It is no new information that sports betting has become mainstream in Nigeria. Chances are you know at least one person who is actively involved in sports betting. In fact, according to NAN (News Agency of Nigeria) there are 60 million Nigerians actively involved in sports betting. That is almost a quarter of the whole Nigerian population. Furthermore this statistic involves people within the age bracket of 18-40 years old.
While some may engage in it for fun, find job positions in the sports betting injury that helps them sort their bills, we cannot deny that there are some people who have made an unhealthy habit out of sports betting.
Why do People Engage in sports betting?
- For gaming purposes/ recreational purposes
- As a means of livelihood
- Out of addiction
Regardless of the reasons, it is sure to be centered on the listed points above.
There are good sides as well as bad sides involved when you look at sports betting.
Advantages of Betting
- Let’s you test your knowledge and ability with sports.
- Gives you an avenue to make money.
- Entertainment value
- Easy to start
There are obviously very good and feel-good reasons why people would want to engage in sports betting. But there is a catch. If not carefully restrained or put under watchful eyes, something that was meant to be used as an avenue for having fun while making cash along the way can turn into a monster that might in the long run, become something really difficult to rein in.
We have looked at the advantages of sports betting to the youth population in Nigeria, it is only fair that we look at the other side of the spectrum and know the disadvantages that could be associated to addictive sports betting.
Disadvantages of Sports Betting
Here are some Disadvantages of Sports Betting
- Addiction – with everything not done in moderate proportion, it can turn to addiction. Addiction knows no bounds as it continues to grow and fester like the cancer it is. Amateurs are more gullible to addictions.
- Loss – it’s a game of chance that involves money being wagered, there is always the chance that there will be losses recorded. If you become addicted, always feel like you can recoup your losses, there’s a larger chance that more losses will be incurred. An addiction that could be full blown into losing of income or even personal savings.
- Emotional imbalance – It is no news that people who are addicted badly to something tend to have emotional imbalance of some sorts as they struggle to come to terms that they do something that might be morally or ethically wrong. The depression that might come along with losing one’s income or their savings. People who are depressed tend to lose their social skills as they slowly turn into a shadow of their former selves.
Takeaway
Sports betting along with the availability and easy accessibility of the internet has been made quite popular, and is quite frankly on a steady rise as past data suggests. There are a lot of associated benefits with sports betting, some of which this article has listed, but as associated with any game of chance that involves wager of legal tender, there is a chance of incurring losses and if not properly managed, other worse problems might arise as a result of addiction.
It is profitable to be intentional about the reason why you should involve in sports betting, but like the popular saying goes, “No risk, no reward.”
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