The Nigerian online newspaper, DailyPost.ng, reports that Nigerians spend up to 1.8 billion Naira ($11.1 million) per day wagering on a variety of sports. Nigeria, one of the biggest countries in Africa and home to one of the largest growing populations in the world, has a population of about 175 million people, which makes it into one of the biggest new markets in sports betting.
The investigation reports that men between the ages of 18 and 40 average about N3,000 ($18) per day, but the vast volume of bettors makes it into a very big industry in a country where half the country lives off less than $2 per day.
The large group of unemployed youths in Nigeria seek out online betting, gambling and other forms of income in order to provide a living for themselves and families. While the report also states that many youngster end up in trouble due toe lending money a large group has also done quite well for themselves.
The chief executive officer of the Lagos State Lottery urged the Federal Government in a statement that they should create a more enabling environment for operators to increase the industry’s revenue and create jobs for youths.