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

Gaming has actually developed considerably in Nigeria from conventional forms like pool staking and Baba Ijebu to a successful sports betting market. Historically connected to European football leagues, swimming pool staking was a common sight at motor parks and kiosks, where enthusiasts would wager just N50-N200 on matches.

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

In spite of economic obstacles such as inflation, Nigeria's sports betting wagering sector has thrived, attracting millions, sports betting specifically among the youthful market facing high joblessness rates.

Reports suggest that approximately 60 million Nigerians aged 18-40 actively participate in sports betting wagering, driving a market that creates an estimated annual revenue of N730 billion. The federal government has actually not gone undetected by this development, which is thinking about regulative steps like import tax responsibilities and VAT boosts to manage the sector.

The National Lottery Act of 2005 established regulative bodies like the National Lottery Regulatory Commission to make sure fair operations regardless of difficulties in enforcement. Issues such as inadequate age verification and advertising rule breaches reveal market regulatory gaps.

In spite of these challenges, sports betting wagering business continue to flourish through reliable company designs and aggressive marketing techniques, leveraging the developer influencer market.

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

Sheriff Olaniyan - CEO Surebet247

Constable Olaniyan is the CEO of Surebet247, a sports betting book business he co-founded with Badmos Olasupo in 2011. His diverse profession covers different roles in the video gaming and entertainment industry, including operating at among the United Kingdom's biggest 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 turned into a leading e-commerce business in the wagering and video gaming sector, running through online, sports betting mobile, and retail channels. The company was incorporated in Nigeria on November 7, 2006, and sports betting has actually since expanded its presence, sports betting 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 brands and sports betting media. In 2019, he became the CEO of LiveScore Group, a totally incorporated environment that combines pertinent sports betting content, engaging features, and a first-rate sportsbook.

Considering that taking the helm prior sports betting to the pandemic, Sam has actually driven considerable development for LiveScore Group. The company's worker headcount has actually increased by 29%, and annual revenue has risen from roughly ₤ 10 million to over ₤ 80 million.

Sam's leadership and strategic vision have actually moved LiveScore Group's success and helped form the industry's direction. LiveScoreBet has attained major 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 formerly served as the company's Marketing and Operations Director because 2015. He signed up with Betway in 2013 and has actually remained in the online gaming market because 2000, holding numerous successful roles, consisting of General Manager of an information analytics group and Director of a digital marketing agency.

Under Werkman's management, Betway has actually continued to grow its market existence and improve its offerings. The company's app has 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 actually identified herself as a senior executive with a track record of transforming start-ups into institutionalized services. Her knowledge covers the video gaming, realty, and credit lending markets, where he has developed himself as a strategic and sports betting operational leader.

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

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

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

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

Under Babalola's leadership, 1XBET Nigeria has expanded its footprint in the competitive Nigerian sports betting wagering market, using a wide range of wagering options and an user-friendly 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, sports betting Managing Director of KingMakers, and Chairman of Vend Capital. In addition to leading these ventures, Ukanwoke has worked together with African socio-economic organizations and federal 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, sports betting founded and launched in Nigeria on February 22, 2018, by Byron Petzer and Adekunle Adeniji, operates under the brand sports betting name of Lake Ventures Ltd. This pan-African sports betting and home entertainment business has quickly grown its presence 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 jobs, the number of which is increasing annually. 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, majority shareholder, and joint Chief Executive of Bet365, an online gaming company she established in 2000. Bet365.com was launched in 2001 as an online wagering site and has actually given that become among the world's biggest online sports betting companies.

By 2016, Bet365 produced $2 billion in profits and facilitated $45 billion in yearly bets. The business also holds a bulk stake in Stoke City Football Club. Bet365 has actually garnered significant 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, developed together with 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 property management business that generates investment returns and offers special investment insights and options to both specific and institutional customers.

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

Fikayo Ogunfuye - Country Director 22bet

Fikayo Ogunfuye is an experienced expert in the sports betting wagering industry. He has actually been serving as the Country Director for 22BET in Nigeria since June 2021. In this role, he has actually contributed to the business's development through partnerships, sports betting business strategy, and new service development.

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

His profession began at Jumia Group, where he operated in SEO, CRM, and sports betting content management. Fikayo likewise worked 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, and Operations from ESTG University in Cotonou, Benin Republic.

22Bet is an online gaming platform that uses sports betting, casino video games, and live dealership video games. It was introduced in 2017 and is owned and operated by Marikit Holdings Ltd, a business signed up in Cyprus and a subsidiary of Orakum N.V.. They are likewise the owners of Betwinner and a chain of casinos worldwide.

Sudeep Ramnani-- CEO Sportybet Group

Sudeep Ramnani is the Founder and CEO of SportyBet, a company he developed in 2013.

SportyBet is a global sports betting and sports betting real-money video gaming operator known for sports betting providing an omni-channel home entertainment experience in managed emerging markets. Under Ramnani's management, sports betting SportyBet has actually ended up being a significant gamer 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 web ecosystem. His financial investments reflect his commitment to fostering innovation and development within the region.

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

The company is set to interfere with the sports betting industry.

Sunbet Sporting International Limited has said it is concentrated on revolutionising how countless Africans engage with sports betting. In an industry worth over $1.5 billion yearly, sports betting with double-digit growth projection in the coming years, sports betting according to reports from the African Sports Betting Association and PwC, the company aims to utilize advanced technology and sports betting a dedication to responsible gaming to change the sector.

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

At a press rundown, sports betting the business's representative, sports betting Akin Babatunde, sports betting said that the increase in Internet penetration, mobile usage, and sports betting the continent's deep passion for sports betting, specifically football, has actually set the stage for Sunbet's ambitious entry. He included that the firm's robust financial backing and specialist group will enable it to scale and dominate the market quickly.

Islamic police raid wagering stores in northern Nigeria

Islamic police in Nigeria's northern city of Kano have actually started closing down sports betting wagering stores, which they say are operating unlawfully.

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

Complaints from community leaders and parents prompted the crackdown, stressed over the growing variety of sports betting addicts, he stated.

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

But Mr Aminudeen alerted that now that the public knew that the Hisbah was clamping down on sports betting, those flouting the guidelines would be arrested.

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.

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

However, sports betting the existing crackdown is concentrated on Muslim locations of Kano, a sprawling city and the financial center of northern Nigeria.

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

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

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

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

Many individuals go to bookies to enjoy the friendship of other gamblers, though mobile apps are also popular for wagering on the result of events and groups.

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

But this had caused widespread addiction, and parents were even grumbling that children were leaving of school to gamble, Mr Aminudeen stated.

"These economic issues we are dealing with in Nigeria is God informing us to change our methods by stopping sins," he stated.

The raids on Tuesday concentrated 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 closed down or we'll detain them and take them to [a Sharia] court," Mr Aminudeen stated.

It is uncertain what penalty they would face - typically, such infringements carry a fine.

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