Created page with "[http://venturesafrica.com/sport-betting-in-nigeria-an-unlikely-source-of-revenue-and-jobs/ venturesafrica.com]For Sadiq Abdullahi, the operator of a sports betting shop at Utako..."
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[http://venturesafrica.com/sport-betting-in-nigeria-an-unlikely-source-of-revenue-and-jobs/ venturesafrica.com]For Sadiq Abdullahi, the operator of a sports betting shop at Utako, Abuja, sports betting is about maintaining the sacredness of the contract between punters and the operators of the betting sites - paying the punter as immediately as he/she wins his or her bet on the basis of the ‘unbreakable’ assurance ensconced in the predict-and-bet contract. Wager right, get paid right, [https://Www.Bellanaija.com/2014/07/nigerians-spend-n1-8-billion-daily-on-sports-betting/ Abdullahi] would claim.<br><br>For Shina Phillips, a punter at Garki Area 10, Abuja, sports betting is much more about ‘conning’ most of the punters to ‘fleece’ them of their hard-earned cash with the instrument of the enticing promises of a manifold benefit for passion, as the bet9ja motto would say, ingrained in a ‘deceit-established’ [https://En.Wikipedia.org/wiki/Contract contract].<br><br>So is the case here in Abuja, as it may be the case everywhere, Phillips preserves.<br><br>Either way, the on-line sweepstake called sports betting is about cash - the punter dreams of winning millions of Naira, for instance, a maximum of 50 million Naira dangled by bet9ja, the acclaimed marketplace leader, by staking merely one, or a few, hundred Naira notes; the operator of the gambling website, running as a legal business enterprise, rakes into his bank account countless millions of Naira seemingly from the stakes placed on the faulty forecasts of the majority of the punters at certain time.<br><br>"The winner used our on-line platform by staking merely N500.00. I’m happy to tell you the victor continues to be issued with his cheque. We will continue to strive to serve our customers to the best of our abilities. We'll always operate in line with established conditions and within the ambit of the regulatory agency."<br><br>Affirmed that Our business is anchored on trust, so we'll continue to serve our customers bigger and better."<br><br>A considerable percentage of these youth apparently rely on the sports betting sweepstake as a ‘veritable source’ of a huge chunk of the cash they may have pursued from wherever they hail to Abuja or, at least, as a ‘veritable source’ of the pittance they desire for simple sustenance.<br><br>For bulk of Abuja punters, however, sports betting is about dependence, as was the pools betting of old, which it replaces.<br><br>"All games of chance are about habit; the more you play them, the more you get addicted; and you play them out of compulsiveness minding not whether you will win or lose, when you are hooked. If you win, you are joyful; if you lose, you are miserable, but sadness for loss will not limit you from playing tomorrow," Mustapha Mohammed, a punter at Saharabet, maintains, watching, "I think this pathetic situation of the player develops the strong basis which the gambling company booms."<br><br>Because it's a government- legalized business enterprise, it's also about money for the government in the form of the percent of the sets made by the operators to be remitted according to the provisions of the National Lottery Regulatory Act of 2005.<br><br>As at reporting time, the National Lottery Regulatory Commission created by the said Act of the National Assembly was still compiling an all-inclusive list and related records of the operators in the FCT "and so we cannot tell you comprehensively who and who are running here, how many of them are running here, and the absolute number of stores in which they run," Magnus Ekechukwu, Head Media and Public Affairs of the commission, said.<br><br>"We happen to be mapping (compiling records of) the agents and subagents of the operators since April 2015, and we're still motivating them to come forth and register their presence with the commission as required by the Act to empower us control and monitor their operations consequently," Mr. Ekechukwu said further, warning, "we are on the brink of forcing them to do so, because the deadline has expired since February 16, 2016."<br><br>Mr. Adolphus Joe Ekpe, the Director General of the Commission, stressed: "We are giving all operators up to the next June to come for the required mapping with us and many of them are reacting. From July any sports betting operator that hasn't presented himself for mapping will be on his own, because that will function as the time when we'll begin full [http://Nigerianfinder.com/starting-a-sports-betting-business-in-nigeria/ enforcement] of regulation based on the Act.<br><br>We have already reached an agreement with the EFCC that beginning from that time any operator not registered with us will be accused of running an illegal financial company, ripping the citizens in their money off, and the EFCC will pick him up. We need to have a comprehensive record of them to [http://Cheeronnigeria.blogspot.Co.uk/2015/03/5-sports-betting-sites-that-pay.html empower] us perform our regulatory and monitoring functions and completely enforce compliance with the Act.<br><br>The current situation, according bulk of the players, underscores the chance of grave default option in terms of the legally-required remittance to the Trust Fund and the fleecing of punters on the part of the operators in terms of the percent of collections required by the Act to be paid to them.<br><br>The Act stipulates that the operators of the online game of opportunity pay 50 percent of their collections to the players called punters, remit 20 percent to the Lottery Trust Fund meant for funding such development projects as may be directed by the President of the [http://Www.nairaland.com/2232460/lists-top-10-football-betting Federal] Republic, while withholding the balance of 30 percent as their increase.<br><br>This Act provides for the establishment of the National Lottery Regulatory Commission charged with responsibility for the management of the company of the establishment of a National Lottery [http://cheeronnigeria.Blogspot.co.uk/2015/03/5-sports-betting-sites-that-pay.html Trust Fund] as well as national lottery in Nigeria and the operation of the national lottery.<br><br>It, therefore, empowers the commission to properly control the operations of lottery companies, which protects the interest of players, stockholders and the average man or woman, and include sports betting company.<br><br>With the name of the game being Money, sports betting stores have quickly proliferated, most apparently within the last couple of years, across the nooks and crannies of the Federal Capital Territory and its satellite towns, with the fire of the distressed money-monger outside to harvest as tremendous sum of money as he could from the giant ‘cash-yielding’ tree called Abuja, said to come next to the state’s commercial capital, Lagos, with regards to the gains and other [http://www.sportsbetting.com.ng/sports-betting-sites/ fortunes achievable] with such businesses.<br><br>The cash is sourced from the ever- strengthening passion for soccer deeply rooted in the thoughts of the millions of the youthful soccer fans flooding the FCT and its satellite towns who swarm the foreign leagues to be watched by TV viewing centers after staking and predicting.<br><br>Sports betting firm, Bet9ja, in line with its set philosophy of rewarding people’s love, has again paid out a huge bonus triumph of N36,702, 316.98 to another victor Nwakama Uzoma .<br><br>According to the CEO of KC Gaming Network, Ayo Ojuroye, " In line with our guarantee of consistently rewarding our customers’ passion, we just paid a huge winnings of N36,702,316.98 to one of our winners Nwakama Uzoma with Bet slip Number: B941AQPSTTZQE 21949.<br><br>Abuja players should be glad for the operators Sadiq Abdullahi said: "The come, bet, if they win we instantly give them their money and see the football matches.[http://Cheeronnigeria.blogspot.co.uk/2015/03/5-sports-betting-sites-that-pay.html blogspot.co.uk] Gambling means, the punter comes, tells us the teams she or he needs to gamble.<br><br>He does the he requests us to do it for him or gambling himself. At the conclusion of the games you see your result. If you win by the result about who wins between your selection teams validating your bet, we give you your ticket."<br><br>He said sports betting company flourishes in Abuja because, "the individuals’s love for football has bound so high now, partly because a big population of the youth has little to inhabit them, and instead of simply seeing matches without gaining anything, they resort to gambling. I hope you WOn't be surprised to hear that even girls come here to gamble.<br><br>I must admit that the company is moving," Abdullahi said, explaining, "you win N3 million and can bet N100. The maximum we pay in bet9ja is N50 million. With a bet of N100 you are able to win up N49 million. With anything above N100 N50 million." can be won by you<br><br>He said the punters playing in his store run to hundreds on day-to-day basis.<br><br>For David Jones, the luck for winning and getting paid that much in the game isn't as certain as Abdullahi painted it: "A punter yesterday in my presence wager seven times at N150 each bet before he could win N20, 000.00, and that is an exceptional luck. You can be [https://www.Moviefone.com/ playing] for quite a while without winning anything. Lots of people play just as they are used to it, but they do’t win anything."<br><br>Mohammed Aminu shared viewpoints with Jones I started gambling just two months ago. I play just for the curious of it, but I've never won a dime. I wager between N500 and N100, but I 've never won anything; you can see why I said I play due to interest."<br><br>Shina Phillips discounted sports betting as detrimental to the market of both the individual player and the country.<br><br>It just isn't developing the economy of any country or anybody. It develops the economy of just the operators," he said, admitting, "I began this past year, and I 've been winning meager amounts but my maximum triumph so far is N7000. I stake between N200 and N500.<br><br>Because it is a waste of money, "I do’t support the youth to get hooked on it. I play as much as five times daily before winning anything at the end of the day with the stakes I just told. Huge inhabitants of the youth assemble morning to evening at the betting shops, but majority do’t win anything real, in fact they do’t win anything," Phillip said, preserving, "From the misfortunes of this majority, the operators make their hundreds of millions.<br><br>"So I would inform the youth to remove from gaming and rely on something else high-risk he said. Noel Orerumba is the operator of a SureBet store.<br><br>" sports betting to societal ills as a panacea are seen by me. It reduces the speed of perpetrating crimes among the youth, who make up bulk of the criminals in the society. On carrying out criminal activities rather than absorbing their thoughts, they come here play; some win, some lose; those who win their money are paid by us, which they use to cancel their bills.<br><br>You're able to see that they get money without carrying out any criminal activity like militancy or robbery. Someone would wager, say, N300 and at the end wins, say, N5000.<br><br>"It is, in addition, a really reputable source of employment; a store operator like me can employ four to five others among teaming jobless on the streets of Abuja to help the [http://Bizwatchnigeria.ng/rise-rise-sports-betting/ business] runs," he said.<br><br>Nonetheless, merely extensive records of the residents and operations of these sweepstake sites, agents, subagents and shop operators would facilitate their proper regulation and tracking based on the law, for the benefit of the stakeholders - the operators of the business, the players, the stockholders and government represented by the National Lottery Trust Fund.<br><br>Talking on his win, Nwakama said "Bet9ja has altered my life permanently. I did’t believe I could win much at once and be paid instantly.[https://www.bellanaija.com/2014/07/nigerians-spend-n1-8-billion-daily-on-sports-betting/ bellanaija.com] Bet9ja actually surprised me and I 'll consistently tell people about their integrity."<br><br><br>KC Gaming Networks Limited is a firm based in Nigeria and owns the online betting portal site Bet9ja.com (sometimes additionally mybet9ja.com). They're fully licensed and regulated in [https://register.bet9ja.com/?promocode=yohaig Nigeria sports betting sites Bet9ja registration] and hold the permit where sports betting is permitted to operate in all states. KC Gaming Networks draw upon the best practices from both Africa and Europe.<br><br>Their technology centre relies in Europe which ensures all customer transactions as well as dependability and security of these systems. Their customer service operations are based in Lagos State, Nigeria to make certain the customer service is always top-class quality. 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