Promotion of betting, binary options and cryptocurrencies banned
When we first started accepting ads directly on Nairaland, we noticed that sports betting and forex trading platforms were our best advertisers. At a point, they bought more than 50% of our ad slots. But when we realised that the money for those ads ultimately came from the pockets of Nairalanders who lost their money while trying to make easy money on these platforms, we had to stop accepting them.
Unfortunately, the promotion of these gambling schemes on Nairaland didn't stop just because we stopped accepting their ads. There are literally thousands of threads in the business, investment, and sports sections that promote these gambling schemes. Lots of people who would otherwise not have gambled have stumbled upon these threads and have been lured into parting with their hard-earned money.
We have extended rule 16 which previously banned only the promotion of MLM and HYIP schemes so that it now reads:
Rule 16. Don't promote shady investments like betting, HYIP, MLM, FOREX, binary options, and cryptocurrencies on Nairaland..
We apologize for any inconveniences this might cause and urge all Nairaland members to focus on real businesses that solve real problems.