A young man named Lamech opens up about the devastating consequences of his two-year struggle with online betting, resulting in a loss of a staggering sum of KSh 6 million (N33.5 million) and three luxury cars.
Lamech's downward spiral began in 2018 when a friend introduced him to online betting. Initially seeking financial relief, he borrowed KSh 50 (N279.91) and turned it into a profit of KSh 3,000 (N16,794.30) on his first attempt. Instead of repaying the borrowed amount, Lamech succumbed to the allure of online betting.
As he delved deeper into online betting, Lamech experienced initial success, earning tens of thousands and even hundreds of thousands of Kenyan Shillings on good days. Living with his parents and being a university student, he neglected to consider more stable investments.
However, his fortune took a turn for the worse between October 2021 and October 2023, leading to the loss of all his money. Lamech admits to being addicted to the game and surrendering household items at significant losses, including KSh 4 million and three high-end cars. His total transactions over two years amounted to over KSh 6 million.
In his words;
“I went to be with it and earned KSh 3,000 (N16,794.30). I never returned the money, but I continued betting on the sites. The game was new, and since the developers wanted to win clients, I was making good money. Within no time, I was getting tens of thousands per day and eventually hundreds of thousands on good days.”
“My transactions were so many because money was coming in and going out. All went well; I could buy items like a TV, radio, and clothes. I did not care to invest because I was a university student and staying with my parents, so they had my back.
“I was so addicted to the game, and because of the frustrations of losing, I had to give up my household items at great losses. I lost KSh 4 million and three posh cars. My total transactions for the two years amounted to over KSh 6 million. But now I am broke.”
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