Due to its location on the shores of Lough Neagh, this was once the primary source of income for many families in Ballymaguigan.

Gaelic games are the most popular sports in the area, with St. Trea's G.F.C being the local club.

Ballymaguigan fields Gaelic football teams at U12, U14, U16, Minor, Reserve, Thirds and Senior levels.

When World War II came, Toome Airfield was built, practically dividing the parish in two, thus making it very difficult for the Ballymaguigan players to travel to the pitch in Newbridge for training.

Paddy Bateson suggested that a ball be purchased so that the local players could train in Ballymaguigan.

Students from Ballymaguigan often attend secondary schools in the neighbouring town of Magherafelt.

On 18 December 1971 – James Sheridan (20), John Bateson (19) and Martin Lee (18), all from Ballymaguigan died in a premature bomb explosion while traveling in a car at King Street, Magherafelt.

The three men all were Catholics and members of the South Derry Brigade of the Provisional Irish Republican Army.