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

Gaming has progressed significantly in Nigeria from standard forms like pool staking and Baba Ijebu to a flourishing sports betting wagering market. Historically tied to European football leagues, swimming pool staking was a common sight at motor parks and kiosks, where lovers would wager as little as N50-N200 on matches.

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

Regardless of economic challenges such as inflation, Nigeria's sports betting wagering sector has actually thrived, attracting millions, particularly among the youthful market facing high unemployment rates.

Reports indicate that approximately 60 million Nigerians aged 18-40 actively participate in sports betting wagering, driving an industry that produces a projected yearly revenue of N730 billion. The federal government has not gone undetected by this development, which is considering regulative measures like import tax duties and VAT increases to manage the sector.

The National Lottery Act of 2005 recognized regulative bodies like the National Lottery Regulatory Commission to make sure reasonable operations despite challenges in enforcement. Issues such as inadequate age confirmation and marketing rule breaches show market regulative spaces.

In spite of these obstacles, sports betting wagering companies continue to thrive through efficient service models and aggressive marketing methods, leveraging the developer influencer industry.

These efforts have actually added to Nigeria's robust $2 billion gaming sector, with CEOs playing crucial functions in expanding audience reach and driving market development. Here are the CEOs of leading sports betting wagering business who have significantly added to Nigeria's $2 billion gambling 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 career covers various functions in the video gaming and entertainment industry, including operating at among the United Kingdom's largest 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, sports betting founded in August 2011, has grown into a leading e-commerce service in the sports betting and video gaming sector, running through online, mobile, and retail channels. The company was included in Nigeria on November 7, sports betting 2006, and has actually since expanded its presence, achieving 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 ended up being the CEO of LiveScore Group, a fully incorporated community that integrates relevant sports betting content, engaging features, sports betting and a world-class sportsbook.

Because taking the helm right before the pandemic, Sam has actually driven considerable development for LiveScore Group. The business's worker headcount has actually increased by 29%, and annual earnings has risen from around ₤ 10 million to over ₤ 80 million.

Sam's management and tactical vision have actually moved LiveScore Group's success and assisted shape the industry's instructions. LiveScoreBet has attained 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 remained in the online video gaming market since 2000, holding numerous effective functions, including General Manager of a data analytics group and Director of a digital marketing agency.

Under Werkman's leadership, Betway has continued to grow its market existence and boost its offerings. The company's app has amassed considerable 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 transforming start-ups into institutionalized services. Her know-how spans the gaming, property, and credit financing markets, where he has actually developed himself as a tactical and functional leader.

Damilare has actually been instrumental in NairaBET's success for sports betting over 14 years. Considering that June 2019, she has actually worked as Managing Director and has actually overseen the business's development 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), sports betting a non-profit organization empowering women-owned organizations. 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 creator of NairaBET.com, Nigeria's pioneering sports betting bookmaking business, developed the business in 2009. While NairaBET was not the first sports betting wagering platform in Nigeria, sports betting it was the very first to release a fully functional site, setting a standard in the market.

Femi Babalola- General Manager of 1Xbet Nigeria Limited

Femi Babalola is the Managing Director of 1XBET Nigeria Limited, sports betting a franchise of the international sports betting wagering company based in Cyprus. 1XBET, founded in 2007 by the late Sergey Karshkov, sports betting has actually developed itself as one of the biggest bookies in Europe and sports betting the world. The company operates in more than 50 countries, including Nigeria, where it is fully licensed.

Under Babalola's management, sports betting 1XBET Nigeria has broadened its footprint in the competitive Nigerian sports betting market, providing a wide variety of sports betting choices and an easy to use 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 Chairman of Vend Capital. In addition to leading these ventures, Ukanwoke has teamed up with African socio-economic institutions and federal governments to design developmental policies targeted 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 introduced in Nigeria on February 22, 2018, by Byron Petzer and Adekunle Adeniji, sports betting operates under the trademark name of Lake Ventures Ltd. This pan-African sports betting and sports betting home entertainment company has actually rapidly grown its existence in Nigeria, with outlets in significant cities and over 500,000 downloads on the Google Play Store.

In 2020, BetKing participated in a partnership with the Lagos Employment Trust Fund, developing over 100,000 tasks, sports betting the number of which is increasing each year. 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, sports betting the creator, bulk shareholder, and sports betting joint Chief Executive of Bet365, an online gaming business she developed in 2000. Bet365.com was launched in 2001 as an online wagering website and has actually since grown into among the world's biggest online sports betting companies.

By 2016, sports betting Bet365 produced $2 billion in profits and assisted in $45 billion in annual bets. The company also holds a majority stake in Stoke City Football Club. Bet365 has actually 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 wagering business in Nigeria, established 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 property management company that produces investment returns and uses special financial investment insights and services to both individual and institutional customers.

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

Fikayo Ogunfuye - Country Director 22bet

Fikayo Ogunfuye is an experienced specialist in the sports betting wagering industry. He has actually been acting as the Country Director for 22BET in Nigeria because June 2021. In this role, sports betting he has actually contributed to the business's development through partnerships, organization technique, and new organization advancement.

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

His career began at Jumia Group, where he worked 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 Operations from ESTG University in Cotonou, Benin Republic.

22Bet is an online sports betting platform that offers sports betting, gambling establishment games, and live dealership video games. It was released in 2017 and is owned and run 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 CEO of SportyBet, a business he developed in 2013.

SportyBet is a global sports betting wagering and real-money video gaming operator sports betting understood for providing an omni-channel entertainment experience in controlled emerging markets. Under Ramnani's leadership, SportyBet has actually ended up being a considerable gamer in the industry, with over 1 million downloads on the Google Play Store.

In addition to his function at SportyBet, Sudeep is an active investor sports betting in fintech and mobile payments and a strong supporter for the growing African internet community. His investments reflect his dedication to fostering development and development within the region.

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

The firm is set to disrupt the sports wagering industry.

Sunbet Sporting International Limited has stated it is focused on changing how millions of Africans engage with sports betting. In an industry worth over $1.5 billion yearly, with double-digit growth projection in the coming years, according to reports from the African Sports Betting Association and sports betting PwC, the company aims to take advantage of innovative technology and sports betting a dedication to responsible gambling to revolutionise the sector.

Backed by the monetary power of four prominent African billionaires, Sunbet, which will release in the first quarter of 2025, sports betting intends to be the continent's largest and sports betting most innovative sports betting wagering platform.

At a press instruction, the company's representative, sports betting Akin Babatunde, stated that the increase in Internet penetration, sports betting mobile use, and the continent's deep passion for sports betting, particularly football, has set the stage for Sunbet's enthusiastic entry. He included that the firm's robust sponsorship and expert group will enable it to scale and control the marketplace quickly.

Islamic cops raid wagering shops in northern Nigeria

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

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

Grievances from neighborhood leaders and sports betting parents triggered the crackdown, worried about the growing number of sports betting addicts, he stated.

On the first day of raids, 30 stores were closed in one suburb alone, and their owners were sent home with a caution, the Sharia officer said.

But Mr Aminudeen warned that now that the 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 operates the Islamic legal system - Sharia - along with nonreligious law.

Bookmakers and sports betting bars tend to be enabled to operate in Kano's Christian areas, though they too can face action if the Hisbah believes Muslims are frequenting them.

Nevertheless, the current crackdown is concentrated on Muslim areas of Kano, a vast city and sports betting the economic center of northern Nigeria.

Sports betting shops can be found all over the city. The majority of have tv screens, and customers see the result of worldwide football matches or horse races on which they have staked cash.

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

"They do not have licences to run as they were permitted to run video games centres, which they later transformed to sports betting shops," he stated.

The sports betting industry has actually expanded considerably across West Africa recently. The region is roughly divided in between a mainly Muslim north and a primarily Christian south.

Many people go to bookmakers to enjoy the sociability of other bettors, though mobile apps are likewise popular for wagering on the result of occasions and teams.

Nigeria's debilitating recession has actually also implied people want to run the risk of a percentage in the hope of winning huge.

However this had resulted in prevalent dependency, and parents were even complaining that kids were leaving of school to bet, Mr Aminudeen stated.

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

The raids on Tuesday focused on Munjibir, 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 shut down or we'll apprehend them and take them to [a Sharia] court," Mr Aminudeen said.

It is uncertain what penalty they would face - often, sports betting such violations carry a fine.

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