Topic: Nigerians spend $975m daily on online betting - page 4. (Read 581 times)

Since Nigeria is a third world country there's an inequality of wealth distributions where the richest own a lot of money and most of people are poor, it's true if they're solely depend on gambling as a source of income.

Poor people don't have enough money, how they can have money to gamble? obviously it's for making more money.

The numbers are alarming but I'm pretty sure that there are miscalculations, if there aren't miscalculations, there surely are mix-ups in those numbers, specifically the $15 per day part which is almost half of most people's monthly salary in Nigeria because their currency has no value at all against USD. Nigeria is a country where there isn't a lot of wealth available for the general public and the country itself is a middle-income country with a HDI of about 0.5 or something.

So, I'm pretty sure that among all those people who are involved in gambling are some that are rich and spending a lot of money on their gambling activities which is why the amount being spent is that high and those making calculations are taking out the average being spent is $15 per day per person which isn't what all of them can afford to lose every day, of course.

When the regime is not stable, i wouldn't be surprised if citizens would want to use online casinos simply as banks to store their wealth in. And this is probably something that is going on with crypto exchanges as much as with online casinos. If my bank had a gambling option, i might gamble more as well.

When one lives their life under corrupted officials, i assume that even shadiest exchange seem like a trusted ally, not to mention trustworthy established casinos. As additional bonus, those probably don't have to give up their user data of Nigerians to Nigerian officials, as Nigeria has no leverage over them. So it's a no-brainer to use them

Idrk if that's big. Do we have any comparison to say, other countries or maybe even other industries instead? But well considering how hard it is to find a constant well-paying job, I don't think it'd be odd that some people would just go fuck it and rely on something like gambling. I reckon a small or close to half might just be your average salary worker that can afford that $15 spending, though most likely every now and then instead of daily.

Plus the number might actually be higher since there may be some local tables of gamblers that gather around to play. Not too out of the window to think about it tbh.

Betting companies and Industry in Nigeria enjoy reduced tax rate. The National lottery Regulatory commision in charge of gambling activities in Nigeria demands that gambling companies pay atleast 7 percent of the license's net proceed, annually. Where the gambling companies pay lots of money is in obtaining license and permit. Prices differ for sport betting and lottery. But, they all fall at the range of million nairas in tens and unit. As for the players, no value added tax is demanded of them. Gamblers in Nigeria get their complete funds. The VAT would have been introduced in gambling this year, but it seems to be limited to maybe companies that may have not complied with paying their taxes. Not sure about it, but, quite possible. Then for the money generated in gambling or wagered money. The numbers here isn't correct, it's way too bigger than the actual amount spent each day. Nigerians wager, daily, around $5m daily. Forgive me, I didn't see the dollar sign earlier. Thought Naira was the currency. No they can't stake such an amount daily. If you read my last post you'd notice I wrote it believing that it's in Naira. Talking about what is been said in the article. I'd say that the Nigerian government still have strict rules on gambling adverts. Though gambling companies collaborates with telecommunication companies to also provide gambling Ussd code for non smart phone users. Yet the government got that angle covered and still watches over their activities. And it's written on the wall that the increase in the use of mobile phones increased the amount of money people stake everyday. If there were no fixed regulation monitoring the gambling company, the situation would have been hotter than it is, lots of people or more tender age players may/will have filled the gambling niche. In a nutshell, it's impossible to get watch of every gambling activities in Nigeria, to be able to detect underage players. Most of them participate, but to some extent.

is totally a suicide attempt to try to take gambling as a means to escaping financial and economic hardship because doing so will only increase the risk of you becoming poorer because as a result of the multiple losses that you will record from gambling, so I think instead of choosing gambling as a means to get in on some of those little challenges even though it is big in some cases, but comparing it the resultant bad effect of gambling in contribution to that hardships it becomes big.
Nigerians are known for always being the best at whatever they have to do, and gambling is one of those things that have gained such high attention from Nigerians, but, the losing ratio is still very high compared to how much gambling may have brought into the domestic economy.

Poverty is driving people to see gambling as another source of income. They are not gambling because of fun but to make money to survive the harsh economic realities. The government doesn't care about the population, they are only interested in looting funds and collecting taxes from these casino companies. In almost all the streets in my region, you will find an in-house betting company. Some of them are even close to secondary schools where we have underaged children. As the economic situation of most of these countries keeps getting worse, the amount people spend on gambling will keep increasing.

From the way that I see it, two factors are responsible for this trend of increased interest in gambling in Nigeria, one is the economic hardship that is biting hard in the country, the other is the increased adverts of bet companies in the country. Because of the rate of unemployment, increased high cost of living, the naira devaluation, these reasons and more are driving the citizens to look for any alternatives to escape poverty, so people have embraced gambling as a quick and genuine way to get rich quick. From my observation as a Nigerian, most gamblers don't engage in it just for fun, majority of them gamble as a means of survival. When you hear that Mr. A who is known to be poor just suddenly hit the jackpot and becomes a millionaire overnight through gambling, this is the motivation for the increased interest in gambling in the country.

Again the way sports bet and lotto shops are springing up in most corners of the country is very alarming, also the way the bet and lotto companies are advertising gambling is very enticing, as if when you place bets that it's certain that you'll win. Nigerians love football, so anytime that there's a match, you'll see sports bets advertising the match on news sites and will ask you to make bet on who will win.

so who would have thought that they have money to gamble on a daily basis where this country is known to have a lot of people below poverty level? the gambling business is very profitable then on this area. wonder where people are getting their money to sustain their daily gambling activities.
the figures may not be exact but it goes to show that this country is like a gambling haven in their region. i hope some youths will find their way to better their lives.

Infact this 28% is low excluding old and children. The reason why I said this is that this is the online statistics. People bet offline, on land base casino. People gamble in their compound, in the neighborhood apart from casinos and it is normal in Nigeria. Some gamblers gamble till dawn. Like someone said, I will say that it is like a tradition down here because even before the economy got to the level, people have being gambling and using it as a means to double their funds.

The youths now don't have anything that they do with their money but to gamble and hope to win big, because they have seen people that have won big in gambling. There are sportbet outlets in my neighborhood and all the time it is filled up. They see losing as something normal and they hope that someday, they will win big.

This does not mean that every person from that 65 million spend that much. That's what I'm getting at. If the minimum wage in the country is set at $39, they could not spend $15 daily in gambling alone. There's more to it than adding the total dollar value and dividing it among the 65 million people. There are key things missing like demographics and income range in order to paint a better picture. If the average Nigerian, out of that 65 millions, could spend $15 a day in gambling, this must mean that they are earning more and are doing well, but that's not the case.

It completely portrays a different image, and that's not statistics done right. It just states that 'they' as a collective, spends X per day on average, but that doesn't mean that every individual actually spends that much. The distribution assumes that each one of that 65 million is spending the same amount. They have a figure of 60% of that 65 million earns $1,000 a month, but they stopped there and didn't really checked for the spending habits and the variations on each individual's tendency to spend money in gambling.

Also, spite of the claims of people about how bad their government is and the ambience of corruption the average Nigerian suffers in their own land, I have also noticed Nigerians have a very strong tradition of getting married and having children, disregarding the economical conditions of their country and whether they will be able to support a family perpertually.
I don't have any doubt in my mind that an important percentage of people who partake in gambling also do it for the sake of having a chance to get some food for their family.
If the Nigerian government is is willing to step up and fight corruption how Nigerians require it, then at the very least they should do the same some states like India and China do and encourage couples to only have one or two children maximum, in exchange of benefits. one is not supposed to rely on gambling while having a family, it would better not to start one, in my opinion...

Thought same thing too, I think the statistics won't be complete if we don't see the amount of payout to gamblers and stackers, I don't think Nigerians are dump and keep giving away their money without any returns.
Gambling is striving in Nigerian and my opinion on the major reason for that is joblessness the Nigerian youth especially has lots of time on their hand doing nothing and spend more thing gambling even though they don't have means to fund the gambling lifestyle. Although I don't have anything against gambling but gambling irresponsible is where I draw the line.

I can attest to the fact about casino games not being a top choice for Nigerian gamblers because we are more of a football betting nation than casino going kinds of people. I mean, the country is already so hard as it is and the major survival investment any gambler or bettor does is to place bet online for matches played over and through the weekends.

The losses is quite cumulative to the $975m estimate and i know more than one bet slips are staked for many when betting. Online casinos these days are gaining customers too in same season as this. This shows how we survive and how we spend much of funds, mostly when single and or working at an office job.

I agree with the statistics and your analysis but where I vary with your analysis is the online casino area. I don't think the number of Nigerians betting in online casinos and those using crypto is higher than offline bettors. Remember those who are betting offline are also likely to be same person betting through online casino games.

Moreover, the age range of bettors in Nigeria are mostly youths and they are more particular about soccer not even sports in general, so that already limit the numbers estimated bettors in online casino games.

However more seriously, the reason for this alarming number of gamblers and are mostly youths and mostly graduates is high level of unemployment. The nation is facing difficult times and the leaders don't allow election results to reflect the wish of the people but to rig themselves into office and the result is backwardness and no wonder brain drain continues in Nigeria and Africa.

It is unfortunate that people try to survive through gambling because there is no jobs or conducive business environment but there is no survival in what seem to be a lucky dip, it can only favour very few people and majority will end up being more poor.

Sorry to say but Nigeria is not a poor country. Yes, Nigeria is often described as a developing country which means that it is not as economically advanced as some western countries but it is worthy to note that Nigeria has a large population and is the most populous country in Africa. Nigeria is blessed with a wealth of natural resources including oil, natural gas, coal, tin, iron ore, and limestone. In the area of agriculture, the country is also rich in agricultural resources like cocoa, palm oil, and cassava. The problem with Nigeria is that the country is struggling to manage these resources effectively. Corruption and mismanagement of these resources is what is killing the country but it is unfair to say Nigeria as a country is poor.


To compare the amount spent on betting and the amount realized from betting of course. I think it is necessary to know whether the investment is yielding positive result or not. With that huge amount being spent on betting and with bookmakers probably paying out little amount justify why we are having new of them popping out on a regular basis.

With this statistics it shows that they are depending on gambling to survive, honestly the country is not favouring poor mass now that why they engage themselves in gambling hoping that the can earn a living, but they don't know they are misunderstanding the all issue because only few gain from gambling, I heard a discussion with a colleague at work yesterday when he asked me to check livescores for him I then asked him do you gamble and he replied me by saying he is even the home of gambling, discussion continue I asked him have you loss before and he said the money he lost is far more than the money e realised.

This data is correct and I believe that people playing the bet will be more than that percentage on paper.
Some people make gambling shop their homes and offices because they don't have job and they are getting hope of winning virtual games for money they can use to survive and pay their bills.

Some gamblers are not using their smart phone, they book games with the betting shops, and some of them book multiple games just to earn a leaving.

Gambling is supposed to be for fun, but in some people case in Nigeria, they are taking it as their source of income which is wrong, and through this gambling addiction, so many people have lost their lives and properties for bet.

I don't think that they are relying on gambling to survive. But maybe close to it when 32% of the population gambles with an average of $15 on a daily basis. That is already a lot there, right? I think all of these stats have started to get some increase during the start of the pandemic. Many people don't have jobs and they relied to some "online" work they think they'll help them to survive and one of it is gambling.

Only the media or authorized people will be able to get these data from them because if you're not as popular as they are then it is highly unlikely that you'll get some stats from them. That's why it is better if whoever has made this article should also go into the popular casinos and ask for data from the demographics that they have specifically in Nigeria.

Compare what?
If we are really on a crisis, people won’t gamble their luck in exchange of eating to survive. Taking a risk won’t be prioritized so I guess they’re just fine especially those who are really betting $15 (for sure not daily) is a reasonable amount even for them. But if that is their limitation and they are just frustrated enough to choose betting than to buy necessities, then that’s their thing and we just cannot command them to stop. If it is comparison, overall accessibility of gambling sites would make it complicate.