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Betting As a Form of Entrepreneurship

Bet companies are business organizations that is all about gambling - an activity that is characterised by a balance between winning and losing. Gambling involves staking. You'll first of all have to pledge money (in business term, it is investment of capital), and then expecting a certain result which will come in a probability form; a win or loss  (in business term is risk), expecting a particular outcome; either success or loss. Gambling in most bet companies are based on sports.

In Nigeria, some people see betting as a bad spirit since they'll keep staking even after having series of loss. What some of them don't know it's the entrepreneurship drive. It is a kind of entrepreneurship attribute that falls under the Knight Theory. So, you can easily earn money by predicting scores.

Man Playing Gambling From Computer

Companies concerned with gambling provide jobs. Jobs in this companies is for anyone interested in it. You can make it a job for yourself and become an entrepreneur, and you can also work under agents and managers who are also entrepreneurs. 

As it is seen, betting companies, especially those dealing with sports, are enterprises that have so much employees(middlemen and labourers). In this case, the middlemen(Kirzner therory) are the managers of the bet branch(s) in a particular area, while the labourers(Max Webber Theory) are the workers carrying out the daily tasks. Apart from them, like seen above, the patronizers also have the opportunity to benefit by also making investment(a non refundable or non insured one), and receiving desired results sometimes.

From this, we can see how such companies and the people mentioned with it contribute to the development of the nation