Betting is the staking on the outcome of an event which has an uncertain outcome with the intent of winning additional money, betting offers the illusion of easy money yet could plunge you into deep financial crisis. Betting can be dated as far back as mankind itself. Since the inception of betting in Nigeria, in 1987 with the establishment of Premier Lotto popularly known as "Baba Ijebu" which subsequently led to the introduction of sport betting, fixed odd betting and parimutuel betting. Many Nigerian youths have gladly accepted this innovation thereby making betting a very lucrative business. It has been estimated that Nigerians spend over #1.8 billion naira daily on betting as over 60 million Nigerians place bets on different matches daily across the country.
Sport betting, this form of betting allows an individual to stake on an outcome of any sport event, the individual is offered points based on the professionalism and strength of the sport team chosen. For example Real Madrid versus Elche, Real Madrid is offered lesser point against Elche as Real Madrid has more professional players with the likes of Christiano Ronaldo, Gareth Bale, James Rodriques, etc compared to Elche. Therefore there is the possibility of Real Madrid defeating Elche. Other option in sport betting, include goal-goal, no-goal, over 2.5, under 3.5, under 1.5, over 0.5 etc were the individual predicts the number of goals in each match. In most cases a punter is allowed to stake a minimum of #100 (hundred naira) and a minimum of two games per ticket. While parimutuel betting is also referred to as virtual game, in these form of betting the individual stakes on a computer programmed football match, horse or dog race.
The number of betting outlets are on the increase daily, with bookmakers such as bet9ja, 1960bet, Surebet, 360bet, planetbet, etc, taking centre stage and creating avenues where individuals can bet on their favourite sport team conveniently. These bookmakers offer high and ridiculous odds and bonuses in order to increase patronage. Nigerian youths have also incessantly continued patronise these outlets because of the high amount of possible returns they offer. So many have been blind folded by the get-rich-quick-syndrome and have become hungry and thirsty for easy money.
The Nigerian society has been so infested by these bookmakers, as hardly is there any street in the mainland area of Lagos State without a betting outlet. Nigerian youths have increasingly embraced betting as some have subsequently resolved into betting as a means of livelihood.
These betting outlets have turned into safe havens and breeding ground where hoodlums and hooligans hangout, crime rates are on the increase in these outlets. Greed is one word that is closely associated with betting as the idea of winning large amount of possible returns induces the individual into staking huge amounts of money. After each lose, the individual feels more compelled to bet even more hoping for big win that will recover the losses. With the introduction of sport betting many Nigerian youths have become lazy and also lost interest in chasing their dreams, as they are engrossed and determined to get quick money at all cost, instantaneously ruining their dreams and ambitions. Dreams are been shattered on a daily basis as a result of betting.
Several behavioural scholars have certified that betting is not a bad thing, but it is highly condemned by many religious beliefs. Study have shown that betting can be very addictive which could also escalate into a disorder were the individuals involved finds it difficult to control their urge, betting addiction could sometimes cause emotional troubles with a high increase in anxiety and depression. Signs of betting addiction are as follow; spending more money on betting than you can afford, finding it difficult to quit betting, frequent mood swing, lie about their betting habit and hides it from others, betting until all your money is gone and constantly having betting in mind. When addicted the urge and thirst for betting is most times very difficult to resist and like every addiction this youths go the extra miles of stealing just to satisfy there craving. Most alarmingly is fact that such winnings do not last long, like stolen money "it is a flash in the palm". Those addicted to betting find it very difficult to give up on betting despite realising how harmful it is to them. Quitting betting is never an easy task, as it involves total determination. However betting as an addiction can be treated with the use of anti anxiety medications.
Written By Divinelove Udorji
For: www.afritalks.com
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