Betting Leaders Under Scrutiny: New Player Emerges as Northern Nigeria Intensifies Betting Controls
Meet CEOs/MDs of business behind Nigeria’s $2 billion Sports wagering industry.
sports betting has actually developed significantly in Nigeria from traditional types like pool staking and Baba Ijebu to a thriving sports betting wagering market. Historically connected to European football leagues, swimming pool staking was a common sight at motor parks and kiosks, where lovers would bet as low as N50-N200 on matches.
Gradually, with increased internet access came virtual sports betting, 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 challenges such as inflation, Nigeria’s sports betting wagering sector sports betting has actually grown, sports betting attracting millions, especially among the vibrant demographic facing high joblessness rates.
Reports suggest that approximately 60 million Nigerians aged 18-40 actively take part in sports betting wagering, driving a market that generates an approximated annual earnings of N730 billion. The federal government has not gone unnoticed by this development, sports betting which is considering regulative procedures like import tax responsibilities and VAT increases to manage the sector.
The National Lottery Act of 2005 established regulatory bodies like the National Lottery Regulatory Commission to guarantee reasonable operations in spite of obstacles in enforcement. Concerns such as inadequate age verification and advertising rule breaches reveal industry regulative spaces.
In spite of these challenges, sports betting business continue to prosper through effective organization models and aggressive marketing strategies, sports betting leveraging the developer influencer industry.
These efforts have actually added to Nigeria’s robust $2 billion sports betting sector, with CEOs playing essential functions in broadening audience reach and driving industry development. 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.
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 varied profession spans numerous roles in the video gaming and show business, consisting of operating at among the United Kingdom’s largest 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 turned into a leading e-commerce organization in the sports betting and sports betting gaming sector, sports betting running through online, mobile, and sports betting retail channels. The company was incorporated in Nigeria on November 7, 2006, and has actually since expanded its presence, accomplishing over 5,000 downloads on the Google Play Store.
Sam Sadi – CEO Livescorebet
Sam Sadi has over 25 years of experience in wagering brand names and sports betting media. In 2019, he ended up being the CEO of LiveScore Group, a fully incorporated community that integrates pertinent sports betting material, engaging functions, sports betting and a world-class sportsbook.
Because taking the helm just before the pandemic, Sam has driven significant growth for LiveScore Group. The company’s staff member headcount has actually increased by 29%, sports betting and yearly income has actually risen from approximately ₤ 10 million to over ₤ 80 million.
Sam’s management and tactical vision have actually propelled LiveScore Group’s success and helped form the industry’s direction. LiveScoreBet has accomplished significant 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 formerly functioned as the company’s Marketing and Operations Director because 2015. He joined Betway in 2013 and has actually been in the online gaming industry because 2000, holding different effective functions, sports betting including General Manager of an information analytics group and Director of a digital marketing company.
Under Werkman’s leadership, Betway has actually continued to grow its market existence and enhance its offerings. The business’s app has amassed significant 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 businesses. Her proficiency spans the gaming, property, and credit financing markets, where he has established himself as a tactical and functional leader.
Damilare has been instrumental in NairaBET’s success for over 14 years. Considering that June 2019, she has functioned as Managing Director and has actually managed the business’s growth and operations in Lagos, Nigeria.
Before this, sports betting she was the Chief Operating Officer from 2010 to June 2019, sports betting essential in the company’s functional techniques and market growth.
She established DearDammy Women’s Initiative (DDWIN), a non-profit organization empowering women-owned businesses. DDWIN offers frHer educational background consists of a Bachelor’s degree in Geology/Earth Science from the University of Ibadan, finished in 2005.
Akin Alabi, the founder of NairaBET.com, Nigeria’s pioneering sports betting bookmaking company, developed business in 2009. While NairaBET was not the first sports betting wagering platform in Nigeria, it was the very first to introduce a totally practical website, setting a benchmark in the industry.
Femi Babalola- General Manager of 1Xbet Nigeria Limited
Femi Babalola is the Managing Director of 1XBET Nigeria Limited, sports betting a franchise of the worldwide sports betting wagering company based in Cyprus. 1XBET, founded in 2007 by the late Sergey Karshkov, sports betting has established itself as one of the largest bookies in Europe and the world. The company operates in more than 50 nations, consisting of Nigeria, where it is totally accredited.
Under Babalola’s management, 1XBET Nigeria has actually broadened its footprint in the competitive Nigerian sports betting market, providing a large range of wagering options and an user-friendly platform. The 1XBET app has over 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 sports betting Chairman of Vend Capital. In addition to leading these endeavors, Ukanwoke has actually worked together with African socio-economic institutions and governments to create 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, established and introduced 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 entertainment company has 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, developing over 100,000 tasks, the variety of which is increasing every year. In the very same year, sports betting 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, sports betting the founder, majority shareholder, and sports betting joint Chief Executive of Bet365, an online sports betting company she developed in 2000. Bet365.com was launched in 2001 as an online wagering site and sports betting has actually because grown into among the world’s largest online gambling business.
By 2016, Bet365 produced $2 billion in revenues and helped with $45 billion in yearly bets. The business also holds a bulk stake in Stoke City Football Club. Bet365 has 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 company in Nigeria, developed along with business owner Kunle Soname, who also owns Portuguese club CD Feirense and Nigerian club Remo Stars.
Ojuroye is likewise the Chairman of Mango Asset Management, an independent Nigerian asset management business that produces investment returns and sports betting provides unique financial investment insights and sports betting options to both specific and institutional customers.
Founded in 2012 under KC Gaming Networks, Bet9ja has rapidly grown in popularity, with over 1 million downloads on the Google Play Store. Under Ojuroye’s management, Bet9ja has actually become a considerable gamer in the Nigerian sports betting wagering industry.
Fikayo Ogunfuye – Country Director 22bet
Fikayo Ogunfuye is an experienced professional in the sports betting industry. He has been functioning as the Country Director for 22BET in Nigeria considering that June 2021. In this function, he has added to the company’s growth through collaborations, company method, and new service advancement.
Fikayo’s experience includes roles such as Chief Operations Officer (West Africa) at 22BET, where he managed item development and customer experience, and Country Manager at 22BET, concentrating on marketing technique and budget management. Before 22BET, he led marketing efforts at LuckyBet.NG and held various digital marketing functions at Laclic Services and Betty Bingo.
His career began at Jumia Group, where he worked in SEO, CRM, and content management. Fikayo likewise functioned 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, 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 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 gambling establishments worldwide.
Sudeep Ramnani– CEO Sportybet Group
Sudeep Ramnani is the Founder and CEO of SportyBet, a business he established in 2013.
SportyBet is a global sports betting wagering and real-money video gaming operator known for providing an omni-channel entertainment experience in controlled emerging markets. Under Ramnani’s leadership, SportyBet has actually become a significant player in the industry, sports betting 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 sports betting mobile payments and a strong advocate for the growing African web environment. His investments reflect his commitment to cultivating innovation and advancement within the region.
On April 30, 2024, Sudeep Ramnani invested in Chowdeck, sports betting taking part in a seed round valued at $2.5 million.
The company is set to disrupt the sports betting market.
Sunbet Sporting International Limited has said it is concentrated on revolutionising how countless Africans engage with sports betting. In an industry worth over $1.5 billion yearly, with double-digit development projection in the coming years, according to reports from the African Sports Betting Association and PwC, the company intends to leverage innovative technology and a dedication to responsible gaming to revolutionise the sector.
Backed by the monetary power of 4 prominent African billionaires, Sunbet, which will launch in the first quarter of 2025, sports betting intends to be the continent’s largest and most ingenious sports betting wagering platform.
At a press rundown, the company’s spokesperson, Akin Babatunde, stated that the increase in Internet penetration, mobile usage, and the continent’s deep passion for sports betting, particularly football, has actually set the stage for Sunbet’s enthusiastic entry. He included that the company’s robust financial backing and specialist group will allow it to scale and control the marketplace quickly.
Islamic cops 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 operating illegally.
“As you know, wagering is prohibited in Islam,” Mujahid Aminudeen, deputy chief of the Sharia police force, known as the Hisbah, told the BBC.
Grievances from neighborhood leaders and parents triggered the crackdown, fretted about the growing number of gambling addicts, he stated.
On the first day of raids, 30 stores were closed in one suburb alone, and sports betting their owners were sent out home with a warning, the Sharia officer said.
But Mr Aminudeen cautioned that now that the general public knew that the Hisbah was clamping down on sports betting, those flouting the rules would be detained.
Kano city is the capital of Kano state, sports betting which has a majority Muslim population and sports betting operates the Islamic legal system – Sharia – along with nonreligious law.
Bookmakers and bars tend to be permitted to operate in Kano’s Christian areas, 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 financial center of northern Nigeria.
Sports betting shops can be found all over the city. Most have tv screens, and sports betting clients view the outcome of worldwide football matches or horse races on which they have actually staked cash.
Mr Aminudeen stated such bookmakers had had the ability to run under the radar as they had actually opened under false pretences.
“They don’t have licences to operate as they were permitted to run computer game centres, which they later transformed to sports betting stores,” he stated.
The sports betting market has broadened drastically across West Africa recently. The area is roughly divided in between a mainly Muslim north and a primarily .
Lots of people go to bookies to take pleasure in the camaraderie of other bettors, though mobile apps are also popular for sports betting on the result of events and sports betting teams.
Nigeria’s crippling recession has actually likewise implied individuals are willing to risk a small amount in the hope of winning big.
However this had actually caused widespread addiction, and parents were even grumbling that kids were leaving of school to gamble, Mr Aminudeen said.
“These financial issues we are dealing with 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 advising those running those sports betting shops to either closed down or we’ll jail them and take them to [a Sharia] court,” Mr Aminudeen stated.
It is uncertain what punishment they would deal with – frequently, sports betting such violations bring a fine.
Sharia was introduced in Kano in 2000 – as it remained in 11 other Muslim-majority northern states – and prostitution, gaming and the usage of alcohol were prohibited.
