Chasing Wins, Losing More: Inside the Betting Trap Swallowing Nigerian Students

Opemiposi Olalekan, a Part 2 Sociology and Anthropology student at Obafemi Awolowo University (OAU), is still coming to terms with a decision that cost him ₦120,000. The money entrusted to him by a friend for hostel fees was lost on an online betting platform.

The situation escalated quickly as he’s unable to return the money when his friend needed it, so he reported the matter to the departmental executives and the Students’ Union. Overwhelmed by the public exposure and the weight of disappointing someone who trusted him, Opemiposi said he isolated himself and struggled deeply with the consequences of the loss.

From Minor Win to Huge Losses

Opemiposi said he was first introduced to betting by friends. He remembers staking just ₦100 and winning ₦15,000 on his first attempt. However, as time went on, the losses began to outweigh the wins. “The happiness I get from it now is nothing compared to the sadness it brings,” he said. 

His history mirrors the experiences of many students across Nigerian campuses who gamble with school fees, savings, borrowed money, and even funds meant for feeding and transportation, more with the hopes of landing life-changing wins. 

A Common Campus Struggle

In an interview with CAMPUS REPORTER, Imoleayomi Rebecca, a 400-level Plant Breeding and Seed Technology student at the Federal University of Agriculture, Abeokuta, traced her entry into betting to a free coupon she received from PalmPay. 

‘’I’ve stopped betting now, but it started out of curiosity after I received a free betting coupon from PalmPay, and I won on my first try,’’ said Rebecca. ‘’Encouraged by that win, I kept going, and placed more bets.’’ ‘’I even used my school fees at one point,’’ she said. 

Similarly, Olujide Aishat, a Chemistry student at the University of Ibadan, said she had been betting for about a year. “I just fund my wallet, get it up to a certain level and lost it all. I guess it’s about the dopamine hit,’’ she said. 

According to her; ‘’it affected my savings and academics greatly because I lost a lot of money, including money borrowed from loan apps.’’ Jokingly, she added “Maybe loan apps will soon post my picture because I’ve borrowed a lot from them.

Unlike sports betting, Aishat said she mainly plays casino games because betting apps are accessible to anyone with a smartphone.

Peter,  a final year student at Lagos State University, described betting as a habit that slowly became difficult to control. 

“I started betting just for fun, but now it’s hard for me to stay away,’’ he said. ‘’I stay up late checking odds and following games instead of reading, and when I lose, I feel stressed and guilty.’’ I’ve spent money meant for food and transportation trying to recover my losses. Mentally, it’s draining,’’ he added. 

Peter admitted that despite several attempts to stop, he keeps returning to betting.

Normalisation and Pressure Around it

Courage, a 200-level Psychology student at the Federal University, Oye-Ekiti (FUOYE), believes that betting has become normalised among students.

‘’Betting hasn’t really affected me negatively because I only bet when I can afford to lose,’’ he said. But, I’m always excited whenever I want to bet, even when I know I might lose.”

Although he claims he does not gamble frequently, he admits feeling pressured because many of his friends bet regularly, sometimes staking as much as ₦200,000, including school fees.

“We’re all guys and we watch football, so betting is everywhere around me,” he said. “I’ve seen students use their school fees to bet because they’re confident about certain odds. Betting apps are very accessible. I can even log into my account through another person’s phone.”

The Role of Content Creators and Social Media

Beyond peer influence, content creators and social media personalities are also shaping how students perceive betting. On platforms such as TikTok, Instagram, X, YouTube, and Telegram, betting slips, prediction videos, “sure odds,” and sponsored promotions are frequently shared with thousands of followers.

Speaking with Campus Reporter, Adejumo Olamide, a content creator popularly known as “Son of Peace” across social media platforms, said betting predictions should not be viewed as guarantees.

“Actually, it is all about a 50/50 game. For instance, if I predict games on my platform for my audience, I’m doing it for free. If they win, they won’t come back to pay me; they’ll only comment, ‘Thank you, sir’ or ‘Boss man,’ and that’s all,” he said.

He added that followers who choose to stake money based on predictions do so at their own risk.

“If they stake all they have and lose, I don’t expect them to wait for backup or a refund from me because it’s just a chance of winning that I gave them. That is why it is called prediction; it is not 100 percent sure. The probability of winning may be higher than losing, but nothing is guaranteed.”

However, the widespread sharing of betting tips, “sure odds,” and prediction codes on social media platforms has contributed significantly to the growing betting culture among young people. For many students, influencers and content creators have become trusted sources of betting guidance, reinforcing the perception that gambling is a normal and potentially profitable activity.

The constant visibility of winning slips and successful predictions online can also create unrealistic expectations, often highlighting rare successes while obscuring the financial losses that many bettors experience. This has further normalized betting among students already facing economic pressures and searching for additional sources of income.

The Numbers Behind the Trend 

A questionnaire shared with 45 students across Obafemi Awolowo University, University of Ibadan, and other institutions revealed that about 58 percent of respondents had engaged in betting at least once, while more than half of those who bet reported participating weekly or daily.

Nearly 35 percent said they had lost money they could not easily replace, while roughly one in four students admitted betting had negatively affected their academic focus or performance.

Beyond this sample, a broader 2025 study published by the National Library of Medicine involving 406 students at University of Calabar found that 36.7 percent had engaged in sports betting, while 30.3 percent had participated within the previous year.

The study showed that more than 80 percent of bettors were male, while nearly two-thirds preferred online platforms, highlighting how mobile technology has made gambling increasingly accessible to students.

Researchers also found that 87.8 percent of respondents cited financial gain as their primary reason for betting. About 14.3 percent showed signs of problem gambling, while nearly half of recent bettors exhibited harmful gambling patterns that affected academics, with 64.2 percent reporting reduced study time and declining focus.

Other research published in Frontiers in Psychology notes that gambling is becoming increasingly normalized among young Nigerians, largely driven by economic hardship and easier digital access. Researchers found that many young people now see betting as a quick means of financial survival.

Similarly, another study by the National Library of Medicine noted that although betting is legal in Nigeria under the National Lottery Act of 2005, enforcement remains weak, especially online where age verification systems are often ineffective. Researchers argue that existing regulations have failed to keep pace with the rapid growth of digital betting platforms.

How Betting is Marketed

Speaking with Campus Reporter, Dr Opeyemi Adewale, a Communication and Media Studies lecturer, traced Nigeria’s betting culture to older forms of street gambling that have now evolved into sophisticated digital platforms.

According to him, one of the major concerns today is the lack of regulatory warnings attached to betting advertisements.

“When you have a betting advert, there should be disclaimer cards and mandatory warnings on all betting promotions,” he said.

He argued that social media has intensified the situation by turning nearly every digital platform into a space for betting promotion.

“Nigeria is a cultured society and deserves more sanity in how these products are marketed to young people,” he added.

What Experts Say

Dr Ola Falade, an Economics lecturer at Obafemi Awolowo University, believes the attraction of betting among students is deeply connected to economic hardship.

“Most students operate under tight budgets with limited allowances and rising living costs, making betting appear like a low-effort means of supplementing income,” he explained.

According to him, betting companies exploit this vulnerability by allowing very small stakes while advertising potentially massive returns.

He added that high youth unemployment, easy mobile access, and peer influence all contribute to keeping students trapped in betting cycles.

A psychology lecturer who requested anonymity also explained that early wins often create a false sense of control that keeps gamblers attached to betting despite repeated losses.

“The dopamine rush associated with betting is one of the strongest psychological hooks,” he said. “It keeps people chasing losses even after the financial damage becomes obvious.”

What Research Institutions are Doing 

Nigeria’s major gambling law, the National Lottery Act of 2005, sets the legal betting age at 18. However, researchers note that the law predates the rise of online betting platforms and has struggled to address the realities of digital gambling.

Age verification on many betting apps remains weak, allowing underage users to access gambling platforms easily. 

At the university level, there is currently no clear or unified institutional framework addressing student gambling across Nigerian campuses. Studies from institutions such as University of Ilorin and Delta State University show that gambling is widespread among students and linked to academic and mental health challenges.

However, institutional responses remain fragmented, often limited to informal warnings, disciplinary measures, or academic research rather than structured prevention and support systems.

Still at the Dam

Opemiposi eventually walked away from the dam. He is still at OAU, still in the same department, and still dealing with the consequences of a loss that began with ₦100 and a stroke of early luck. He has not said whether he still bets. What he does know is that the excitement betting once gave him no longer outweighs the emotional and financial burden it now carries.

Across Nigerian campuses, in hostels, lecture halls, betting groups, and WhatsApp conversations where odds are shared like daily gossip, thousands of students continue making the same calculation, risking small amounts in hopes of landing life-changing returns, often without fully understanding how costly the pursuit can become.