Gambling involves staking a certain amount of money or possession in the hope of winning something bigger or in multiples. Gambling entails having an optimistic belief that giving out something will bring back a higher return. Gambling means a positive or negative expectation from an input done by the gambler. A gambler gambles away some or all of his money in expectation of winning what will change his or her life financially at most times. Gambling attracts all manners of characters whose sole aim is a better economic fortune. Gambling is not prevalent not just in the Western World but in African countries such as Nigeria. Most non gamblers opine that gambling has done more damage to the economic fortunes of Nigerians and by extension the gamblers themselves.
Both genders (male and female) in Nigeria are involved in gambling, however, more males are known to as notorious gambling addicts. One of the most popular gambling locations where gamblers are seen daily is at Ojuelegba, Lagos state. The majority of the big gambling companies in Nigeria are seen with their banners and billboards on display at strategic locations at Ojuelegba. There used to be a time when people thought that only male folks were gamblers, however, this notion is seen not to be so any longer, as young female adults and even housewives are seen at gambling shops, staking some money and trying to know if they had won by checking their betting tickets.
Gamblers will continue to hold a firm belief in their minds that gambling is the surest shortcut to wealth. Bettors will always have the illusion of winning big shortly, even if they lose a big chunk of their income every day. The insatiable hunger to gamble will continue to fire up gamblers on why their millions of naira are within reach of gambling. The spirit of gambling will ensure that any piece of advice you give to a chronic bettor will fall on deaf ears. Such a notorious gambler will not back down even if he loses all his life savings to gambling. The unquenchable thirst will lead such a gambler to not just lose his life savings but assets, and end up returning home empty-handed. A few gamblers will win after staking their money, however, a higher percentage of gamblers end up with financial losses.
There are different types of gambling for different socioeconomic strata in the society. The so-called big boys are hardly seen checking gambling tickets at local gambling shops and kiosks. The so-called society big boys are involved in gambling millions of naira at Casinos and other high capital gambling. Just like the purchasing power of the citizens, there are the low, middle, and high-level gamblers. The low-level gamblers are known to play mostly ticket gambling popularly called 'Baba Ijebu.' Middle-level gamblers are known to play tickets and online/video gambling. Some high-level gamblers are likewise seen playing online/video gambling apart from going to gambling clubs. However, low, middle, and high levels are involved in gambling such as rolling of dice, and cards, different sports betting, and others.
Nigerians especially youth gamblers see gambling as a risk worth taking. Such youths believe that gambling is a risk just like life itself. They therefore stake their money even if they keep on losing. Findings reveal that high-risk lovers of gambling do not get perturbed when they lose their money at any instance. Such high-risk lovers of gambling rather see future economic prosperity in gambling than immediate misfortune.
Gambling is one of the easiest ways to lose money, and life in some instances. There are countless reports of tertiary students and even secondary school students who gambled away their school fees. Reports of suicide after losing huge sums of money are synonymous with gamblers. One such suicide incident is that of a 200-level student of a federal polytechnic in the Southwestern part of Nigeria who committed suicide after gambling away his friends and own school fees via an online betting platform.
Gambling hinders social currency. Gambling endangers the relationship between family and friends. It affects the mental and physical health of not only the gambler but those of close family members and friends. Social currency means the opportunity to get financial support from families and friends. A gambler who asks for money for gambling from time to time will in no time lose the trust of people who support him financially. They see him as a conduit pipe, who waste their money on gambling and not on business investment which could yield fruitful results. A gambler exposes his family and friends to mental torture and psychological breakdown as he might steal and sell household properties to gamble.
Is the risk of gambling worth it? Should Nigerians who gamble continue? Gambling is a social cancer that grows quickly into a monster just like cancerous cells. The disadvantages of gambling far outweigh its merits. Some bettors win big from gambling, however, the truth is that there have been more heartbreak stories as a result of gambling. Gambling hardly adds economic value to the standard of living of the gamblers, but fuels crime and social unrest. Therefore, why should Nigerians not learn from these sad gambling incidents?
The economic situation in the country should not be an excuse for gambling. Gamblers should not come up with the saying that gambling is the only way to swim out of Nigeria's economic situation. Nigerians can make several better economic decisions by investing in businesses and trades (online and offline), digital marketing, and entrepreneurship instead of gambling. A Nigerian who got millions of naira after retirement should never think of gambling as the next issue as this could be a pathway to suicide if he loses all the retirement money.
What can be done to leave gambling before witnessing total economic misfortunes? Any Nigerian who gambles regularly and has friends who are chronic gamblers needs to change his circle of friends. The person needs to have friends who are into real business investment. The person needs to have a former gambler to help him or her out of gambling. The person needs to delete and uninstall all betting Applications on his or her mobile phone, as well as block all online gambling websites. The person needs to attend viable business and investment workshops/forums where he or she can invest and watch his money grow. More so, the person needs to imbibe self-discipline as per saving his money.
This Article was written by Oladele Hakeem Olaniyan who lives in Nigeria exclusively for Naijaloveinfo.
Sources
https://naijaloveinfo.blogspot.com/2022/07/check-out-13-solutions-to-stop-gambling.html?m=1
https://tribuneonlineng.com/is-betting-the-new-epidemic-threatening-nigerias-future/
https://www.responsiblegambling.org/for-youth-and-young-adults/for-youth/impact-of-gambling/#:~:text=It%20can%20have%20negative%20effects,relationships%20with%20family%20and%20friends
https://www.economicsdiscussion.net/articles/risk-preference-and-gambung-why-do-some-individuals-gamble/1374#:~:text=In%20sharp%20contrast%20to%20risk,the%20equivalent%20income%20wit
h%20certainty.
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