In a small sports bar in Ojodu, Lagos, a group of young men huddle around a screen, not to watch the match, but to refresh their Bet9ja slips. One of them stares blankly at his phone. He just lost ₦20,000, money meant for his sister’s school fees. His story isn’t unique. Sports betting is the new normal.
Across Nigeria, sports betting has become a multi-billion-naira industry. But behind the flashing ads, celebrity endorsements, and promises of instant wealth lies a darker truth: millions of Nigerians are betting not just for fun, but for survival.
Betting is booming. But at what cost?
Nigeria’s betting industry is booming. Over 60 million Nigerians aged 18 to 40 actively engage in sports betting, with the market generating more than ₦730 billion annually. The country is one of the largest betting markets in Africa, powered by a youthful, mobile-first population and widespread smartphone access.
The average bettor in Nigeria places wagers of ₦3,000–₦5,000 daily, often across multiple platforms like Bet9ja, SportyBet, BetKing, and 1xBet. The low entry barrier, combined with aggressive marketing, has made it nearly impossible to escape the grip of online gambling.
However, what makes this explosion more alarming is that it’s happening at a time when Nigeria’s economy is far from healthy.
When the economy tanks, betting rises
In 2024, Nigeria’s economic conditions worsened, as the naira underwent multiple devaluations, food inflation surpassed 40%, and unemployment among young people remained at around 33%, according to the National Bureau of Statistics (NBS). Real disposable income is down, yet the betting boom continues to grow. Why?
A May 2023 report from SBM Intelligence noted that for many Nigerians, betting has become a “micro-investment strategy,” particularly among unemployed or underemployed youth. In other words, betting is not a game; it’s a side hustle.
“I bet every day. If I don’t, there’s nothing else to hope for,” says a 26-year-old bettor who spoke to Business Elites Africa anonymously.
The emotional framing of betting as a “chance out of poverty” has made it a psychological coping mechanism amid rising despair.
The addiction crisis no one is talking about
The signs of problem gambling are everywhere: debt cycles, anxiety, broken relationships, and even suicides. Yet, there’s barely a national conversation on the dangers.
In 2022, a report by NOI Polls revealed that 53% of regular sports bettors in Nigeria don’t set any spending limits, and 32% borrow money to place bets. These are not recreational patterns; they’re symptoms of a crisis.
Mental health advocates are increasingly warning about gambling addiction in Nigeria, particularly among young people. Recent concerns have highlighted the risks of chasing losses, financial strain, and mental health problems, and recommend stronger responsible gaming measures, including deposit limits and self-exclusion tools.
From a neuro-psychological perspective, this aligns with established science: the DSM‑5 now classifies gambling disorder alongside substance use disorders, recognising that gambling can trigger similar reward mechanisms and addictive pathways as drugs.
According to psychiatrist Dr. Bright Oris-Ohwerhi, gambling hijacks the brain’s reward system.
“A hormone called dopamine is released…when someone gambles and wins, or during the act of gambling,” he said. “It makes gambling the only activity through which they can experience pleasure.”
Even more troubling is the lack of support structures. The Federal Neuro-Psychiatric Hospital in Yaba, Lagos, the nation’s largest mental health facility, has no dedicated program for gambling addiction.
Are betting companies exploiting Nigerians?
To the public, betting companies are cultural patrons, sponsoring football teams, comedy shows, music concerts, and CSR programs. Bet9ja sponsors the Nigeria Women’s Football League; BetKing backs youth sporting events.
But critics argue that these gestures are dwarfed by the billions spent on aggressive marketing. Online betting platforms bombard users with push notifications, influencer videos, referral bonuses, and near-win teasers that keep users hooked.
A 2021 investigative report by Premium Times revealed how betting firms use psychological hooks, like free first bets and low initial deposits, to lure young users into long-term gambling behaviour.
“The increasing accessibility of sports betting through mobile apps and websites only exacerbates its addictive potential,” a 2024 research paper titled Online Sports Betting: Protecting Users From Increasing Odds of Addiction noted.
Weak regulations, big Loopholes
Nigeria’s sports betting regulation is outdated. The key law, the National Lottery Act of 2005, was designed long before mobile betting apps and digital wallets existed. The National Lottery Regulatory Commission (NLRC) has limited oversight on digital betting activities, especially for foreign-owned platforms operating from offshore domains.
In comparison, Kenya imposes a 35% tax on betting revenues and has banned gambling ads during daytime hours. South Africa’s Western Cape Gambling Board requires real-time age verification.
Nigeria, on the other hand, has few deterrents. Teenagers routinely access betting apps using fake IDs. Some platforms even offer wagers as low as ₦10, making it easier for addiction to flourish.
Who’s paying the price?
It’s not just individual bettors losing money; it’s families, communities, and the broader economy that suffer. Instead of investing in businesses, education, or long-term assets, millions are funnelling their scarce earnings into a black hole of low-odds gambling.
Even banks are affected. In 2023, several Nigerian banks flagged excessive transfers to betting wallets in their anti-fraud risk metrics, as they were concerned by the volume and pattern of transactions that resembled triggers of financial instability.
What can be done?
- Update regulatory frameworks: Laws must evolve to cover mobile and cross-border betting platforms.
- Introduce mandatory limits: Betting platforms should be required to offer self-exclusion options, spending caps, and transparent win-loss tracking.
- Launch public awareness campaigns: The government and civil society must invest in educating the public about the risks of gambling.
- Invest in addiction support: Create clinics or hotline systems for those struggling with gambling dependence.
Betting is a mirror
Sports betting in Nigeria is not just a moral issue; it’s an economic symptom. A generation has been pushed into desperation, and the betting industry has capitalised on it.
As long as Nigeria’s economy fails to offer real hope, fake hope will continue to thrive.
Editor’s Note: We reached out to some of the leading betting firms operating in Nigeria for comment on their advertising practices and addiction policies. At the time of publication, no responses had been received.