Seven Persistent Problems Behind Nigeria’s Betting Craze

With one in four Nigerians tucking away betting slips neatly in their back pockets to some of the biggest Nigerian celebrities bagging endorsement deals fronting sports betting brands, Nigeria’s sports betting industry looks like it’s riding high. But behind the growth stats and flashy ads are quiet cracks: gaps in data, blind spots in consumer protection, and habits we’ve normalised without thinking twice. Iyke Bede pinpoints seven issues that deserve more attention

The data mirage

‘Over 60 million Nigerians bet regularly.’ You are probably familiar with this line by now. It’s a stat that’s been floating around since at least 2016 and has been repeated in media reports and white papers. But it rarely changes—and no one’s been able to verify it. Considering how many platforms now operate in the space and the millions of app downloads some brands claim, that figure is suspiciously low. Without publicly available user data from either regulators or operators, most numbers come from auditing firms making educated guesses. The truth? We don’t know how many people are betting—or how much they’re really losing.

The teen trap

Underage betting remains a problem. ID checks are either too easy to bypass or simply not enforced. A teenager can walk into a shop or use someone else’s phone and start playing with little resistance. Online platforms say they have KYC measures, but these systems rely on self-reporting in an industry without a central identity database shared by operators. It’s a loophole anyone with basic tech literacy can exploit. The law says 18 and above, but in reality, the gate is wide open.

Primetime seduction

From TV shows to football matches and even comedy skits, betting ads are everywhere and rarely carry any real warning. The messaging is clean, exciting, and often geared towards young people looking to ‘change their story.’ There’s no restriction on time slots or content categories. Viewers as young as 10 are regularly exposed to betting messages without context or caution. That’s a problem, especially in a country with low financial literacy.

One wallet, two addictions

Fintech apps now make it effortless to deposit and withdraw from betting platforms. On the surface, it’s just modern convenience. But it also turns gambling into an invisible expense. There are no prompts asking, ‘Are you sure?’ or warning signs when things spiral. You can spend hours chasing losses without ever leaving your wallet app. For many users, the lines between betting and banking have completely blurred.

Betting as hustle culture

For a growing number of people, betting is no longer just fun—it’s a survival plan. With rising unemployment and inflation, staking on games is now seen as a legitimate hustle. That mindset changes everything. The emotional toll increases when people see betting as their main financial hope. Losses don’t just sting—they spiral into frustration, anxiety, or worse. When everyone’s chasing a ‘sure ticket’, it becomes harder to talk about the risks.

The blurred lines between betting and entertainment

Some of Nigeria’s biggest pop culture moments now feature betting brands front and centre. Whether it’s music videos, influencer skits, or reality shows, betting has gone from being a sponsor to being part of the story. This heavy integration has normalised gambling as a lifestyle rather than a financial risk. When artistes and influencers position betting as a casual, everyday act, it further chips away at the seriousness of what’s being promoted.

Regulation in transition

Following the Supreme Court ruling that handed control to state governments, the industry is still finding its regulatory footing. There’s now a push for a central gaming bill to harmonise policies, apportioning all online and remote gaming activities under federal oversight, ignoring the Supreme Court’s ruling and testing the waters to see what budges. Indeed, the industry is thriving, but growth without structure is a risk. Until these issues are openly addressed, Nigeria’s betting boom remains lopsided: profitable for a few and problematic for many, even if the nascent industry’s immediate ramifications are not yet felt.