Lasting wealth is through hard work not placing bets

OutToLunch: Lasting wealth is through hard work not placing bets

By Denis Jjuuko

There is a young man who told me that he had come up with an innovative idea that may change the world but lacked funding to realize it. I told him that I didn’t work in the angel investment space but he was incessant that I listen to him. All that he needed, he argued, was about 30 minutes of my time. If I listen to him, maybe I could talk to some of my “rich” friends and they invest. I was reluctant but I could easily find the 30 minutes.

Over time and perhaps through personal experiences, I have increasingly become skeptical of “innovations” and great “ideas.” Many such ideas are hard to pull off in a country like Uganda. Also, in the developed world, very few people come up with great ideas. Most entrepreneurs that succeed do what everyone is doing but a little bit better. However, I also didn’t want to spend the rest of my life regretting.

He kept time. Since we are Africans, we asked each other about our respective families, the weather and what is actually “new that side.” The “new” thing on his side was the innovative idea that he had come up with. He said for some time, he has been studying sports betting.

Almost every other English premier league football club is sponsored by a betting company. Every other advert on pay TV platforms is of sports betting or some form of betting. Every little nook around Kampala has some form of sports betting shop or another. Somebody told me that many young people have a betting app on their smartphones.

Indeed, one day, I was walking behind some guards returning from their night duty. I eavesdropped on their conversation. They were talking about a football match that had taken place in Kazakhstan. Of all places. They had placed some bets on the outcome of match in a league in Kazakhstan!

I understood why the young man wanted to pitch his ideas even to people who may not have any capacity to raise any money. Anyway, the young man said that he had spent the last few years involved in sports betting and he thinks he can generate a lot of money. I became attentive, writing down questions at the back of my mind to ask him once he finished his presentation.

Eventually, it became clear that he wasn’t looking for money to invest in a sports betting company. His innovative idea was that he had studied the formula of beating the sports betting companies! Wow! He said if he got money and placed his bets strategically, he would be able to beat them and win.

He explained how he thought the betting companies work and what one needs to do to beat them. I don’t remember the exact formula he explained but I doubted whether one could beat these companies.

I told him that he stood a better chance if he started a betting company instead but he said that is not the best way to make money. Why invest in that when you have realized the formula to beat the “muyindi”? Muyindi in betting language refers to the sports betting companies.

I could tell that he was very disappointed that I couldn’t invest or refer him to my so-called “rich” friends and that I didn’t see how his idea would make “us” extremely wealthy. The last time I heard about him, the stories involved police, court and Luzira Prison.

Anyway, somebody recently claimed that there are some young people whose job is sports betting. Apparently, one is more likely to become wealthy through it than a regular normal job. My argument was that unless you own the sports betting platform, you can’t be placing bets and expecting to become wealthy.

Wealth is through selling goods or services. Gambling has never been known to create lasting wealth for a gambler. How do we stop young people from spending all their time placing bets? We must create sustainable jobs for them while informing them that overnight success only happens in movies. In real life, people sell something in exchange for money. They don’t just place bets on who will score in which minute of a soccer match.

The writer is a communication and visibility consultant. djjuuko@gmail.com

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OutToLunch: African Union could help national airlines struggling to fly

OutToLunch: African Union could help national airlines struggling to fly By Denis Jjuuko Sometime back, the Uganda Civil Aviation Authority decided to mark an anniversary by organizing a flying activity. What one needed to do was to arrive at Entebbe airport with Shs50,000. They would then put them on a flight and fly them around Uganda. The queue stretched many miles. The guys at CBS FM also did something similar during one of their Nkuuka y’Omwaka (end of year) events. Pay some little money and they fly you around Kampala. Thousands of people lined up for this once in a lifetime opportunity. If you watch TikTok regularly, you will see many people posting their trips claiming that they “catch flights, not feelings” and all sorts of things. If there is anything many people in Africa love, it is flying even if it is flying to nowhere. Many people on the continent consider flying an element of success. I think it is linked to widespread poverty. In many countries, domestic flights are rare as there is hardly any infrastructure. Where it exists, air tickets are expensive, thereby eliminating many people from boarding flights from one town to another. Those who manage to fly are considered the lucky ones. That probably explains why many family members escort their relatives to the airport in droves. Minibuses full of people descend at airports, drumming and dancing as the traveler busks in glory. They have finally made it. Upon return, some even hold parties. Parents pray for their children to also get an opportunity to fly. If you eavesdrop at Entebbe before departure, you may hear of somebody calling a relative or friend to engage them in prayer so that they also find some luck one day to fly and I am not making this up. It is that serious. Flying to many isn’t just a means of travel. It is status. It is arrival on the big stage. It is success. That same mindset many times explains the desire by countries to set up airlines. Every country on the continent wants to set up a flag carrier. The reasons given are many. National pride is usually among the top five. Airport or aviation authorities also with the same mindset slap huge taxes on each ticket. Airport ground handling is one of the most lucrative businesses in Africa even when the number of passengers going through these airports is minimal. Passengers who have longed to fly expect five-star experiences even when they don’t want to pay for them — champagne to flow endlessly, great food, free internet, movies and the like. To keep these few passengers happy, airlines end up charging a premium, thereby eliminating many people who would have been able to fly. It then becomes difficult to make money from a very small base of regular passengers. Yet, we many times complain about the exorbitant air ticket rates forgetting that everything we consume on board comes at a price. The equipment is expensive to buy, operate and maintain. Also, the majority of Africans have no reason to travel much. Their incomes are meagre and majority are subsistence farmers without any real need to fly anywhere. Without improved incomes, African airlines will continue to struggle. Also, because poor countries love owning national flag carriers without putting in enough resources, the airlines will continue to struggle to compete with middle eastern carriers. How on earth is a national airline with global or even continental ambitions but operating just 4-6 planes going to compete with Emirates, Qatar or even Air Arabia? It is always going to be frustrations for passengers who in the era of social media who are going to create one communication crisis after another. Brand reputation tanks. The few passengers end up preferring to pay a premium to fly the reliable carriers from Middle East, Europe or even Ethiopia. The national airline ends up in the cemetery. Flying within Africa could provide a lifeline for African national carriers but many countries demand visas from each African while allowing Europeans and North Americans to fly in without them. If people need expensive visas that are also difficult to access, it then becomes very difficult to create a critical mass of travelers within the continent. Look at Europe for example, it is almost borderless. People just wake up and travel without worrying about access. Although it is a very rich continent, being borderless is one of the reasons many people fly in Europe and air tickets are very cheap. The African Union need not be an organization that issues communiques only rather one that facilitates movement and trade across the continent by removing barriers that keep us under developed. The writer is a communication and visibility consultant. djjuuko@gmail.com

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#OutToLunch: Some of the big bets for 2026

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#OutToLunch: How Uganda’s next president could easily reduce the housing deficit

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