Nigerians spend $975m daily on online betting

[goinmerry]

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

We can only associate the term survive if these people are actually winning but we know the odds of winning in lotteries or any gambling form.

It should be, the large number of people there are relying on gambling on their dream to escape poverty and become rich.

But look, these people even have a budget for gambling. We can assume they are really eaten by the thinking that gambling is the only way to become rich.

[tygeade]

It is sad to see that economic conditions are not good and still people pouring such big amounts into gambling daily which can be used for the betterment of the society and solving some financial issues as well.But the great percentage is involved in gambling related activities which is also issue and we can say that the people want easy money through gambling or trying their luck to get rich.But according to me it's not the right way and reports revealing such big amounts is concerning.

But, since when the economic conditions have became good? . I wouldn't say that people are just relaxing, playing gambling to ease that problem because the amounts involved are indeed pretty serious. There is something wrong with that. It could be that people sees gambling as a way to solve those economic problems.

It's the individual's money combined and not only from the people in the government if they are also betting, so I won't say those amounts can be used better to improve the society and solve issues related to it. It's still better though if they have a control. Maybe their personal problems won't escalate anymore.

[Baofeng]

It is sad to see that economic conditions are not good and still people pouring such big amounts into gambling daily which can be used for the betterment of the society and solving some financial issues as well.But the great percentage is involved in gambling related activities which is also issue and we can say that the people want easy money through gambling or trying their luck to get rich.But according to me it's not the right way and reports revealing such big amounts is concerning.

Well we can also say that to those scammers and cyber criminals that live in war torn Ukraine, they still have that time to steal from someone when their country is at war. So the economic conditions are not going to improved anytime though and perhaps those who are losing this big amount of money doesn't really care about what is going around their surroundings.

They might have the wrong mentally from the outside, but who can blame them if they have the money to begin with? Maybe they work very hard to earn that and so they want to enjoy their life thru gambling so we can't blame them for that.

[danherbias07]

This happens most of the time for countries that legalized the national lottery.
It's not far from other countries like the Philippines where many citizens are betting on the national lotto for the chance to win the jackpot. Heck, even the small-time lottery (Keno) is being played on a normal working day.
I don't know the numbers or amount of people who are betting on it but wherever you go in every corner of every city you will see a lotto outlet with people in queue to place their bets.
It became a habit or a traditional thing, especially for those who have their pet numbers. They don't want to miss one day or they will regret it if suddenly their pet number will comes out that day.
I don't understand it because for me it's a waste of money. The chances are way too low for me to consider betting and I'd rather play Keno in an online gambling site than the national lottery.

[leonair]

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.

Gambling often gives someone a chance to win $1 to $1 million depending on a person's luck.  But don't rush into gambling with the intention of making millions of dollars  Because only one in a million people get something like that.  But on the other hand, people get addicted to this drug and lose millions of dollars. So gambling should not be used as a source of income and should be taken as fun only and a person should invest money in gambling only when he has some extra money that he does not currently need and will have an alternative arrangement for that money later.  Or should keep a gambling budget with which he will entertain himself only by gambling

[knowngunman]

We can only associate the term survive if these people are actually winning but we know the odds of winning in lotteries or any gambling form.

It should be, the large number of people there are relying on gambling on their dream to escape poverty and become rich.

But look, these people even have a budget for gambling. We can assume they are really eaten by the thinking that gambling is the only way to become rich.

Exactly, and that's why I said the information is not complete until we know how much bookmakers are also paying out daily. Knowing the both figures will let us analyze the and compare in order to know if their efforts is being fruitful. It's undoubtedly that majority of them are trying to escape poverty using gambling. Meeting physically with them at viewing centers and see how they are imagining what to do with the winning if it eventually happens justifies that. But sadly, it is a dream that is far from reality and unfortunately they are not aware. I doubt if they have gambling budget, some of these people don't even have stable and reliable means of income and that's one reason they still believe gambling will turn things around.

[Fundamentals Of]

I don't think these people are relying on gambling to survive. That's not possible unless by gambling you mean that they're working in casinos or gambling houses. But if you mean that they're simply gamblers and they're getting their money for their basic day to day needs from gambling, that's definitely not true.

But poverty isn't a reason not to gamble. That's what I've learned from poor people themselves. Many poor people are gamblers. In fact, illegal gambling is more rampant in poor areas.

[maydna]

I don't think these people are relying on gambling to survive. That's not possible unless by gambling you mean that they're working in casinos or gambling houses. But if you mean that they're simply gamblers and they're getting their money for their basic day to day needs from gambling, that's definitely not true.

But poverty isn't a reason not to gamble. That's what I've learned from poor people themselves. Many poor people are gamblers. In fact, illegal gambling is more rampant in poor areas.

It is a mistake if they use gambling to earn money for daily needs because gambling will not give you wins more often and bigger than you think. Gambling will take all your money without any left, and even though you can win, the amount of your winnings will be smaller than the amount of your winnings, so you will still lose. Maybe there are still many people who gamble and use gambling to make money, but we don't know the truth.

The fact that illegal gambling is more rampant in poor areas is true because bookies want to give people hope that gambling can bring in a lot of money in a short time. But people should have realized that they also have a chance to lose in a short time.

[Oluwa-btc]

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.

I'll say opposite, not all are hardworking, some maybe hardworking and still have lost them jobs, some have been laid off and them rest sacked, some are living off bricklaying and then gambling.
Gambling does pays you know, but daily, millions of people lose a thousand Naira to gambling almost every second. I do think that all these gambling sites benefits from gamblers more than we benefit from em.

Lately, only those who stake high can also win. Finally, a large number of people gamble and those pastors who preach about and against it go online to take betting codes from punters.

[retreat]

This is quite worrying data because we know that Nigeria is a developing country where people do not have high incomes like people in developed countries. With the condition that there are 65 million people who gamble, this means that every day quite a lot of people spend their money just to gamble, rather than buying nutritious food for their children.
I don't blame people who gamble because it's okay to gamble, but when people with low incomes gamble, it's very sad to see. The government should be able to regulate gambling platforms there, so that with so many people gambling the country can squeeze more taxes from the gambling industry and these taxes can be allocated to more sectors to develop the country.

[kingvirtus09]

65 million people are engaged in gambling. so many if that's true. Is this number of people just focused on or dependent on gambling to have another source of income?

I know that the normal salary of an employee in the country we are talking about is very low. So, that means, I doubt that the 65 million people who are said to be engaged in gambling are really focused on just playing gambling. I am pretty sure that the majority of those 65 million are still finding other ways to get another source of income, as far as I know.

[SmartCharpa]

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.  

In this country, strange things really do happen. Some people will always say that it's just 100 naira, and if they calculate the money they waste on gambling, it might get them something better in life. Still, most people really see gambling as their hustle way of making money in life. They will still have other hardworking to be doing that can pay them, so they can come and use 100 naira and win 1 million.   Many people depend more on gambling than anything else in life because they believe that they most win big money one day, their life continue spoiling. Not everyone who gamble depend on it; some people only gamble for short-term funs, and I don't think they will continue with it long. For some, it truly is their hustle. You will just hear, hustle is hustle and their money always waste. We usually complain that there's no money in the country's and see the large numbers of people who gamble every day.

[GxSTxV]

Data from the National Lottery Trust Fund (NLTF) has revealed that over 65 million Nigerians actively engage in betting,

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

Trust me, I never thought that Nigeria has that much population and they also have a big percentage of people betting. If all these people engaged in online betting surely there are more people not counted, crypto casino player are hard to track so probably they weren't counted in these statistics.
Now, in gambling industry people that were gambling with regular payment systems and banks are now going to crypto casinlos, I don't know if the users of crypto gamblers can be tracked and share their details for stats.

In our country, I never saw any statistics yet for the amount of people gambling or even how much money spent.

[Asiska02]

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.

It is okay to improvise since the economic situation of the country is hard, but will you resort to settling on an income that is risky and not sure of the outcome, it certainly an outrageous number that needs to be controlled in the country. The young ones now depend much on gambling, mostly are men and women are now also engaging in gambling which is not a good one if they can’t control it. Checking from the statistics, one can conclude that at least a Nigerian is participating in gambling everyday which is not the case when looked into on a broader scale. I can’t say but I don’t think about 70% of Nigerians are involved in gambling, now in comparison with the total population of the country. Those that engage in it spend averagely a large amount of money in gambling and that’s what made the total money spent daily on gambling to be on a very big rise.

[noormcs5]

Data from the National Lottery Trust Fund (NLTF) has revealed that over 65 million Nigerians actively engage in betting,

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

Trust me, I never thought that Nigeria has that much population and they also have a big percentage of people betting. If all these people engaged in online betting surely there are more people not counted, crypto casino player are hard to track so probably they weren't counted in these statistics.
Now, in gambling industry people that were gambling with regular payment systems and banks are now going to crypto casinlos, I don't know if the users of crypto gamblers can be tracked and share their details for stats.

In our country, I never saw any statistics yet for the amount of people gambling or even how much money spent.

This is an official data , the data from the national lottery program of Nigeria and we find so many people are involved in it.

I was wondering If we combine all the private gamblings, the private bookies  and the online sites where the nigerians play, then this data and numbers will be huge. This also shows that gambling is a big business in Nigeria and anyone if open a casino can get a lot of revenue through this business.

[goldkingcoiner]

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. 

I keep hearing a lot about Nigerian betting in this board for a while now. It makes sense since Nigeria has such a large population of gamblers. Or at least larger than many other countries.

There are other cultures and countries with huge betting cultures. Take Hong Kong for example, they have such an active gambling community that they even developed strict superstitious guidelines for gambling. Even the casinos try their best to make themselves seem lucky (grow certain kinds of plants outside the casino, have a certain number of pillars and so on).

But almost $1 Billion USD daily just for gambling? Damn. Thats $365 billion USD Nigerians could have used to develop higher living standards instead....

[darkangel11]

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.

Great catch. I agree, it's hard to believe in this data. Stranegly, it's published by The Guardian, which has a decent reputation.

The only thing that comes to my mind which could be used to explain this is that there's a large wealth difference in Nigeria and while a lot of people work for minimum wage, there's also a large number of rich people and these are the ones who gamble. If you put together 1 rich guy and 100 poor people, the rich will be able to gamble away $1k and all the other 99 people will together gamble 0 dollars, but statistically all of them gambled away $10.

Anyway, they have a lot of problems on that continent. I've read that a lot of people in Uganda are alcoholics and now they say that a large population of Nigeria is gamblers. Then there's Somali pirates, poachers and thieves in South Africa and a person starts to think they're ever going to visit Africa.
For the record, I'm joking.

[Davidvictorson]

In a country where betting isn't regulated anyone can say anything. I do not believe the figures. How was the compilation done. I checked the link provided and there was no methodology provided. There are many sports betting websites many are indigenous and many are not. Did these websites give out this data for free or how? It's not just adding up. I know that the incidence of betting has increased but the figure seems to good to be true.

[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.  

In this country, strange things really do happen. Some people will always say that it's just 100 naira, and if they calculate the money they waste on gambling, it might get them something better in life. Still, most people really see gambling as their hustle way of making money in life. They will still have other hardworking to be doing that can pay them, so they can come and use 100 naira and win 1 million.   Many people depend more on gambling than anything else in life because they believe that they most win big money one day, their life continue spoiling. Not everyone who gamble depend on it; some people only gamble for short-term funs, and I don't think they will continue with it long. For some, it truly is their hustle. You will just hear, hustle is hustle and their money always waste. We usually complain that there's no money in the country's and see the large numbers of people who gamble every day.

Just let them be on what are the things that they do really like to do, even if they would be spending some part of their salary then so be it, its impossible that they weren't aware about the potential risks of too much spending with gambling. Considering that Nigeria to be a 3rd world then you would really be asking some questions on how the heck did generate out much gambling revenue?
If they are really that having that kind spending then it is really showing that majority if its citizens are really into gambling on which despite of the earning capability or simply on how to get some income or having non big paying kind of job but still they are really that eager on playing gambling.

Well it isnt bad as long you are really that making yourself in moderation and wont really be that so impulsive or getting yourself that addicted because if you do then you would really be having that huge problem on this case. Imagine on how big they are really that spending on daily basis on online betting which excluded crypto gambling too.
So numbers wont really be that precise.

[Westinhome]

In a country where betting isn't regulated anyone can say anything. I do not believe the figures. How was the compilation done. I checked the link provided and there was no methodology provided. There are many sports betting websites many are indigenous and many are not. Did these websites give out this data for free or how? It's not just adding up. I know that the incidence of betting has increased but the figure seems to good to be true.

This was seems to be huge to my calculation,but some of my Nigerian friend had states me that.They had won the bigger winning in the recent days,So by considering that words.This may be considered to be the real one to me now,If I had heard like the news.I won’t accept this fact,but now their was possibility for the big money involvement.The sports betting alone mentioned by my friends on a call.Because the sports bet will give the maximum benefit,if you had choose the best player to your team.So based on the player performance,it was credited to your wallet as the winning dollars and you can enjoy using that dollar.