GAMBLING: THE KING OF SIDE HUSTLES?

“The gambling known as business looks with austere disfavor, upon the business known as gambling”

-Ambrose Bierce

‘Tinted windows, jet black G-wagon, a Hilux convoy following closely behind, definitely promising’, Ijaniki thinks to himself. ‘My Oga!’, he salutes as the ‘big man’ walks briskly out of the bank. “Give him something”, Mr. Big Man orders one of his escorts. A crisp one thousand naira note is handed to him. A myriad of prayers and thank you’s later, Ijaniki returns to his security post. He thinks to himself of the fifty thousand naira he is going to win when he plays the five sure numbers for this week’s betting game. The anticipated win surpasses the nagging probability of loss for him. Life itself is a risk, isn’t it?

To gamble is simply to take a risk in the hope of a desired result. Every step you take, every decision you make in life is more or less a gamble, because in our world today, nothing is certain. The closest we get to certainty is going for that which is almost certain, keyword being almost. So it is established, no one is ‘innocent’ when it comes to the act of gambling. Why then is there such a great aversion towards gambling, why is this deed which is a huge part of our daily lives looked upon with disdain, as a vice of the desperate, delinquent and dishonest- especially when money is thrown into the mix?

The general perception around gambling is that of loss- you take a gamble on a new business and it fails; you place a bet on your favorite football team, after a ten-match unbeaten streak, but somehow, they lose this time. In reality however, loss is a drop in the ocean, when compared to the upsides of gambling.

Gambling comprises of three key elements- consideration (the amount being wagered), risk, and a prize . However, the determinant as to whether a gamble would be successful or not, is the risk factor. The risk factor simply being luck or chance. Looking at this in the practical sense, the consideration usually involves a minute if not completely negligible amount of money, leading up to a juicy prize. It is interesting to note that the consideration in gambling is not akin to the ideal concept of risk and return in business. This concept states that the higher the return sought, the higher risk or consideration to be undertaken. In gambling however, the lowest consideration could grant you the highest possible return. Where exactly is the loss in that?

Without doubt, a side hustle could address financial obligations, nonetheless it would take a chunk of your investments and a dash of long-suffering. Let me tell you what your average side hustle would require. First, you need a market- whether it’s an e-market or a physical space, you would need people to bless with the goods or services you’re providing. Another thing you would need is capital, because how else would you be able to fund your brilliant business ideas? Don’t forget the hours and manpower you would have to invest to keep your business up and running. All this for a side hustle! Seems a little too tedious, don’t you think?

In case you still haven’t caught the drift, gambling- the king of all side hustles, is not your average side hustle’s mate. It requires only one thing of you, willingness to take risks. It is really that simple. You might be thinking to yourself, “What about the consideration involved, the money required to place the bet?”. Well, if you ask me, that ten naira is highly inconsequential when it holds the promise of fifty thousand naira in view.

Now tell me what is stopping you from being a facilitator of the king of side hustles?

In the words of our countryman, Speed Darlington, ‘Take risk and succeed’.

Written by

Entrepreneur! I believe you can’t compete with destiny so I hope for the best and plan for the worst

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