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

Gaming has progressed significantly in Nigeria from standard forms like pool staking and Baba Ijebu to a flourishing sports betting market. Historically tied to European football leagues, swimming pool staking was a common sight at motor sports betting parks and kiosks, where enthusiasts would bet just N50-N200 on matches.

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

Despite economic obstacles such as inflation, Nigeria's sports betting wagering sector has actually thrived, bring in millions, specifically among the youthful group dealing with high unemployment rates.

Reports indicate that around 60 million Nigerians aged 18-40 actively engage in sports betting wagering, driving an industry that generates an estimated yearly revenue of N730 billion. The federal government has actually not gone unnoticed by this growth, sports betting which is considering regulatory measures like excise responsibilities and VAT increases to handle the sector.

The National Lottery Act of 2005 established regulatory bodies like the National Lottery Regulatory Commission to make sure reasonable operations in spite of difficulties in enforcement. Problems such as inadequate age confirmation and marketing guideline breaches reveal market regulative spaces.

In spite of these difficulties, sports betting wagering companies continue to flourish through efficient service models and aggressive marketing methods, leveraging the developer influencer market.

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

Constable 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 spans different roles in the gaming and entertainment industry, including operating at one of the United Kingdom's largest video gaming centres, The Palace Bingo Club, sports betting 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 actually grown into a leading e-commerce service in the sports betting and gaming sector, operating through online, mobile, and retail channels. The company was integrated in Nigeria on November 7, 2006, and sports betting has because broadened its presence, attaining 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 became the CEO of LiveScore Group, a totally incorporated community that combines pertinent sports betting material, engaging features, and a world-class sportsbook.

Since taking the helm right before the pandemic, Sam has driven significant development for LiveScore Group. The company's worker headcount has actually increased by 29%, and sports betting annual profits has actually surged from roughly ₤ 10 million to over ₤ 80 million.

Sam's leadership and tactical vision have actually moved LiveScore Group's success and assisted form the industry's direction. LiveScoreBet has actually achieved 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 served as the company's Marketing and Operations Director considering that 2015. He joined Betway in 2013 and has actually been in the online gaming industry considering that 2000, holding different successful functions, including General Manager of a data analytics team and sports betting Director of a digital marketing firm.

Under Werkman's management, Betway has continued to grow its market presence and boost its offerings. The company's app has actually gathered substantial user engagement, with over 100,000 downloads on the Google Play Store.

Damilare Alabi, Co-Founder, Managing Director NairaBET

Damilare Alabi has differentiated herself as a senior executive with a performance history of transforming start-ups into institutionalized companies. Her expertise spans the video gaming, realty, and credit financing markets, where he has actually established himself as a tactical and operational leader.

Damilare has actually contributed in NairaBET's success for over 14 years. Because June 2019, she has actually acted as Managing Director and sports betting has overseen the company's growth and operations in Lagos, Nigeria.

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

She established DearDammy Women's Initiative (DDWIN), a non-profit organization empowering women-owned organizations. DDWIN supplies frHer instructional background consists of 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 business, developed the business in 2009. While NairaBET was not the very first sports betting wagering platform in Nigeria, it was the very first to launch a totally practical website, setting a criteria in the industry.

Femi Babalola- General Manager of 1Xbet Nigeria Limited

Femi Babalola is the Managing Director of 1XBET Nigeria Limited, a franchise of the international sports betting wagering business based in Cyprus. 1XBET, founded in 2007 by the late Sergey Karshkov, sports betting has actually established itself as one of the biggest bookies in Europe and the world. The business runs in more than 50 nations, including Nigeria, where it is totally licensed.

Under Babalola's management, 1XBET Nigeria has actually expanded its footprint in the competitive Nigerian sports betting wagering market, offering a vast array of sports betting 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 ventures, Ukanwoke has actually collaborated with African socio-economic organizations and governments to develop 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 launched in Nigeria on February 22, 2018, 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 major cities and over 500,000 downloads on the Google Play Store.

In 2020, BetKing participated in a collaboration with the Lagos Employment Trust Fund, creating over 100,000 tasks, the number of which is increasing annually. In the very 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, sports betting an online gaming company she developed in 2000. Bet365.com was introduced in 2001 as an online wagering site and sports betting has actually considering that grown into among the world's biggest online gambling business.

By 2016, Bet365 produced $2 billion in earnings and facilitated $45 billion in yearly bets. The business also holds a bulk stake in Stoke City Football Club. Bet365 has gathered substantial 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, sports betting developed along with entrepreneur Kunle Soname, sports betting who likewise owns Portuguese club CD Feirense and Nigerian club Remo Stars.

Ojuroye is likewise the Chairman of Mango Asset Management, an independent Nigerian asset management company that creates investment returns and uses distinct financial investment insights and options to both specific and sports betting institutional clients.

Founded in 2012 under KC Gaming Networks, Bet9ja has rapidly grown in popularity, sports betting with over 1 million downloads on the Google Play Store. Under Ojuroye's management, Bet9ja has actually become a significant gamer in the Nigerian sports betting market.

Fikayo Ogunfuye - Country Director 22bet

Fikayo Ogunfuye is a skilled specialist in the sports betting wagering market. He has actually been functioning as the Country Director for 22BET in Nigeria given that June 2021. In this function, he has actually added to the business's growth through collaborations, sports betting service strategy, sports betting and new company advancement.

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

His career began at Jumia Group, where he worked in SEO, CRM, and content management. Fikayo also served 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 wagering, casino games, and live dealer games. It was introduced in 2017 and is owned and operated by Marikit Holdings Ltd, a business 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 established in 2013.

SportyBet is a worldwide sports betting and real-money video gaming operator understood for providing an omni-channel home entertainment experience in managed emerging markets. Under Ramnani's management, SportyBet has become a considerable gamer in the industry, with over 1 million downloads on the Google Play Store.

In addition to his role at SportyBet, Sudeep is an active investor sports betting in fintech and mobile payments and a strong advocate for sports betting the growing African web community. His financial investments reflect his dedication to cultivating innovation and advancement within the area.

On April 30, 2024, Sudeep Ramnani bought Chowdeck, taking part in a seed round valued at $2.5 million.

The company is set to interrupt the sports wagering market.

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

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

At a press instruction, the company's representative, Akin Babatunde, stated that the rise in Internet penetration, sports betting mobile use, and the continent's deep passion for sports betting, specifically football, sports betting has actually set the stage for Sunbet's enthusiastic entry. He added that the company's robust sponsorship and specialist group will allow it to scale and control the market quickly.

Islamic cops raid wagering shops in northern Nigeria

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

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

Problems from community leaders and parents prompted the crackdown, worried about the growing number of gambling addicts, he said.

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

However Mr Aminudeen alerted that now that the public knew that the Hisbah was clamping down on gambling, those flouting the guidelines would be arrested.

Kano city is the capital of Kano state, sports betting which has a majority Muslim population and runs the Islamic legal system - Sharia - alongside nonreligious law.

Bookies and bars tend to be permitted to operate in Kano's Christian areas, though they too can face action if the Hisbah believes Muslims are frequenting them.

However, the existing crackdown is concentrated on Muslim areas of Kano, sports betting a sprawling city and the financial hub of northern Nigeria.

sports betting wagering stores can be found all over the city. The majority of have television screens, sports betting and customers see the result of international football matches or horse races on which they have actually staked money.

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

"They don't have licences to run as they were permitted to run computer game centres, which they later on converted to wagering stores," he stated.

The sports betting industry has expanded considerably across West Africa over the last few years. The region is roughly divided between a generally Muslim north and a mainly Christian south.

Lots of people go to bookies to take pleasure in the camaraderie of other bettors, though mobile apps are likewise popular for sports betting on the result of events and teams.

Nigeria's debilitating economic crisis has actually likewise suggested people want to risk a percentage in the hope of winning big.

But this had actually caused widespread dependency, and parents were even complaining that kids were leaving of school to bet, sports betting Mr Aminudeen stated.

"These financial concerns we are facing in Nigeria is God informing us to alter our ways by stopping sins," he stated.

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

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

It is uncertain what penalty they would face - frequently, such infringements bring a fine.

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