Warning: set_time_limit(): Cannot set max execution time limit due to system policy in /customers/b/b/b/brandspurng.com/httpd.www/wp-config.php on line 92 About 40% of Nigerians Engage in Gambling in The Country - Brand Spur

About 40% of Nigerians Engage in Gambling in The Country

Must Read

- Advertisement -

Abuja, Nigeria. September 16th, 2019 – Nigeria is one of many countries that is being inundated with sports betting. The Nigerian sports betting (online and offline) and gaming industry has grown geometrically in the past few years. This remarkable growth can be attributed to the country’s population and increased access to the internet via enabled internet devices such as mobile phones, tablets, laptop, desktops etc.

According to statistics, about 60 million Nigerians between the ages of 18 and 40 are involved in active sports betting. On average, these punters spend roughly ₦3,000 Naira every day on bets. For instance, a data report from Klynveld Peat Marwick Goerdeler (KPMG) in 2016 revealed that a leading sports betting company in Nigeria makes an average monthly turnover of $10 million dollars. Sport betting shops can now be spotted in almost every street in Lagos and new ones are popping up daily. Gambling in Nigeria is regulated by the National Lottery Regulatory Commission (NLRC) and it is worthy to note that all forms of gambling are restricted from all residents of Nigeria below 18 years.

Given this background and the commencement of the 2019/2020 football season especially in Europe, NOIPolls presents findings from its past poll on gambling. The poll, which was conducted in the week commencing July 17th, 2017, assessed the opinions of Nigerians regarding the prevalence, knowledge and possible reasons some Nigerians engage in gambling. The finding revealed that most Nigerians believe that gambling is becoming very popular in the country, particularly amongst the country’s bulging youth population and sports fans.

A significant proportion of Nigerians polled (77 percent) attested to the high prevalence of betting and gambling in their locality; particularly amongst respondents in the South-West (92 percent) and South-South (91 percent) geo-political zones which recorded the highest prevalence. Similarly, gambling has become a growing trend amongst young Nigerians aged between 18 – 35 years, who accounted for the highest proportion of Nigerians who engage in the practice. According to a report by News Agency of Nigeria (NAN), about 60 million Nigerians between the ages 18 and 40 years spend up to N1.8 billion Naira on sports betting daily with an average investment of N3,000 Naira per day.

- Advertisement -

Furthermore, in terms of active participation, 36 percent of those polled admitted that they personally engage or have family members who engage in betting; with more than half of this group of respondents (53 percent) engaged in daily betting. On the other hand, 60 percent of this same group reported that they win a bet ‘few times a month’, while 8 percent revealed that they have ‘never won a bet’. In addition, the poll highlighted that people prefer betting platforms that offer timely redemption of winnings, favourable odds on games, reputation for prompt payment and are easy to use. Finally, respondents identified reasons why Nigerians engage in betting and gambling to include: ‘quest for quick money’ (30 percent), ‘high rate of unemployment’ (21 percent) and ‘greed’ (15 percent) amongst other reasons.

Analysis across geopolitical zones shows that the South-West zone recorded the highest prevalence (92 percent) while the North-East zone had the lowest prevalence (58 percent). Betting has become a growing trend among youths in the country as the findings also revealed that those aged 18 – 35 years accounted for the highest proportion of Nigerians who engage in it.

The chart below showed that a large majority (77 percent) stated that gambling is prevalent in Nigeria. Residents from the South-West zone (92 percent) had the highest prevalence, while the North-west zone (57 percent) recorded the lowest prevalence. Interestingly, analysis by age-groups shows that those aged between 18 – 35 years recorded the highest percentage (79 percent) of respondents who stated that betting in Nigeria is prevalent.

Read Also:  Sports Betting Is Thriving In Enugu With 5m Daily Transactions Worth N2bn

About 40% of Nigerians Engage in Gambling in The Country - Brand Spur

- Advertisement -

The poll also sought to measure the proportion of Nigerians who are involved in betting; and analysis revealed that nearly 4 in 10 Nigerians (36 Percent) actually engage in some form of betting and those aged between 18 – 35 years accounted for the largest proportion (41 percent) of Nigerians in this category. This finding is in line with the report from News Agency of Nigeria (NAN) which stated that Nigerians aged (18-40) years are most likely involved in betting. On the contrary, a larger proportion of the respondents disclosed that they do not engage in or have a family member who engages in betting. It is worthy to note that some of these respondents may outrightly refuse to disclose their participation due to societal stigmatization.

The survey sought to determine the frequency of Nigerians who actually engage in betting and analysis revealed that more than half of the respondents (53 Percent) disclosed that they bet or stake games on ‘daily’ basis.  While 39 percent engage in it ‘a few times a month’, a meagre one percent say they rarely engage in it.

About 40% of Nigerians Engage in Gambling in The Country - Brand Spur

In the same vein, a further probe established that majority (60 percent) of the respondents disclosed that they only win ‘a few times a month’, this is followed by 29 percent who win ‘a few times in a week’. While 8 percent claimed that they have ‘never’ won any bet, 3 percent indicated that they win ‘daily’.

- Advertisement -

About 40% of Nigerians Engage in Gambling in The Country - Brand Spur

In order to ascertain the factors that influence the choice of betting platforms adopted by the betting population, findings reveal that 26 percent mentioned ‘timely payment’ as the main factor that influences their choice. This was closely followed by respondents who believe it is the ‘odds/stake placed on a game’ (24 percent). Other determinants mentioned include ‘reputation for payment’ (21 percent), ‘ease of use’ (15 percent) among others.

About 40% of Nigerians Engage in Gambling in The Country - Brand Spur

Finally, analysis of results revealed ‘quest for quick money’ (30 percent), ‘Unemployment’ (21 percent) and ‘greed’ (15 percent) topped the list of reasons why Nigerians engage in betting. Other reasons include; ‘to cushion the effect of economic hardship’ (12 percent), ‘poverty’ (10 percent), ‘just for fun’ (5 percent), ‘passion for sports’ (5 percent) and ‘peer group influence’ (2 Percent).

About 40% of Nigerians Engage in Gambling in The Country - Brand Spur

In conclusion, this poll findings have revealed the rising trend of gambling in Nigeria, especially among the country’s bulging youth population. Sadly, according to the respondents, this trend is driven by the quest for quick money, unemployment, greed and economic hardship amongst others.

However, our concern is that while gambling may serve as an avenue to pool surplus funds from the economy for savings and investment purposes, the side effects of this practice on the population, especially youths may have a negative multiplier effect on the country. Gambling has been found to be quite addictive and can stimulate further social vices if not properly managed. It has ruined homes, marriages and rendered people bankrupt; hence there’s need for proper sensitization on the negative effects of gambling. Finally, it is important for regulatory bodies such as the National Lottery Commission to step up its regulatory efforts to ensure that the practice is not abused and exposed to young people, especially teenagers.

- Advertisement -
spot_imgspot_img

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Read Also:  Sports Betting Is Thriving In Enugu With 5m Daily Transactions Worth N2bn

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

About 40% of Nigerians Engage in Gambling in The Country - Brand Spur

Trend Micro Placed in 2021 Magic Quadrant for Endpoint Protection Platforms

Recognized for Completeness of Vision and Ability to Execute

 

HONG KONG SAR - Media OutReach - 13 May 2021 - Trend Micro Incorporated (TYO: 4704; TSE: 4704), a global cybersecurity leader, today announced that it has been positioned by Gartner as a Leader in the Magic Quadrant for Endpoint Protection Platform for its offering, Trend Micro Apex One. The evaluation was based on specific criteria that analyzed the company's overall completeness of vision and ability to execute.


Trend Micro is continually innovating and anticipating emerging threats. Our flagship Apex One endpoint protection platform features broad coverage against today's most critical threats. Our customers are protected using a range of techniques including virtual patching, which immediately protects against exploits until the vendor patch is applied.


Read the full Magic Quadrant for Endpoint Protection Platform report at: https://resources.trendmicro.com/Gartner-Magic-Quadrant-Endpoints.html

"The endpoint has become a key battleground as determined threat actors try to take advantage of the pandemic to target distributed workforces and vulnerable remote access infrastructure. But throughout this difficult period, we've been there for our customers," said Wendy Moore, vice president of product marketing for Trend Micro. "I'm delighted to see us recognized again for doing what we do best: Protecting global organizations through innovative, cloud-first and platform-based security. We will continue to focus on offering simple, robust and industry-leading protection through our cybersecurity platform."

At the heart of the company's cybersecurity platform is Trend Micro Vision One, which delivers visibility and XDR using telemetry from Apex One in addition to email, servers, cloud workloads and networks for faster detections and investigations.

Magic Quadrant reports are a culmination of rigorous, fact-based research in specific markets, providing a wide-angle view of the relative positions of the providers in markets where growth is high and provider differentiation is distinct. Providers are positioned into four quadrants: Leaders, Challengers, Visionaries and Niche Players. The research enables you to get the most from market analysis in alignment with your unique business and technology needs.

* Gartner disclaimer: Gartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.


About Trend Micro

Trend Micro, a global cybersecurity leader, helps make the world safe for exchanging digital information. Fueled by decades of security expertise, global threat research, and continuous innovation, Trend Micro's cybersecurity platform protects hundreds of thousands of organizations and millions of individuals across clouds, networks, devices, and endpoints. As a leader in cloud and enterprise cybersecurity, the platform delivers a powerful range of advanced threat defense techniques optimized for environments like AWS, Microsoft, and Google, and central visibility for better, faster detection and response. With 7,000 employees across 65 countries, Trend Micro enables organizations to simplify and secure their connected world. www.trendmicro.com.hk


#TrendMicro


About 40% of Nigerians Engage in Gambling in The Country - Brand Spur
- Advertisement -
spot_imgspot_img

Latest News

Trend Micro Placed in 2021 Magic Quadrant for Endpoint Protection Platforms

Recognized for Completeness of Vision and Ability to Execute

 

HONG KONG SAR - Media OutReach - 13 May 2021 - Trend Micro Incorporated (TYO: 4704; TSE: 4704), a global cybersecurity leader, today announced that it has been positioned by Gartner as a Leader in the Magic Quadrant for Endpoint Protection Platform for its offering, Trend Micro Apex One. The evaluation was based on specific criteria that analyzed the company's overall completeness of vision and ability to execute.


Trend Micro is continually innovating and anticipating emerging threats. Our flagship Apex One endpoint protection platform features broad coverage against today's most critical threats. Our customers are protected using a range of techniques including virtual patching, which immediately protects against exploits until the vendor patch is applied.


Read the full Magic Quadrant for Endpoint Protection Platform report at: https://resources.trendmicro.com/Gartner-Magic-Quadrant-Endpoints.html

"The endpoint has become a key battleground as determined threat actors try to take advantage of the pandemic to target distributed workforces and vulnerable remote access infrastructure. But throughout this difficult period, we've been there for our customers," said Wendy Moore, vice president of product marketing for Trend Micro. "I'm delighted to see us recognized again for doing what we do best: Protecting global organizations through innovative, cloud-first and platform-based security. We will continue to focus on offering simple, robust and industry-leading protection through our cybersecurity platform."

At the heart of the company's cybersecurity platform is Trend Micro Vision One, which delivers visibility and XDR using telemetry from Apex One in addition to email, servers, cloud workloads and networks for faster detections and investigations.

Magic Quadrant reports are a culmination of rigorous, fact-based research in specific markets, providing a wide-angle view of the relative positions of the providers in markets where growth is high and provider differentiation is distinct. Providers are positioned into four quadrants: Leaders, Challengers, Visionaries and Niche Players. The research enables you to get the most from market analysis in alignment with your unique business and technology needs.

* Gartner disclaimer: Gartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.


About Trend Micro

Trend Micro, a global cybersecurity leader, helps make the world safe for exchanging digital information. Fueled by decades of security expertise, global threat research, and continuous innovation, Trend Micro's cybersecurity platform protects hundreds of thousands of organizations and millions of individuals across clouds, networks, devices, and endpoints. As a leader in cloud and enterprise cybersecurity, the platform delivers a powerful range of advanced threat defense techniques optimized for environments like AWS, Microsoft, and Google, and central visibility for better, faster detection and response. With 7,000 employees across 65 countries, Trend Micro enables organizations to simplify and secure their connected world. www.trendmicro.com.hk


#TrendMicro


About 40% of Nigerians Engage in Gambling in The Country - Brand Spur
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -spot_imgspot_img