| − | <br><br>[http://nigerianfinder.com/starting-a-sports-betting-business-in-nigeria/ nigerianfinder.com]For Sadiq Abdullahi, the operator of a sports betting shop at Utako, Abuja, sports betting is all about carrying on the sacredness of the contract between punters and the operators of the betting sites - paying the punter as immediately as he or she wins their bet on the basis of the ‘unbreakable’ guarantee ensconced in the call-and-stake contract. Wager right, get paid right, Abdullahi would claim.<br><br>For Shina Phillips, a punter at Garki Area 10, Abuja, sports betting is much more about ‘fooling’ the majority of the punters to ‘fleece’ them of their hard-won cash with the [http://Www.yohaig.ng/newspapers/the-punch/bet9ja-unites-euro-leagues-fans/ instrument] of the enticing promises of a manifold benefit for passion, as the bet9ja slogan would say, ingrained in a ‘deceit-established’ contract.<br><br>So is the case in Abuja, as it may well be the case everywhere, Phillips preserves.<br><br>Either way, the on-line sweepstake called sports [http://www.yohaig.ng/sports-betting/bet9ja/bet9ja-player-wins-13-million-naira-single-n500-bet/ Naija Betting Site] is all about cash - the punter dreams of winning millions of Naira, for example, a maximum of 50 million Naira dangled by [http://www.yohaig.ng/newspapers/the-punch/bet9ja-unites-euro-leagues-fans/ Myshop Bet9ja], the acclaimed market leader, by staking merely one, or a few, hundred Naira notes; the operator of the betting website, operating as a legal business enterprise, rakes into his bank account hundreds of millions of Naira seemingly in the stakes put on the faulty forecasts of the majority of the punters at a given time.<br><br>"The winner used our online platform by staking merely N500.00. I’m happy to advise you the victor was issued with his cheque. We are going to continue to strive to serve our customers to the best of our skills. We will consistently run in line with established terms and within the ambit of the regulatory agency."<br><br>Ojuroye affirmed that Our company is anchored on trust, so we will continue to serve our customers better and larger."<br><br>An amazing percentage of these youth seemingly rely on the sports betting sweepstake as a ‘veritable source’ of a huge ball of the cash they may have pursued from wherever they hail to Abuja or, at least, as a ‘veritable source’ of the pittance they need for bare sustenance.<br><br>As was the pools gaming of old, which it replaces for bulk of Abuja punters, however, sports betting is about habit.<br><br><br><br>[https://www.bellanaija.com/2014/07/nigerians-spend-n1-8-billion-daily-on-sports-betting/ bellanaija.com]"All games of chance are about dependency; the more you play them, the more you get hooked; and if you are addicted, you play them out of compulsiveness, like drinking alcohol, minding not whether you'll win or lose. If you win, you're joyful; if you lose, you're depressed, but sadness for loss does not limit you from playing tomorrow," Mustapha Mohammed, a punter at Saharabet, maintains, monitoring, "I think this pathetic situation of the player establishes the robust foundation which the wagering business booms."<br><br>Because it is 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 in accordance with the provisions of the National Lottery Regulatory Act of 2005.<br><br>As at reporting time, the National Lottery Regulatory Commission established by the said Act of the National Assembly was still compiling a comprehensive list and pertinent records of the operators in the FCT "and so we cannot tell you comprehensively who and who are operating here, how many of them are running here, and the absolute variety of shops in which they operate," Magnus Ekechukwu, Head Media and Public Affairs of the commission, said.<br><br>"We have been mapping (compiling records of) the agents and subagents of the operators since April 2015, and we're still encouraging them to come forth and register their presence with the commission as required by the Act to enable us regulate and monitor their operations consequently," Mr. Ekechukwu said additionally, warning, "we're on the verge of compelling 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're giving all operators up to the next June to come for the needed mapping with us and many of them are [http://Www.yohaig.ng/newspapers/the-punch/bet9ja-unites-euro-leagues-fans/ responding]. Because that will be the time when we'll begin full enforcement of management based on the Act from July any sports betting operator that has not presented himself for mapping will be on his own.<br><br>"We have previously reached an agreement with the EFCC that starting with that time any operator not registered with us will be accused of running an illegal business that was financial, ripping off the citizens of their cash, and the EFCC will pick him up. We need to have a comprehensive record of them to enable us completely enforce compliance with the Act and perform our regulatory and monitoring roles.<br><br>The current scenario, according majority of the players, underscores the possibility of grave default option with regard to 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 groups required by the Act to be paid to them.<br><br>The Act stipulates that the operators of the online game of chance pay 50 percent of these groups to the players called punters, remit 20 percent to the Lottery Trust Fund meant for financing such development projects as may be directed by the President of the 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 regulation of the company of national lottery in Nigeria in addition to the establishment of a National Lottery Trust Fund and the operation of the national lottery.<br><br>It, consequently, empowers the commission to correctly control the operations of lottery companies, which protects the interest of stockholders, players and the general public, and comprise sports betting company.<br><br>With the name of the game being Cash, sports betting shops have quickly proliferated, most noticeably in the past year or two, across the nooks and crannies of the Federal Capital Territory and its satellite towns, with the passion of the distressed money-monger out to crop as tremendous amount of money as he could from the giant ‘cash-yielding’ tree called Abuja, said to come next to the state’s commercial capital, Lagos, when it comes to the gains and other fortunes achievable with such enterprises.<br><br>The cash is sourced from the ever- strengthening passion for soccer rooted in the thoughts of the millions of the youthful soccer supporters flooding the FCT and its satellite towns who swarm TV viewing centres to see the foreign leagues after calling and staking.<br><br>Sports betting firm, Bet9ja, in line with its set philosophy of rewarding people’s passion, has again paid out a huge bonus win of N36,702, 316.98 to another winner Nwakama Uzoma .<br><br>According to the CEO of KC Gaming Network, Ayo Ojuroye, " In line with our promise 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 Wager slip Number: B941AQPSTTZQE 21949.<br><br>Sadiq Abdullahi said why Abuja players should not be ungrateful for the operators: "The come, bet, see the soccer matches and if they win we promptly give their cash to them. Betting means, the punter comes, tells the teams he or she wants to gamble to us.<br><br>He does the gambling himself or he asks us to do it. At the conclusion of the games you see your result. If you win by the result affirming your stake about who wins between your selection teams, we give you your ticket."<br><br>He said sports [http://www.yohaig.ng/sports-betting/bet9ja/bet9ja-player-wins-13-million-naira-single-n500-bet/ Naija Betting Site] business thrives in Abuja because, "the individuals’s love for football has jumped so high now, partially because a large populace of the youth has little to inhabit them, and instead of just watching matches without gaining anything, they resort to gambling. I expect you'll not be surprised to hear that even girls come here to gamble.<br><br>I must confess the business is moving," Abdullahi said, explaining, "you can gamble N100 and win N3 million. The maximum we pay in bet9ja is N50 million. With a bet of N100 you can win up N49 million. With anything above N100 N50 million." can be won by you<br><br>He said the punters playing to hundreds on daily basis in his shop run.<br><br>For David Jones, the chance for winning and getting paid that much in the game is not as certain as Abdullahi painted it: "A punter yesterday in my presence wager seven times at N150 each wager before he could win N20, 000.00, and that's an exceptional luck. You can be playing [http://www.yohaig.ng/newspapers/the-punch/bet9ja-pays-out-big-winnings/ Code For Bet9ja] quite a while without winning anything. Lots of people play just since they're used to it, but they do’t win anything."<br><br>Mohammed Aminu shared views with Jones I started betting two months past. I play only for the interested of it, but I've never won a dime. I 've never won anything, although I bet between N500 and N100; you can see why I said I play due to interest."<br><br>Sports betting as damaging to the economy of both the state and the individual player were dismissed by Shina Phillips.<br><br><br><br>[http://Www.yohaig.ng/newspapers/the-punch/bet9ja-pays-out-big-winnings/ yohaig.ng]"It is just not developing the market of any nation or anybody. It develops the market of only the operators," ", he said, confessing this past year I began, and I have been winning meager amounts but my maximum triumph so far is N7000. I stake between N500 and N200.<br><br>Because it really is a waste of money I do’[http://cheeronnigeria.blogspot.co.uk/2015/03/5-sports-betting-sites-that-pay.html t encourage] the youth to get addicted to it. I play as much as five times daily before winning anything with the stakes I just told. Huge people of the youth gather morning to evening at the betting shops, but [http://Www.yohaig.ng/entertainment/linda-ikeji/bet9ja-congratulates-pays-all-recent-winners/ majority] do’t win anything real, in fact they do’t win anything," Phillip said, preserving, "From the misfortunes of the bulk, the operators make their hundreds of millions.<br><br>"So I might advise the youth to withdraw from gaming and rely on something else speculative ," he said. Noel Orerumba is the operator of a SureBet store.<br><br>" I see sports betting as a panacea to societal ills. It reduces the rate of perpetrating crimes on the list of youth, who make up majority of the criminals in the society. As opposed to absorbing their thoughts on carrying out activities that are unlawful, they come here play; some win, some lose; we pay those that win their cash, which they use to cancel their invoices.<br><br><br><br>[http://Venturesafrica.com/sport-betting-in-nigeria-an-unlikely-source-of-revenue-and-jobs/ venturesafrica.com]You can see they get money without carrying out any unlawful action like militancy or robbery. Someone would wager, say, at the end wins and N300, say, N5000.<br><br>"It is, in addition, a really reliable source of employment; a shop operator like me can use a few others among then teaming unemployed on the streets of Abuja to help the company runs," he said.<br><br>However, just extensive records of the people and operations of these sweepstake sites, agents, subagents and store operators would ease their proper regulation and tracking according to the law, for the advantage of the stakeholders - the operators of the company, the players, the stockholders and government represented by the National Lottery Trust Fund.<br><br>Talking on his win, Nwakama said my life has altered permanently. I did’t believe I could win and be paid instantly. Bet9ja actually surprised me and I will always tell people about their integrity."
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