Sport Betting
EKO HOT BLOG reports that the House of Representatives has moved to put an end to sports betting in Nigeria.
In order to address the concerns surrounding gambling activities, lawmakers have called upon the National Lottery Regulatory Commission (NLRC) to adhere to the Lottery Regulatory Commission Act of 2005.
This online media platform understands that this resolution was reached following the introduction of a motion by House of Representative member (PDP-Rivers) Kelechi Nwogu during the plenary session in Abuja on Thursday.
Nwogu raised concerns that a significant number of Nigerians, approximately 60 million individuals aged between 18 and 40, are involved in sports betting.
Nwogu highlighted the detrimental effects of the current lax regulations on mental health, including the emergence of issues such as depression, anxiety, and addiction.
Furthermore, he emphasized that sports betting has also resulted in strained or broken relationships due to dishonesty and theft from friends and family, financial difficulties, legal complications, and even job loss due to excessive losses or debts.
These concerns have prompted the House of Representatives to take action and urge the NLRC to address these issues promptly and effectively.
“Betting has given rise to increased crime rate and eventual suicide,” Nwogu said.
He harped on the need for campaigns to prevent the negative social impact of lottery and underage participation.
Adopting the motion, the House urged the Federal Ministry of Information and National Orientation to conduct a comprehensive nationwide campaign to raise public awareness about the negative impact of youth participation in sports betting.
The House also mandated the Committee on Inter–Governmental Affairs to conduct a Public Hearing on the dangerous effects of sports betting in Nigeria.
The committee has been strongly encouraged by the lawmakers to provide a comprehensive report within a period of four weeks, in order to facilitate further legislative measures.
According to data obtained from the National Lottery Trust Fund (NLTF), it has been revealed that a significant number of over 65 million Nigerians actively participate in betting, with an average daily expenditure of 15 dollars.
The data further revealed that Nigerians collectively spend an approximate amount of 975 million dollars on online sports betting on a daily basis, resulting in an annual expenditure of around 356 billion dollars.
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