Nigerians spend $975m daily on online betting

[dothebeats]

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.

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.

[ryzaadit]

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.

[Accardo]

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.

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.

[mindrust]

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

[Orpichukwu]

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.

[Docnaster]

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.

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.

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

[Huppercase]

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. 

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.

[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.

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.

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.

[Oilacris]

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.

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.

[Renampun]

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. 

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.

[Yatsan]

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. 

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.

[passwordnow]

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?

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.

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

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.

[Abu-Naim]

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. 

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.

[Chilwell]

can we say that they relied on gambling to survive?

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.

[knowngunman]

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

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.

Compare what?

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.

[Gozie51]

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.

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.

[Cryptomultiplier]

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.

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.

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.

[BIT-BENDER]

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

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.

[Hispo]

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...

[dothebeats]

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.

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.

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 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.