Betting and Gambling in the Nigerian Economy

Betting and in general gambling has been part of the Nigeria economy as far back as early 1960’s. The early form of betting which is still in existence till today but not much as popular as the others is pool betting. Pool betting is a form of sport betting which base on the outcome of the football match which were played in England or Scotland. What they commonly bet on is a draw -the meeting team that will play a draw- which can either be 0-0,1-1, 2-2 even more. The moment a bettor is able to predict a draw correctly he or she wins and note with pool betting a draw is not predicting on a match but on three matches at minimum for a weekend, pool betting is a weekly gambling in Nigeria. A bettor could choose to bet on five match but say perm three from five, that means any three games from the five he choose that draw should be counted.

During the reign of pool betting almost all the Nigeria streets has one, two or more kiosk where the bettor could played and submit their form. The irony part of it was that the Lebanese, the Indian and some European living in Nigeria were more in the business than the Nigerian.

Later in the early 70’s until now come lotteries in various form. The state, the national government and some money bag private organization are given license to run lottery. National Lottery Regulatory Commission is the body that regulate lottery activities in Nigeria and the National Sport Lottery is the nation lotto flag bearer. Lottery in Nigeria could be play twice a week -Wednesday and Saturday and twice a day -morning and afternoon using ticket bought on which the numbers to be played are printed.

Sport betting is just making a wave in the country, many bookmakers are opening shop on daily basis accepting sport betting from the bettors. One can bet on local league or international or both at once and those games must be played a day or more days, because of the enormous access to the internet a betting could be made online. A bettor could bet winning, range of total scored and more.

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