Why gambling is on the rise in Nigeria

Nigeria the most populated country in Africa, is known to have the largest population of youth in the world with a median age of 18.1 years. Stats shows that 70% of the Nigerian population is under 30, and 42% is under age 15.

However, the country has seen an increase in gambling activities in recent years. This is due to the high increase in online betting platforms, shops and casinos offering diverse gaming options such as sports betting, lotto games, and many more.

The Nigerian betting industry is valued at about $2 billion at 2020, has attracted both domestic and international investors. The betting industry has a source of goverment revenue.

Despite this, these betting platforms have done more harms than good to the Nigerian youths, Here's why:

Economic challenges, that is high inflation, unemployment and extreme poverty have made Nigerian youths to look for get rich schemes which gambling offers with eye watering offers which promises instant wealth but isn't the reality.

The advancement of technology has made betting platforms easily accessible. Underage youths can register on a betting platform without any verification, which shows that youths between the age of 15-17 do engage in gambling activities. Football, in particular is a very popular sport in Nigeria, which betting platforms allow their fans to bet on their favourite teams and players to earn potential money.

Another reason is popular influencers use their social media platform to promote and make betting look lucrative after been paid pennies to mislead the youths of potential games they will play with high stake, which in turn influences the youth to participate.

With all the listed factors, gambling has a big consequence on the Nigerian youth. Addiction, which is a major problem that affects individuals families and communities. Financial setback which leads to debts and economic hardship. Gambling adiction leads to social problems such as crime, depression, anxiety.

The rise of gambling is a complex issue, while it provides entertainemnt and economic benefits, it comes with associated risks. The Nigerian Goverment should find ways to curb gambling rise in Nigeria. Employment is the major solution to curbing gambling as many seek for rich quick schemes. The Nigerian national assembly should strengthen gaming regulations and oversight. Operators should promote responsible gaming practices. With the best practices Nigeria can mitigate the negative impact of gambling rise.