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

Gambling has progressed substantially in Nigeria from standard forms like pool staking and Baba Ijebu to a growing sports betting market. Historically connected to European football leagues, pool staking was a common sight at motor parks and kiosks, where enthusiasts would wager as little as N50-N200 on matches.

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

Regardless of financial difficulties such as inflation, Nigeria's sports betting sector has actually prospered, attracting millions, specifically among the vibrant market dealing with high unemployment rates.

Reports show that approximately 60 million Nigerians aged 18-40 actively engage in sports betting wagering, driving a market that creates an approximated yearly income of N730 billion. The federal government has not gone undetected by this development, which is thinking about regulative steps like import tax responsibilities and VAT increases to manage the sector.

The National Lottery Act of 2005 established regulative bodies like the National Lottery Regulatory Commission to ensure fair operations regardless of difficulties in enforcement. Issues such as insufficient age confirmation and marketing rule breaches reveal market regulative gaps.

In spite of these challenges, sports betting wagering business continue to prosper through reliable organization models and aggressive marketing techniques, leveraging the creator influencer market.

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

Constable Olaniyan - CEO Surebet247

Sheriff Olaniyan is the CEO of Surebet247, a sports betting book business he co-founded with Badmos Olasupo in 2011. His varied career covers various functions in the video gaming and entertainment industry, consisting of working 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 business in the wagering and video gaming sector, running through online, mobile, and retail channels. The company was integrated in Nigeria on November 7, 2006, and has actually given that expanded its existence, achieving over 5,000 downloads on the Google Play Store.

Sam Sadi - CEO Livescorebet

Sam Sadi has over 25 years of experience in sports betting brands and sports betting media. In 2019, he became the CEO of LiveScore Group, a completely incorporated environment that integrates pertinent sports betting content, engaging functions, and a first-rate sportsbook.

Because taking the helm just before the pandemic, Sam has driven significant growth for LiveScore Group. The company's employee headcount has actually increased by 29%, and sports betting yearly income has actually risen from roughly ₤ 10 million to over ₤ 80 million.

Sam's management and strategic vision have actually moved LiveScore Group's success and helped form the industry's direction. LiveScoreBet has accomplished significant user engagement, sports betting 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 worked as the business's Marketing and sports betting Operations Director given that 2015. He signed up with Betway in 2013 and has actually been in the online gaming industry since 2000, sports betting holding various effective functions, consisting of General Manager of a data analytics group and Director of a digital marketing agency.

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

Damilare Alabi, Co-Founder, Managing Director NairaBET

Damilare Alabi has distinguished herself as a senior executive with a performance history of changing start-ups into institutionalized companies. Her expertise spans the gaming, property, and credit loaning 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. Given that June 2019, she has actually acted as Managing Director and has actually overseen 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 growth.

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

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

Under Babalola's leadership, 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, sports betting Managing Director sports betting of KingMakers, and sports betting Chairman of Vend Capital. In addition to leading these ventures, Ukanwoke has teamed up with African socio-economic institutions and governments to create developmental policies aimed at empowering youths. In 2015, 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, operates 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 significant cities and over 500,000 downloads on the Google Play Store.

In 2020, sports betting BetKing entered into a partnership 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, sports betting the creator, majority investor, and joint Chief Executive of Bet365, an online gambling company she developed in 2000. Bet365.com was launched in 2001 as an online wagering site and sports betting has because become among the world's largest online sports betting companies.

By 2016, Bet365 created $2 billion in earnings and facilitated $45 billion in yearly bets. The company likewise holds a majority stake in Stoke City Football Club. Bet365 has actually amassed significant user engagement, with over 1 million downloads on the Google Play Store.

Ayo Ojuroye - CEO/Cofounder Bet9ja

Ayo Ojuroye is the CEO and sports betting co-founder of Bet9ja, a leading sports betting business in Nigeria, established alongside entrepreneur 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 asset management company that produces financial investment returns and uses special financial investment insights and options to both individual and institutional clients.

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

Fikayo Ogunfuye - Country Director 22bet

Fikayo Ogunfuye is an experienced specialist in the sports betting wagering market. He has actually been working as the Country Director for 22BET in Nigeria because June 2021. In this function, he has actually added to the company's growth through partnerships, service technique, and new business development.

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

His career began at Jumia Group, where he worked in SEO, CRM, sports betting 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 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 uses sports betting wagering, casino games, and live dealership video 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 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, a company he established in 2013.

SportyBet is a global sports betting and real-money gaming operator known for providing an omni-channel home entertainment experience in regulated emerging markets. Under Ramnani's management, SportyBet has actually become 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 mobile payments and a strong supporter for the growing African internet environment. His investments reflect his commitment to fostering innovation and development within the area.

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

The company is set to interrupt the sports betting 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 annual, with double-digit growth projection in the coming years, according to reports from the African Sports Betting Association and PwC, the firm aims to utilize innovative technology and sports betting a dedication to accountable gambling to change the sector.

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

At a press instruction, the business's spokesperson, Akin Babatunde, stated that the increase in Internet penetration, mobile use, and the continent's deep passion for sports betting, especially football, has actually set the stage for Sunbet's ambitious entry. He added that the firm's robust financial backing and expert group will enable it to scale and dominate the market rapidly.

Islamic cops raid wagering shops in northern Nigeria

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

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

Complaints 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 stores were closed in one suburban area alone, and their owners were sent home with a caution, sports betting the Sharia officer said.

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

Kano city is the capital of Kano state, which has a bulk Muslim population and operates the Islamic legal system - Sharia - together with nonreligious law.

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

Nevertheless, the existing crackdown is focused on Muslim locations of Kano, a vast city and the economic hub of northern Nigeria.

Sports betting stores can be found all over the city. A lot of have tv screens, and consumers watch the outcome of global football matches or sports betting horse races on which they have actually staked cash.

Mr Aminudeen said such bookies had been able 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 sports betting shops," he said.

The sports betting wagering market has broadened dramatically across West Africa over the last few years. The region is approximately divided in between a mainly Muslim north and a primarily Christian south.

Lots of people go to bookies to enjoy the camaraderie of other bettors, though mobile apps are also popular for wagering on the outcome of occasions and groups.

Nigeria's crippling economic crisis has also implied individuals want to risk a percentage in the hope of winning huge.

But this had actually resulted in widespread addiction, sports betting and moms and dads were even grumbling that children were leaving of school to gamble, Mr Aminudeen said.

"These economic issues we are facing in Nigeria is God telling us to change our methods by stopping sins," he said.

The raids on Tuesday focused on Munjibir, sports betting 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 detain them and take them to [a Sharia] court," Mr Aminudeen stated.

It is unclear what penalty they would deal with - 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 the consumption of alcohol were prohibited.