Do you know what these names - Chukwuma, Samuel and Adegbite have in common?
Tragically, they are all Nigerians who have taken their own lives over the past three years due to the devastating losses they experienced from gambling.
Gambling is swiftly becoming a societal menace, not only in Nigeria but worldwide.
In Nigeria alone, it's estimated that close to $1 billion is spent daily on online betting.
With over 65 million active bettors each spending an average of $15 daily, the total amounts to a staggering $975 million every day (Techloy).
About 46% of Nigerian adults are involved in some form of gambling, highlighting the widespread participation across the country (VerseNews Nigeria).
As of 2023 one of the largest betting companies in Nigeria, reportedly generates around $1 million in daily revenue (Businessday NG).
While these figures might seem astronomical, they are largely funded by everyday bettors, with their small wagers of N500 or N1,000 adding up to significant sums.
In this article, we'll explore five essential steps to break free from gambling addiction which are:
1. Recognize That You Have a Gambling Problem - We'll discuss the signs indicating a gambling problem.
2. Identify Your Triggers - Understand what drives your urge to gamble.
3. Talk to Two Key People - We'll specify who they are when we dive into this subject.
4. Implement Steps to Avoid Gambling - We'll outline 11 strategies to help you avoid gambling.
5. Get Good Financial Education - The root of gambling often lies in a misunderstanding of finances and building wealth.
Now that we have an overview, let's dive in!
Table of Contents
1. Introduction
2. What is Gambling?
3. Six Myths About Gambling
4. Do I Have a Gambling Problem?
5. How to Identify Your Triggers
6. Who Should You Speak With?
7. Eleven Steps to Avoid Gambling
8. How to Unlearn the Financial Education of Gambling
9. Conclusion
Introduction
I remember the first time I became aware of gambling.
I was coming back from school and saw a group of boys leaving a sports betting shop, shouting angrily because their "tickets cut" which is a way of saying they lost their bet. At that moment, I decided gambling was for people not interested in doing anything meaningful with their lives.
I realised that gambling isn't just a pastime for fools; it's an addiction that can ruin even the most sensible of men.
What is Gambling?
Gambling is the act of wagering money or something of value on an event with an uncertain outcome, with the intent to win more money or items of value (Reference Module in Neuroscience and Biobehavioral Psychology, 2017)
The key points here are betting something of value on an event with an uncertain outcome AND aiming to win more than you wagered .
Six Myths About Gambling
1. "Gambling is a way to build wealth"- This is false.
2. "Only poor people or those with financial problems gamble" - Incorrect.
3. "If I gamble long enough, I'll get lucky and win" - Not true.
4. "There are techniques to predict outcomes accurately and win big in gambling" - No, there aren't.
5. "Only men gamble" - You say what?
6. "Only regular gamblers have a gambling problem" - Not necessarily.
You can have a gambling problem even if you don't gamble regularly.
Do I Have a Gambling Problem?
The first step to solving a problem is acknowledging it. According to the American Psychiatric Association , here are nine signs you may have a gambling problem:
- Frequently thinking about gambling.
- Needing to gamble with increasing amounts of money.
- Unsuccessful attempts to control or stop gambling.
- Feeling restless or irritable when trying to cut down on gambling.
- Gambling to escape problems or stress.
- Returning to gamble after losing money to break even.
- Lying to hide gambling habits.
- Losing significant opportunities and relationships due to gambling.
- Relying on others for financial relief caused by gambling.
How to Identify Your Triggers
No one gambles just for the sake of it; there are underlying factors, or triggers. Common triggers include:
1. Stress (job-related or emotional).
2. Emotional upheaval, such as depression or anxiety.
3. Loneliness.
4. Other addictions (e.g., drugs or alcohol).
5. Environmental factors, like friends or social media.
- The type of gambling you engage in.
- Time spent gambling.
- Amount of money lost each time.
- Your feelings and circumstances before gambling.
- How gambling made you feel.
- How you felt afterward.
- People who influenced your gambling.
This journal will help you recognize patterns and identify triggers and ultimately help you get tailored solutions.
Who Should You Speak With?
Addiction thrives in secrecy. Open up to:
1. Someone who loves you and won't judge you - This could be a parent, spouse, sibling, or friend. They can provide support and accountability.
2. Someone with experience - This might be someone who has overcome gambling or a professional like a therapist. They can offer practical advice and strategies.
Eleven Steps to Avoid Gambling
1. Stop Keeping Spare Cash Around - Use a savings app like Jollof+ to lock away extra cash with the Jolloflock feature.
2. Block Ways to Borrow Money - Delete loan apps and inform loved ones not to lend you money.
3. Remind Yourself Why You Should Stop - Consider the relationships and opportunities you could lose.
4. Evaluate Your Relationships - Distance yourself from people who encourage gambling.
5. Avoid Gambling Houses - Stay away from casinos and betting shops.
6. Practice Contentment - Learn to be satisfied with what you earn.
7. Sanitize Your Virtual Space - Delete gambling apps and block gambling sites. Unfollow persons who encourage you to gamble on social media.
8. Practise the 5-Second Rule - When you feel the urge to gamble, take a deep breath, count to five, and remind yourself why you chose to stop.
9. Find Alternatives to Deal with Stress - Try exercise or meditation.
10. Stay Busy - Engage in meaningful +activities to reduce idle time.
11. Give Yourself Grace - Relapse might happen; don't beat yourself up, just keep moving forward.
Bonus: Join a Support Group - Being part of a community with similar struggles can be very helpful.
How to Unlearn the Education of Gambling
Many start gambling believing it will make them wealthy, but building wealth should be based on predictable processes, not luck.
Consider these alternatives:
1. Budgeting - Helps manage finances effectively.
2. Saving - Set money aside for future use with a high-interest savings application Jollof+. Jollof+ offers up to 21% NET interest, allowing you to earn while you save. 3. Limiting Debt - Reduce debt as much as possible.
Conclusion
Overcoming a gambling addiction is tough, but with the right strategies and support, you can do it.
We hope you found this article helpful, and we are rooting for your success!
