A betting company called Bet9ja makes an average of $400,000 Daily

[Bravebold]

A betting company called Bet9ja makes an average of $400,000 (dollars o not naira) every day according to KPMG report. This is a business model that targets poor people and low-income earners by selling hope to them and encouraging them to part with their money daily in anticipation that they will hit the jackpot one day. It may also shock you that Bet9ja is the second-most visited website in Nigeria after Google. Data analysis has also shown that Bet9ja website has more traffic than Twitter, Facebook, and Instagram. Betting may be as cheap as N100, so they deliberately make it cheap and affordable.

According to research by the News Agency of Nigeria (NAN), an estimated 60 million Nigerians between the ages of 18 and 40 are involved in active sports betting, while almost ₦2 billion is spent on sports betting daily in Nigeria. This translates to nearly ₦730 billion in a year.

So, the people we refer to as poor and low-income earners raise this huge amount of money consistently. So, they may be poor individually but collectively they are super rich. Unfortunately, it is the betting companies and government through taxation that are consistently smiling to the bank.

© Yomi AK

[Bravebold]