Heavy Winnings Rock Sports Betting Business

.Photo: Chairman, Winners Golden Bet, Hon Idowu Obasa (r) applauds as a winner receives his wining cheque from the company recently. –

Sports betting business which is growing faster than expected in Nigeria today is now hit with unprecedented winnings. 
This has been a major concern for many of the operators. Today, full-fledged sports gaming is gaining momentum in the country through the popularity of sports betting sites. Following the ever growing presence of these betting sites and centres, and with many gambling firms now opening their doors, sport fanatics are taking their passion to another level, as many soccer lovers have realised that the match scores they predict for fun could actually fetch them some bucks.
But this has not been the case in the last three weeks when the winnings on coupons (as the pools punters would call it) have hit the betting companies harder that they are now finding it difficult to meet up payment of winnings to their clients. It was reliably gathered that these unprecedented winnings are now affecting the capital base of most of the betting companies to the extent that they are running from pillars to posts to source for money to meet up with financial obligations to pay winnings in order not to lose their customers.
“What you are saying is the truth of the situation in sports betting business in the country today. The last three weeks has not been easy for all the sports betting companies,” said Mr. Emeka Nwachukwu at the National Stadium, Surulere, Lagos at the weekend.
“Some of these sports betting companies, which I won’t want to mention their names for security reason, have not paid winnings by now, which is very unusual. I think the reason is not far-fetched as the number of people patronising them is increasing daily,” he said.
To Mr. Ade Oyetunde, a spare part dealer in Mushin, “the latest scenario portend danger to this fast growing sports business and I’m afraid it may take us back to what is happening in pools business, where winnings are delayed because of promoters’ inability to meet up
”Despite the failure of some of the betting companies to pay their clients’ winning, informed sources disclosed that Winners Golden Bet has been able to weather the storm.
Ayo Ogundele and Tunrayo Olabisi, who said their preferred choice is Winners Golden Bet at Agege area of Lagos State testified to this claim.“Winners Golden Bet has never defaulted in paying my winnings and some of my friends who patronised the company are also living witnesses to this. I heard that many stakers could not get their winnings from some betting companies, but the case is the difference with Winners Golden Bet,” Ogundele said.

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