Sports betting remains a polar subject in Nigeria, especially with the older generation, but despite reservations in some quarters, the industry continues to prosper in the country.

Unsurprisingly, the demography of the sports betting population in Nigeria is heavily skewed towards the younger generation.

Young Nigerians are very ambitious, borderline impatient, and with the economy not being the most favourable and job opportunities not exactly forthcoming, many have had to resort to other means to make ends meet.

One of their favourite go-to alternatives is sports betting.

It is estimated that about 60 million Nigerians within the ages of 18 and 40 are actively involved in sports betting. That’s just under a third of the entire Nigerian population. The average annual spend on betting is estimated at over 1 billion naira.

Not everyone is the biggest fan of sports betting, and for good reason too.

Betting has the tendency to get very addictive, which then spirals into all sorts of problems. Sports betting addicts have been known to have mental, emotional and financial issues.

That said, for all the negative effects of sports betting, the industry continues to grow at a rapid rate in Nigeria.

It has come to a point where rather than trying to fight it, we must embrace it as part of our society. Fighting sports betting is tantamount to fighting a lost battle.

Instead of castigating bettors and punters, especially the younger ones, they should be educated on the pros and cons of sports betting, and be taught how to bet responsibly.

Everyone has got a role to play in this, from the government to the media and even the betting operators.

The best betting sites in Nigeria already have sections where they help their users guard against betting addiction.

Among other responsible gambling tools, these betting sites help users to set spending limits and give them the option to take a break when things threaten to get out of hand.

The government must make policies that compel betting operators to promote responsible gambling, while the media must be very careful with the types of betting adverts that they promote.

Media houses must ensure that the betting ads on their platforms are not misleading or too inciting. It is not just about collecting money and running ads; it is also about their responsibility to their audience.

The government and the media should also run periodic campaigns where they educate their citizens on sports betting.

Young bettors should be reminded of the fact that there are no guarantees with sports betting, and that winning is largely dependent on luck.

They must also be made aware of the golden rules of sports betting, including the fact that they should only bet with money they can afford to lose and never go chasing after their losses.

In the end, betting should be fun and entertaining. Of course, it is very possible to make money from sports betting, but you should put only very few eggs, if any, in the betting basket.