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

sports betting has developed significantly in Nigeria from standard forms like pool staking and Baba Ijebu to a growing sports betting industry. Historically tied to European football leagues, swimming pool staking was a typical sight at motor sports betting parks and kiosks, where enthusiasts would wager as low as N50-N200 on matches.

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

In spite of economic difficulties such as inflation, Nigeria's sports betting sector has thrived, bring in millions, particularly among the vibrant group facing high joblessness rates.

Reports suggest that roughly 60 million Nigerians aged 18-40 actively take part in sports betting wagering, driving a market that generates a projected annual income of N730 billion. The federal government has not gone undetected by this development, which is considering regulative measures like import tax tasks and VAT increases to manage the sector.

The National Lottery Act of 2005 established regulative bodies like the National Lottery Regulatory Commission to ensure reasonable operations in spite of challenges in enforcement. Problems such as insufficient age confirmation and advertising guideline breaches reveal industry regulative spaces.

Regardless of these challenges, sports betting wagering companies continue to thrive through efficient company designs and sports betting aggressive marketing techniques, sports betting leveraging the developer influencer industry.

These efforts have actually added to Nigeria's robust $2 billion gambling sector, with CEOs playing vital functions in broadening audience reach and driving market development. Here are the CEOs of leading sports betting wagering companies who have substantially contributed to Nigeria's $2 billion gambling empire through their comprehensive audience reach.

Constable Olaniyan - CEO Surebet247
Sheriff Olaniyan is the CEO of Surebet247, a sports betting book company he co-founded with Badmos Olasupo in 2011. His diverse career spans numerous functions in the video gaming and show business, consisting of working at among the United Kingdom's biggest video gaming centres, The Palace Bingo Club, where he acted 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 business in the wagering and video gaming sector, operating through online, mobile, and retail channels. The business was incorporated in Nigeria on November 7, 2006, and has since expanded its presence, accomplishing over 5,000 downloads on the Google Play Store.
Sam Sadi - CEO Livescorebet
Sam Sadi has more than 25 years of experience in wagering brand names and sports betting media. In 2019, he became the CEO of LiveScore Group, sports betting a fully integrated community that combines appropriate sports betting material, engaging features, and sports betting a first-rate sportsbook.

Since taking the helm prior sports betting to the pandemic, Sam has driven considerable growth for LiveScore Group. The company's worker headcount has actually increased by 29%, and yearly earnings has surged from around ₤ 10 million to over ₤ 80 million.

Sam's leadership and tactical vision have moved LiveScore Group's success and assisted form the industry's direction. LiveScoreBet has actually attained significant user engagement, with over 100,000 downloads on the Google Play Store.
Anthony Werkman - CEO of Betway Group
Anthony Werkman was appointed CEO of Betway in November 2017, having previously acted as the business's Marketing and sports betting Operations Director considering that 2015. He joined Betway in 2013 and sports betting has been in the online gaming industry given that 2000, holding numerous effective functions, including General Manager of an information analytics team and Director of a digital marketing agency.

Under Werkman's management, Betway has actually 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 differentiated herself as a senior executive with a performance history of transforming start-ups into institutionalized organizations. Her expertise covers the video gaming, property, and credit lending markets, where he has developed himself as a strategic and functional leader.

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

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

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

Akin Alabi, sports betting the creator of NairaBET.com, sports betting Nigeria's pioneering sports betting bookmaking company, established business in 2009. While NairaBET was not the very first sports betting platform in Nigeria, it was the first to launch a fully functional site, setting a benchmark 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 global sports betting business based in Cyprus. 1XBET, sports betting founded in 2007 by the late Sergey Karshkov, has actually established itself as one of the biggest bookies in Europe and sports betting the world. The company operates in more than 50 countries, consisting of Nigeria, where it is fully certified.

Under Babalola's management, 1XBET Nigeria has expanded its footprint in the competitive Nigerian sports betting wagering market, offering a large range of sports betting 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 teamed up with African socio-economic institutions and governments to create 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, by Byron Petzer and sports betting Adekunle Adeniji, operates under the trademark name of Lake Ventures Ltd. This pan-African sports betting wagering and entertainment company has actually quickly grown its existence 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 jobs, the variety of which is increasing yearly. 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 founder, sports betting bulk investor, and joint Chief Executive of Bet365, an online sports betting company she established in 2000. Bet365.com was introduced in 2001 as an online sports betting site and sports betting has actually given that grown into one of the world's biggest online gambling business.
bet9ja.com
By 2016, Bet365 created $2 billion in revenues and facilitated $45 billion in annual bets. The company 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 company in Nigeria, established alongside businessman Kunle Soname, who likewise owns Portuguese club CD Feirense and Nigerian club Remo Stars.

Ojuroye is likewise the Chairman of Mango Asset Management, an independent Nigerian possession management company that generates financial investment returns and offers unique financial investment insights and options to both specific and institutional clients.

Founded in 2012 under KC Gaming Networks, Bet9ja has actually quickly grown in popularity, sports betting with over 1 million downloads on the Google Play Store. Under Ojuroye's management, Bet9ja has actually ended up being a significant gamer in the Nigerian sports betting wagering industry.
Fikayo Ogunfuye - Country Director 22bet
Fikayo Ogunfuye is an experienced specialist in the sports betting wagering market. He has actually been functioning as the Country Director for 22BET in Nigeria considering that June 2021. In this role, he has added to the company's development through collaborations, organization strategy, and new organization advancement.

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

His career began at Jumia Group, where he operated in SEO, CRM, and content management. Fikayo likewise 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, sports betting Management, and Operations from ESTG University in Cotonou, Benin Republic.
bit.ly
22Bet is an online gaming platform that offers sports betting wagering, casino video games, and live dealer video games. It was introduced in 2017 and is owned and run by Marikit Holdings Ltd, a company registered in Cyprus and a subsidiary of Orakum N.V.. They are likewise the owners of Betwinner and sports betting a chain of gambling establishments 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 wagering and real-money video gaming operator understood for providing an omni-channel home entertainment experience in regulated emerging markets. Under Ramnani's leadership, SportyBet has actually become a significant player in the market, sports betting with over 1 million downloads on the Google Play Store.

In addition to his role at SportyBet, Sudeep is an active investor in fintech and sports betting mobile payments and a strong supporter for the growing African internet ecosystem. His financial investments reflect his commitment to promoting development 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 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, with double-digit development projection in the coming years, according to reports from the African Sports Betting Association and sports betting PwC, the firm intends to leverage innovative technology and sports betting a commitment to responsible gambling to revolutionise the sector.

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

At a press rundown, the business's spokesperson, Akin Babatunde, said that the increase in Internet penetration, mobile use, and sports betting 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 specialist team will enable it to scale and dominate the market quickly.


Islamic police raid betting shops in northern Nigeria

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

"As you understand, wagering is forbidden in Islam," Mujahid Aminudeen, deputy chief of the Sharia police, referred to as the Hisbah, sports betting informed the BBC.

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

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

However Mr Aminudeen cautioned that now that the general public knew that the Hisbah was clamping down on sports betting, sports betting those flouting the rules would be arrested.

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.

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

Nevertheless, the current crackdown is focused on Muslim locations of Kano, a sprawling city and the financial center of northern Nigeria.

Sports betting shops can be discovered all over the city. Most have tv screens, and clients see the result of international football matches or horse races on which they have actually staked money.

Mr Aminudeen said such bookmakers had had the ability to operate under the radar as they had actually opened under false pretences.

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

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

Lots of people go to bookmakers to enjoy the camaraderie of other gamblers, though mobile apps are likewise popular for wagering on the result of occasions and teams.

Nigeria's crippling recession has likewise suggested individuals are willing to run the risk of a percentage in the hope of winning huge.

However this had actually resulted in extensive addiction, and parents were even complaining that children were leaving of school to gamble, Mr .

"These financial problems we are dealing with in Nigeria is God telling us to alter our methods by stopping sins," he said.

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

"I am encouraging those running those sports betting shops to either shut down or we'll arrest them and take them to [a Sharia] court," Mr Aminudeen stated.

It is unclear what penalty they would face - often, such infringements bring a fine.

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