The business of Sports betting in Nigeria is a highly lucrative one and it keeps raking in millions daily for its owners.
However, the House of Representatives has resolved to stop sports betting in Nigeria. It is asking the National Lottery Regulatory Commission (NLRC) to comply with the Lottery Regulatory Commission Act, of 2005.
The resolution followed the adoption of a motion by Rep. Kelechi Nwogu (PDP-Rivers) at plenary in Abuja on Thursday, February 15.
Nwogu said weak or neglected regulations of sports betting have given rise to mental health problems, such as depression, anxiety, suicide and addiction.
“Betting Led To Financial Problems”
Additionally, he said that it had also led to strain or broken relationships due to lying or stealing from friends and family, financial problems, legal issues, and job loss due to excessive loss or debt.
“Betting has given rise to increased crime rate and eventual suicide,” he said.
He harped on the need for campaigns to prevent the negative social impact of lottery and underage participation.
Adopting the motion, the House urged the Federal Ministry of Information and National Orientation to conduct a comprehensive nationwide campaign to raise public awareness about the negative impact of youth participation in sports betting.
Also Read: Sports betting revenue hits a record of $4.3B
The House also mandated the Committee on Inter–Governmental Affairs to conduct a Public Hearing on the dangerous effects of sports betting in Nigeria.
Also, it urged the committee to report back to it within four weeks for further legislative action.
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