Topic: Nigerians spend $975m daily on online betting - page 5. (Read 581 times)

Honestly, I didn't expect that the circulation of money in the online gambling business in Nigeria was so big. With the data above, it further proves that the current target market for gambling is developing countries. Every day gambling players are not decreasing but increasing, so the governments of many countries are obliged to solve the problems that can arise because many gambling addicts are born. Regarding what percentage of online gambling sites pay Nigerians, I'm sure the data we get will never be accurate.

Basing up on the numbers then it is really that quite alarming but if there's nothing that we can see about on some odd actions and doings then there's nothing we can do if they are really that a fan
on making up bets but as said that this is 3rd world country on which it does basically means that people arent really that mostly that being rich but still getting involved with gambling?
This do totally shows that they are really that addicted to gambling which basing up on the population number and the % of those gamblers then we can say that they are really that getting
involved that much with gambling. Gambling industry is really indeed making that huge revenue considering about almost a billion $$ a day? Whatt?
Just like you had mentioned on which this is really that still excluded on online crypto gambling too which means that numbers arent still that precise but
pretty sure it would really be just that more.

I am not doubting the Nigerian spending power or not degrading them in any manner, I am just thinking logically, and this percentage is too good to be true. Also if you take a look at the article mentioned in the OP it is not talking about people gambling more and getting addicted, it's about making the right frameworks which is nothing but bringing guidelines for gambling activities and enforcing every gambling operator to generate revenue in the form of taxes to the government.

All the wins from gambling is subjected under taxes but I can't really able to find the actual taxation numbers so that is what this is all about.

If I'm the president, I will not he happy about this gambling consumption numbers. This is bad for a country that says they have a functioning government. This manifest government laziness and improper provision of youths. If you check the number of people that are betting everyday on sportybet, 1Xbet, Msport, and many other sport bookies, you will understand that almost all the youths indulge into gambling that was designed for entertainment has now turn to a place to look for money.

I like how they expose this gambling platforms that has been milking the states, they might not be doing it indirectly but they don't pay their taxes, always give wrong reasons why they don't have customers but actually, they do because even if people don't bet everyday, Saturday and Sundays are fix matches and Tuesday for Premier League, Champions League and other European leagues are all play in these days and sure money comes into their platforms but find excuses to avoid taxes.

Nigerians love gambling though, 65m engage in gambling is something to be checked. Imagine a new gambling companies seeing this stats, it will invite them to come get there own share of $900M people waste on gambling everyday. The government need to do something about these numbers.

When you divide $975m by the 65 million of Nigerians who gamble daily, you'll get $15 per person and if critically analysed, you'll know that the statistics is absolutely correct.

Nigeria is a country that's made up of over 200 million people and the 65 million people who daily engage in gambling are below half of the total population in the country and if carefully examined, over 60% of the gamblers earns more than $1000 monthly. And that's I think it's absolutely possible for them to spend such amount on gambling daily. Because of the very harsh economic situation in the country, a lot of people engages in gambling in search of shortcuts earn a living but sadly for most of them, they end up losing more than they win from gambling

This is interesting, and this data just proves it all. I have just been wondering why all these new online and physical gambling shops are coming out every single month and week. We see new advertisements for new casinos; they all know what they are coming for, and even if 100 different casinos are to be situated in the country, there will be enough money for them to share since the citizens are willing to give out their money to them to make them richer.
 
The rate at which the youth are really relaying on gambling is surprising; there is no way you will visit a crowd of 10, and when you check through what they are doing with their phones, one of them will definitely be on either SportyBet, Betking, Bet9ja, or any of their choice of casino, making their predictions to see if they can win a game, which is very wrong. They now gamble as if their destiny is being tired down on winning a game, and if they don't gamble, there is no way for them to make it out of poverty.

It is not a surprise. Gambling is very popular among poor people and Nigeria is one of those poor countries. These people are mostly unemployed and if they are lucky enough to have a job, that job pays very little. In a situation as shitty as this, gambling makes more sense because they won’t be going anywhere financially either way. Poor people in the developed countries also share the same logic. That’s why you see wage slaving people buying expensive crap which they don’t really need.

Here in where I live I see many people that work for the minimum wage ($400) and yet they use the latest iPhone which costs way more than their paycheck. That’s the only way they can feel life. They won’t ever have a nice car or a nice home but they can buy them iphones. Yippie

Funny to see such reactions in the life of Nigerian gamblers. But, it truly defines their gambling attitude. It's not like the responsible gamblers who play to enjoy the game. You'd notice that those people needed a fast method to multiply their school fees, to fund other utilities. But whatever happens they're contributing squarely to the gambling economy of Nigeria. If they continue like this, more gamblers would emerge from the country. Consisting of both the disadvantages and advantages of gambling. Thereby, increases the accumulated wealth from gambling, especially sport betting. With the love of sporting activities thriving in the country. The best source of additional wealth to the government is stabilizing the Nigeria Premier league. But, it's long long gone. However, moral instructions still revolve around the country, people still try to maintain their mental health. Not to be affected by gambling addiction. like some responses above, the majority consists of young people that means the country may become a gambling country like Australia in future. Because the high rate of gambling in Nigeria is quite alarming. Including traditional gambling and lotto. I've confirmed that on news paper the money generated from gaming is much. But, unlike Australian government the Nigeria government don't invest a lot of the money back into moderating gambling in the country. If they did, It would have skyrocketed a healthy gambling in the country. Though in Naira, it's a huge amount, converting it to dollar is about $1 million, which may not be compared to the amount other first world countries spend in gambling. A single player in America can wager $1 million in one day. So, the poverty rate still contributes, but they are players who still enjoy their gambling Habit. I didn't get the line about source? what do you mean by that, you mean the government need to devise other methods of making money via gambling? The country has enormous means of generating wealth. They may not need such a plant to grow in the country. It can ruin their youths. Such things as that are not encouraged, although I get your point could be that since they are in love with gambling. They may also love to venture into such business. In my context it's wrong. The country is blessed.

Not really for the citizens.

But, we all know the government is the one who relly on gambling-tax. It's no secret, that gambling-tax are the one sector that can bring a good revenue-tax compared to other sector because the cycle movement of money is really big.

Even my country who are a Muslim country around 30+ years ago legalized gambling and make a tax from it. Guess what, it's boosted the city.

That's not the case, really. They just divided the $975m into the 65 million people, resulting into $15 per day. Based on the data that you have provided, there's no way that that many people will risk half of their monthly earnings PER DAY in hopes of getting something in return. There will be some people spending more than $15, and there will be some that will be spending way less than that. Take the total number, and divide it to the number of people and you get the average spent per day, but I'll tell you that this isn't an accurate way of presenting that data they gathered.

Even though that's the case, 28% of people actively engaging in gambling on a daily basis is really alarming. I guess with the economic conditions in Nigeria, a lot of people will rely on luck rather than look for jobs and improve their skills to get paid more.

That’s really a huge amount of money. I haven’t seen this information before, and I don’t know how real the data that you posted is, but all I know is that youth in my country do gamble for survival. The country that you mentioned is my country, and I know the way things work here. Most of the youth that you will see gambling are doing it just for money, a few of them are gambling for fun, and I can say that only a few of them are really making money from gambling, most of them are always ending up losing, and they are addicted to gambling. Some people do gamble from morning till evening, they don’t have anything else to do, any amount they make from gambling, that’s what they will use to sustain themselves.

I am not surprised by the amount of figures that the NLTF called out that Nigerians spent on gambling houses per day. The involvement of Nigerians in online gambling is outrageous. Should I say there is no area or street in Nigeria's locality that doesn't have gambling houses. And the turn-up of people in those gambling houses is always much per day. If a gambling house out of thousands of gambling houses all over the federation(Nigeria) should tell you how much they generate a single day, you will completely agree that online bets are making huge money in Nigeria.

Despite how poor the country is, the people are still engaging in gambling. I think this is because the population is more than 230M which was said above the government must have been making huge profits from these gambling citizens. That is one means of source for their government. They only have a few options for its source though. If the poppy plant just grows in the region, they may actually be producing opium.

We wouldn't wonder anymore why there was a lady and a kid crying to give back his school money to him after losing on bookies.

I doubt!
Unless Nigerians have found a "magic formula" to make money from casinos steadily in order to make it a source of income.
Surely it is the casinos who must be profiting from the Nigerians.

But, what leaves me in doubt is that Nigeria is not a country with a rich population, if I'm not mistaken the majority tend to be middle to lower class, so why do they have such a high daily bet value compared to the average? from other countries?

I think no, but I think they are hoping that betting in gambling games like lotteries can change their lives.  A one time big time win is all it takes to make a 180 degree turn in order for someone to get rich and say goodbye to poverty.  This is the major reason why people are betting into national lotteries even if the chance of winning is very small.

If Nigerians play such an amount every day, that means the government is generating enough money from the gaming niche. Because the country consists of both the rich and the poor. Not everyone is extremely poor in Nigeria. So, they'll be able to have fun playing games. It's just like checking how much Nigerians also spend on hotels and wines. You'd see that a high amount is also spent everyday. The government generates lots of money in Nigeria. Only people who don't know how big gambling is worldwide would doubt such digits. I won't doubt it, since the population is enough to spend such an amount. Many of them play games with vendors and they get paid. So far the person wins the game. Hence, if the numbers are real, it's still based on estimation. It's not realistic to say that they need gambling to survive in the country. That means the person won't survive. Since gambling has never been made for people to make lots of money. Most of them won't be able to meet up with daily expenses and food as well. Economic crisis doesn't mean markets won't sell and traders making profits. These traders also bet while in the market. You'd see that gambling is quite large in Nigeria with high volume of profits for vendors and bookmakers.


Corruption and lack of employment thrives in the third world, but in Nigeria the population is enough to generate shocking amount of money yet it won't be enough to feed the whole nation. Millions of Nigerians according to WHO live in extreme poverty. Such people need not try gambling. It doesn't occur to them that such things exist. As for the resources the Niger Delta part of Nigeria are still fighting for amnesty for the bad effects the oil business has on agriculture. These people depend on fish farming to survive. But, Oil ports and rigs have destroyed their fishing businesses. With the government feeling reluctant about it. The whole oil producing states still live in poverty. Minimal developments. Such people with their stipends, will easily try luck on gambling, things may get better along the line.

Gambling is not a business that can provide us with profits or income so that we can survive. Because after all, our position in gambling is as players, not as business owners or share owners in certain casinos. And I emphasize again that our position as players is that when we want to play we have to deposit a certain amount of money so that we can get pleasure from gambling, not profit.

However, it is desperation that makes them behave in this way and spend some of the money they have to try their luck at gambling in the hope that they will get a big win that can change their financial situation. The increasingly difficult economic situation, increasingly narrow job opportunities, increasingly tight market competition and ever-increasing needs, this is what requires them to have as much money as possible to be able to answer all existing needs and problems. However, they are careless, instead of increasing their efforts to change the situation, they prefer to do stupid things by continuing to wait for a big win in gambling that will change their life.

These gamblers don't rely on gambling as their main source of income. Many Nigerians are hardworking and strong and can do low-paying jobs to survive. They only see gambling as an alternative source of income. The harsh economic conditions are forcing many people to put more money into gambling hoping that they can get some financial benefits. I don't think any data shows how much Nigerians have won or cashed out from gambling. But have seen news outlets reporting how some gamblers won big. I am sure many people are benefiting from gambling because they would have stopped betting if it was not beneficial.

First of all, I don't think the numbers mentioned in that article is true and it seems like they want to government to impose taxes to generate revenue from the gambling industry so probably the numbers can be a part of the setup plan before imposing the high taxes.

Fellow Nigerian community may know the actual reality cause if 32% of people gamble on a daily basis then there should be at least one gambler in every family that consists of three individuals.

As a Nigerian and from the point experience as a gambler who resides in the country,  This Data is very correct and I agree with it because the rate of gamblers has increased over the years with the increasing number of people using smartphones in Nigeria, where we now have most gamblers resort into using the online betting platforms to book place their bet. After all, online betting platforms have made betting very much easier and faster for gamblers to bet from just the comfort of their home than before without having them visit that offline sportsbook out there.