About Us

Power Players and Religious Police: The Future of Sports Betting in Nigeria

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

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

Slowly, with increased internet 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 obstacles such as inflation, Nigeria’s sports betting sector has actually thrived, attracting millions, particularly among the younger group facing high unemployment rates.

Reports indicate that around 60 million Nigerians aged 18-40 actively take part in sports betting, driving an industry that generates a projected annual income of N730 billion. The federal government has actually not gone unnoticed by this growth, sports betting which is thinking about regulatory measures like import tax tasks and VAT boosts to manage the sector.

The National Lottery Act of 2005 established regulatory bodies like the National Lottery Regulatory Commission to make sure reasonable operations in spite of difficulties in enforcement. Issues such as inadequate age confirmation and advertising guideline breaches reveal industry regulative gaps.

Regardless of these difficulties, sports betting companies continue to thrive through effective company designs and aggressive marketing strategies, leveraging the developer influencer industry.

These efforts have contributed to Nigeria’s robust $2 billion gaming sector, with CEOs playing crucial roles in expanding audience reach and driving market growth. Here are the CEOs of leading sports betting companies who have substantially added to Nigeria’s $2 billion gambling empire through their comprehensive audience reach.

Sheriff Olaniyan – CEO Surebet247

Constable Olaniyan is the CEO of Surebet247, a sports betting book company he co-founded with Badmos Olasupo in 2011. His diverse profession spans various 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 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 actually grown into a leading e-commerce company in the wagering and video gaming sector, sports betting running through online, mobile, and retail channels. The company was incorporated in Nigeria on November 7, 2006, and has since expanded its existence, sports betting achieving over 5,000 downloads on the Google Play Store.

Sam Sadi – CEO Livescorebet

Sam Sadi has more than 25 years of experience in sports betting brand names and sports betting media. In 2019, he became the CEO of LiveScore Group, a totally incorporated environment that integrates pertinent sports betting content, engaging functions, and a world-class sportsbook.

Because taking the helm prior to the pandemic, Sam has driven significant growth for LiveScore Group. The company’s worker headcount has actually increased by 29%, and yearly revenue has surged from around ₤ 10 million to over ₤ 80 million.

Sam’s management and tactical vision have propelled LiveScore Group’s success and assisted form the industry’s direction. LiveScoreBet has achieved 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, sports betting having actually formerly worked as the company’s Marketing and Operations Director since 2015. He signed up with Betway in 2013 and has remained in the online gaming market given that 2000, holding different successful roles, consisting of General Manager of a data analytics group and Director of a digital marketing firm.

Under Werkman’s leadership, Betway has continued to grow its market existence and boost its offerings. The business’s app has actually gathered considerable 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 transforming start-ups into institutionalized services. Her competence covers the gaming, sports betting property, sports betting and credit financing markets, where he has established himself as a tactical and sports betting functional leader.

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

Before this, she was the Chief Operating Officer from 2010 to June 2019, pivotal in the business’s functional techniques and market expansion.

She founded DearDammy Women’s Initiative (DDWIN), a non-profit company empowering women-owned companies. DDWIN provides frHer instructional background includes a Bachelor’s degree in Geology/Earth Science from the University of Ibadan, finished in 2005.

Akin Alabi, the creator of NairaBET.com, sports betting 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 practical website, setting a standard in the market.

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, founded in 2007 by the late Sergey Karshkov, has actually developed itself as one of the biggest bookies in Europe and the world. The company runs in more than 50 nations, consisting of Nigeria, where it is fully licensed.

Under Babalola’s management, 1XBET Nigeria has broadened its footprint in the competitive Nigerian sports betting wagering market, providing a vast array of sports betting alternatives and sports betting 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 endeavors, Ukanwoke has actually teamed up with African socio-economic institutions and 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, founded and sports betting introduced 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 home 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, BetKing entered into a partnership with the Lagos Employment Trust Fund, developing over 100,000 tasks, the number 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 shareholder, and joint Chief Executive of Bet365, an online gambling business she established in 2000. Bet365.com was launched in 2001 as an online sports betting site and has considering that become one of the world’s biggest online gaming companies.

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

Ojuroye is also the Chairman of Mango Asset Management, an independent Nigerian possession management company that creates financial investment returns and provides distinct financial investment insights and solutions to both private and institutional clients.

Founded in 2012 under KC Gaming Networks, Bet9ja has actually quickly grown in popularity, with over 1 million downloads on the Google Play Store. Under Ojuroye’s leadership, Bet9ja has ended up being a significant gamer in the Nigerian sports betting wagering market.

Fikayo Ogunfuye – Country Director 22bet

Fikayo Ogunfuye is an experienced expert in the sports betting market. He has been serving as the Country Director for 22BET in Nigeria since June 2021. In this function, he has contributed to the company’s growth through partnerships, sports betting organization technique, and new business development.

Fikayo’s experience includes functions such as Chief Operations Officer (West Africa) at 22BET, where he handled item development and customer experience, and Country Manager at 22BET, focusing on marketing strategy and budget 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, and content management. Fikayo also 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 offers sports betting wagering, sports betting 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 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 developed in 2013.

SportyBet is a global sports betting and sports betting real-money gaming operator understood for delivering an omni-channel home entertainment experience in controlled emerging markets. Under Ramnani’s management, SportyBet has become a substantial player in the industry, 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 mobile payments and a strong supporter for the growing African internet environment. His financial investments reflect his dedication to fostering innovation 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 firm is set to disrupt the sports betting market.

Sunbet Sporting International Limited has stated it is concentrated on revolutionising how millions of Africans engage with sports betting. In a market worth over $1.5 billion annual, with double-digit development forecast in the coming years, according to reports from the African Sports Betting Association and sports betting PwC, the firm intends to take advantage of cutting-edge innovation and a dedication to responsible sports betting to revolutionise the sector.

Backed by the monetary power of 4 popular African billionaires, Sunbet, sports betting which will launch in the very first quarter of 2025, intends to be the continent’s largest and most ingenious sports betting platform.

At a press briefing, the business’s representative, Akin Babatunde, said that the increase in Internet penetration, mobile use, and the continent’s deep passion for sports betting, specifically football, has set the stage for Sunbet’s ambitious entry. He added that the company’s robust financial backing and professional team will allow it to scale and dominate the market rapidly.

Islamic cops raid wagering stores in northern Nigeria

Islamic police in Nigeria’s northern city of Kano have begun closing down sports betting wagering shops, which they say are operating illegally.

“As you know, sports betting is forbidden in Islam,” Mujahid Aminudeen, deputy chief of the Sharia police, called the Hisbah, told the BBC.

Problems from community leaders and parents triggered the crackdown, worried about the growing number of sports betting addicts, he said.

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

However Mr Aminudeen cautioned that now that the general public knew that the Hisbah was clamping down on gaming, those flouting the guidelines would be apprehended.

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

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

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

Sports betting stores can be found all over the city. A lot of have television screens, and clients watch the result of worldwide football matches or horse races on which they have staked money.

Mr Aminudeen said such bookies had actually had the ability to run under the radar as they had 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 stores,” he said.

The sports betting market has actually expanded dramatically across West Africa recently. The region is between a generally Muslim north and a primarily Christian south.

Lots of people go to bookies to take pleasure in the camaraderie of other gamblers, though mobile apps are likewise popular for sports betting on the result of occasions and teams.

Nigeria’s debilitating economic crisis has also implied individuals are willing to risk a small amount in the hope of winning big.

But this had actually led to extensive dependency, sports betting and moms and dads were even grumbling that kids were dropping out of school to bet, Mr Aminudeen stated.

“These economic issues we are dealing with in Nigeria is God telling us to change our methods by stopping sins,” he said.

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

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

It is unclear what penalty they would face – frequently, sports betting such infringements carry a fine.

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