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As of 2014 it was estimated that over 60 million Nigerians are involve in this practice of sport betting per day.
That is to say that around 30% of the country’s population are really engaging in staking their money for sport bet.
And the question is…
What really are these persons gaining engaging in betting activities?
Is there money in the sport betting industry?
Are people really making money in sport bet?
How profitable is the business?
Is sport betting legal?
Sport betting is one of the easiest way to make money online in Nigeria and Nigerians are actively engaging in it which has now serve as a means of daily income for many.
is Sports betting?
According to Wikipedia, Sports betting is the activity of predicting sports results and placing a wager on the outcome. The frequency of sports bet upon varies by culture, with the vast majority of bets being placed on association football, American football, basketball, baseball, hockey, track cycling, auto racing, mixed martial arts, and boxing at both the amateur and professional levels.
Are Sports Betting Online I
There are NO prohibitions against gambling online, and that includes betting on sports. It’s not explicitly legal, but it’s not explicitly illegal either. The UIGEA makes it illegal to process financial transactions relating to online gambling. There are no federal laws that specifically make it illegal to bet online.
These headlines below are prove that sports betting is a worldwide thing and the reason why majority in Nigeria are keying into it
History of Sports Betting
Sports in general now play an important role in our everyday life. People now enjoy both playing in sports as well as being a fan, cheering on their favorite team. Not only do fans simply enjoy watching but they also like to bet on the events. Sports betting actually has a long history and has been around for centuries.
Nowadays one can bet practically on all sports events and sports disciplines. Either personally in a bookie office or on
Historians find it rather difficult to determine exactly when sports betting began. They do know it’s been around for thousands of years when people placed wagers on the outcome of an event.
Betting was common in Ancient Rome where bets could be placed only in the city of Rome at chariot races or the circus. Of course, legality has never stopped people from placing bets. The pastime continued through the years into modern times.
One thing about sports betting does remain true and that is the fact that it is regarded as a legal activity.
Through the centuries, the prevalence of betting varied according to the tide of politics within a nation’s government.
In recent times, one of the biggest changes in sports betting is the addition of the internet. When casinos began to offer their games online, the past time took off. Adding sports betting to online gaming was a natural fit as well.
In fact, sports fans find it much more convenient to place their bets online. Also, with the availability of numerous
Today, sports betting is a major industry and attracts a lot of customers. Given this success, it appears to be around for good.
“The pastime continued through the years into modern times.”
Modern sports betting came about primarily from horse racing.
In the UK, betting on horses became popular in the early 18th century once more the two-horse races became common.
New World countries followed suit and by the late 19th century countries like US, Canada and New Zealand had formally established laws to govern gambling.
The next major advancement in sports betting was the emergence of online casinos in the 1990’s and related sportsbooks.
There are now hundreds of online sports betting options that are beginning to dominate the traditional bookmaking.
The difference of the betting exchanges to the bookies consists in the fact that the odd is fixed not by a bookmaker (as it is usual at the bookies), but that the customers offer the bet themselves and agree on the odds.
Timeline of M
ajor Online Sports Betting:
1921 first football betting in England
1934 football betting in Sweden
1961 first legal bookies in England
1974 Bet365 was founded (english bookie – one of the oldest provider of sports betting)
1997 first online bookies Interwetten and Bwin
1998 followed online bookie Sportingbet
1999 first betting exchange Betfair
1999 followed Expekt
2001/2002 followed Betsson
2002 followed Mybet
And the list goes on and on
Sports Betting Odds
Sports betting is all about odds. The term odds is used in sports betting to describe the returns a user can earn on a successful bet. Odds are often referred to as prices, in reference to the value of a bet on a particular selection.
Odds are offered in three different formats, Fractional, Moneyline and Decimal odds. The decimal odds is the easiest to understand.
Decimal Odds: Decimal odds are also known as Continental Odds or European Odds, and are popular in Europe, Canada, and Australia.
These odds reflect the payout on a successful bet in decimal form and factor in the return of the stake.
A user bets N1,000 on Barcelona to beat Inter Milan at odds of 2.50. If Barcelona wins the match, the user will be paid out: 2.50 x 1,000 = N2,500. The N2,500 payout reflects the fact that the user has only earned N1,500 from the bet, as the stake was included in the payout.
Online Sports B
etting in Nigeria
Sports betting in Nigeria has become a big deal.
The upside is that, it has made paupers millionaires.
The downside is that it has also created quite a number of paupers.
Now the question is –
Why do both the youths and old love sports betting?
The reason is because it is guileless, entertaining, and it gives us an opening to make some money online.
However, if you are a first-time better, step on the brakes. Do not rush off to start staking your incomes just yet.
If you are too hasty you could make decisions that can ruin you financially.
Be smart and knowledgeable and you may just make millions simply from betting.
How can I Win Sports Betting 8 Easy Ways To Win
As stated earlier, there’s no need to rush when it comes to predictions. To make the most out of sport bet you need to follow these simple tips;
- Know your sport inside out. The more knowledgeable you are about the game the better your chances of predicting rightly.
- The favourite doesn’t always win. Have it at the back of your mind that sport betting is not all about your favourite it’s about predicting rightly
- Don’t just stick to one bookmaker – try to shop around.
- The fewer selections, the better your chances of winning the game
- Avoid the temptation of odds-on prices.
- Consider the less obvious markets.
- Make sure you understand the markets.
- Don’t bet with your heart.
Basic Terminologies used in sport betting
1,X,2 – the simple bet, 1 means home win, X means draw and 2 means away win
1X,X2,12 – double chance. 1X means home team wins or draw and so on.
Half Time – you bet on the outcome at half time
Halftime/Fulltime – you bet on the outcome at halftime and at the end of the game
Halftime or Fulltime – to win your prediction must be good at half time or full time
Handicaps – there are 2 different types of handicap bets: standard or
For example, handicap (0-1) means the game starts with the away team leading by 1 point and you bet on the outcome based on this starting handicap. So the home team must score at least 2 points to win (final score of 2-0 in reality).
Asian handicap is different. Asian handicap betting is a form of betting on football in which teams are handicapped according to their form so that a stronger team must win by more goals for a punter betting on them to win. The system originated in Indonesia and has gained popularity in the early 21st century. It is a form of spread betting.
If you bet on the away team in the case of Asian handcap you win if the match is a draw or the away team wins, so it’s more like double chance but usually, the odds are a bit higher.
Under/Over – you bet on the number of goals. The usual limit is 2.5 goals for football, but it can be different. Example: you bet on under 2.5 goals. You win if there are 0, 1 or 2 goals scored. The .5 limit is used because this way there are only 2 possible outcomes: under or over.
Number of goals – similar to under/over, but with more options: no goals, at least one goal, etc.
Exact Score – you can choose from a list of possible scores.
More goals – you can choose which part of the game will have more goals (1st or 2nd half, etc)
To score/not to score – quite obvious, you bet on a team to score/not to score
Winning margin – obvious
1st goal to score, Goal scorer – you can bet on the goal scorer (the player), or the first team to score, there are many variations of this type
Booking/Corners – you can bet on the number of yellow/red cards and the number of corners (football). Mostly available in live betting
Outrights/Specials – usually long run bets (who wins a championship, presidential elections, etc.) Unibet offers many different long term bets.
For Sports betting lovers please react to this by leaving a comment below.
A Nigerian Lady says “If we are dating and I find out you play sports betting, it’s Over” If you are the one what will you say or do…?