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The Truth About Sports Betting - Sports - Nairaland

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The Truth About Sports Betting by Chizzled06(m): 9:14pm On Oct 23, 2015
Now I know you don't have time for long stories, so I'll make this as short as I can, while trying to capture as many points as possible.

Firstly, this is not religious or philosophical, it's just an attempt to pass across some information that most people that delve into the world of sports betting don't realise until it is too late.

Sports betting in Nigeria has been booming exponentially since it was legalized. Unfortunately, there's no regulatory commission (none that I know of) which means the general public (especially young and uneducated ones) are at great risk.

A lot of Nigerians are vivid sport watchers. Especially football. The records of past sporting results, current player forms and team tactics, give sports followers the impression that their 'knowledge' can be turned into a source of income (a concept unfortunately preyed-upon by betting companies). 

However there's a BIG difference between analysing past football matches and predicting results of future ones. Even the 'professional punters' that work for TV and news companies have a dismal record at attempting to predict results. Football is a largely unpredictable game, that's why it's fun to watch.

Here are a few tips that I hope you might learn from;

- Yes, Sports betting can be a source of income FOR THE BETTING COMPANIES.

 It is a business. A multi-BILLION Nigeria business. Everyday in my area, a new betting shop pops up. You think these guys would be opening more branches if they were losing money? Yes, you heard about the guy that won 2million naira. Did they tell you how much others (or even the winner himself) have lost? No matter how much they pay out weekly, it can never compare to their profits. It's a math based concept that is used to set the odds, ensuring they ALWAYS make a profit on every single game.

- If you haven't started betting yet, DO NOT START.

Here's how the psychology works (when you're in it to make money); 
If you win your first bet, you come back to make more and more, till you start to lose and you eventually end up in the negative. 
If you lose, you will come back with more money to get back what you lost. This is called "Chasing Losses" The cycle continues until you're bankrupt. 

-It usually starts from little 'harmless' amounts, then ends up in big money stakes that can ruin your life, if and when things go wrong.


If you're thinking about making a big bet to get some quick income (I've heard of people betting their tuition, house rent, borrowed money etc) please don't do it. You will regret it.

If you're addicted already or you know someone who is, the first step is to let go of all that you've lost. It's gone. You're never getting it back. Focus on productive ways to try to make a living in this harsh economy. I would advice you seek counselling help, but it's difficult to find genuine, nonjudgemental support amidst our hypocritical culture. I wish you the best.

Sports betting is meant for fun. It can add some thrill to watching an otherwise meaningless sporting event. It's meant as a source of entertainment. Not as a means to earn a living.

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Re: The Truth About Sports Betting by SeverusSnape(m): 9:39pm On Oct 23, 2015
This is a wonderful post. I felt so happy reading it, In fact, this betting of a thing is becoming a menace, Every where you go, you see vibrant youths engaging in this act; If you talk to them, they will say it's a "youth empowerment scheme" undecided .

Any time guys converge these days, they talk only about betting and football, nothing informative nor educative.

The youths must make themselves useful to the society, This betting of a thing is very addictive.
I'll be glad if this makes Front page because I know most Nairaland guys engage in such.

Lalasticlala yi hakuri
Obinoscopy biko

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Re: The Truth About Sports Betting by sammyomal(m): 9:58pm On Oct 23, 2015
my goodness @op u wont believe i was just being coached yesterday by a friend on how to bet, though am not a fan of football but i thought it wont be a bad idea to indulge in it.
but with this post, i put a big full stop to it.
Re: The Truth About Sports Betting by Chasicolis(m): 2:33am On Oct 24, 2015
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Re: The Truth About Sports Betting by Chizzled06(m): 8:17pm On Oct 28, 2015
sammyomal:
my goodness @op u wont believe i was just being coached yesterday by a friend on how to bet, though am not a fan of football but i thought it wont be a bad idea to indulge in it.
but with this post, i put a big full stop to it.

Sad that many people don't have access to the right information before engaging in this addictive vice.

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