Why do people bet? Specifically, why do Nigerians bet?
Sports betting is prominent in Nigeria, with Nigerians spending thousands of naira betting on
sports like football and coming in large numbers to offline and online betting platforms.
You see, to understand why people bet globally or why it seems very prevalent in a single
country, you’ll have to look at this topic in all of its entirety.
This means, to consider – how they choose a bookmaker, how is spent on betting, which sports is
bet on more, who is betting more in a particular location, etc.
These questions and more is what this our article on Online Betting Survey 2022: Understanding
Why People Bet seeks to answer in clear terms. For it, we have prepared a list of the top online
betting statistics in Nigeria and global online betting statistics as well.
Top Global Online Betting Statistics
- Around 1.6 billion people gamble globally, meaning 26% of the world’s population bets.
- 35% of the total gaming industry is made up of betting.
- The best bet on sporting events in the world is the world cup. In 2018, around $136
billion was placed in bets on the World cup. - In 2019, the estimated gambling market size was USD 53.7 billion, it is expected to grow
to USD 59.6 billion in 2022. - The global betting industry’s estimated worth is $450bn.
- The UK gambling industry’s estimated worth is $18billion.
- In 2019, Europe dominated the online gambling market with a 41.0% share. This
facilitated the legalization of gambling in France, Germany, Spain, Malta, and Italy. - Top countries with the highest betting losses per adult are Australia ($1,788), Singapore
($1.174), Ireland ($588 ), and Canada ($568). - The USA gambling industry’s estimated worth is $240 billion.
- The USA’s estimated global gross win is $74.39bn.
- In the USA, billion people gamble at least once annually.
- 15% of Americans gamble at least once per week. An approximate of 2-3% of Americans
fit the group for gambling problems – 6 million adults and half-million teenagers. - An approximate of 85% Americans gambled once in their lives, 80% gambled in the
previous year.
Credit: (Bettingsites24)
Top Online Betting Statistics in Nigeria
These statistics for the top online betting statistics in Nigeria , combine findings on some key
areas that influence bettor behavior and typically why people bet.
We focused on areas like which age grade bet the most in Nigeria, demographic (gender), and
why Nigerians bet.
- Sports betting is more prevalent with 60 million Nigerians aged 18 to 40
● The 60 million Nigerians that bet the most, bet N3,000 daily.
● 77% of Nigerians that bet, admit that betting and gambling are common in their localities.
● The South-West geo-political zone had the most bettors in Nigeria with 95% bettors,
followed by South-South 91%, and North-West with the lowest number, accounting for
only 57% of bettors.
● 36% of bettors agree to actively participating in betting or having a family member who
does. 55% bet daily, 63% bet occasionally doing so once or twice monthly, and 9% of
bettors have never won a bet.
● Lagos is Nigeria’s largest gambling city, housing 1 gambling facility, 10 table games, 106
games, slots, and video poker machines. - Men have a higher betting rate than women
● Men are usually more passionate about sports than women, and are most likely to take
risks betting on sports.
● Men bet more than women in 2021 and are predicted to do so again in the year 2022.
● Female gambling has grown over the years, despite a higher number of male gamblers.
Women account for over 10.6% of Nigerian internet bettors.
- Nigeria’s sports betting industry is predicted to grow to a worth of over $750 billion.
So, who is contributing to this growing amount?
● Nigerian bettors spend an estimate of N3,000 daily betting on sports.
● Despite having only 3 licensed casinos in 2021, the Nigerian casino gaming industry is
expected to pull in up to $70 million.
● A market study in 2018 showed that Nigeria, Kenya, and South Africa pulled in a
combined sports betting market of up to $50 billion.
● An estimated total of $2b is spent on sports betting in Nigeria daily. - 40% of Nigerians gamble because they want quick cash
A 2019 NOI Poll survey of gamblers showed that:
● 30% of bettors do so for quick cash. And although this percentage grew over the years,
the reason hasn’t changed.
● 25% of bettors listed Nigeria’s unemployment rate of 7.8%, as the reason why they
gamble on casino games.
● In 2021, people gambled because of money. In 2022, the pattern was repeated.
● 85% of people say they bet to increase their wealth. - Gambling is prevalent in Nigeria because of access to internet betting and gambling
● Up to 60% of Nigerians use the internet, a number enabled by low personal computer and
mobile phone prices.
● Another factor mentioned for Nigeria’s gambling habit is the unrestricted access to
internet betting and gambling.
● Many Nigerians view gambling as a mild pastime that does no harm, this is why 40% of
Nigerians have gambled and 54% currently gamble daily.
- 26% of bettors say that timely payment of betting earnings is a major reason why they
will pick a Football prediction site
● Over 14 million bet stakes and payments are made on the internet daily.
● Up to 1200 offline visitors monthly, go to bet in an offline betting outlet.
● Bet9ja is the second most visited prediction site for football in Nigeria and the first most
visited online betting website.
● Bet9ja’s average monthly turnover is estimated to be over $10 million, while NairaBet
brings in an average monthly turnover of $3m-$5m, a 20-30% profit margin.
● Football trading accounts for over 70% of the sports betting trade.
Gotten from: (Global Times NG )and (Betting Sites 24)
Sports betting is the most common type of gambling in Nigeria, but casino games seem to be
gaining ground, thanks to more bettors finding high-quality slots on foreign sites. As betting
becomes more normalized, both industries will experience growth.
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