Almost everyone has stories of someone who has made or lost tons of money from sports betting. A simple internet search will throw up tons of examples. There is the story of a popular Senior GP in the UK who was jailed three years for stealing £1.1m within a space of 3 weeks due to online gambling addiction. There is a block of four flats, off Ikotun Igando Road, that the rumours indicate was built from the proceed of sports betting success. The stories, whether of gain or pain, are endless.

Experts point to the increase in penetration of mobile telephony, widespread availability of broadband internet and growing global attraction of football leagues in Europe as the principal drivers of the ubiquity and adoption of sports betting across Nigeria. The engagement of popular influencers in sports betting marketing is also a factor here. Despite the deeply religious orientation of the citizens, sports betting has continued to gain ground across the length and breadth of the country.
One of the main dangers of sports betting in Nigeria is the potential for financial losses. Betting in sports involves risking money on the outcome of a game or event, and it is not uncommon for people to lose more money than they can afford. Families have starved, children have had to stop schooling with many homes broken apart because of the financial losses occasioned by sports betting.

Another risk is the potential for addiction. Some people may become so engrossed in sports betting that they neglect their personal and professional responsibilities. It can lead to problems such as neglect of family and work and even criminal activity in some cases. Experts concede that gambling is addictive. Sports betting, in all its forms, is gambling. It follows that sports betting is addictive, contrary to what operators may try to portray.

In addition, the issue of underage gambling through sports betting deserves special attention due to the potential harm it can cause to minors, including addiction. Sadly, today minors can access sports betting facilities without any encumbrance.

It is clear that to truly minimize the risks associated with sports betting in Nigeria, it is important to adopt a holistic approach. Yes, individuals engaging in sports betting must take responsibility for themselves and their families and know to proceed with caution and set limits for themselves. People must set a budget for how much money they are willing to risk, only betting with money that they can afford to lose, and be willing to seek help if they feel that their betting habits are becoming a problem.

But the government must also take a more hands-on role in regulation, granting permits and protecting the citizens from unscrupulous sports betting operators.

Operators, naturally, are quick to point out that sports betting creates jobs. They point to the myriad of betting shop outlets across the country in addition to in-house staff members to prove that they are a viable economic activity. In addition, they pay taxes. Their operations in many instances however may leave much to be desired.

At over $2 billion, the nation’s sports betting industry is today a behemoth. It must however be tamed if the country wishes to harness the benefits. Again, the onus is on the government and the regulator to rein it in before it wrecks the future of the youth.

Consider this, while sports betting is getting more and more popular, the impact on sports development is still largely negligible. We must ask questions. Over the last decade of tremendous growth, how many new sports grounds have been built with funds from sports betting?


https://www.youtube.com/watch?v=43MdkTETPHk

We Nigerians focus on the societal and health hazards of illicit drugs, forgetting that, the most dreadful societal menace in Nigeria today is GAMBLING.

If you talk about those who lost money to betting, it's also important to mention that many have won life-changing sums from it.

They didn't force anyone to bet. I have never played it. So, nobody should be here complaining about it because it's legal.

True..

Sport bet is a scam! I’ve never played it and I’ll never play it..

Those that design the business did it to make money, not for you to make money..

The sport betting spirit be like Banku spirit - it has collected many things from many people..

This story get as e be

There is nothing wrong with sports betting as long as the person is 18 plus

But I think a winnings should be taxed by at least 40% minimum

H

Mayor of Ekiti is laughing at the OP right now.

Is it possible for a business venture\owner that is not a charity organisation to establish a business without the aim of making profits? These betting companies are people's businesses, they must make more from you before u can make some from them. The greedy ones will even be the only winners while you playing the bet will keep hoping you will win one day, a day that may never come . Thank God I only entered a betnaija store to charge my phones when my gen repairer wasn't available to fix my generator

Hmmm waste of money

WHY WON'T WE EXPECT N1000:$1 WHEN BETTING ALONE CAN STEAL $2BILLION AWAY FROM US IN ONE GAME?

Very true!!

After I'd lost 7 good years of my life to sports betting, I finally realized that it's not design to to be won as I thought 🤔. Counting how much I lost will be over 9m+ if not more than because I became addicted to it that no each day I won't stake high to win all I've lost but not to avail. In fact sports betting is an illusion, the more u look the less u see.

The time I realized that I was heading for serious doom was when I became a serious debtor and start having trust issues with my siblings because whenever I'm intrusted with money I'll tell one story or the other, plus I owe here and there and I was becoming insane day by day and looking hagged like I've got no family, it made me a notorious lie, the story long Sha.

But I finally stop it and got rid of it that I hardly think of it again, and even when I think of it I'll shake my head in regrets and disappoinment and would ask myself if na juju do me because it took a lot from me believe me. Though it wasn't easy to stop an addiction, but with personal praying to God direct through Jesus Christ, I was made whole as though I never gambled..

To those who are going through such times, plz stop because no pst, priest or prophet/prophetess that will deliver u, ur deliverance is in ur hands, until u decide to stop in truth and in spirit you'll realize its easy and feel joy, peace and happiness like that of a child.

Just believe u can do it.

Made dem do ban sports betting for naija

Gambling has one bad spirit, once you start betting it will be very hard for you to stop. And Nigerians are extremist, they're really patronizing these gambling outlet.

Betting is a wrong avenue to make money. Know thus and know peace.

The last time I remembered, nobody force anyone to gamble. You will have to use your own legs to walk into the gambling hall to stake your bet.

Bookmakers will kill this thread Asap, I see them calling Seun Osewa to hide this thread Asap.


Gambling is a bottomless pit