A recent research data shows that Nigerians spend over N730 billion annually on sports betting and at least N2 billion is generated daily.
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.
Twenty-eight-year-old fashion designer, Segun Mukoro, who bets at least once weekly, said it was the fastest way to double his income and although he might lose sometimes, the wins come big.
Mukoro said: “Yes I bet and I do so weekly, especially when there is a league playing.
“When you have been betting for long, it’s easier to know what odds to play and what teams to bet on.
“It is a guessing game and you get better with time.
“I know that it is addictive but I see it as an investment, a way to double my income.”
Similarly, 23-year-old Eronini Kolapo explained that he uses betting to augment his allowance as a student.