Why dont we consider successful sport betting company founders like Akin Alabi of Nairabet and Dotun Ajegbile of 1960bet as Tech overlords??? Why do we give preference to people like Jason, Sim and Oviosu…
1 Like
YES! Oh my God! It’s the most amazing tech business in Nigeria today (after Ring Back Tunes). The revenue (and profits) are insane!
The only problem is that there’s almost no way to have monopoly. The only monopoly in sports betting is the company that provides the data and back-end software (ask @asemota). So that means that anyone can get an engine and try and break into the market with bigger wins, thinner margins or crazy promotions. I suspect that all the players are trying to make some money; not many new players are trying to impose their will/presence on the market.
4 Likes
Yeah, My Angel Investor is Akin Alabi, I know most of these things… But, i know you can buy the softwares from SB, same as you can buy wordpress theme or setup a blog, but scaling it is the real business…
Yeah, thats true…
Maybe because betting is not socially acceptable or something that makes a positive impact despite the amounts of money it makes for it’s founders (*still in pain)
Is there any regulations for online gambling in Nigeria? Any online casino?
Bitcoin’s gambling is very lucrative due to the fact the payment is electronic and untraceable.
A Bitcoin site SatoshiDice was sold for $11.5 Million (126,315 BTC)
Sports Betting clashes with my ethical belief and personal convction. I’m not forming saint but I’m Ant-betting.
2 Likes
But you are willing to place a bet on some sort of “belief” that there is either a mansion or 12 virgins waiting for you when you die? By the way what are the odds on the bet for you to be buying in with 10% of your salary or charity donations?
1 Like
LOL. I have never looked at it like that. You’ve ruined my childhood. 
1 Like
Investment, would have produced a more fitting analogy than betting.
2 Likes
Just want to add that even in Cameroon we have these betting startups. They have really figured out the how to carry out an online business in a predominately offline market. I really love the way they use tech. They’ve got tablets to live stream results and update bets, etc and wireless boxes for registering bets. They’re definitely tech startups.
1 Like
I define startups basing on Investopedia:
"A startup is a young company that is just beginning to develop. Startups are usually small and initially financed and operated by a handful of founders or one individual. These companies offer a product or service that is not currently being offered elsewhere in the market, or that the founders believe is being offered in an inferior manner.
So a young sports betting company using technology to offer a service is a Startup. But not all sports betting companies are startups, not Bet-at-Home in any case…
I can’t agree more!
A betting startup invests in the ability to toy with the minds of those interested in it. However** they never** achieve their success themselves by gambling, betting, toying, nor assuming, they take calculated risk and work things out on how to get the real Punters to come, it cannot be likened to mathematics where 2 + 2 = 4.
It takes Manliness to understand “Punters and Gamblers don’t usually Win” I believe i can always, i want to grow from the stage of little failure to mastering the Art of winning, if not every time at most 90%.