Bet for money is arguably one of the most popular money making ventures among the young and the old in Nigeria. A lot of Nigerians bet every day, even those you do not expect to bet. Go to any betting shop around your locality and you will see people trying to make bets on events like football matches, boxing and political events etc.
The advent of smart phones and the internet has made the bet for money business very convenient for those who can go to physical betting shops to bet. People in this category can place a bet at the comfort of their homes and offices using their smart phones or any other internet connected device.
Research has shown that about N2 billion is spent on sports betting daily in Nigeria. This statistics shows that money can be made from betting business. You need to find the niche you will play in. Are you willing to predict, bet and make money? Do you want to start a forecasting service? Do you want to own a betting shop?
You just have to choose a niche and start making money.[irp posts=”471″ name=”Betnaija – 5 ways to make millions from this service”] [irp posts=”138″ name=”Effi Lotto – How I made N12 million”]
How to make money in betting business
Place a bet for money
You can place a bet for money and win millions of naira. You should know that betting involves some kind of risk. You can lose all your money; you can also make a return on investment of over 5000% depending on the odds of your bet.
There are people who choose betting as their sole means of making a living. They use predictive strategies to increase their chances of winning.
Yes, there are concerns that a lot of people lose their savings on betting. We should also know that a lot of people have made incredible amount of money from betting.
Establish a betting shop
You can partner with large betting companies to be their agents. You just need to sign an agreement with them and they will give you access to their betting equipment and software. You will take commissions from the total betting earnings you make in your shop.
This is a very lucrative business especially if you locate your betting shop in a place with high foot traffic. Nigerians still prefer to place bets in a physical betting shop.
There are betting shops in Lagos making over N2 million a day.
You may be surprised that there are businesses that forecasts expected winning numbers of bets for people in Nigeria and they make good money from this business.
If you are skilled in analyzing historical bet winning numbers and predicting the numbers that will win in the future, you can make good money.
Though forecasting services in Nigeria still use primitive methods and guess work. If you can apply data mining and statistical predictive models, you will make a fortune. Once, people know you that you can predict a winning number, they will run to you before making any bet.
I have seen a small eatery selling food and drinks around a betting shop making incredible amount of money. This lady has a small kiosk where she sells noodles and drinks to those who come to place bets in a betting shop, she told me that on a good day, she makes a turnover of over N50,000 and she converts about 40% of the turnover to profit.
Just locate a popular betting shop and set up a food joint around there. You may even ask the betting shop owner if she can allow you to sell food and drinks in the shop.
How to bet for money
Find a betting shop
You need to find the betting outlet you will place bets with. Do you want to bet in Baba Ijebu outlets? Do you want to bet in one of the sport betting companies in Nigeria? You need to choose any of Bet9ja, Nairabet, Merry Bet, Winners Golden Bet, Lions Bet, Naija Bet, Access Bet, Sure Bet 247, Bet Dey and 1960 Bet etc.
Decide whether you will bet online or in shop
You need to decide whether you will use your smart phone or computer to place a bet with any of the betting companies or you will physically visit their offices or outlets to bet.
It is much more convenient to bet with your mobile phone or computer as you can place a bet anytime you wish, even in the middle of the night.
Decide on the amount of money you can bet with
It is advisable you bet with the money you can afford to lose. Betting is like any business, there is a probability that you may lose all your money. Though, there are some strategies you can deploy to increase your chances of winning.
Do not use all your income to bet. It is better to use a small portion of your income to bet and do not be an impulse personality when it comes to betting.
Place bet for money
You need to place the right bet by asking the betting shop attendant to guide you. The betting attendant will receive your payments and place the requested bet for you. If you decide to bet on your smart phone, just pick the bet you want and pay with your debit card.
You must research well so that you can increase your chances of winning when betting.
Popular Betting Companies in Nigeria
There are several betting companies where you can place your bet in Nigeria. I will list a few below:
This is arguably the most popular betting company in Nigeria. The not too educated people, blue collar workers and the not too affluent are the main customers of this betting company.
It is very likely that you will see a Baba Ijebu betting shop in almost all street corners in Lagos. This is to show how widely popular this company is.
Just visit one of their betting kiosks and place your bet.
Bet9ja is one of the most popular sports betting companies in Nigeria. They are also reputed as the betting company with the highest odds and payouts.
You can go to their shops to place a bet or place your bet on their portal.
Merry Bet is also a very betting company in Nigeria. This company usually gives a 100% bonus on your first deposit.
You can place a bet on their portal.
Other betting companies are Nairabet, Lion Bet and Sure Bet 247 etc.
There are several instances where some Nigerians have won millions of naira from placing bets. Place a bet today and who knows, you may win a substantial sum.