| Products & Services |    1287 VIEWS  |
| Products & Services | |
| 1287 VIEWS | |
 |
Saturday, September 21,
2019 / 01:32PM / By NOI Polls / Header Image Credit: NOI & uselevator.net
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.[1] On average, these punters spend roughly N3,000
Naira every day on bets.[2] For instance, 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.[3]
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.[4]
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.
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[5]. 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.
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'.
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.
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).
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.
Disclaimer: This public information has been produced by NOIPolls
Limited to provide information on all issues which form the subject matter of
the document. Kindly note that while we are willing to share results from our
polls with the general public, we only request that NOIPolls be acknowledged as
author whenever and wherever our poll results are used, cited or published.
NOIPolls certifies that all the views expressed in this document accurately
reflect its views of respondents surveyed for the poll, and background
information is based on information from various sources that it believes are
reliable; however, no representation is made that it is accurate or complete.
Whilst reasonable care has been taken in preparing this document, no
responsibility or liability is accepted for errors or fact or for any views
expressed herein by NOIPolls for actions taken as a result of information
provided in this report. Any ratings, forecasts, estimates, opinions or views
herein constitute a judgment as at the date of this document. If the date of
this document is not current, the views and content may not reflect NOIPolls' current findings and/or thinking.
Footnotes
2) https://medium.com/kamari-coin/africas-sports-betting-economy-7962142b6ca2
4) https://www.vanguardngr.com/2014/08/nigerians-spend-n1-8bn-sports-betting-daily-investigation/
5) http://www.vanguardngr.com/2014/08/nigerians-spend-n1-8bn-sports-betting-daily-investigation/
Further Contact
For further information on this topic
please contact: editor@noi-polls.com
Related News
1.
EcobankPay
Hits N2bn Transactions Value; 100,000 Merchants Onboarded
2.
NSE Prepares
To Launch X-Mobile To Boost Investors Participation
3.
EcobankPay
and Ecobank Xpresspoint Agents Are Leveraging Technology To Expand Financial
Inclusion
4.
Global
Transactions Get Easier With Firstbank's Card Offerings
5.
NAFDAC-Regulated
Products Imported Into Nigeria Now To Be Processed On The Nigeria Trade Portal
6.
Digital
Transformation- Next Frontier says Standard Chartered Bank
7.
Zenith Bank
offers ZECA Education Loan for Children
8.
SEC Releases
Videos For Investors On Choosing And Working With A Financial Professional
9.
Verve Credit
Card Review: Good for Poor Credit Score
10.
Get Certified
in Wealth Management and Islamic Banking and Finance
11.
Going
Cashless This Summer with Firstbank Travel Kits
12.
Reinventing
FirstBank Through Creativity And Innovation
13.
Zedvance to
Provide Loans to non-Salary Earners
14.
Zenith Bank
Upgrades its Mobile Banking Application
15.
Zenith Bank
Launches High Interest-Yielding Target Savings Account
Signup with Facebook
Signup with Twitter
