A social phenomenon is strongly crystallising in Nigeria. Football is a strong socio-economicsport in the country. This is particularly so in comparison with European footballclubs. The number of fans of these clubs is enormous, as a result of which the economy isstrongly evolving and due for scientific investigations. Every time a match of major footballleagues across the world takes place, fans – apart from watching the football batches– make bets on the results, hoping to get economic rewards, as well as the psycho-socialexperiences. Football betting is today a major form of business in Nigeria. It is a growingindustry, as betting shops are opening, thus becoming an important part of socialphenomena, regardless of the national underdevelopment. This article therefore attemptsto understand how football betting phenomenally shapes social relations in Nigeria. Theresearch questions are: what is the origin of football betting in the context of study? Whydo people engage in football betting? And how is football betting organized, processed,and structured? The study that this article was based on was empirical within the theoreticalorientation of social exchange and Marxism. The study utilized purposive and accidentalsampling techniques. Three hundred copies of a questionnaire were administered.Qualitative approach was also adopted through eight in-depth interviews (IDIs) and eightkey informant interviews (KIIs). Data analysis was done through statistical software andcontent analysis. Important findings were made and presented in the article.