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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.


{Naijafinix.com}

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