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Sports Betting: A menace to saving among the youth


One would sit and wonder, when and how did sports betting came about. An idea crept in when people could tirelessly argued about football matches and predict outcomes. This passion later turned to something different over a short period of time.

People will dare themselves to see whose prediction was right at the expense of an item they used as a collateral. Owing to this, some entrepreneurial minds setup companies to satisfy this growing need.

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Some sports betting companies in Ghana are Betway, Betpawa, SportyBet, Soccabet and 1XBET etc.

Particularly in Ghana, the large number of youth have registered to these sports betting companies. The patronage can affirm that betting is here to stay.

However, the desire for one to win a bet has been the kart that drives them to stake the more. Youth in Ghana complain bitterly about unemployment but the little money they get, sports betting becomes their last resort to getting a shot at making huge sums of money.

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The betting industry has not been left out in the technological advancements. Thus, sports betting companies have an active online platform that works perfectly as the work in shops.

Now betters can sit in the comfort of their homes and still go about their betting jobs. This also means that minors are able to bet, though the National Gaming laws prohibit them. Here comes the pivotal question, how do we regulate minors indulgence in betting.

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The Ghana Gaming Commission sanction minors who are not 18 years and above who stake bets.

To some, sports betting is the fastest way of making money but unknowingly, another way that takes away the idea of saving.

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