Gambling online is an appealing extra source of income for more and more young Nigerians struggling to make ends meet in the battered economy.
The notable rise in sports betting in Nigeria can be put down to several factors, including the wide availability of smartphones and advanced mobile applications that guarantee privacy.

“Football is a widely loved sport in Nigeria and fans, both young and old, think that they have watched the games for so long that they are able to predict the patterns or likely outcomes of various football matches,” says Tomiwo Ojo, a sports journalist in Nigeria.

Betting is not new in Nigeria; it dates back to the colonial days. Premier Lotto, founded by Kessington Adebukunola Adebutu in 2001, was the first indigenous gaming company in Africa’s largest economy. Sports betting gained momentum in 2009 with the establishment of Nairabet.

An estimated 33% of Nigeria’s 223 million population is between the ages of 10 and 24 according to a database compiled by the UN Population Fund.

Ailing, failing economy
Nigeria’s inflation stands at 27.3%, hitting an 18-year high in September 2023 with a record food inflation of 31.5%. Fuel prices have more than tripled since the federal government removed subsidies in May 2023.

Although a revised methodology resulted in a massive drop in the country’s unemployment rate from 33.3% at the end of 2020 to 5.3% as of the first quarter of 2023, poverty figures remain high. Some 63% of the population is multidimensionally poor, according to a poverty index published by the National Bureau of Statistics.

The large youthful population has turned to sports betting in hopes of quick cash to make ends meet.

“Youths roam the streets of major cities in the country trying to earn a living. Social investment programmes where the government pays youths between N20,000 and N30,000 have been short-lived so they have turned to sports betting as a temporary fix,” says Yelwa Mohammed, a professor of financial economics at the University of Abuja.

“It is a way of earning income that has become popular over the past three to four years. Although it is not a sustainable source of income, it is safer than getting engaged in criminal activities.”

Endorsement from idols
Although Nigeria is a highly religious environment, sports gambling companies have carefully avoided the ‘immoral’ stigma associated with the activity by engaging football and music stars as brand ambassadors.

Augustine ‘Jay Jay’ Okocha, a former captain of the national football team, Super Eagles, is one of the brand ambassadors for BetKing, a popular sports betting company in Nigeria.

Sporty Bet, a rival company, has enlisted Nigerian football icon Kanu Nwankwo and his Ghanaian counterpart, Michael Essien, as ambassadors.

Apart from these celebrities, other gambling influencers also thrive on various social media platforms.

“An interesting trend is that people have seen a window to become gambling influencers and social media is their preferred platform. Once they circulate evidence of winning a substantial amount of money in the past, they quickly build a large following and communities on WhatsApp and Telegram,” Ojo tells The Africa Report.

“Companies engage these gambling influencers who help direct traffic to their platforms. Adverts on popular sporting channels also create top-of-the-mind awareness for these companies.”

These companies enjoy huge patronage from 65 million active customers who spend an average of $15 (around N11,800) daily on bets according to the National Lottery Trust Fund. The number of licensed betting companies in Nigeria has increased by over 500% from 10 operators in July 2019 to 57 in November 2023.

Most Nigerians see as a means to survive since jobs are not forthcoming.
I have seen many rich guys playing bet