Betting in sports has been going on since the days of gladiator events in ancient Rome, where the wealthy merchants and royalty would bet on the fighters in the arena. Times have changed, but the craze for sports betting thrives more than ever today.
In Nigeria, if you want to entertain yourself by betting on your favorite sports team, you’ll not be disappointed. Many online bookmakers offer handsome bonuses such as the Bet9ja promotion code and deals to open an account on their site and start making bets. You can bet on a wide array of sports, from national to international, since most major European and UK online sportsbooks accept Nigerian bettors.
How to place a bet in Nigeria?
According to a News Agency of Nigeria (NAN) report, around 60 million people in Nigeria, aged between 18 and 40 years, are involved in sports betting. This population spends approximately ₦2 billion by betting on sports per day, which snowballs into about ₦730 billion per year!
From F1 racing to English Premier League to Finland’s pesapallo, you can bet on almost any game. The first thing you have to do is identify an online bookmaker in Nigeria or a bookmaker that accepts bets in Nigerian currency. After selecting, read their policy thoroughly and open an account on their website.
To open an account, you will usually need to deposit a sum of money to start betting on the platform. But to place bets successfully and expect a fair return on your money, you first need to understand the basics of betting and the game of focus.
Favorites and Underdogs
You may have heard the phrases “What are the odds?” and “Who’s the favorite?” in numerous sports settings. The odds determine the probability of winning for an athlete or a team. The higher the odds, the lesser is its chances of winning.
The ‘favorite’ of a game will have lower odds stacked against it, as the bookmaker believes that the team is more likely to win the match than the other team, which is labeled as the ‘underdog’. Usually, if you bet on the underdog and win, your payout will be significantly more. But it would be sensible if you did not place a bet solely based on the odds.
While placing a bet, you will see (+3) or (-2) against the individual teams. This is called a spread, which the bookmaker gives against the teams to make things more interesting.
For example, if you want to wager on Manchester United in an EPL match against Chelsea, and the odds given against Manchester United is -2, it would require Manchester United to win the game by more than two goals for you to win. But if you place your money on Chelsea, and it loses the game by less than two or two goals, you would still win something against your wager.
Money lines are a bit straightforward in the way they function. In this type of market, you choose a team that you presume would win the game. You could pick a favorite or an underdog to place your bet, but the amount and the payout will vary as per your choice.
For instance, if you want to place a money line bet on Manchester United with the odds of -200 during an EPL match, it means you will have to shell out ₦200 to win ₦100 on your bet, i.e., if your team wins. But similarly, if the odds were +200, you would have had to bet ₦100 to win ₦200.
The plus sign denotes an underdog, and the minus sign is placed on the favorite, or the team that is most likely to win.
Many people wonder whether handicap bets are different from spread bets. The answer is no. Handicap bets are pretty much the same as spread bets, but they are known by different names in various countries.
One of the most popular betting markets, the ‘over/under’ is also known as the ‘total’ market in sports. In this kind of betting, the bookkeeper will consider the total number of points scored in the match by both teams.
To help you better understand, consider a match between Brazil and Argentina in the Copa América finals. If the total bar is set as five by the sportsbook, you can wager that the total number of goals scored by both teams will be under five or over it. If you bet over, and Brazil and Argentina score more than five goals, you will go home smiling. But if it is less than five, you will lose the bet.
Can you place a wage during a game?
Yes, in most cases, you can place bets during the game. These bets are known as in-game bets. It is important to note that the odds given against them are constantly updated and susceptible to change. The payouts are also much lower as opposed to bets placed before the starting of the game.
Always remember that sports betting, or any gambling, is meant primarily for entertainment. You should consider caution and maintain responsible betting habits to stay clear of complications.
Do some research and select a reputed online bookmaker to start on this journey. Some bookmakers offer significant rewards, such as the Bet9ja promotion code that you can avail of at the time of joining.