Nigerians spend $975m daily on online betting

[knowngunman]

Data from the National Lottery Trust Fund (NLTF) has revealed that over 65 million Nigerians actively engage in betting, spending an average of $15 daily. This is just as it disclosed that everyday, 14 million bet takes and payments are made online in the country. continue reading here....

Recalled that Nigeria population is estimated to be around 200+million and from the information above, over 65 million people are engaged in gambling on a daily basis amounting to over 32% of the country population. With the recent economic crisis and hardship affecting almost all the nations, if large number of people are spending this much on betting, can we say that they relied on gambling to survive?

But, I think we need to know how much betting sites are paying out daily too, so we can make comparison. 

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[Oshosondy]

if large number of people are spending this much on betting, can we say that they relied on gambling to survive?

It should not be like that. If it is like that and they are relying on gambling, gambling sites that they are using will be very happy because they will make more money from them. I guess that most people that will be gambling among the 32% will be 80 to 95% men.

Gambling should be for fun, not a way of making money.

[Natalim]

That's totally alarming considering the total population of Nigeria 225,600,039 as of November 2, 2023 coming from the source below.

https://www.worldometers.info/world-population/nigeria-population/

So let's do the match, that's 65m/223m = that's 28% of population are into gambling. Well, I tell you, this pecentage is too high considering some of the 225m population are minors or kids, or women, which the rate of gamblers is really high. And here's another interesting numbeer from OP>

spending an average of $15 daily

And as per data below, it's minimum wage is.

39.289 USD/Month

https://take-profit.org/en/statistics/minimum-wages/nigeria/

So they are gambling more than what they earn? That's unbelievable.

[Broadanbig]

I strongly believe the figure is far much higher than this if online crypto betting is added because this betting statistics is from the online casino that accepts Naira only and Crypto betting is not included and if I am not mistaken, the online crypto betting statistics might be far higher than this statistics if the data is given. Nigerians are always looking for alternative means to survive the hardship in the country so if they resort to gambling as a source of income,I am not surprised because the economic situation of the country is not encouraging so one would need to improvise just to survive.

[KTChampions]

Data from the National Lottery Trust Fund (NLTF) has revealed that over 65 million Nigerians actively engage in betting, spending an average of $15 daily. This is just as it disclosed that everyday, 14 million bet takes and payments are made online in the country. continue reading here....

Recalled that Nigeria population is estimated to be around 200+million and from the information above, over 65 million people are engaged in gambling on a daily basis amounting to over 32% of the country population. With the recent economic crisis and hardship affecting almost all the nations, if large number of people are spending this much on betting, can we say that they relied on gambling to survive?

But, I think we need to know how much betting sites are paying out daily too, so we can make comparison. 

When a third of the population is involved in gambling (and if you take away the children and the elderly who no longer need anything, then this is not a third, but rather half) then it looks like an epidemic. I don't know how bad gambling affects most Nigerians, maybe they have fun responsibly and don't have any problems with gambling, but from the outside it looks terrible.

[coin-investor]

if large number of people are spending this much on betting, can we say that they relied on gambling to survive?

But, I think we need to know how much betting sites are paying out daily too, so we can make comparison. 

I don't think they are relying on gambling to survive, nobody can survive on gambling alone, they just want something that can pull them out of their poverty and that is betting on the lottery or any form of gambling, Nigeria is not the only country, in our country Lotto is so popular that you can find lotto outlet almost every corner of the city, people just need something to put their hope and in our case its lotto.

Expect that in a country where there's a large number of poor families, they are hoping that winning in gambling or the lotto is their way to financial freedom but of course, they still work to make a living, they still study and do other things until they hit the jackpot that will change their life. this is the hope of many poor families in our country.

[Wapfika]

Recalled that Nigeria population is estimated to be around 200+million and from the information above, over 65 million people are engaged in gambling on a daily basis amounting to over 32% of the country population. With the recent economic crisis and hardship affecting almost all the nations, if large number of people are spending this much on betting, can we say that they relied on gambling to survive?

This kind of result is normal on a country that has a high poverty since they are using gambling to have an opportunity to become rich quickly by placing small bets which everyone can afford even though the odds of winning is very slim.

This is not only the case to Nigeria but literally to most 3rd world country that has a national lottery. I never bet on a lotto but I won’t blame them on spending money on it since you will never know when luck will comes to you while the betting amount is very affordable.

But, I think we need to know how much betting sites are paying out daily too, so we can make comparison. 

Regardless of the exact amount, They will always win due to house edge.

[Hispo]

I personally believe that hard economical times can make people in developing countries to resort to gambling because it is either a mechanism to escape reality and the challenges of it for a while or also because it may help them to earn some money by pure chance and luck.
However, I have noticed that gambling seems to be somehow embedded with the Nigerian culture or something like it.
I do not have any Nigerian friends myself, so I cannot be sure, but it would seem to be that way, that gambling and betting has turned into such an important part of Nigerian culture to the point of that high percentage of it's population engaging on it.

It would be preferred if those going through difficult times did not gamble at all, but realistically, there is no much casinos or the government can do without a serious and we'll funded program.

[Stepstowealth]

Because I am observant of the number of gamblers around me and how much of the gambling activity is going on around me I can see that this figures stated as the amount spent by Nigerians daily on online gambling can be correct because I have even witnessed people who have no idea about a game but are willing enough to use their money on another persons prediction just so that they can have an opportunity to win. The economy is hard right now so I think the many Nigerians have taken it as a way to make money, and a way to give themself hope that they're making moves to make money.

[Hispo]

Because I am observant of the number of gamblers around me and how much of the gambling activity is going on around me I can see that this figures stated as the amount spent by Nigerians daily on online gambling can be correct because I have even witnessed people who have no idea about a game but are willing enough to use their money on another persons prediction just so that they can have an opportunity to win. The economy is hard right now so I think the many Nigerians have taken it as a way to make money, and a way to give themself hope that they're making moves to make money.

But what is what drives people to resort to gambling to make money, because we all know that in the long term all those people will end up losing their wager.
What is going on in Nigeria? Is it lack of employment ? Because as far as I know Nigeria is actually a very diverse and rich country when comes to natural resources like petroleum.

Is it about corruption? Because if it is about corruption, then I would personally not trust any nationally held lotteries and only gamble on casinos with headquarters abroad and probably fair games.
Whatever it is going on, I hope people somehow be able to sort out that national situation and they do not need to depend on luck to continue to have a decent life standard, also they would not need to depend on some military general carrying out a coup...

[Franctoshi]

Data from the National Lottery Trust Fund (NLTF) has revealed that over 65 million Nigerians actively engage in betting, spending an average of $15 daily. This is just as it disclosed that every day, 14 million bet takes and payments are made online in the country. Continue reading here...

That Nigeria's population is estimated to be around 200+ million and from the information above, over 65 million people are engaged in gambling daily amounting to over 32% of the country's population. With the recent economic crisis and hardship affecting almost all nations, if a large number of people are spending this much on betting, can we say that they rely on gambling to survive?

But, I think we need to know how much betting sites are paying out daily too, so we can make a comparison.  

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.

[jrrsparkles]

Data from the National Lottery Trust Fund (NLTF) has revealed that over 65 million Nigerians actively engage in betting, spending an average of $15 daily. This is just as it disclosed that everyday, 14 million bet takes and payments are made online in the country. continue reading here....

Recalled that Nigeria population is estimated to be around 200+million and from the information above, over 65 million people are engaged in gambling on a daily basis amounting to over 32% of the country population. With the recent economic crisis and hardship affecting almost all the nations, if large number of people are spending this much on betting, can we say that they relied on gambling to survive?

But, I think we need to know how much betting sites are paying out daily too, so we can make comparison. 

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.

[Fiatless]

Recalled that Nigeria population is estimated to be around 200+million and from the information above, over 65 million people are engaged in gambling on a daily basis amounting to over 32% of the country population. With the recent economic crisis and hardship affecting almost all the nations, if large number of people are spending this much on betting, can we say that they relied on gambling to survive?

But, I think we need to know how much betting sites are paying out daily too, so we can make comparison. 

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.

[topbitcoin]

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.

[Accardo]

Data from the National Lottery Trust Fund (NLTF) has revealed that over 65 million Nigerians actively engage in betting, spending an average of $15 daily. This is just as it disclosed that everyday, 14 million bet takes and payments are made online in the country. continue reading here....

Recalled that Nigeria population is estimated to be around 200+million and from the information above, over 65 million people are engaged in gambling on a daily basis amounting to over 32% of the country population. With the recent economic crisis and hardship affecting almost all the nations, if large number of people are spending this much on betting, can we say that they relied on gambling to survive?

But, I think we need to know how much betting sites are paying out daily too, so we can make comparison. 

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.

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.

But what is what drives people to resort to gambling to make money, because we all know that in the long term all those people will end up losing their wager.
What is going on in Nigeria? Is it lack of employment ? Because as far as I know Nigeria is actually a very diverse and rich country when comes to natural resources like petroleum.

Is it about corruption? Because if it is about corruption, then I would personally not trust any nationally held lotteries and only gamble on casinos with headquarters abroad and probably fair games.
Whatever it is going on, I hope people somehow be able to sort out that national situation and they do not need to depend on luck to continue to have a decent life standard, also they would not need to depend on some military general carrying out a coup...

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.

[BitDane]

if large number of people are spending this much on betting, can we say that they relied on gambling to survive?

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.

[alegotardo]

With the recent economic crisis and hardship affecting almost all the nations, if large number of people are spending this much on betting, can we say that they relied on gambling to survive?

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?

[bittraffic]

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.

[Marykeller]

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.

[Stable090]

if large number of people are spending this much on betting, can we say that they relied on gambling to survive?

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.