Sports betting is blinding the horizon.
The allure of gambling, whether legal or illegal, has become a common feature of the Nigerian youth culture.
The austerity and economic challenges faced by Nigerians on a daily basis seems to be a motivation to find other quick, yet suitable options that can foot the rising cost of living – that is where gambling or let’s say, sports betting comes in.
More often than not, the partaker rides his luck to victory, backing his adrenaline to a make or break point. This common denominator that many of Nigeria’s young population call ‘hustle’ is becoming manic.
Despite the recent surge in online gambling opportunities and the lack of stringent regulation, the implications of this widespread gambling culture are cause for concern.
With the growing influence of Western culture and the rapid technological advancement within the country, it is expected that issues related to gambling will only intensify in the near future.
Unfortunately, there are few effective prevention strategies in place to address these concerns.
The Gamblers’ Plight
Undeterred by the negative results of his previous gambling endeavors, Mr. Amos Achiloko ventured into a betting shop with over thirty thousand naira, harboring hopes of doubling his funds. However, Lady Luck did not favor him that day, and he not only left empty-handed but also lost his mobile phone in the process.
This unfortunate incident illustrates the often unpredictable and fickle nature of gambling, where individuals wager something of value, fully aware of the risks involved, in pursuit of a potential windfall.
The Regulatory Landscape
According to the National Lottery Regulatory Commission, Nigeria recognizes various forms of legal gambling, including lotteries, land-based casinos, and sports betting. In contrast, roulette, dice games, and non-skilled card games are categorized as illegal. While the minimum legal betting age stands at 18 years, there are no specific provisions in the law to regulate online gambling. This regulatory vacuum has paved the way for individuals of all age groups to engage in gambling, fostering an environment ripe for misuse.
Psychologist Beatrice Shina-Olunana offers insights into the negative impacts of betting, highlighting that the pursuit of monetary gain, often fueled by greed, unemployment, economic hardship, and poverty, serves as a potent motivator for gambling.
It can also serve as a slippery slope leading to criminal activities. Shina-Olunana goes further to describe gambling as
It is one of the most prominent compulsive behaviors that can escalate into a problem or even full-fledged addiction.
Alarming Statistics
Recent research conducted by PubMed, a biomedical literature database, paints a concerning picture.
Despite existing laws governing gambling in Nigeria, an alarming 57.2% of school-age children have engaged in gambling at least once in their lives. Even more alarming, a staggering 77.6% of them have gambled within the past year, with 58.3% reporting unhindered access to gambling establishments.
The Psychological Toll
The psychological ramifications of gambling in Nigeria are undeniable. It has taken a heavy toll on many individuals, leading to mental health problems and, in some tragic instances, even death.
Earlier this year, a student from the Federal Polytechnic in Ilaro, Ogun State, Samuel Adekoya, took his own life after losing not only his tuition fees but also those of a friend to online betting. The tantalizing promise of riches and the desire to recoup losses can lead individuals down a perilous path, ultimately causing irreparable harm.
The Lack of Responsibility
In stark contrast to betting companies in developed nations, those in Nigeria often neglect to implement measures to regulate gambling activities or mitigate addiction.
This raises important questions about their social responsibility and their role in addressing the consequences of their business operations.
After all…
The narrative of gambling in Nigeria is one of deception, a never-ending cycle of loss. The stakes silently mourns his losses and flexes muscle in his winning. Unlike before when gambling was a secret affair, the open corridor of the social media has allowed like minds connect, pick at their pieces or puzzles and draw prey on the mind of the innocuous. Risk it all they’ll say.
It’s a world where the stakes are never high enough, yet gamblers return time and again, risking everything for a quick win that rarely materializes.
While luck certainly plays a role in sports betting and gambling, it’s vital to approach it with caution to avoid the hidden perils of addiction and financial ruin. The allure of easy money can be a treacherous path, and understanding the risks is the first step toward mitigating the damage caused by uncontrolled gambling.
One more thing…
As Nigeria navigates the treacherous waters of the gambling industry, it is essential to consider the social, economic, and psychological impact it has on its citizens. By examining the current state of gambling in the country and its effects on society, policymakers and stakeholders can work towards implementing regulations and support systems to protect those most vulnerable to the adverse consequences of unchecked gambling.
– Tosin Popoola ( Writer, Columnist )
