Wealthy Nairobi Man Loses KSh 4m, Posh Cars After Participating In Betting

• Lamech painfully shared about his betting habit that cost him millions, leaving him broke, almost begging for food
• The young man said he lost over KSh 6 million in two years because of the wasteful habit that had taken hold of him
• The man from Nairobi said he had to give up his precious assets, including three luxurious cars, in his attempt to recoup the lost money

Nairobi - A young man has heartbreakingly narrated his story of losing millions of money in two years.

Lamech said he had been reduced to zero after losing KSh 6 million in a couple of years because of an addiction.

He said he was hooked on online betting, which he started in 2018 after being introduced to it by a friend.

How much can one use?

Speaking to TUKO.co.ke, Lamech said poverty pushed him to ask for money from his friend, who generously gave him KSh 50.

"I went to be with it and earned KSh 3,000. 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," he said.

Can a millionaire be broke?

However, the life of the Nairobi man spiralled from October 2021 to October 2023 as he quickly lost money.

He would put money on the betting sites, but he was not getting the returns he wanted, leaving him in massive debt.

"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," he said.

Do Kenyan university students gamble?

Similarly, a Kenyan university student addicted to betting claimed he lost school fees.

The second-year university student took to social media to share his addiction to betting, which saw him lose many resources.

The desperate young man said he had been betting since Class Eight and struggled to leave the wasteful habit.

Kenyans on social media expressed mixed reactions, as some offered help while others made fun of it.