Money Talk

On the first edition of the Money Talk “My Side Hustle” series, we spoke to Tunde, a 24 year old Chess Tutor and Mark, a 25 year old student about how they supplement their income through online sports betting. They shared their motivations, concerns and their craziest betting experiences with us!

So how did you get into online betting and how long have you been doing it?

Tunde: I got into betting through adverts and my friends. They were already betting so I asked a few questions and they put me through. At first it looked so simple. You use three or four teams to play and boom you’re in money (laughs). So now I’ve been betting for like 8 years.

Mark : I haven’t been betting for too long, just a couple of years. I got into betting mid-April 2018. I called a few games correctly and saw too many people making money from basic predictions so I figured why not!

How do you pick your games, what do you look out for?

Tunde: I do extensive research. I’m not like the regular bettor who goes to the shop and picks games based on his favourite team. I don’t mix emotion with betting. I pick games based on statistics and information. I look for teams from countries that aren’t popular, dominant teams in Europe and Asia that have great stats. Those are the games I look out for.

Mark: It’s pretty analytical. I pay attention to trends, the team’s motivation, the league, and then form bets but not in the conventional way a fan would. For example, if a team has been firing on all cylinders, you would think they’re a good bet yeah? Wrong! I consider them risky because players eventually get fatigued. I’m conscious of in and so on.

Is there anything you do before every bet? Like a superstition or ritual for good luck?

Tunde: No, there’s nothing like that for me because whatever prayer or fasting you do where you are, it doesn’t affect what they are doing in Asia or Europe. You just have to wait for the outcome.

Mark: No I don’t. But if you know anything for confirmed victories, please share! (Laughs).

How much is your biggest win? What did you use the money for?

Tunde: The game is more about stacking up wins on a roll. But, at once my biggest win was about 200 thousand naira. I can’t remember exactly but I think I used the money for general upkeep.

Mark: I’m more of a low stakes, high risk reward bettor so my cash outs aren’t usually too massive. I bet with low figures and spread it around so I can hit. I think my best pay out was 1 thousand for 30,000. I can’t remember what I used the money for though. Probably to bet some more.

How much is your biggest loss? How did you react?

Tunde: My biggest loss was about 100,000 thousand. Sure it’s painful but to me my losses are strategic. I don’t chase my losses. I just call it a day and plan for the next weekend.

Mark: Like I said, I bet with smaller amounts. So my worst loss technically was when I bet 8,000 and lost it all. But the next day I was back, I bet with 2,000 and won it all back. Low risk, high reward. There was this time though I lost a 1 million naira pay out (from a 1k bet) through one game! I laughed away my sorrow that day.

Have you ever used money that you planned to use for something important to place a bet? Or used your last cash for a bet?

Tunde: I don’t think I have ever done that. I’m a disciplined bettor. It was in my rules. Don’t ever borrow money to place a bet. Don’t ever bet money that you can’t lose. I have some rules I made for myself and my friends and I was firm on those rules.

Mark: Yeah of course. I have used my last cash. Just this weekend, the money I was meant to use to buy cooking gas, I used it to bet. So far though I’ve always got it back one way or the other

Do you worry about if you’re addicted or do you still think it’s just a side hustle you can stop at any time

Tunde: At some point a side hustle, if it’s working well, can become an addiction. Yeah I was addicted when I first started but at some point I gained some control over it. I became strategic. Unlike some people that need to bet every day. Then it wasn’t a side hustle for me, it was a real hustle because I was making a lot of money. I have tried to stop but I came back.

Mark: Oh I’m addicted. I’m aware. Started as a side hustle but c’est la vie (laughs). I think about stopping after every bet but no, I won’t stop.

What’s the craziest story you’ve experienced in betting?

Tunde: I have a lot of crazy stories. I was a part of a bet group filled with a lot of brilliant minds. We became a sort of family. We were different from the regular bettors because we were so strategic. We had guidelines, rules and we used to make a lot of money together. There was a time we had a guy who placed a huge bet. One million naira. He won three times and lost the fourth time.

Mark : No crazy stories per se but at this point, I’m convinced most betting companies have jazz that no one knows about. There’s so many of us betting, I wonder what happens if too many people win. Would the company go bankrupt overnight?

Do you have any interesting side hustles you would like to be interviewed about and share? Send us a DM on social media! We can’t wait hear your stories !

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