Most of us have grown up with gambling lore that left us petrified to our core. Gambling ruins lives, gives rise to financial and legal problems.
This is all that we have grown up learning. However, this is only partly true and must not be taken too seriously. Sure, gambling has its disadvantages and evils.
However, the activity, in its entirety, is not addictive. It is what humans make out of it. Human beings give up self-control and spiral into a bottomless pit of despair due to that.
Gambling, when indulged in appropriately, does no harm. In fact, it is one of the biggest industries and contributes significantly to the global economy.
The moot point of this article is to have a look at the betting industry of Nigeria. While we do that, we shall also examine how much the industry contributes to the economy of the nation.
Therefore, let us now have a look at the industry and venture a few important points throughout the article.
How Does the Betting Industry of Nigeria Look Like?
The gambling industry of Nigeria resides in the areas of gray. One cannot look at it in either black or white.
Gambling activities are considered illegal in Nigeria, with the exception of a few. And betting on sports happens to be one of those exceptions.
Online gambling in Nigeria is allowed only on offshore-owned and operated casinos. Locally operated casinos are not allowed to function in the land.
Now speaking of betting, one must note that the betting industry happens to be a key player in Nigeria’s economy. There are over fifty functional and legal betting sites in Nigeria.
As we mentioned before, betting is entirely legal, unlike online gambling. All those who want to gamble on sites like Usafriendlypokersites.com can do so with the use of VPNs.
Nigerians are incredibly passionate as a people about their sports. That is why the idea of making money by betting on their favorite sports has a lot of appeal.
With about 200 million people in the country, the betting industry has found a solid footing in the market. It has been estimated that over the last few decades, Nigeria has grown to become the second-largest betting market in South Africa.
Over 60 million people find entertainment through online betting sites in South Africa. Therefore, one can understand, going by the statistics that Nigeria has evolved over the last few years when it comes to betting.
Reasons for this Massive Growth in the Popularity of Online Betting:
One of the primary reasons for this massive popularity in online betting is the increase in technological innovations.
Nigeria, over the past few years, has seen technological expansion and super-fast connectivity. Almost everyone has access to smartphones now.
This is what makes it so easy for people of every age group to bet online. The constraints that the nation had in technology and connectivity are no longer an issue.
It is estimated that in the next few years, the country shall see more such innovations and expansion. This will, therefore, act further as a catalyst to the growth of the online betting industry.
The Government is Now Tightening the Noose around Online Betting to Raise Revenue:
As we already mentioned a few times before that Nigeria had strict laws related to online gambling.
The government also did not pay much attention to the betting industry. However, things have changed now and shall change further down the line.
The Nigerian government is now formulating some strict laws so that it could pull the revenue from betting into the coffers.
This is also one of the most significant reasons for the growth in Nigeria’s economy. Online betting is a lucrative industry, and we can already deduce that from we discussed.
With the government paying more attention to the industry, crime rates can be reduced, and better revenue can be raised.
If anything, the involvement of the Nigerian government shall only serve as a fresh change. Plus, with a better structure in the betting industry, more people can find jobs and livelihood.
Wrapping It Up:
We can see how the online betting industry of Nigeria has become one of the chief contributors to its economy.
Big Brother Naija star Kiddwaya has subtly fired shots at haters who have harbored hatred for him in their hearts.
Wishing his fans a happy month as December begins today, the billionaire son took to his Twitter page and said that the hate someone has for him will remain in their heart.
In his words;
“Happy new month everyone. Remember. The hate in your heart you have for other people will stay in your heart. So you can either find a way to bring a chair to the round table or continue to look through the window from the outside hating.”
Forbes has released its annual “30 Under 30” list, which features 600 young entrepreneurs who are innovating their respective industries. Since 2012, FORBES’ 30 Under 30 list has recognized the brightest entrepreneurs, innovators and game-changers under the age of 30 who are transforming business as usual and changing the world.
In its 2020 edition, the list featured 600 young entrepreneurs, activists, scientists and entertainers from 20 industries who give everyone reason to hope. Some defying the odds, building businesses despite Covid-19; others are helping to fight the illness, serving on hospital frontlines or working with A.I. to discover new drugs. According to the magazine, these under 30 trailblazers have raised over $1 billion in venture funding and are proof positive that ambition and innovation can’t be quarantined.
Among the featured individuals are these outstanding Nigerians,Sophia Danner-Okotie, Inioluwa Deborah Raji, Chiney Ogwumike, Tade Oyerinde, Amobi Okugo, AJ Okereke, Oge Mora, Nnamdi Iregbulem, to mention a few.
The Forbes “30 Under 30” list Class of 2020 is made up of 30 honorees for each of the 20 categories which vary from work in art and style to energy, finance, tech, law and more. The list is a diverse one, with 20 per cent of the featured individuals identifying as either an immigrant or first generation.
Meet the Nigerians that were featured in the prestigious list below:
Chiney Ogwumike, 28
Two-time WNBA All-Star Ogwumike is an ESPN commentator and one half of “Chiney and Golic Jr.,” the first Black woman to host a national, daily sports-talk radio show. The 6’4″ forward led Stanford to three Final Fours and graduated with an International Relations degree. She was the No. 1 overall pick in the 2014 WNBA Draft.
Sophia Danner-Okotie, 29
Danner-Okotie is the founder of Besida, a black-owned boutique and online store based in Atlanta that offers sustainable fashion for women. Besida’s pieces are sustainably and ethically made in Nigeria, where Danner-Okotie was born. The brand’s most popular design is “The FourMidable,” a design that can be worn in four ways–as three tops and a skirt. Recently, Besida was awarded a $20,000 grant from LISC underwritten by Lowe’s.
Nnamdi Iregbulem, 29
Iregbulem is a Partner at Lightspeed Ventures focused on investments in technical enterprise software, application infrastructure and machine learning. He previously invested at ICONIQ Capital, where he deployed over $500 million into high-growth technology companies like GitLab, Epic Games (Fortnite), ezCater and Brightwheel. Iregbulem began his career as an investment banking analyst at J.P. Morgan, advising clients like EMC and Comcast.
Inioluwa Deborah Raji, 24
Since high school, Inioluwa Deborah Raji has been campaigning on behalf of others. Now aged 24, she has channelled her advocacy work to change the world’s biggest companies. As a founding member of the Algorithmic Justice League, a non-profit that raises public awareness about the social implications of AI, she has emerged as one of its star researchers. One of her major projects was an audit on Amazon Recognition’s deployed facial recognition product, discovering it was significantly less accurate for darker-skinned women than for white men. Over 70 top AI researchers signed an open letter in support of her work, and this, combined with increasing public pressure and campaigning, led Amazon – following the lead of IBM – to agree to support facial recognition regulation and later halt the sale of their product to police for at least a year.
AJ Okereke, 28
An investor who backs companies bringing new services and consumer goods to Africa, including logistics provider Jetstream and digital wealth firm Chaka. A first-generation American of Nigerian descent, Okereke often backs U.S educated founder returning to the African continent with new technologies and services.
Chinedu Eleanya, 29
Eleanya immigrated from Nigeria to the U.S. with his parents when he was 11. In 2018, he cofounded his second startup, Mulberry, a tech platform that retailers use to offer extended warranties to eCommerce customers. Key clients include fitness device Mirror, coffee machine maker Breville and mattress company Nectar. Mulberry has more than 50 customers and expects net revenue of more than $1 million this year.
Amobi Okugo, 29
Okugo, a defender for Austin Bold FC of the USL, founded A Frugal Athlete to teach athletes how to manage their finances. He also runs The Ok U Go Foundation that provides athletic resources to disadvantaged children. He’s an active member of the USL’s players’ union and Black Players? Alliance.
Check out the complete list of Forbes’ 30 Under 30 for 2021.