₦airaland Forum

Welcome, Guest: Join Nairaland / LOGIN! / Trending / Recent / New
Stats: 2,319,011 members, 5,113,491 topics. Date: Saturday, 24 August 2019 at 07:59 AM

Nigerians Spend N730 Billion On Sports Betting Annually - Nairaland / General - Nairaland

Nairaland Forum / Nairaland / General / Nigerians Spend N730 Billion On Sports Betting Annually (24120 Views)

Nigerians Spend More Time On Bet9ja Than Any Other Site Daily (2017 Ranking) / Top 10 Things Nigerians Spend Their Money On / How To Make Money On Sports Betting. (2) (3) (4)

(1) (2) (3) (4) (5) (Reply) (Go Down)

Nigerians Spend N730 Billion On Sports Betting Annually by Aonkuuse(m): 7:25pm On Aug 12
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.

Source: https://www.today.ng/technology/nigerians-spend-n730-billion-sports-betting-annually-241934/amp

5 Likes 2 Shares

Re: Nigerians Spend N730 Billion On Sports Betting Annually by Alwaysking: 7:49pm On Aug 12
Gamblers

5 Likes 1 Share

Re: Nigerians Spend N730 Billion On Sports Betting Annually by Nostradamus: 7:50pm On Aug 12
Hehe

Everybody wants the money,alabi is also trying to squeeze more from the punters!!

Check my signature to strike alabi very hard.

3 Likes

Re: Nigerians Spend N730 Billion On Sports Betting Annually by wwwtortoise(m): 9:49pm On Aug 12
grin

Alabi boys contributing to the growth of our national GDP.

Let's gather here to celebrate the recognition our betting loyalty has brought us. Please if you find yourself in any of these categories, kindly use the exit door
- those whose tickets are longer than tissue papers grin

- the 'aaahh! na only one cut am' cheesy

- those that use #100 to pursue 4million shocked ( you need the fear of God and not the money)

90 Likes 11 Shares

Re: Nigerians Spend N730 Billion On Sports Betting Annually by Criticaltemp: 9:49pm On Aug 12
Legendary... Betting is evil.. It leads to serious depression.. I can vividly remember a friend of mine back in school who committed suicide just because he lost a lot of money to betting..now he is rotting in d grave..

73 Likes 9 Shares

Re: Nigerians Spend N730 Billion On Sports Betting Annually by Mrshape: 9:49pm On Aug 12
It is more than that amount
The ratio of bet outlets to provision shope will be close to 1:10
We are not puting into consideration the number of people that bet online.
And the rate of patronage in a bet store us even higher than a provision/foodstuffs shope.
This shows that in Nigeria people bet more than they feed.
By my rough estimate that amount is an understatement.

41 Likes 7 Shares

Re: Nigerians Spend N730 Billion On Sports Betting Annually by nNEOo(m): 9:49pm On Aug 12
My money is there grin

27 Likes 2 Shares

Re: Nigerians Spend N730 Billion On Sports Betting Annually by Felixalex(m): 9:49pm On Aug 12
Good

1 Like 2 Shares

Re: Nigerians Spend N730 Billion On Sports Betting Annually by Philantropists: 9:50pm On Aug 12
very good.

1 Like

Re: Nigerians Spend N730 Billion On Sports Betting Annually by Ikpeazukerosene: 9:50pm On Aug 12
30-year-old Noble Obiora sold his agro-business and combined the proceeds with his savings to purchase predictions from a fraudulent channel that swindled him.

This mumu close shop use everything bet.

Reminds me of those people who gave a Cameroonian pickpocket all their votes.

49 Likes 3 Shares

Re: Nigerians Spend N730 Billion On Sports Betting Annually by Injiggerwolf(m): 9:50pm On Aug 12
Because by luck....it's rewarding

3 Likes

Re: Nigerians Spend N730 Billion On Sports Betting Annually by davodyguy: 9:50pm On Aug 12
Alwaysking:
Gamblers
betnaija is sponsoring BBnaija grin They have a way of doing CSR

8 Likes

Re: Nigerians Spend N730 Billion On Sports Betting Annually by lifezone247(m): 9:50pm On Aug 12
Over or under 2.5 you mean.
Re: Nigerians Spend N730 Billion On Sports Betting Annually by KolapoYusuf: 9:50pm On Aug 12
[img][/img]
Re: Nigerians Spend N730 Billion On Sports Betting Annually by zmanto(m): 9:51pm On Aug 12
angry only
Re: Nigerians Spend N730 Billion On Sports Betting Annually by Coenvict: 9:51pm On Aug 12
its more than that
Re: Nigerians Spend N730 Billion On Sports Betting Annually by Plano: 9:51pm On Aug 12
Alright


Do like what I attached below?
Want one?

Click on my signature to What-sapp me to get yours below grin

Re: Nigerians Spend N730 Billion On Sports Betting Annually by techwahala: 9:51pm On Aug 12
cry

money that i have spent on bets could buy me land

18 Likes 1 Share

Re: Nigerians Spend N730 Billion On Sports Betting Annually by safindakas(m): 9:52pm On Aug 12
and hw much did d bet company pay out annually let us knw der interest.

2 Likes 1 Share

Re: Nigerians Spend N730 Billion On Sports Betting Annually by millionboi2: 9:52pm On Aug 12
Betting is not a game of luck as most us assume.

1 Like 1 Share

Re: Nigerians Spend N730 Billion On Sports Betting Annually by Fxwarrior: 9:52pm On Aug 12
grin. Carry Man city win and nack it #1 million, omo na #300 k profit o. Oil money.

19 Likes

Re: Nigerians Spend N730 Billion On Sports Betting Annually by lexyman(m): 9:52pm On Aug 12
the Gamblers tag betting a religion ... cos it put hopes in many mind . i feel for our youth

7 Likes 1 Share

Re: Nigerians Spend N730 Billion On Sports Betting Annually by Jackofalltrade: 9:52pm On Aug 12
grin
Re: Nigerians Spend N730 Billion On Sports Betting Annually by Miracle4Sure: 9:53pm On Aug 12
Quick money syndrome everywhere

6 Likes

Re: Nigerians Spend N730 Billion On Sports Betting Annually by Ikpeazukerosene: 9:53pm On Aug 12
davodyguy:
betnaija is sponsoring BBnaija grin They have a way of doing CSR
sponsoring with 1 billion Naira

2 Likes 1 Share

Re: Nigerians Spend N730 Billion On Sports Betting Annually by Ikpeazukerosene: 9:53pm On Aug 12
techwahala:
cry
money that i have spent on bets could buy me land

Next time you want to bet, have the numbers written down in a piece of paper but don't play it.

After the game, you'll see that the numbers are useless but you won't lose your money.

29 Likes 2 Shares

Re: Nigerians Spend N730 Billion On Sports Betting Annually by UdemeJoshua(m): 9:54pm On Aug 12
Full time job to some youth.
Re: Nigerians Spend N730 Billion On Sports Betting Annually by Tajbol4splend(m): 9:54pm On Aug 12
Which angle you no go find bet9ja shop now

4 Likes 1 Share

(1) (2) (3) (4) (5) (Reply)

7-Year-Old Boy Electrocuted In Benin (Photos, Video) / Boko Haram Pesticide In The Market / Opinion: 6 Advantages Of Corruption

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (0) (1) (2) (3) (4) (5) (6) (7) (8) (9)

Nairaland - Copyright © 2005 - 2019 Oluwaseun Osewa. All rights reserved. See How To Advertise. 97
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.