Category
🥇
SportsTranscript
00:00 Nigeria has a deep-rooted history when it comes to games of chance and the quest for
00:04 quick wealth.
00:05 From age-long lotto games, to dice rolling, stake on RAM fighting, to sports betting,
00:10 forex trading and cryptocurrency, there is always one option or another for those seeking
00:15 quick fortune.
00:16 According to a report by Grandview Research, the global sports betting market alone accounted
00:21 for a staggering $83.65 billion in 2022 and is expected to continue expanding.
00:28 The estimated turnover of the global forex market was $6.6 trillion in 2022, according
00:35 to a Forex Academy report, while the global cryptocurrency market cap today is $1.09 trillion,
00:41 a 12.45% change from one year ago, according to CoinGecko.com.
00:47 We were curious and wanted to know which of these investment preferences Nigerians engage
00:51 in - betting, crypto or forex trading.
00:54 Here's what we found out.
00:56 Forex is a very big risk.
01:20 I personally have tried it.
01:21 When you try it, when you do demo, it might be going well for you.
01:25 But when you try the real thing, you lost a lot of money.
01:28 Some time ago, years back, tried forex and the money went away.
01:36 I think Nigerians prefer betting because they want to get rich very quick.
01:40 Nigeria, as we are concerned, we are resourceful, but at the same time, some of us, I mean the
01:46 youth now, we are looking for quick money.
01:49 So the investment on long term investment is no more there.
01:56 There are some people in Nigeria, they like to bet on Ninja, Baba Jebu.
02:03 Everybody has his own area of specialization in life and it depends on the criteria you
02:08 belong to.
02:09 Betting is all commerce affair.
02:11 Whether you are educated, whether you are rich, whether whatever, no matter your class.
02:18 But when it comes to crypto, crypto is more complex.
02:24 Crypto is, it needs a skill.
02:28 You need to learn how to trade.
02:32 Also you need to have the mind of investing.
02:35 It has to do investing.
02:37 So I think to some level of people, some class of people, individuals, crypto is still the
02:46 best way to go.
02:48 Get out of bets.
02:52 For amateurs, uneducated, commoners.
02:55 Betting is more realistic.
02:56 If you are a football fan, if you are somebody that follows football normally, or sports,
03:00 any other sports, you can start going to betting.
03:03 You can play more than one, three, five, seven, ten games and you get lost.
03:07 But when you play fewer games, your chances of winning is higher.
03:10 Nigerians would rather bet.
03:12 People believe in seeing what they earn.
03:13 I'm putting my money, I'm getting it back immediately.
03:16 I'm investing in cryptocurrency, maybe the money is going and in the next five minutes
03:19 it has just dropped.
03:20 And causing them a suicide mission and all that.
03:24 Twenty percent might go for crypto and the rest, maybe eight, might go for betting.
03:29 There you have it.
03:30 A snapshot of Nigerians and their choices when it comes to staking their money.
03:35 While some lean towards the thrills of cryptocurrency and forex trading, another group prefers to
03:39 put their money on the line when it comes to football games, guided by their passion
03:43 and trust.
03:44 The question remains, are you more inclined to take a chance on your beloved football
03:48 teams or would you rather navigate the dynamic world of cryptocurrencies and forex trading?
03:52 We'd love to hear your thoughts in the comments.
03:55 I'm Ifenaya Wachiku for Guardian TV.
03:58 Have a great day.
03:58 [MUSIC]