How football betting affects Nigerian's crypto

[Nuel0717]

I recently realized that a friend of mine has an e-wallet and uses crypto to place bets on a betting app. This made me think about how the culture of football betting with cryptocurrency in Nigeria can actually influence the way people discover, use, or invest in cryptocurrencies like Bitcoin.

Since many betting apps now allow crypto betting, football betting in Nigeria can act as a gateway, introducing many to crypto, teaching them the basics of how to use it, and sometimes motivating them to invest.

Of course, gambling with crypto is risky and can encourage impulsive trading or losses. But on the bright side, it also increases crypto awareness and adoption.

What do you think about this situation? Is it a good thing, advisable to get into, or something that’s being overlooked?

[Livingleged]

I recently realized that a friend of mine has an e-wallet and uses crypto to place bets on a betting app.

What do you think about this situation? Is it a good thing, advisable to get into, or something that’s being overlooked?

I honestly think it’s shouldn’t be encouraged because anything that has to do with gambling the risk at that is very high and the tendency of you coming out victorious is very slim.

Making money from bitcoin and losing it so easily doesn’t make any sense to me even though using crypto to bet create more awareness about crypto I still think it’s not worth the risk.

I believe in certainty and what I can control thats  why I don’t use crypto to do Whats I'm not in full of control of it.

[BtcAnalyst1]

I recently realized that a friend of mine has an e-wallet and uses crypto to place bets on a betting app. This made me think about how the culture of football betting with cryptocurrency in Nigeria can actually influence the way people discover, use, or invest in cryptocurrencies like Bitcoin.

Since many betting apps now allow crypto betting, football betting in Nigeria can act as a gateway, introducing many to crypto, teaching them the basics of how to use it, and sometimes motivating them to invest.

Of course, gambling with crypto is risky and can encourage impulsive trading or losses. But on the bright side, it also increases crypto awareness and adoption.

What do you think about this situation? Is it a good thing, advisable to get into, or something that’s being overlooked?

Nor be lie, if crypto betting enters some of the betting Apps for Naija, e go help to spread awareness to new people because the new gamblers go always enqire about crypto from their friends as dem begin seen am from the betting apps. But make I tell you, some people wey dey play sport bet, nor dey focused, all their mind na how dem go take winn sharp sharp and go flex, many of them nor go like to learn.
Anyway, I think say crypto used for sport bet na good thing, but users fit use stable coins like used/usdc take dey bet because Bitcoin they fluctuate well well, e fit bring betting cancellation if the price dump.

[Zigabel]

Of course, gambling with crypto is risky and can encourage impulsive trading or losses. But on the bright side, it also increases crypto awareness and adoption.

What do you think about this situation? Is it a good thing, advisable to get into, or something that’s being overlooked?

Crypto utility goes beyond gambling and so awareness about Crypto can actually be done without necessarily involving gambling, also Crypto adoption may also other need the much engagement of gambling, so it is a fact that Crypto can really do without gambling coming in place or beennseen and used as a channel to create or build its own awareness. Crypto has got utility in many other sectors in which we can fetch it some good adoption without having  the seeming gambling intervention.

Crypto has got that very level of independence and definitely can strive around it's own niche, Crypto is used by so many other institutions at levels where in they make Crypto get much more credence, at some point I even think it will be okay to say that Crypto rather helped the gambling industry more than the industry at some point did to it.

[Sticky Bomb]

I don't think crypto betting would motivate anyone to invest, just as Fiat betting doesn't motivate people to save. To me it's venturing into cryptocurrency on a wrong foot, not that gambling is bad, please don't get me wrong, but getting involved in crypto through gambling would make those gamblers continue to see cryptocurrency as a gambling tool and not an investment tool that it should be, especially when dealing with Bitcoin.

[Donk1]

Yeah op definitely you are right .but  to me I believe this ideal has a huge disadvantages than it has advantages .if I may ask op apart from  gambling being another way for bitcoin adoption  is there any other potential that may influence bitcoin as we know it definitely it...It's No right ...Well to me the adoption of bitcoin in Nigeria comes form the fact that people are willing to find alternatives . That's why if there is no potential to invest then a person won't invest. and a again if people start using bitcoin to gambler, if you think of it that would give people  especially those that are not familiar with it more reasons to call bitcoin a gambling coin, why because that's what people are using it for so definitely to me it's a yes to adoption, but a no financial awareness.......

[Ambatman]

And the only thing that can make this possible is sportybet.
Like I nor still understand how this guys take dominate Nigeria youths
Like anybody wey dey bet dey use sporty.
So if sporty starts allowing crypto then it could create a quiet market for them.
The truth is e dey harder to bet for naira than dollar. Naira you know the real amount but dollar u fit deceive ur brain and nor calculate.

[HajiBagi]

I recently realized that a friend of mine has an e-wallet and uses crypto to place bets on a betting app. This made me think about how the culture of football betting with cryptocurrency in Nigeria can actually influence the way people discover, use, or invest in cryptocurrencies like Bitcoin.

Since many betting apps now allow crypto betting, football betting in Nigeria can act as a gateway, introducing many to crypto, teaching them the basics of how to use it, and sometimes motivating them to invest.

Of course, gambling with crypto is risky and can encourage impulsive trading or losses. But on the bright side, it also increases crypto awareness and adoption.

What do you think about this situation? Is it a good thing, advisable to get into, or something that’s being overlooked?

Omo, some people get mind ooh, imagine connecting my wallet to a betting app just because I wan win money, the person no know say betting na e be high risky, even to invest your money into another crypto currency better pass betting, I no talk say betting no good because na normal thing but I will never use my cryptocurrency for betting, waiting I Dey find wey go even allow that kind thing happen, I will rather use fiat wey be naira bet than be using my crypto to bet.

That your friend life don spoil like that make I no lie, because person wey Dey his right sense no go try that kind thing, so waiting be the meaning of having crypto in his wallet? Abi na for betting him keep am for there, with waiting betting Dey do person na e person go get mind go Dey use him future play, abi that your guy Dey chop bet or he get sure odd wey him Dey play?

[Sim_card]

Online casinos led to adoption of crypto in the early days. I have read many threads here in the forum how majority of early forum members used bitcoin to gamble more than fiat because then most casinos are NoKYC casinos. Crypto casinos enlighten people more about crypto and also helped in crypto adoption. The same can still happen in Nigeria even though, crypto is beyond using it for only gambling.

[EarnOnVictor]

-Snip-
What do you think about this situation? Is it a good thing, advisable to get into, or something that’s being overlooked?

First, It's difficult for me to believe that in a country like Nigeria, where there are so many gambling companies, that people will resort to gambling with crypto without knowing about cryptocurrency beforehand. This is possible in a few cases, especially when they are guided, but in reality, I believe that those who are gambling with cryptocurrency already  knows about it. So, it's their choice to invest or gamble with their crypto assets.

[Sammye3]

To start with, gambling is very risky and is not what should be advised by anyone to put all hopes on. And on the long run, the crypto world has had a lot of exposure and relevance world wide as it stands so both gambling and crypto should not be incorporated to create more crypto impact or experience.

This would be more like trading impulsively as we know how gambling works, because you would be connecting your wallet to the casino's website or app which I don't really see it as a "safe " so it's a bit insecure for me.

There are other ways of getting exposure to cryptocurrency and it's structure without entangling it with gambling.

[Jubilee58]

We are aware that many gambling sites have incorporated cryptocurrency into their sites enabling some Nigerians to gamble with cryptocurrency. This system truly exposes Nigerians to the various ways of using cryptocurrency including gambling. This system is also favouring the gambling sites more because people incure more losses in gambling than they profit and making Nigerians to loose their cryptocurrency meant for investment to these gambling sites.

As for me using your bitcoin for gambling is expensive, because you can loose it within a very short period of time and the bitcoin that would have served as an investment has just disappeared like a vapour.

Some of this gambling sites that uses cryptocurrency could also be involved in cryptocurrency investment, because they tell you the type of cryptocurrency to gamble with, and because they make more profit than losses, they are advantageous in the gambling business.

[Nightwalker(NW)]

What do you think about this situation? Is it a good thing, advisable to get into, or something that’s being overlooked?

There is no changes, it is just as we uses fiat to gamble.
What would happened will surely happened and those who wants to be addicted would sure be addicted, the only difference I found there is that you are free to make deposit without using any third-party site to make deposit to your gambling account. However, it has also increased awareness and wide range of using cryptocurrency to gamble where others do use it to trade and to do their transactions regardless of where they are from.

[ZeroVinsonN]

I recently realized that a friend of mine has an e-wallet and uses crypto to place bets on a betting app. This made me think about how the culture of football betting with cryptocurrency in Nigeria can actually influence the way people discover, use, or invest in cryptocurrencies like Bitcoin.

Since many betting apps now allow crypto betting, football betting in Nigeria can act as a gateway, introducing many to crypto, teaching them the basics of how to use it, and sometimes motivating them to invest.

Of course, gambling with crypto is risky and can encourage impulsive trading or losses. But on the bright side, it also increases crypto awareness and adoption.

What do you think about this situation? Is it a good thing, advisable to get into, or something that’s being overlooked?

You are basically asking if giving a child a gun is a good thing to get into and frankly that's not even a question, compared to alot of other countries in the world Nigeria is still a child when it comes to crypto, trying to introduce crypto as a mean to place bets won't end well as it will most certainly be abused, we have a tendency to see how far we can go with something and if we are talking about placing bets with crypto then Nigerian will push beyond what everyone else does and start burning through their crypto in bets.

[uche6215]

I don't think crypto gambling actually contributes to to Bitcoin adoption in anyway, gambling has been on the rise in the past few years it may not be unconnected with the the economic performance of the currency. Infact everyone who is gambling with crypto is aware of crypto currency and has adopted it that, is why such a person is making use of online Casinos that enables crypto currency gambling.Gambling with crypto currency is what I don't encourage people to do just imagine gambling with your Bitcoin which is a very important asset that holds a very high value, and is putting it into something of probability that only show that there is no value placed on what you suffer to get.

[Ayebabara]

I don't think crypto gambling actually contributes to to Bitcoin adoption in anyway, gambling has been on the rise in the past few years it may not be unconnected with the the economic performance of the currency. Infact anyone who is gambling with crypto is aware of crypto currency and has adopted it that is why such a person is making use of online Casinos that enables crypto currency gambling.Gambling with crypto currency is what I don't encourage people to do just imagine gambling with your Bitcoin which is a very important asset that holds a very high value, and is putting it into something of probability that will only show that there is no value placed on what you suffer to get.

Anyone who's gambling with crypto is aware of crypto but it will still help in making crypto more famous and common among everyone, even people who don't know about it but gambles will love to know about it through the help of there friends who gamble too..
 
  Crypto is an important asset so the gamble will not gamble with the full savings or investment he or she will use just a little in the cause of the game and yes crypto gambling can contribute to Bitcoin adoption if our gambles that's getting informed properly about Bitcoin.

[Josefjix]

And the only thing that can make this possible is sportybet.
Like I nor still understand how this guys take dominate Nigeria youths
Like anybody wey dey bet dey use sporty.
So if sporty starts allowing crypto then it could create a quiet market for them.
The truth is e dey harder to bet for naira than dollar. Naira you know the real amount but dollar u fit deceive ur brain and nor calculate.

Yes, you are right, sportybet get partnership agreement with Madrid if I'm not mistaken, and that they are international betting platform, since they are foreign betting app, crypto integration would be more easier and convenient.

But the problem is, will Nigeria crypto gateway be allowed by regulation? I don't think such request will be approved until Nigerian government has coincide with crypto.

[WhoYouCantKill]

Betting crypto has the tendency of introducing people to digital assets, yet it is not the safest way to learn. To mix volatile coins and gambling can force people into risky habits and making decisions emotionally. Though it helps to spread awareness, yet it equally blurs the line across investment and gambling. Therefore it is better to learn crypto through formal education, instead of betting platforms.

[Antotena]

Since many betting apps now allow crypto betting, football betting in Nigeria can act as a gateway, introducing many to crypto, teaching them the basics of how to use it, and sometimes motivating them to invest.

Of course, gambling with crypto is risky and can encourage impulsive trading or losses. But on the bright side, it also increases crypto awareness and adoption.

What do you think about this situation? Is it a good thing, advisable to get into, or something that’s being overlooked?

Apart from say stake casino wey I know say Nigerians they use very well, alot of Nigerians no dy use crypto gamble, we have alot of casino in this country already that are fiat funded and some of them don't Kyc. You just register with your phone number and you are good to gamble. I think one of the reason why we have less crypto gamblers in Nigeria is because of the conversation wahala, you will have to buy coins and withdraw them from exchange to casino, that process is hard for many people.

Wetin I know be say, a lot of Nigerians don understand wetin crypto be. I remembered during the airdrop meta time, many Nigerians dominated each project. Any project you can think of that time, Nigerians dy there because they want make one or two things. What we need now is government support, they need to unplift this baning of website from internet protocols, it's been a year since many crypto websites stop working, it's the government doing, they need to stop it.

[Cryptomultiplier]

I recently realized that a friend of mine has an e-wallet and uses crypto to place bets on a betting app. This made me think about how the culture of football betting with cryptocurrency in Nigeria can actually influence the way people discover, use, or invest in cryptocurrencies like Bitcoin.

Since many betting apps now allow crypto betting, football betting in Nigeria can act as a gateway, introducing many to crypto, teaching them the basics of how to use it, and sometimes motivating them to invest.

Of course, gambling with crypto is risky and can encourage impulsive trading or losses. But on the bright side, it also increases crypto awareness and adoption.

What do you think about this situation? Is it a good thing, advisable to get into, or something that’s being overlooked?

It is a very good way to get into cryptocurrency I must quit, because not many are ready to sit down to start learning all about crypto currency from the basics when it has no use for them at the moment.
However, in a case where they see it as a means to an end when it comes to earning passively, they would be interested and this leads into the further acquisition of the right knowledge and basic knowledge principles that everyone who is invested in crypto currency must know.
Like how to convert cryptocurrency to fiat and vice versa, how to use a wallet and safe guard it, how to use the P2p system of which is a core function of the success of cryptocurrency.