Meet CEOs/MDs of business behind Nigeria's $2 billion Sports betting industry.

Gaming has actually progressed substantially in Nigeria from traditional kinds like pool staking and Baba Ijebu to a flourishing sports betting market. Historically connected to European football leagues, swimming pool staking was a common sight at motor parks and sports betting kiosks, where enthusiasts would bet as low as N50-N200 on matches.

Slowly, with increased web gain access to came virtual wagering, which parallels international trends. The sports betting wagering market is valued at $89.91 billion in 2023 and is forecasted to nearly double to $182.02 billion by 2030.

Regardless of financial obstacles such as inflation, Nigeria's sports betting wagering sector has prospered, bring in millions, specifically amongst the vibrant demographic facing high joblessness rates.

Reports show that around 60 million Nigerians aged 18-40 actively engage in sports betting wagering, driving an industry that generates an estimated yearly income of N730 billion. The federal government has not gone unnoticed by this development, which is considering regulatory procedures like import tax responsibilities and VAT increases to manage the sector.

The National Lottery Act of 2005 recognized regulative bodies like the National Lottery Regulatory Commission to make sure reasonable operations in spite of obstacles in enforcement. Problems such as insufficient age verification and sports betting marketing rule breaches reveal market regulative gaps.

Regardless of these challenges, sports betting wagering companies continue to grow through reliable business models and aggressive marketing strategies, leveraging the developer influencer industry.

These efforts have contributed to Nigeria's robust $2 billion sports betting sector, with CEOs playing essential roles in broadening audience reach and driving market growth. Here are the CEOs of leading sports betting wagering business who have actually considerably added to Nigeria's $2 billion gaming empire through their comprehensive audience reach.

Sheriff Olaniyan - CEO Surebet247
Constable Olaniyan is the CEO of Surebet247, sports betting a sports betting book business he co-founded with Badmos Olasupo in 2011. His diverse career spans different roles in the video gaming and show business, including operating at one of the United Kingdom's biggest gaming centres, The Palace Bingo Club, where he functioned as the Lead Engineer in a Bingo and Bowling Club.

Olaniyan holds a BSc in Geography from the University of Ilorin and a Master's in Geographical Information Systems from the University of Glamorgan, Wales. Surebet247, founded in August 2011, has become a leading e-commerce company in the wagering and video gaming sector, operating through online, mobile, and retail channels. The business was included in Nigeria on November 7, 2006, and has considering that broadened its presence, sports betting accomplishing over 5,000 downloads on the Google Play Store.
Sam Sadi - CEO Livescorebet
Sam Sadi has over 25 years of experience in wagering brands and sports betting media. In 2019, sports betting he ended up being the CEO of LiveScore Group, a completely integrated environment that integrates pertinent sports betting material, sports betting engaging features, and sports betting a world-class sportsbook.

Since taking the helm right before the pandemic, Sam has driven substantial growth for LiveScore Group. The business's staff member headcount has actually increased by 29%, and yearly earnings has actually surged from roughly ₤ 10 million to over ₤ 80 million.

Sam's management and tactical vision have moved LiveScore Group's success and helped shape the market's instructions. LiveScoreBet has actually attained major user engagement, with over 100,000 downloads on the Google Play Store.
Anthony Werkman - CEO of Betway Group
Anthony Werkman was designated CEO of Betway in November 2017, having previously worked as the company's Marketing and sports betting Operations Director because 2015. He joined Betway in 2013 and has actually been in the online gaming industry because 2000, holding numerous successful functions, including General Manager of a data analytics team and Director sports betting of a digital marketing company.

Under Werkman's leadership, Betway has actually continued to grow its market existence and enhance its offerings. The company's app has actually gathered significant user engagement, with over 100,000 downloads on the Google Play Store.
Damilare Alabi, Co-Founder, Managing Director NairaBET
Damilare Alabi has actually differentiated herself as a senior executive with a track record of transforming into institutionalized services. Her know-how spans the video gaming, property, and credit financing industries, where he has developed himself as a strategic and functional leader.

Damilare has actually been instrumental in NairaBET's success for over 14 years. Given that June 2019, she has functioned as Managing Director and has managed the business's development and operations in Lagos, Nigeria.

Before this, she was the Chief Operating Officer from 2010 to June 2019, pivotal in the business's functional methods and market expansion.

She established DearDammy Women's Initiative (DDWIN), a non-profit organization empowering women-owned services. DDWIN supplies frHer instructional background consists of a Bachelor's degree in Geology/Earth Science from the University of Ibadan, sports betting finished in 2005.

Akin Alabi, the founder of NairaBET.com, Nigeria's pioneering sports betting bookmaking business, developed the business in 2009. While NairaBET was not the very first sports betting platform in Nigeria, it was the first to release a completely practical site, setting a benchmark in the market.
Femi Babalola- General Manager of 1Xbet Nigeria Limited
Femi Babalola is the Managing Director of 1XBET Nigeria Limited, a franchise of the worldwide sports betting wagering company based in Cyprus. 1XBET, sports betting founded in 2007 by the late Sergey Karshkov, has developed itself as one of the biggest bookies in Europe and the world. The company operates in more than 50 nations, including Nigeria, where it is completely accredited.

Under Babalola's leadership, 1XBET Nigeria has broadened its footprint in the competitive Nigerian sports betting wagering market, using a wide range of wagering choices and an easy to use platform. The 1XBET app has more than 500,000 downloads on the Play Store.
Gossy Ukanwoke - CEO of Betking Nigeria
Gossy Ukanwoke is the CEO of BetKing, Managing Director of KingMakers, and Chairman of Vend Capital. In addition to leading these endeavors, Ukanwoke has actually collaborated with African socio-economic organizations and federal governments to design developmental policies targeted at empowering youths. In 2015, Ernst & & Young honoured him as the Winner of the Accelerating Category-- World Entrepreneur of the Year.

BetKing, sports betting established and released in Nigeria on February 22, 2018, sports betting by Byron Petzer and Adekunle Adeniji, runs under the brand name of Lake Ventures Ltd. This pan-African sports betting wagering and entertainment company has actually quickly grown its presence in Nigeria, with outlets in significant cities and over 500,000 downloads on the Google Play Store.

In 2020, BetKing entered into a partnership with the Lagos Employment Trust Fund, producing over 100,000 tasks, the variety of which is increasing annually. In the exact same year, MultiChoice broadcaster bought a 20% stake in BetKing, which was increased to 49% in 2021.
Denise Coates - CEO Bet 365
Denise Coates is a British billionaire businesswoman, the creator, majority investor, and joint Chief Executive of Bet365, an online gambling business she developed in 2000. Bet365.com was released in 2001 as an online wagering site and has actually given that grown into one of the world's largest online gambling business.

By 2016, Bet365 created $2 billion in incomes and facilitated $45 billion in yearly bets. The business likewise holds a bulk stake in Stoke City Football Club. Bet365 has actually gathered significant user engagement, with over 1 million downloads on the Google Play Store.
Ayo Ojuroye - CEO/Cofounder Bet9ja
Ayo Ojuroye is the CEO and co-founder of Bet9ja, a leading sports betting wagering company in Nigeria, developed along with business owner Kunle Soname, who also owns Portuguese club CD Feirense and Nigerian club Remo Stars.

Ojuroye is also the Chairman of Mango Asset Management, an independent Nigerian asset management company that creates investment returns and offers special financial investment insights and solutions to both private and institutional customers.

Founded in 2012 under KC Gaming Networks, Bet9ja has actually quickly grown in appeal, with over 1 million downloads on the Google Play Store. Under Ojuroye's leadership, Bet9ja has actually become a considerable player in the Nigerian sports betting market.
Fikayo Ogunfuye - Country Director 22bet
Fikayo Ogunfuye is a skilled specialist in the sports betting wagering industry. He has actually been functioning as the Country Director for sports betting 22BET in Nigeria considering that June 2021. In this role, he has contributed to the company's growth through partnerships, organization method, and brand-new business advancement.

Fikayo's experience includes roles such as Chief Operations Officer (West Africa) at 22BET, where he handled product development and consumer experience, and Country Manager at 22BET, focusing on marketing method and spending plan management. Before 22BET, he led marketing efforts at LuckyBet.NG and held various digital marketing functions at Laclic Services and Betty Bingo.

His profession started at Jumia Group, where he worked in SEO, CRM, sports betting and content management. Fikayo also acted as a Human Resource Officer at SIFAX Group.

He holds a Bachelor of Technology (B.Tech.) in Management and Accounting from Ladoke Akintola University of Technology and sports betting a Master of Science (MS) in Business Administration, Management, and Operations from ESTG University in Cotonou, Benin Republic.

22Bet is an online sports betting platform that offers sports betting, casino games, sports betting and live dealership video games. It was introduced in 2017 and is owned and operated by Marikit Holdings Ltd, a company registered in Cyprus and a subsidiary of Orakum N.V.. They are also the owners of Betwinner and a chain of casinos worldwide.
Sudeep Ramnani-- CEO Sportybet Group
Sudeep Ramnani is the Founder and CEO of SportyBet, a company he developed in 2013.

SportyBet is a worldwide sports betting and real-money video gaming operator understood for delivering an omni-channel entertainment experience in managed emerging markets. Under Ramnani's leadership, SportyBet has ended up being a substantial gamer in the market, with over 1 million downloads on the Google Play Store.

In addition to his role at SportyBet, Sudeep is an active financier in fintech and mobile payments and sports betting a strong advocate for sports betting the growing African web community. His financial investments reflect his commitment to fostering development and advancement within the region.

On April 30, 2024, Sudeep Ramnani invested in Chowdeck, taking part in a seed round valued at $2.5 million.
The company is set to interfere with the sports wagering market.

Sunbet Sporting International Limited has stated it is focused on changing how countless Africans engage with sports betting. In an industry worth over $1.5 billion annual, with double-digit growth forecast in the coming years, according to reports from the African Sports Betting Association and PwC, the company aims to take advantage of cutting-edge technology and a dedication to responsible gambling to revolutionise the sector.

Backed by the financial power of four prominent African billionaires, Sunbet, which will introduce in the very first quarter of 2025, aims to be the continent's largest and sports betting most ingenious sports betting wagering platform.

At a press briefing, the business's spokesperson, Akin Babatunde, stated that the increase in Internet penetration, mobile usage, and sports betting the continent's deep enthusiasm for sports betting, sports betting specifically football, has actually set the stage for Sunbet's enthusiastic entry. He added that the company's robust sponsorship and expert team will enable it to scale and control the marketplace rapidly.


Islamic authorities raid betting shops in northern Nigeria

Islamic authorities in Nigeria's northern city of Kano have actually started shutting down sports betting shops, which they state are operating illegally.
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"As you know, sports betting is forbidden in Islam," Mujahid Aminudeen, deputy chief of the Sharia police, sports betting known as the Hisbah, told the BBC.

Grievances from community leaders and parents triggered the crackdown, fretted about the growing number of gambling addicts, he stated.

On the first day of raids, 30 shops were closed in one suburb alone, sports betting and their owners were sent home with a caution, the Sharia officer said.

However Mr Aminudeen warned that now that the general public understood that the Hisbah was clamping down on sports betting, those flouting the guidelines would be arrested.

Kano city is the capital of Kano state, which has a bulk Muslim population and runs the Islamic legal system - Sharia - along with nonreligious law.

Bookmakers and bars tend to be allowed to operate in Kano's Christian areas, though they too can deal with action if the Hisbah believes Muslims are frequenting them.

However, the current crackdown is focused on Muslim areas of Kano, a vast city and the financial hub of northern Nigeria.
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Sports betting stores can be discovered all over the city. Most have tv screens, and customers see the outcome of international football matches or horse races on which they have staked money.

Mr Aminudeen said such bookies had had the ability to operate under the radar as they had opened under false pretenses.

"They don't have licences to run as they were permitted to run video games centres, which they later transformed to wagering shops," he said.

The sports betting industry has actually broadened drastically throughout West Africa in the last few years. The region is roughly divided in between a mainly Muslim north and a primarily Christian south.

Lots of people go to bookmakers to delight in the sociability of other gamblers, though mobile apps are likewise popular for sports betting on the result of events and teams.

Nigeria's debilitating economic crisis has actually also implied individuals are willing to run the risk of a percentage in the hope of winning big.

But this had actually resulted in prevalent dependency, sports betting and moms and dads were even grumbling that kids were dropping out of school to bet, Mr Aminudeen said.

"These economic problems we are dealing with in Nigeria is God informing us to change our ways by stopping sins," he said.

The raids on Tuesday concentrated on Munjibir, considered a resort area in the northeast of the city-- visitors flock there at weekends.

"I am recommending those running those wagering stores to either closed down or we'll jail them and take them to [a Sharia] court," Mr Aminudeen stated.

It is uncertain what penalty they would deal with - typically, such infringements carry a fine.

Sharia was introduced in Kano in 2000 - as it remained in 11 other Muslim-majority northern states - and prostitution, sports betting gambling and the consumption of alcohol were prohibited.