Sport betting: A reward for your passion?

When it comes to the matters of religion, Nigerians are nothing but devoted. And talking about religion, football and sport in general is treated like one. Our passion for sport is second to none. Even its tentacles like sports video games, sports betting, all receive similar attention. But recently, especially in Nigeria, sports betting has now taken the headline.

Popularly described as the reward for your passion by the betting companies, sports betting has grown to become the talk and trend in the sport sector and amongst Nigerians. According to premium times, about 60 million Nigerians between 18 and 40 years of age may be spending up to N 1.8 billion on sports betting daily. The investigation also showed that they commit on the average N3,000 on sports betting daily.

Aside from the existence of sports betting shops, the accessibility of online sports betting options has also contributed to its growth. An average of 14 million bet stakes is recorded daily, and it was claimed in 2019 that the country’s whole sports gambling industry was valued at USD 2 billion. The sector has expanded and will continue to do so as more online and mobile options become accessible.

Sports betting is gambling, and not investing in bank shares. But almost everything in life is a gamble, more so with money matters. With gambling comes risks because it's not 100 percent guaranteed. However, one can dramatically reduce the risks by taking calculated risks only. When you take calculated risks, the decision is only based on sound research and statistics, not intuition. Sport betting is by chance, the better informed the player is, the better the chance of making money.

While the business might provide great economic benefits, it is equally critical not to forgo mental well-being. As gambling tendency continue to expand, the leaders may confront the big problem of establishing a limit without impeding the industry’s growth. Addiction is real, and gambling is one of its playing grounds. Addicted gamblers find it difficult to forgo betting, even at the state of financial ruins from multiple losses. Losing a bet can lead to sadness, elevated blood pressure, regrets, depression, and a whole lot of negative emotions, even insanity. Though no case of suicide has been recorded on loss of bet, but the possibility is relatively high. Prolonged depression can cause death as it can lead to variety of physical health problem, and if not treated can lead to suicide.

 In the words of Jayjay Okocha, Betting is sweet, but kings know when to stop. And remember, Chances are you’re about to lose, you win some, you lose more. What’s gambling really costing you? And what are you really gambling with? Be in charge.

Alonge Razaq Adebayo