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

Gambling has evolved significantly in Nigeria from conventional types like pool staking and sports betting Baba Ijebu to a successful sports betting industry. Historically tied to European football leagues, pool staking was a common sight at motor parks and kiosks, where lovers would wager as little as N50-N200 on matches.

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

In spite of financial challenges such as inflation, Nigeria's sports betting wagering sector sports betting has actually thrived, attracting millions, especially amongst the younger demographic facing high unemployment rates.

Reports indicate that roughly 60 million Nigerians aged 18-40 actively take part in sports betting wagering, driving an industry that produces a projected yearly profits of N730 billion. The federal government has actually not gone undetected by this growth, which is considering regulatory measures like import tax responsibilities and sports betting VAT boosts to manage the sector.

The National Lottery Act of 2005 recognized regulative bodies like the National Lottery Regulatory Commission to ensure reasonable operations despite obstacles in enforcement. Issues such as inadequate age verification and advertising guideline breaches reveal market regulative gaps.

In spite of these challenges, sports betting companies continue to prosper through reliable company models and aggressive marketing techniques, leveraging the creator influencer industry.

These efforts have actually contributed to Nigeria's robust $2 billion gaming sector, sports betting with CEOs playing important roles in expanding audience reach and driving industry development. Here are the CEOs of leading sports betting wagering companies who have substantially added to Nigeria's $2 billion gaming empire through their comprehensive audience reach.

Sheriff Olaniyan - CEO Surebet247

Sheriff Olaniyan is the CEO of Surebet247, sports betting a sports betting book company he co-founded with Badmos Olasupo in 2011. His diverse career covers different roles in the video gaming and entertainment industry, including working at one of 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 grown into a leading e-commerce organization in the sports betting and gaming sector, sports betting running through online, mobile, and retail channels. The company was integrated in Nigeria on November 7, 2006, and has given that expanded its existence, attaining 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 ended up being the CEO of LiveScore Group, a completely incorporated community that combines relevant sports betting material, sports betting engaging features, and sports betting a world-class sportsbook.

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

Sam's management and tactical vision have actually propelled LiveScore Group's success and helped shape the industry's direction. LiveScoreBet has attained major sports betting 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 actually formerly served as the company's Marketing and Operations Director considering that 2015. He joined Betway in 2013 and has actually been in the online gaming industry given that 2000, holding various successful roles, including General Manager of a data analytics team and Director of a digital marketing firm.

Under Werkman's management, sports betting Betway has actually continued to grow its market presence and enhance its offerings. The company's app has actually garnered substantial user engagement, 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 organizations. Her know-how covers the gaming, realty, and credit lending industries, where he has actually established himself as a tactical and operational leader.

Damilare has contributed in NairaBET's success for over 14 years. Given that June 2019, she has actually acted as Managing Director sports betting and has managed the company'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 functional methods and market growth.

She established DearDammy Women's Initiative (DDWIN), a non-profit organization empowering women-owned businesses. DDWIN supplies frHer instructional background consists of 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 business, developed the business in 2009. While NairaBET was not the first sports betting platform in Nigeria, it was the very first to release a totally practical site, sports betting setting a benchmark in the industry.

Femi Babalola- General Manager of 1Xbet Nigeria Limited

Femi Babalola is the Managing Director of 1XBET Nigeria Limited, sports betting a franchise of the worldwide sports betting company based in Cyprus. 1XBET, founded in 2007 by the late Sergey Karshkov, has established itself as one of the largest bookmakers in Europe and sports betting the world. The business operates in more than 50 nations, including Nigeria, sports betting where it is fully licensed.

Under Babalola's leadership, 1XBET Nigeria has actually broadened its footprint in the competitive Nigerian sports betting wagering market, providing a wide range 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 endeavors, Ukanwoke has actually teamed up with African socio-economic organizations and governments to create 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 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 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 entered into a collaboration with the Lagos Employment Trust Fund, creating over 100,000 jobs, the number of which is increasing yearly. In the exact 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, the creator, sports betting bulk shareholder, and joint Chief Executive of Bet365, an online sports betting company she established in 2000. Bet365.com was released in 2001 as an online sports betting website and sports betting has considering that become among the world's largest online gambling companies.

By 2016, Bet365 created $2 billion in profits and sports betting facilitated $45 billion in annual bets. The business likewise holds a majority stake in Stoke City Football Club. Bet365 has actually 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 entrepreneur 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 financial investment returns and offers unique investment insights and solutions to both individual 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 gamer 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 been working as the Country Director for 22BET in Nigeria given that June 2021. In this role, he has actually added to the business's growth through partnerships, sports betting organization strategy, and brand-new company advancement.

Fikayo's experience includes roles such as Chief Operations Officer (West Africa) at 22BET, where he handled item advancement and sports betting client experience, and Country Manager at 22BET, focusing on marketing method and budget plan management. Before 22BET, he led marketing efforts at LuckyBet.NG and held various digital marketing functions at Laclic Services and sports betting Betty Bingo.

His career started at Jumia Group, where he worked in SEO, CRM, and content management. Fikayo also 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 sports betting Operations from ESTG University in Cotonou, Benin Republic.

22Bet is an online sports betting platform that offers sports betting wagering, gambling establishment video games, and live dealership video games. It was released in 2017 and is owned and run by Marikit Holdings Ltd, a company signed up in Cyprus and a subsidiary of Orakum N.V.. They are also the owners of Betwinner and sports betting a chain of gambling establishments worldwide.

Sudeep Ramnani-- CEO Sportybet Group

Sudeep Ramnani is the Founder and CEO of SportyBet, sports betting a business he established in 2013.

SportyBet is an international sports betting and real-money video gaming operator sports betting understood for sports betting providing an omni-channel entertainment experience in controlled emerging markets. Under Ramnani's management, SportyBet has actually become a substantial gamer in the market, sports betting 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 advocate for the growing African web community. His investments reflect his dedication to cultivating innovation and development within the region.

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

The company is set to interfere with the sports wagering market.

Sunbet Sporting International Limited has said it is concentrated on revolutionising how millions of Africans engage with sports betting. In a market worth over $1.5 billion yearly, with double-digit development projection in the coming years, sports betting according to reports from the African Sports Betting Association and PwC, the company intends to leverage cutting-edge technology and a dedication to accountable gambling to change the sector.

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

At a press rundown, the company's representative, Akin Babatunde, stated that the increase in Internet penetration, mobile use, and sports betting the continent's deep passion for sports betting, sports betting specifically football, has actually set the stage for Sunbet's ambitious entry. He included that the firm's robust financial backing and professional team will allow it to scale and dominate the marketplace rapidly.

Islamic cops raid wagering stores in northern Nigeria

Islamic cops in Nigeria's northern city of Kano have started closing down sports betting wagering shops, sports betting which they state are running unlawfully.

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

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

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

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

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.

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

Nevertheless, the current crackdown is focused on Muslim locations of Kano, sports betting a sprawling city and the economic center of northern Nigeria.

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

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

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

The sports betting industry has expanded considerably across West Africa over the last few years. The region is roughly divided in between a mainly Muslim north and a predominantly Christian south.

Many individuals go to bookies to delight in the friendship of other gamblers, though mobile apps are likewise popular for wagering on the result of occasions and groups.

Nigeria's debilitating economic crisis has likewise meant individuals are willing to run the risk of a percentage in the hope of winning big.

But this had resulted in prevalent addiction, and parents were even grumbling that kids were dropping out of school to gamble, Mr Aminudeen said.

"These financial issues we are facing in Nigeria is God informing us to change our ways by stopping sins," he stated.

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

"I am encouraging those running those sports betting shops to either shut down or we'll arrest them and take them to [a Sharia] court," Mr Aminudeen said.

It is unclear what punishment they would face - frequently, such violations carry a fine.

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