Gaming and Betting industry remains one of the most thriving industries aside from the entertainment industry. The betting and gaming industry in Nigeria is in no small feat raking in millions of Naira for operators and owners.
Interestingly, the highest patronage comes from young Nigerians, who seem to have lost hope in the government and future. Unbelievably, there are gainfully employed young Nigerians, who are also regulars at gaming and betting stands.
Betting – most especially – defies social and, sometimes, economic status of players in the industry, most especially the bettors.
On the other hand, gaming seems to be a choice of the children of the elites and few middle class, who have been exposed to gaming culture. Gaming, the action or practice of playing video games, is fast becoming an addiction for young Nigerians.
Though professionals will readily say it is a structured industry with so many economical advantages, it should be noted that like betting, Nigeria’s ongoing socio-economic challenges, has thrown gaming in the faces of many youths, who are now turning to alternative forms of employment that allow them to harness their passion to earn a living.
According to a 2024 report, some young Nigerians are making significant strides, transitioning from playing video games at home to showcasing their skills to a global audience of millions and increasing number of people, who are becoming familiar with and embracing this facet of the video game industry, often turning to it for entertainment.
For many Nigerian youths chasing quick wealth, sports betting has become the ultimate attraction.
Daily, young men and women are seen investing significant time and resources in betting shops or staking bets online, hoping to hit the jackpot.
The advent of online betting platforms has further exacerbated the addiction, making sports betting easily accessible. With over ten popular betting platforms leveraging social media influencers to run ads, the allure is almost inescapable.
For some, betting represents a glimmer of hope in difficult economic times. Others view it as a viable business opportunity due to the commissions they earn from facilitating tickets on behalf of betting platforms.
A story of addiction
Bayo Adeshola, a self-confessed betting addict, embodies the belief many share about striking gold through betting. Despite repeated losses, he remains convinced that his breakthrough is imminent.
“I keep losing money, but I’m confident I’ll hit my first major millions soon,” Bayo shared during a conversation with friends. “It’s always one or two games that cut my ticket. If not, I’d have made about four million in one day.”
The cost of addiction
Another bettor, who chose to remain anonymous, recounted the personal and financial toll of his addiction.
“My former girlfriend despised my betting habits, but I kept making excuses, promising to stop once I hit big money. I set a target of fifty million naira, but the win never came,” he confessed.
The strain on his relationship reached a breaking point when he misused funds meant to set up a shop for his partner.
“She cried when she discovered I had spent the money on betting. She ended the relationship, saying she couldn’t trust me with her future,” he added, visibly regretful.
Betting as a business
Victor, a sports betting agent, offers a different perspective. For him, the business is less about the thrill of betting and more about the profits he earns from platform commissions.
“What matters most to me is my cut from the platform when people come to play. Patronage has reduced because people can now register and play online, but I still earn enough,” he explained.
While Victor admits to occasionally betting, he insists he knows when to stop.
The most addictive games
According to Victor, certain games are particularly notorious for draining bettors’ wallets.
“I think people lose money the most on dog races. The games are so fast that many don’t even realize how much they’ve lost,” he revealed.
Gaming providing more advantage
For gaming, it has become a trend that reflects a cultural shift towards a new era of community-driven media consumption.
Young Nigerians are not far behind the global trends of gaming, which is put at a growing $282 billion. Nigerian youths are slowly building communities broadcasting their passion to an audience fascinated by the intricacies of gameplay. Their dexterity playing popular games has helped amass them crowds with similar taste.
Indulgently, some social media platforms have become central hubs for gamers to broadcast their gameplay, interact with audiences, and build communities.
According to a study, the social media platforms attract approximately 1.2 billion active users across the video game streaming landscape cumulatively. Twitch boasts over 140 million monthly active users, with 30 million users tuning in daily. YouTube Gaming reported a total of 1.18 billion hours of content watched in the third quarter of 2022, while Facebook Gaming claims to host over 700 million individuals who either play games, watch gaming videos, or participate in gaming communities.
Just like betting, Nigeria’s ongoing socio-economic challenges have seen many youths turning to alternative forms of employment that allow them to harness their passion to earn a living including gaming.
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