POS or Betting Shop Which One Is More Profitable?

[moonchild]

POS is a business model that deals with sending and receiving money, it performs the basic operations of a bank and a lot people patronise it, that's why it's littered all around the country, mode of making profit is through commission through each transaction.

Risks:

Theft and fraud tendencies, a lot I'd bad eggs have made POS points their target of operation by either swindling the agent through fake alert or confronting them with arms to rob them of their money.

Profits might be slow because the commission is just 100 naira per 10k.

Betting shop on the other hand, deals with placing of bets and also cashing out of winnings, to start this business you need to register with a betting company as an agent and you'll be giving the equipments that you need, this business also deals with location, because the more traffic, the more bets people will place.

If we look at the online stat, we'll notice that, bet9ja is the most visited website in Nigeria hence making betting shop the viable option in contrast to POS.

Risks

You might have to deal with fights because touts will surely populate the place.

Your betting shop can also be robbed because it deals with cash transactions, so you need to be conscious of your location.

 

[Mataracy]

Both POS and Betting are risky but I will prefer POS because the risk of POS is more bearable than that of Betting in the sense that when some body its more saver but betting lose is 50/50 risk.
Though the gain on POS is very small compare to what some can make withing just a few days buy I still prefer it.

 

[Mandy96]

For me, I think I will choose POS over betting, the reason is that POS is more reliable than betting, well one could make tons of thousands from bet business but the question is, can you stand the loss when it occurs. It mostly showcase when you least expect it. Imagine you having someone that just won a sum of five hundred thousand naira unexpectedly, meanwhile you just started it and you have not even made any money close to that amount, it simply means you will have to go to the extent of considering taking a loan. Although every job has its downfall but not when the risk is so liable to happen

 

[Sherman198]

Both POS and betting business are actually common in Nigeria as there are cool money to earn from these businesses. I have seen people made pure fortune through having bet9ja game shop. Personally, I will say having bet9ja shop still highly profitable and lucrative than POS business. I believe people that engaged in betting these days are uncountable especially with bet9ja. Though, there are risks, which you have pinpointed in your write-up.

 

[Sotherefore]

I don't see anything wrong with operating any of this one because they are all profitable but personally I would purposely decide on my own not to engage in any gambling stuff because those are the things I have purposely decided to stay away from. POS business is a reliable business but the most important thing here is to have your shop located in location that is highly populated and security now, you have to be extremely smart on this because you may likely to be scam.. all business are good when the location are good that is why the location is the most important thing you need to consider.