Nigerians spend over seven billion naira annually on sports betting and at least two billion naira is generated daily.
Research data shows that over sixty million Nigerian customers spend over three thousand naira daily placing bet stakes. At least there are fifty betting sites in Nigeria with the number growing annually.
Some respondents said they placed bets to generate quick and easy income, and turn their passion for football into cash.
Fashion designer, Segun Mukoro said it was the fastest way to double his income and although he might lose sometimes, the wins come big.
Similarly, Eronini Kolapo explained that he used betting to augment his allowance as a student adding that he started for fun, at first but soon built a network from it.
Research statistics show that over fourteen million bet stakes and payments are made over the internet every day.
A betting shop attendant, Niyi Adejujagbe said that he gets at least five hundred stakes placed in his shop daily, adding that he has a crowd of punters as early as 9am.