Nigerians spend N730bn on sports betting annually – Report

Drink beer worth N599.11bn in 6 months

Nigerians spend over 730 billion Naira annually on sports betting and at least two billion naira is generated daily, recent research data shows.

Data also revealed that over 60 million Nigerian punters spend over N3, 000 daily placing bet stakes. At least there are 50 betting sites in Nigeria with the number growing annually.

Respondents, who spoke with newsmen recently, said they placed bets to generate quick and easy income, and turn their passion for football into cash.

It was learnt that there are websites and online channels where predictions are sold to help punters maximise betting stakes, and populate social media. However, there are tons of fraudulent platforms.

Observers have said that the presence of betting sites and platforms online made it too easy and fuelled the desire to place stakes.

Research statistics show that over 14 million bet stakes and payments are made over the internet every day. This, however, does not affect the rate of teeming punters at offline, physical shops.

Recall that the leading betting platform, Bet9ja, took its advertising a notch higher by sponsoring the ongoing Big Brother Naija reality show.

In another development, another report has revealed that Nigerians drank beer worth N599.11 billion in six months running from January to June 2022.

The amount was captured in the financials of Nigerian Breweries, Guinness, International Breweries, as well as Champion Brew. submitted to the Nigerian exchange. This is a 31.2% increase compared to the N456.44 billion spent in the same period in 2021.

In the industry analysis of their revenue growth from January to June 2022, Prime Business Africa gathered Nigerian Breweries, Guinness Nigeria, International Breweries and Champion Brew generated a combined N599.11 billion.

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