Sports betting is transforming the way
and manner Nigerians watch football. The phenomenon has both economic benefits and social consequences as SAMSON BENJAMIN has pointed out in this report
Few years ago, Nigerians only watched football matches of the English Premier League, Spanish Laliga, Italian Serie A, German Budesliga, UEFA Champions League and other top European Football Leagues for their love and passion for the game. But in recent years, the trend has changed dramatically.
Most Nigerians, especially the youth, now watch football matches not for the fun of it alone but for the financial reward they hope to get from betting.
In Nigeria today, one of the fastest growing businesses is the sport betting industry. They spring up everywhere at both in rural and urban areas, with different names and catchy phrases, all aimed at enticing and luring customers. Interestingly, this new found craze transcends class, age and religion; as both the rich and poor; young and old; Christians and Muslims engage in football betting; even though both religions condemn it.
Sport betting simply put, is the activity of predicting sports result and placing a stake on the outcome with the hope of winning prize money off it. In Nigeria, Sport betting is regulated by the National Lottery Regulatory Commission (NLRC), which is empowered by the National Lottery ACT of 2005 to regulate betting in Nigeria.
Although legalized, the number of Nigerians and the humongous amount of money spent on sport betting is staggering; and indeed a source of concern. In 2016, it was estimated by NLRC, that Nigerians spent an average of N154 billion daily on betting.
Presently, there are over 7.5 million lottery, and 22 million sport betting players in the country.
Similarly, according to report, about 60 million Nigerians between the ages of 14 and 40, spend up to N1.8 billion on sports betting daily with an average investment of N3, 000 naira per day. The large number of bettors can be attributed to the introduction of computer technology and mobile phones applications introduced by sport bookmakers, which make it easier, trendy and in some way guarantees the anonymity of bettors.
Also, the high rate of unemployment and the difficult economic climate have led to a surge in the number of Nigerians who turn to betting either as a means of livelihood or to supplement their incomes.
Kenneth, a regular sport bettor said categorically that he lives off betting due to his inability to secure a well paying job. “I stake between N2,000 to N5,000 weekly, I cannot remember the exact number times I have won. Sometimes I win, sometimes I don’t win. I have won N14, 000, N38, 000 and the highest I have won was N113 000”, he told Blueprint Weekend.
As expected, betting is not always a success story . Joseph, a regular and addicted bettor, who is a barber in Kubwa, a suburb of Abuja, lamented his inability to win often, in spite of his consistency in betting. According to him, “I bet a minimum of N2,000 naira weekly on major European and Champions Leagues but I have won only once. Sometimes, I get all the predictions correctly; but only one match will “cut” my ticket. I have lost a lot of money from betting”. He advised those who do not engage in sport betting not to be attracted to it because of its addictive nature. “Once you start, it is difficult to stop. Sometimes, I use my last money to play”, Joseph confessed with so much frustration and anger.
Most of the Sport bookmakers accept as low N50 or N100 naira as stake, thereby making it possible for them to attract the bulging youth population and ever increasing football fans in Nigeria, some of whom can spend their last cash on football betting.
Ajayi, an operator of one of the sports betting centres who has been in the business since 2013, admitted that it is purely a game of chance. He said “some people play with as high as N20, 000 and win nothing; while others play with N200 or even less and win big”.
In this hard economic times, it is worrisome that able bodied Nigerians invest their hard earned resources, time, energy and emotions in a venture that is characterized by chance and so much uncertainty. More so, it is also difficult to understand how a group of people will see trial and error approach as a veritable tool to make sincere cash.
Patrick Audu, a psychologist attributed it to the quest to make quick money, greed and sometimes laziness. He said “football betting has eaten deep into our society because it promotes greed, laziness and get rich by all means syndrome amongst our youth; it has led to so many social vices like addiction, frustration, anger, family conflicts, poverty, health issues and even suicide”.
In the same vein, Mr Ejembi, a social commentator and a blogger warned Nigerians not to be “deceived by the occasional winning by bettors because it is a pinch compared to the large army of losers”. According to him, the business owners take advantage of the naivety and addiction of gamblers.
Besides, most gamblers suffer from high blood pressure because of the anxiety and fear that is associated with betting. For those bold enough to watch the matches they place their bet on, the fear of losing and the eagerness to always win could be a precursor to health challenges like high blood pressure.
However, it is worth noting that most sport bookmakers in Nigeria offer timely redemption to winners. In most cases they receive their reward or have their account credited immediately after the match; at most 48 hours after the game. But there are complaints about fake football betting centres / mobile applications, and bettor’s accounts not being credited after winning.
To address these concerns, the Diretor General of (NLRC), Mr Adolphus Ekpe told the News Agency of Nigeria (NAN), that there are laws guiding sports betting in Nigeria and those laws must be adhered to strictly by all operators. “We have given notice to all those who have been carrying out these activities that please come and regularize and subject yourself to regulations, so that you will do it in a transparent way and be accountable to the country. That is what we are working on now. We have identified them; some of them have even applied”, he said.
Also, the commission had created an in-house platform called the National Lottery Regulatory STRAMAP-SMS Transaction Monitoring and Archival Platform which will be used to monitor the activities of lottery operators.
The Director General further said the commission is working closely with Economic and Financial Crimes Commission (EFCC) and other law enforcement agencies to ensure total compliance with the rules and regulations of lottery in Nigeria.
In spite of their negative impacts on society, Lottery and other gaming outfits have opened up businesses and employment opportunities, especially for youths. Some of them have opened up shops as agents, while some are employed to work in these shops.
Although betting and other form of gambling have huge socio-economic benefits, their side effects on the society are quite dangerous. If not well managed, their addictive nature can stimulate other social vices like family crises, stealing, laziness, bankruptcy, mental disorder and even suicide.
The economic benefits that accrue from betting and gambling pale in comparison to the problems that they are unleashing on societies.
