Meet CEOs/MDs of business behind Nigeria's $2 billion Sports wagering market.

Gaming has evolved significantly in Nigeria from traditional forms like and Baba Ijebu to a thriving sports betting industry. Historically connected to European football leagues, swimming pool staking was a typical sight at motor parks and sports betting kiosks, sports betting where lovers would bet as little as N50-N200 on matches.
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Slowly, with increased internet gain access to came virtual sports betting, which parallels worldwide patterns. The sports betting wagering market is valued at $89.91 billion in 2023 and is predicted to nearly double to $182.02 billion by 2030.

Despite financial difficulties such as inflation, Nigeria's sports betting wagering sector has actually flourished, drawing in millions, especially amongst the youthful demographic facing high joblessness rates.

Reports indicate that around 60 million Nigerians aged 18-40 actively engage in sports betting wagering, driving a market that produces an approximated yearly income of N730 billion. The federal government has actually not gone undetected by this development, which is considering regulative procedures like excise duties and VAT boosts to manage the sector.

The National Lottery Act of 2005 established regulatory bodies like the National Lottery Regulatory Commission to make sure reasonable operations despite obstacles in enforcement. Issues such as inadequate age confirmation and advertising guideline breaches show market regulatory spaces.

Despite these difficulties, sports betting wagering business continue to thrive through efficient service designs and aggressive marketing methods, leveraging the creator influencer market.

These efforts have contributed to Nigeria's robust $2 billion gaming sector, with CEOs playing important roles in expanding audience reach and driving market development. Here are the CEOs of leading sports betting wagering companies who have significantly added to Nigeria's $2 billion gaming empire through their comprehensive audience reach.

Sheriff Olaniyan - CEO Surebet247
Constable Olaniyan is the CEO of Surebet247, a sports betting book business he co-founded with Badmos Olasupo in 2011. His diverse profession covers different roles in the gaming and entertainment industry, including working at among the United Kingdom's biggest video gaming centres, The Palace Bingo Club, where he served 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 grown into a leading e-commerce company in the wagering and gaming sector, operating through online, mobile, and retail channels. The business was incorporated in Nigeria on November 7, 2006, sports betting and sports betting has actually considering that expanded its existence, accomplishing over 5,000 downloads on the Google Play Store.
Sam Sadi - CEO Livescorebet
Sam Sadi has over 25 years of experience in sports betting brand names and sports betting media. In 2019, he became the CEO of LiveScore Group, a completely incorporated community that integrates pertinent sports betting content, engaging functions, sports betting and a world-class sportsbook.

Given that taking the helm right before the pandemic, Sam has driven substantial development for LiveScore Group. The business's employee headcount has actually increased by 29%, and yearly profits has actually risen from around ₤ 10 million to over ₤ 80 million.

Sam's leadership and tactical vision have moved LiveScore Group's success and helped shape the industry's instructions. LiveScoreBet has accomplished major user engagement, with over 100,000 downloads on the Google Play Store.
Anthony Werkman - CEO of Betway Group
Anthony Werkman was selected CEO of Betway in November 2017, having previously acted as the company's Marketing and Operations Director sports betting considering that 2015. He joined Betway in 2013 and has actually remained in the online video gaming market given that 2000, sports betting holding different successful roles, consisting of General Manager of a data analytics team and Director of a digital marketing firm.

Under Werkman's management, Betway has continued to grow its market presence and enhance its offerings. The company's app has garnered substantial user engagement, with over 100,000 downloads on the Google Play Store.
Damilare Alabi, Co-Founder, Managing Director NairaBET
Damilare Alabi has actually identified herself as a senior executive with a track record of changing start-ups into institutionalized companies. Her proficiency covers the video gaming, property, and credit loaning industries, where he has established himself as a strategic and operational leader.

Damilare has actually contributed in NairaBET's success for over 14 years. Because June 2019, she has served as Managing Director and has overseen the business's development and operations in Lagos, Nigeria.

Before this, sports betting she was the Chief Operating Officer from 2010 to June 2019, pivotal in the company's functional strategies and market growth.

She established DearDammy Women's Initiative (DDWIN), a non-profit company empowering women-owned companies. DDWIN supplies frHer instructional background includes a Bachelor's degree in Geology/Earth Science from the University of Ibadan, completed in 2005.

Akin Alabi, the creator of NairaBET.com, Nigeria's pioneering sports betting bookmaking company, developed the business in 2009. While NairaBET was not the first sports betting platform in Nigeria, it was the first to introduce a totally practical website, setting a standard 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 global sports betting company based in Cyprus. 1XBET, founded in 2007 by the late Sergey Karshkov, sports betting has developed itself as one of the biggest bookies in Europe and the world. The company operates in more than 50 countries, consisting of Nigeria, where it is fully licensed.

Under Babalola's management, 1XBET Nigeria has actually broadened its footprint in the competitive Nigerian sports betting wagering market, providing a vast array of wagering alternatives 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 teamed up with African socio-economic institutions and federal governments to design developmental policies focused on empowering youths. In 2015, Ernst & & Young honoured him as the Winner of the Accelerating Category-- World Entrepreneur of the Year.

BetKing, founded and sports betting launched in Nigeria on February 22, 2018, by Byron Petzer and Adekunle Adeniji, runs under the trademark name of Lake Ventures Ltd. This pan-African sports betting and home entertainment company has actually rapidly grown its existence in Nigeria, with outlets in significant cities and over 500,000 downloads on the Google Play Store.

In 2020, BetKing participated in a partnership with the Lagos Employment Trust Fund, developing over 100,000 jobs, the number of which is increasing annually. In the very same year, sports betting MultiChoice broadcaster purchased 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, sports betting majority investor, and joint Chief Executive of Bet365, an online gambling business she established in 2000. Bet365.com was launched in 2001 as an online wagering site and has given that turned into one of the world's largest online gambling companies.

By 2016, Bet365 produced $2 billion in earnings and facilitated $45 billion in annual bets. The business also holds a bulk stake in Stoke City Football Club. Bet365 has actually garnered 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 business in Nigeria, established along with business person Kunle Soname, who likewise owns Portuguese club CD Feirense and Nigerian club Remo Stars.

Ojuroye is also the Chairman of Mango Asset Management, an independent Nigerian possession management company that creates financial investment returns and uses distinct financial investment insights and services to both specific and institutional customers.

Founded in 2012 under KC Gaming Networks, sports betting Bet9ja has rapidly grown in popularity, with over 1 million downloads on the Google Play Store. Under Ojuroye's leadership, Bet9ja has become a significant player in the Nigerian sports betting wagering industry.
Fikayo Ogunfuye - Country Director 22bet
Fikayo Ogunfuye is a seasoned expert in the sports betting wagering market. He has been serving as the Country Director for 22BET in Nigeria given that June 2021. In this role, he has contributed to the business's development through collaborations, company strategy, and brand-new company development.

Fikayo's experience consists of functions such as Chief Operations Officer (West Africa) at 22BET, where he managed item advancement and consumer experience, and Country Manager at 22BET, focusing on marketing strategy 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 began at Jumia Group, where he worked in SEO, sports betting CRM, and sports betting 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, sports betting Management, and Operations from ESTG University in Cotonou, sports betting Benin Republic.

22Bet is an online gaming platform that offers sports betting wagering, gambling establishment video games, and live dealer video games. It was released in 2017 and sports betting is owned and operated by Marikit Holdings Ltd, a company signed up in Cyprus and a subsidiary of Orakum N.V.. They are also the owners of Betwinner and a chain of gambling establishments worldwide.
Sudeep Ramnani-- CEO Sportybet Group
Sudeep Ramnani is the Founder and sports betting CEO of SportyBet, a company he established in 2013.

SportyBet is a global sports betting and real-money gaming operator understood for delivering an omni-channel home entertainment experience in controlled emerging markets. Under Ramnani's management, SportyBet has become a substantial player in the market, with over 1 million downloads on the Google Play Store.

In addition to his function at SportyBet, Sudeep is an active investor in fintech and mobile payments and sports betting a strong supporter for the growing African web ecosystem. His financial investments reflect his commitment to promoting innovation and advancement within the area.

On April 30, 2024, Sudeep Ramnani purchased Chowdeck, participating in a seed round valued at $2.5 million.
The firm is set to disrupt the sports betting industry.

Sunbet Sporting International Limited has stated it is focused on changing how millions of Africans engage with sports betting. In a market worth over $1.5 billion annual, sports betting with double-digit growth projection in the coming years, according to reports from the African Sports Betting Association and PwC, the company aims to utilize innovative innovation and a dedication to responsible sports betting to revolutionise the sector.

Backed by the financial power of 4 prominent African billionaires, Sunbet, which will release in the very first quarter of 2025, intends to be the continent's largest and most innovative sports betting wagering platform.

At a press instruction, the business's representative, Akin Babatunde, stated that the increase in Internet penetration, mobile usage, and the continent's deep passion for sports betting, particularly football, sports betting has set the stage for Sunbet's ambitious entry. He included that the firm's robust financial backing and specialist group will enable it to scale and control the marketplace quickly.


Islamic authorities raid wagering stores in northern Nigeria

Islamic authorities in Nigeria's northern city of Kano have started closing down sports betting wagering stores, which they state are running unlawfully.

"As you know, wagering is prohibited in Islam," Mujahid Aminudeen, deputy chief of the Sharia police force, known as the Hisbah, informed the BBC.

Complaints from neighborhood leaders and moms and dads prompted the crackdown, fretted about the growing variety of gambling addicts, he said.

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

But Mr Aminudeen warned that now that the public knew that the Hisbah was clamping down on sports betting, sports betting those flouting the guidelines would be jailed.

Kano city is the capital of Kano state, which has a majority Muslim population and operates the Islamic legal system - Sharia - alongside secular law.

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

Nevertheless, the present crackdown is focused on Muslim locations of Kano, a vast city and the economic center of northern Nigeria.

sports betting wagering stores can be discovered all over the city. Many have tv screens, and clients view the result of global football matches or horse races on which they have actually staked cash.

Mr Aminudeen stated such bookmakers had actually had the ability to run under the radar as they had opened under false pretenses.

"They don't have licences to operate as they were permitted to run video games centres, which they later transformed to sports betting stores," he stated.

The sports betting market has expanded significantly throughout West Africa over the last few years. The area is roughly divided in between a primarily Muslim north and a mainly Christian south.

Lots of people go to bookies to enjoy the sociability of other bettors, sports betting though mobile apps are also popular for wagering on the result of events and groups.

Nigeria's debilitating economic crisis has likewise indicated individuals want to risk a small amount in the hope of winning huge.

But this had led to extensive dependency, and parents were even complaining that kids were leaving of school to bet, Mr Aminudeen stated.

"These economic problems we are facing in Nigeria is God informing us to alter 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 encouraging those running those sports betting stores to either shut down or we'll apprehend them and take them to [a Sharia] court," Mr Aminudeen said.

It is uncertain what punishment they would face - often, such violations carry a fine.

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