Phone seller goes bankrupt after losing GH¢362K to sports betting

A Ghanaian entrepreneur who once ran a thriving phone accessories business has recounted how his life took a devastating turn after losing his entire business capital to a sports betting platform known as Aviator.

Speaking on Sompa FM with Oheneni Adazoa, the young man who chose to remain anonymous revealed that he was persuaded by a close friend to try his luck on the Aviator platform, believing it would multiply his earnings.

Tempted by the promise of quick profits, he diverted about GH¢350,000, his entire business capital, into the betting scheme. Unfortunately, he lost it all within a short time.

MUST READ: 'It's hard being in prison' - Ex-footballer Robinho says from jail as he clears the air on rumours

He lamented,

I had money and a shop selling iPhones and accessories. A friend introduced me to Aviator and convinced me to try it. Since I started, I’ve spent all the money I used to run my business, almost GH¢350,000, and lost everything. I even took a loan of about GH¢12,000, hoping to recover, but I lost that too

The businessman admitted that what began as a harmless game soon became an addiction. He said the occasional small wins kept him hooked until he was completely broke.

READ ALSO: Top 10 Smallest African Countries by Population Size

He added,

Sometimes you win, but you get addicted over time. Now, I’ve locked my shop and owe about GH¢70,000. I’ve stopped betting, and I’m praying to recover

His story serves as a cautionary tale for Ghanaians,, especially young entrepreneurs, about the dangers of unregulated online betting platforms and gambling addiction.

Key Rules and Responsible Betting Guidelines

To avoid similar financial ruin, experts and the Gaming Commission of Ghana advise bettors to follow these rules:

Bet with disposable income only – Never use business capital, loans, or essential funds.

Set betting limits – Establish a clear budget and never exceed it.

Avoid chasing losses – Accept losses as part of the game and walk away.

READ MORE: 371 Referees Caught in Betting Scandal: Turkish Football faces massive match-fixing probe

Bet for entertainment, not income – Gambling should never be viewed as an investment strategy.

Seek help if addicted – Those struggling with gambling addiction are encouraged to contact licensed counselling centres or helplines for support.

This incident underscores the need for stronger financial discipline and public education on responsible betting, as more young people across Ghana turn to online gaming in search of quick wealth.