Why Nigerian Youths Play Sport Betting

With the Nigerian sporting industry boasting of about N2 billion annual revenue, many sport betting companies have continued to emerge.

Some with presence in other countries are also stretching their necks to get their cut off the rising yeasted flour.

Some of popular sport betting sites in Nigeria presently around include:

Nairabet
Merrybet
Bet9ja
Naijabet
Lovingbet
Surebet247
Supabets
1960bet
Nairastake
Parknbet
360bet
Sportybet
Plusbet
Skybetnaija
9jadollarbet
Visabet
Winnersgoldenbet
Bingo
BetKing

Why Are There High Number of Punters in Nigeria

The rate of unemployment in Nigeria in the third-quatre of 2018 according to the National Bureau of Statistics (NBS) was 23.10. This was higher than the announced stat for the second-quatre of the same year.

However, the NBS ever since then has not released any other data till the time of this publication. The reason for the nonpublication of Nigeria’s unemployment statistics is unknown.

Lanre News had reported that “the unemployment statistics were released in four quarters between 2015 and 2017 and in three quarters in 2018 after which it was abruptly stopped.

“No record throughout the year 2019, while other statistics released by NBS did not stop.

“An analysis of the released statistics between 2016 and 2018 revealed a successive increase.”

Lanre News contacted the NBS Statistical Information Officer, Moses Mathew, via the email provided on the Bureau’s website to enquire the reason the unemployment statistics were not released, he responded saying “Be more patient until it is released.”

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Another email sent to the Head, Public Affairs & International Relation Unit, Sunday J. Ichedi failed to deliver.

In a survey report by NOIPolls, Nigerians noted among other things why punters are engaged in gambling. Of the stated reasons are; ‘quest for quick money’ (30 per cent), ‘high rate of unemployment’ (21 per cent) and ‘greed’ (15 per cent).

Interesting Statistics on Betting in Nigeria

Number of Active Punters in Nigeria

Nigeria is a nation with a population of more than 250 million. According to a survey reported by the Nigeria News Agency (NAN), about 60 million Nigerians aged 18-40 are active sports betting players. It was also discovered that these bet players spend on average N3,000 daily on stake(s).

Prevalence of Betting in Nigeria

A survey conducted by NOIPolls Opinion Polling Centre on the prevalence of betting in Nigeria reported 77 per cent of respondents agreed to its prevalence.

Leading among the results was South-West (92 per cent) had the highest prevalence rate of betting, while South-South (91 per cent) geo-political zone follows. North West was perceived to the geo-political area with the least prevalence of betting.

Why Nigerian Youths Play Sport Betting — Source: NOIPolls

“36 per cent of those polled admitted that they personally engage or have family members who engage in betting; with more than half of this group of respondents (53 per cent) engaged in daily betting;” the report stated.

The report continued thus; “On the other hand, 60 per cent of this same group reported that they win a bet ‘few times a month’, while 8 per cent revealed that they have ‘never won a bet’.”