports betting and at least two billion naira is
generated daily, recent research data shows.
Data also revealed that over 60 million Nigerian
punters spend over 3, 000 naira daily placing bet
stakes. At least there are 50 betting sites in
Nigeria with the number growing annually.
Respondents, who spoke with the News Agency of
Nigeria (NAN) on Sunday, said they placed bets
to generate quick and easy income, and turn their
passion for football into cash.
28-year-old Fashion designer, Segun Mukoro who
bets at least once weekly said that it was the
fastest way to double his income and although he
might lose sometimes, the wins come big.
He said, “Yes I bet and I do so weekly, especially
when there is a league playing. When you have
been betting for long, it’s easier to know what
odds to play and what teams to bet on.
“It is a guessing game and you get better with
time. I know that it is addictive but I see it as an
investment, a way to double my income,” Mukoro
said.
Similarly, 23-year-old Eronini Kolapo explained
that he used betting to augment his allowance as
a student. He told newsmen that he started for
fun, at first but soon built a network from it.
Kolapo’s almost-perfect predictions made him a
leader of his sport betting ring where his peers
pay him extra to place ‘sure’ bets for them.
His model is not strange as website and online
channels where predictions are sold to help
punters maximise betting stakes, populate social
media.
However, there are tons of fraudulent platforms.
30-year-old Noble Obioria sold his agro-business
and combined the proceeds with his savings to
purchase predictions from a fraudulent channel
that swindled him.
He spent almost one million naira trying to place
a ‘sure’ stake with hope of making over ten
million naira in return.
He told newsmen that losing all his money helped
him realise how addicted he was to betting and
how much he had given to the greed and
dissatisfaction that came with regular betting.
Obioria also agreed with respondents who said
that the presence of betting sites and platforms
online made it too easy and fuelled the desire to
place stakes.
Research statistics show that over 14 million bet
stakes and payments are made over the internet
every day. This, however, does not affect the rate
of teeming punters at offline, physical shops.
A betting shop attendant, Niyi Adejujagbe said
that he gets at least 500 stakes placed in his
shop daily, adding that he has a crowd of punters
as early as 9 am.
He said, “People place bets here every day. They
still use shops very well because some don’t
know how to use the websites and other people
like to see their paper bet slips.”
NAN reports that in five betting shops visited,
there were only two women placing bets each a
part of two male-dominated groups.
Jennifer Olisa said she enjoyed the process as
she loved football and wanted to make money
from it.
On the low participation of women in betting, she
said women try to be more careful, especially
with money.
She added that she took the risks to bet as her
prediction most times, worked. However, she gets
help from her male friends who had been betting
for longer.
A psychologist, Dr Aimua Cole said that betting
and gambling had high tendency to lead to
depression in addicts, adding that it takes a toll
on victim’s mental health.
She said, “Gambling addiction could lead to other
serious effects, including loss of jobs, failed
relationships, and severe debt.
“Problem gambling is often associated with
mental health problems, including depression,
anxiety, and mood disorders.”
She also decried the high advertising rates of
betting sites glamourized the habit, leading more
young people to indulge in the addictive act.
NAN also reports that leading betting platform
Bet9ja took its advertising a notch higher by
sponsoring the ongoing Big Brother Naija reality
show.
This fourth season tagged ‘Pepper Dem’ designs
games where housemates win Bet9ja coins with
which they can purchase favours.
Meanwhile, outside the house, fans are
encouraged to place bets using the links of the 25
housemates that were introduced into the show
to support their favourite housemates.

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