Gaming Leaders Under Scrutiny: Fresh Player Emerges as Northern Nigeria Intensifies Betting Restrictions

Meet CEOs/MDs of companies behind Nigeria’s $2 billion Sports wagering industry.

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

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

Regardless of economic challenges such as inflation, Nigeria’s sports betting wagering sector sports betting has actually grown, sports betting attracting millions, particularly among the vibrant demographic facing high joblessness rates.

Reports suggest that around 60 million Nigerians aged 18-40 actively engage in sports betting, sports betting driving an industry that generates an approximated annual revenue of N730 billion. The federal government has actually not gone unnoticed by this development, which is considering regulative procedures like excise responsibilities and VAT boosts to handle the sector.

The National Lottery Act of 2005 established regulative bodies like the National Lottery Regulatory Commission to make sure reasonable operations in spite of challenges in enforcement. Problems such as inadequate age confirmation and advertising rule breaches reveal market regulative spaces.

Despite these difficulties, sports betting wagering business continue to grow through efficient service designs and aggressive marketing techniques, sports betting leveraging the developer influencer market.

These efforts have added to Nigeria’s robust $2 billion gambling sector, with CEOs playing crucial roles in broadening audience reach and driving market . Here are the CEOs of leading sports betting business who have actually significantly added to Nigeria’s $2 billion gambling empire through their substantial 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 diverse career covers various roles in the gaming and entertainment industry, sports betting including operating at among the United Kingdom’s biggest gaming centres, The Palace Bingo Club, where he functioned as the Lead Engineer in a Bingo and sports betting Bowling Club.

Olaniyan holds a BSc in Geography from the University of Ilorin and sports betting a Master’s in Geographical Information Systems from the University of Glamorgan, Wales. Surebet247, founded in August 2011, has become a leading e-commerce business in the sports betting and gaming sector, operating through online, mobile, sports betting and retail channels. The company was incorporated in Nigeria on November 7, 2006, sports betting and has actually given that broadened 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 sports betting brand names and sports betting media. In 2019, he ended up being the CEO of LiveScore Group, sports betting a totally integrated environment that combines appropriate sports betting content, engaging features, sports betting and a world-class sportsbook.

Considering that taking the helm just before the pandemic, Sam has driven substantial growth for LiveScore Group. The company’s employee headcount has increased by 29%, and annual income has risen from roughly ₤ 10 million to over ₤ 80 million.

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

Under Werkman’s management, sports betting Betway has continued to grow its market presence and enhance its offerings. The company’s app has amassed significant user engagement, sports betting 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 services. Her competence covers the video gaming, sports betting realty, and credit financing industries, where he has developed himself as a strategic and functional leader.

Damilare has actually been instrumental in NairaBET’s success for over 14 years. Because June 2019, sports betting she has actually acted as Managing Director and sports betting has overseen the business’s development and operations in Lagos, Nigeria.

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

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

Akin Alabi, sports betting 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 platform in Nigeria, it was the first to introduce a completely functional site, 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 worldwide sports betting company 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 countries, consisting of Nigeria, where it is fully licensed.

Under Babalola’s leadership, 1XBET Nigeria has actually broadened its footprint in the competitive Nigerian sports betting market, using a large range of sports betting choices 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, Managing Director of KingMakers, and Chairman of Vend Capital. In addition to leading these endeavors, Ukanwoke has actually collaborated with African socio-economic institutions and sports betting 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, founded and introduced in Nigeria on February 22, sports betting 2018, by Byron Petzer and Adekunle Adeniji, operates under the trademark name of Lake Ventures Ltd. This pan-African sports betting wagering and sports betting 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 participated in a partnership with the Lagos Employment Trust Fund, creating over 100,000 jobs, 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, the founder, sports betting bulk investor, and joint Chief Executive of Bet365, an online gaming business she established in 2000. Bet365.com was launched in 2001 as an online wagering site and has actually because grown into one of the world’s biggest online gaming business.

By 2016, Bet365 produced $2 billion in earnings and helped with $45 billion in annual bets. The company likewise holds a bulk 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 co-founder of Bet9ja, a leading sports betting company in Nigeria, established alongside business person 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 property management company that generates financial investment returns and uses special financial investment insights and solutions to both individual and institutional customers.

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

Fikayo Ogunfuye – Country Director 22bet

Fikayo Ogunfuye is a seasoned specialist in the sports betting wagering industry. He has been working as the Country Director for 22BET in Nigeria since June 2021. In this function, he has contributed to the business’s growth through collaborations, business technique, and brand-new business advancement.

Fikayo’s experience includes functions such as Chief Operations Officer (West Africa) at 22BET, where he managed item advancement and consumer experience, and Country Manager at 22BET, concentrating on marketing method and spending plan management. Before 22BET, he led marketing efforts at LuckyBet.NG and held numerous digital marketing functions at Laclic Services and Betty Bingo.

His career started at Jumia Group, where he operated in SEO, CRM, 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, sports betting casino video games, and live dealership video games. It was launched in 2017 and is owned and operated 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 a chain of gambling establishments worldwide.

Sudeep Ramnani– CEO Sportybet Group

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

SportyBet is a worldwide sports betting wagering and real-money video gaming operator known for providing an omni-channel home entertainment experience in controlled emerging markets. Under Ramnani’s management, SportyBet has 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 sports betting in fintech and mobile payments and a strong supporter for the growing African internet community. His investments show his commitment to cultivating innovation and development 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 interrupt the sports wagering industry.

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 forecast in the coming years, according to reports from the African Sports Betting Association and PwC, the firm intends to utilize cutting-edge innovation and a commitment to responsible gambling to revolutionise the sector.

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

At a press briefing, the business’s representative, Akin Babatunde, stated that the increase in Internet penetration, mobile use, and sports betting the continent’s deep passion for sports betting, especially football, sports betting has set the stage for Sunbet’s ambitious entry. He included that the company’s robust financial backing and expert team will enable it to scale and control the marketplace quickly.

Islamic authorities raid wagering shops in northern Nigeria

Islamic authorities in Nigeria’s northern city of Kano have begun closing down sports betting wagering shops, sports betting which they state are running unlawfully.

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

Grievances from community leaders and parents prompted the crackdown, fretted about the growing number of gambling addicts, he stated.

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 cautioned that now that the public understood that the Hisbah was clamping down on sports betting, those flouting the guidelines would be jailed.

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

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

However, the present crackdown is concentrated on Muslim areas of Kano, a sprawling city and the economic hub of northern Nigeria.

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

Mr Aminudeen said such bookmakers had had the ability to run under the radar as they had actually opened under false pretences.

“They don’t have licences to run as they were permitted to run video games centres, which they later converted to wagering shops,” he stated.

The sports betting market has broadened considerably throughout West Africa recently. The region is approximately divided between a mainly Muslim north and a mainly Christian south.

Many people go to bookies to delight in the sociability of other bettors, though mobile apps are also popular for sports betting on the outcome of events and groups.

Nigeria’s debilitating recession has actually also meant individuals want to run the risk of a percentage in the hope of winning big.

But this had actually resulted in prevalent dependency, and sports betting moms and dads were even grumbling that kids were dropping out of school to gamble, Mr Aminudeen said.

“These financial concerns we are dealing with in Nigeria is God informing us to alter 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 stores to either shut down or we’ll arrest them and take them to [a Sharia] court,” Mr Aminudeen stated.

It is unclear what penalty they would face – typically, such violations carry a fine.

Sharia was presented in Kano in 2000 – as it remained in 11 other Muslim-majority northern states – and prostitution, gambling and the usage of alcohol were banned.