Betting Leaders Under Scrutiny: Fresh Player Enters as Northern Nigeria Intensifies Betting Controls

Meet CEOs/MDs of companies behind Nigeria’s $2 billion Sports betting industry.

sports betting has evolved substantially in Nigeria from standard kinds like pool staking and Baba Ijebu to a growing sports betting wagering market. Historically tied to European football leagues, pool staking was a common sight at motor parks and kiosks, where enthusiasts would wager just N50-N200 on matches.

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

Regardless of financial difficulties such as inflation, Nigeria’s sports betting sector sports betting has actually prospered, bring in millions, specifically amongst the younger group facing high joblessness rates.

Reports show that around 60 million Nigerians aged 18-40 actively take part in sports betting, driving a market that produces an approximated yearly income of N730 billion. The federal government has actually not gone undetected by this growth, sports betting which is thinking about regulatory measures like import tax tasks and VAT boosts to handle the sector.

The National Lottery Act of 2005 recognized regulatory bodies like the National Lottery Regulatory Commission to make sure reasonable operations despite challenges in enforcement. Problems such as inadequate age confirmation and sports betting marketing guideline breaches show industry regulative spaces.

Regardless of these challenges, sports betting wagering companies continue to grow through reliable business designs and aggressive marketing methods, leveraging the creator influencer industry.

These efforts have added to Nigeria’s robust $2 billion sports betting sector, with CEOs playing crucial functions in broadening audience reach and driving industry development. Here are the CEOs of leading sports betting business who have significantly added to Nigeria’s $2 billion gaming empire through their substantial 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 varied career spans various roles in the gaming and show business, sports betting including working at among 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 actually turned into a leading e-commerce organization in the sports betting and gaming sector, running through online, mobile, and retail channels. The company was incorporated in Nigeria on November 7, 2006, and sports betting has actually given that broadened its presence, sports betting accomplishing over 5,000 downloads on the Google Play Store.

Sam Sadi – CEO Livescorebet

Sam Sadi has more than 25 years of experience in sports betting brand names and sports betting media. In 2019, he ended up being the CEO of LiveScore Group, sports betting a fully integrated community that integrates pertinent sports betting material, engaging features, and a world-class sportsbook.

Because taking the helm prior to the pandemic, sports betting Sam has driven significant development for LiveScore Group. The business’s worker headcount has increased by 29%, and yearly revenue has actually risen from around ₤ 10 million to over ₤ 80 million.

Sam’s leadership and tactical vision have moved LiveScore Group’s success and assisted form the market’s direction. LiveScoreBet has 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 actually previously functioned as the and Operations Director since 2015. He signed up with Betway in 2013 and sports betting has remained in the online video gaming industry considering that 2000, holding different effective functions, including General Manager of a data analytics group and Director sports betting of a digital marketing agency.

Under Werkman’s management, Betway has continued to grow its market presence and boost 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 identified herself as a senior sports betting executive with a performance history of transforming start-ups into institutionalized organizations. Her expertise covers the video gaming, real estate, sports betting and credit financing industries, where he has actually developed himself as a tactical and operational leader.

Damilare has actually been instrumental in NairaBET’s success for over 14 years. Given that June 2019, she has actually functioned as Managing Director and has overseen 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 strategies and market expansion.

She founded DearDammy Women’s Initiative (DDWIN), a non-profit organization empowering women-owned organizations. DDWIN offers frHer instructional background includes a Bachelor’s degree in Geology/Earth Science from the University of Ibadan, finished in 2005.

Akin Alabi, the creator of NairaBET.com, Nigeria’s pioneering sports betting bookmaking business, developed business in 2009. While NairaBET was not the first sports betting platform in Nigeria, it was the first to introduce a fully functional 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 worldwide sports betting company based in Cyprus. 1XBET, founded in 2007 by the late Sergey Karshkov, has actually established itself as one of the largest bookies in Europe and the world. The business operates in more than 50 countries, sports betting including Nigeria, where it is completely licensed.

Under Babalola’s management, sports betting 1XBET Nigeria has expanded its footprint in the competitive Nigerian sports betting wagering market, using a wide range 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 ventures, Ukanwoke has worked together with African socio-economic organizations and federal governments to develop developmental policies aimed at empowering young people. In 2015, Ernst & & Young honoured him as the Winner of the Accelerating Category– World Entrepreneur of the Year.

BetKing, established and launched in Nigeria on February 22, 2018, sports betting by Byron Petzer and Adekunle Adeniji, operates under the trademark name of Lake Ventures Ltd. This pan-African sports betting wagering and home entertainment business has rapidly grown its presence in Nigeria, with outlets in significant 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 variety of which is increasing every year. In the same year, 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, bulk shareholder, sports betting and joint Chief Executive of Bet365, an online gaming business she developed in 2000. Bet365.com was introduced in 2001 as an online wagering site and has considering that grown into among the world’s biggest online gaming business.

By 2016, Bet365 produced $2 billion in profits and assisted in $45 billion in yearly bets. The company likewise holds a majority stake in Stoke City Football Club. Bet365 has amassed considerable 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 business in Nigeria, established alongside businessman 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 property management company that creates investment returns and offers distinct financial investment insights and solutions to both specific 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 ended up being a considerable gamer in the Nigerian sports betting wagering market.

Fikayo Ogunfuye – Country Director 22bet

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

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

His profession began at Jumia Group, sports betting where he operated in SEO, CRM, and content management. Fikayo also worked 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 a Master of Science (MS) in Business Administration, Management, and sports betting Operations from ESTG University in Cotonou, Benin Republic.

22Bet is an online sports betting platform that uses sports betting, gambling establishment games, and live dealership games. It was launched in 2017 and sports betting is owned and run by Marikit Holdings Ltd, sports betting a business registered in Cyprus and a subsidiary of Orakum N.V.. They are likewise 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 known for providing an omni-channel home entertainment experience in regulated emerging markets. Under Ramnani’s leadership, SportyBet has ended up being a considerable player in the industry, with over 1 million downloads on the Google Play Store.

In addition to his role at SportyBet, sports betting Sudeep is an active financier in fintech and mobile payments and a strong supporter for the growing African internet ecosystem. His financial investments reflect his commitment to promoting development and development within the region.

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

The firm is set to interfere with the sports betting market.

Sunbet Sporting International Limited has stated it is focused on changing how countless Africans engage with sports betting. In a market worth over $1.5 billion annual, with double-digit development forecast in the coming years, according to reports from the African Sports Betting Association and PwC, the firm intends to take advantage of advanced technology and a dedication to accountable gambling to change the sector.

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

At a press instruction, the company’s spokesperson, sports betting Akin Babatunde, stated that the increase in Internet penetration, mobile usage, and the continent’s deep passion for sports betting, specifically football, has actually set the stage for Sunbet’s enthusiastic entry. He added that the company’s robust sponsorship and sports betting professional group will enable it to scale and dominate the marketplace quickly.

Islamic cops raid betting stores in northern Nigeria

Islamic authorities in Nigeria’s northern city of Kano have actually begun shutting down sports betting wagering shops, which they say are operating illegally.

“As you know, wagering is forbidden in Islam,” Mujahid Aminudeen, deputy chief of the Sharia police force, referred to as the Hisbah, told the BBC.

Grievances from community leaders and moms and sports betting dads triggered the crackdown, worried about the growing variety of sports betting addicts, sports betting he said.

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

But Mr Aminudeen alerted that now that the general public understood that the Hisbah was clamping down on gambling, those flouting the guidelines would be jailed.

Kano city is the capital of Kano state, which has a bulk Muslim population and runs the Islamic legal system – Sharia – together with secular law.

Bookies and sports betting bars tend to be allowed to run in Kano’s Christian areas, sports betting though they too can face action if the Hisbah thinks Muslims are frequenting them.

However, the present crackdown is concentrated on Muslim areas of Kano, a sprawling city and the economic hub of northern Nigeria.

Sports betting stores can be found all over the city. Many have tv screens, and customers enjoy the outcome of international football matches or horse races on which they have actually staked cash.

Mr Aminudeen said such bookmakers had been able to operate under the radar as they had actually opened under false pretenses.

“They do not have licences to run as they were allowed to run video games centres, which they later on converted to wagering shops,” he said.

The sports betting industry has actually broadened dramatically throughout West Africa recently. The region is approximately divided in between a primarily Muslim north and a predominantly Christian south.

Many people go to bookies to take pleasure in the friendship of other bettors, though mobile apps are also popular for wagering on the result of occasions and teams.

Nigeria’s crippling economic crisis has actually also implied individuals want to run the risk of a percentage in the hope of winning big.

However this had actually caused prevalent dependency, and sports betting moms and sports betting dads were even grumbling that children were dropping out of school to gamble, Mr Aminudeen said.

“These financial issues we are dealing with in Nigeria is God informing us to change our ways by stopping sins,” he said.

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

“I am encouraging those running those wagering shops to either shut down or we’ll apprehend them and take them to [a Sharia] court,” Mr Aminudeen said.

It is uncertain what penalty they would deal with – frequently, such infringements bring a fine.

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