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

Meet CEOs/MDs of companies behind Nigeria’s $2 billion Sports wagering market.

Gambling has developed considerably in Nigeria from traditional types like pool staking and sports betting Baba Ijebu to a successful sports betting wagering industry. Historically tied to European football leagues, pool staking was a typical sight at motor parks and kiosks, where enthusiasts would bet as little as N50-N200 on matches.

Slowly, with increased internet gain access to came virtual sports betting, which parallels international patterns. The sports betting market is valued at $89.91 billion in 2023 and is forecasted to nearly double to $182.02 billion by 2030.

In spite of economic obstacles such as inflation, Nigeria’s sports betting sector has actually flourished, sports betting attracting millions, especially amongst the younger demographic dealing with high unemployment rates.

Reports indicate that roughly 60 million Nigerians aged 18-40 actively take part in sports betting wagering, driving a market that creates a projected yearly earnings of N730 billion. The federal government has actually not gone unnoticed by this development, which is considering regulative steps like import tax duties and VAT boosts to manage the sector.

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

Regardless of these obstacles, sports betting wagering companies continue to thrive through effective business models and aggressive marketing methods, leveraging the creator influencer market.

These efforts have contributed to Nigeria’s robust $2 billion gambling sector, sports betting with CEOs playing essential functions in expanding audience reach and driving market development. Here are the CEOs of leading sports betting companies who have actually significantly contributed to Nigeria’s $2 billion gaming empire through their substantial audience reach.

Constable Olaniyan – CEO Surebet247

Constable Olaniyan is the CEO of Surebet247, a sports betting book company he co-founded with Badmos Olasupo in 2011. His varied profession spans various roles in the gaming and entertainment industry, consisting of working at one of the United Kingdom’s biggest video 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 wagering and gaming sector, operating through online, mobile, and sports betting retail channels. The business was integrated in Nigeria on November 7, 2006, and sports betting has because broadened 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 brands and sports betting media. In 2019, sports betting he ended up being the CEO of LiveScore Group, a completely integrated environment that combines appropriate sports betting material, engaging features, sports betting and a world-class sportsbook.

Considering that taking the helm prior to the pandemic, Sam has driven substantial growth for LiveScore Group. The business’s worker headcount has increased by 29%, and annual income has actually risen from roughly ₤ 10 million to over ₤ 80 million.

Sam’s leadership and tactical vision have propelled LiveScore Group’s success and assisted shape the industry’s direction. 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 formerly functioned as the business’s Marketing and Operations Director sports betting since 2015. He signed up with Betway in 2013 and has actually remained in the online video gaming industry because 2000, holding different successful functions, consisting of General Manager of a data analytics group and Director of a digital marketing agency.

Under Werkman’s management, Betway has actually continued to grow its market existence and boost its offerings. The company’s app has actually amassed substantial user engagement, sports betting 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 changing start-ups into institutionalized businesses. Her proficiency covers the gaming, realty, and credit financing industries, where he has developed himself as a strategic and operational leader.

Damilare has contributed in NairaBET’s success for over 14 years. Considering that June 2019, she has worked as Managing Director sports betting and has actually managed the business’s growth and operations in Lagos, Nigeria.

Before this, she was the Chief Operating Officer from 2010 to June 2019, critical in the company’s operational methods and market expansion.

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

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

Under Babalola’s leadership, 1XBET Nigeria has actually broadened its footprint in the competitive Nigerian sports betting wagering market, using a large range of sports betting options and an user-friendly 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 actually collaborated with African socio-economic organizations and federal governments to develop developmental policies focused on empowering young people. In 2015, sports betting Ernst & & Young honoured him as the Winner of the Accelerating Category– World Entrepreneur of the Year.

BetKing, established and released 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 business has rapidly grown its existence in Nigeria, with outlets in major 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 tasks, the variety of which is increasing yearly. In the 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, bulk investor, and joint Chief Executive of Bet365, an online gaming company she developed in 2000. Bet365.com was launched in 2001 as an online sports betting site and has actually because turned into among the world’s largest online gaming companies.

By 2016, Bet365 produced $2 billion in incomes and assisted in $45 billion in annual bets. The business likewise holds a majority stake in Stoke City Football Club. Bet365 has actually amassed 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, established alongside business owner Kunle Soname, who also owns Portuguese club CD Feirense and Nigerian club Remo Stars.

Ojuroye is also the Chairman of Mango Asset Management, an independent Nigerian possession management business that generates investment returns and uses special investment insights and services to both specific and institutional clients.

Founded in 2012 under KC Gaming Networks, sports betting Bet9ja has quickly grown in appeal, with over 1 million downloads on the Google Play Store. Under Ojuroye’s leadership, Bet9ja has become a substantial player in the Nigerian sports betting 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 since June 2021. In this function, he has actually added to the business’s development through partnerships, service technique, and brand-new business advancement.

Fikayo’s experience consists of functions such as Chief Operations Officer (West Africa) at 22BET, where he handled item development and sports betting customer experience, sports betting 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 various digital marketing functions at Laclic Services and Betty Bingo.

His career started at Jumia Group, where he operated 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 sports betting Accounting from Ladoke Akintola University of Technology and a Master of Science (MS) in Business Administration, Management, sports betting and Operations from ESTG University in Cotonou, Benin Republic.

22Bet is an online gambling platform that offers sports betting wagering, gambling establishment video games, and live dealership games. It was released in 2017 and is owned and run by Marikit Holdings Ltd, a company signed up in Cyprus and sports betting a subsidiary of Orakum N.V.. They are likewise 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, sports betting a company he developed in 2013.

SportyBet is a global sports betting wagering and sports betting real-money video gaming operator known for delivering an omni-channel home entertainment experience in managed emerging markets. Under Ramnani’s leadership, SportyBet has ended up being a substantial gamer 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 sports betting mobile payments and a strong supporter for the growing African web community. His his dedication to fostering innovation and advancement within the area.

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

The firm is set to disrupt the sports wagering market.

Sunbet Sporting International Limited has said 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, sports betting according to reports from the African Sports Betting Association and PwC, the firm intends to leverage cutting-edge technology and sports betting a dedication to responsible sports betting to change the sector.

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

At a press instruction, the business’s representative, Akin Babatunde, stated that the rise in Internet penetration, mobile use, and the continent’s deep passion for sports betting, especially football, has 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 dominate the marketplace rapidly.

Islamic authorities raid betting stores in northern Nigeria

Islamic authorities in Nigeria’s northern city of Kano have actually started shutting down sports betting shops, which they state are operating unlawfully.

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

Problems from community leaders and parents triggered the crackdown, stressed over the growing number of sports betting addicts, he stated.

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

However Mr Aminudeen warned that now that the general public understood that the Hisbah was clamping down on sports betting, those flouting the rules would be detained.

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

Bookmakers and bars tend to be allowed to operate in Kano’s Christian areas, though they too can deal with action if the Hisbah believes Muslims are frequenting them.

However, the existing crackdown is concentrated on Muslim locations of Kano, 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, and sports betting customers enjoy the result of global football matches or horse races on which they have actually staked money.

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

“They do not have licences to operate as they were permitted to run computer game centres, which they later on transformed to wagering shops,” he said.

The sports betting wagering market has actually expanded considerably throughout West Africa over the last few years. The region is approximately divided between a primarily Muslim north and a primarily Christian south.

Many people go to bookmakers to delight in the friendship of other gamblers, though mobile apps are also popular for wagering on the outcome of occasions and sports betting groups.

Nigeria’s debilitating recession has actually likewise meant people want to risk a percentage in the hope of winning big.

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

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

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

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

It is unclear what penalty they would face – typically, such infringements bring a fine.

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