Gaming Moguls Under Pressure: Fresh Player Enters as Northern Nigeria Intensifies Betting Controls

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

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

Slowly, sports betting with increased internet gain access to came virtual sports betting, which parallels global trends. The sports betting market is valued at $89.91 billion in 2023 and is predicted to almost double to $182.02 billion by 2030.

Despite economic obstacles such as inflation, Nigeria’s sports betting sector sports betting has actually thrived, attracting millions, specifically amongst the vibrant demographic facing high joblessness rates.

show that approximately 60 million Nigerians aged 18-40 actively engage in sports betting wagering, driving an industry that creates a projected yearly revenue of N730 billion. The federal government has not gone undetected by this growth, which is considering regulatory steps like excise tasks and VAT boosts to handle the sector.

The National Lottery Act of 2005 established regulative bodies like the National Lottery Regulatory Commission to guarantee reasonable operations despite challenges in enforcement. Problems such as inadequate age verification and marketing rule breaches reveal market regulative spaces.

Regardless of these challenges, sports betting companies continue to grow through reliable business models and aggressive marketing methods, leveraging the creator influencer market.

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

Constable Olaniyan – CEO Surebet247

Constable Olaniyan is the CEO of Surebet247, sports betting a sports betting book business he co-founded with Badmos Olasupo in 2011. His varied profession spans numerous functions in the video gaming and show business, sports betting consisting of working at among the United Kingdom’s largest video gaming centres, sports betting 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, operating through online, mobile, and retail channels. The company was incorporated in Nigeria on November 7, sports betting 2006, sports betting and has actually given that broadened its existence, sports betting attaining over 5,000 downloads on the Google Play Store.

Sam Sadi – CEO Livescorebet

Sam Sadi has over 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 totally incorporated ecosystem that integrates appropriate sports betting material, engaging features, and a first-rate sportsbook.

Because taking the helm prior to the pandemic, Sam has actually driven significant development for LiveScore Group. The business’s worker headcount has actually increased by 29%, sports betting and sports betting yearly income has risen from approximately ₤ 10 million to over ₤ 80 million.

Sam’s leadership and tactical vision have moved LiveScore Group’s success and helped shape the market’s instructions. LiveScoreBet has achieved significant user engagement, sports betting 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 previously acted as the company’s Marketing and Operations Director because 2015. He joined Betway in 2013 and has actually been in the online gaming industry given that 2000, holding different effective roles, including General Manager of a data analytics group and Director of a digital marketing agency.

Under Werkman’s management, Betway has continued to grow its market existence and improve its offerings. The company’s app has amassed substantial 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 changing start-ups into institutionalized organizations. Her expertise covers the video gaming, realty, and credit financing industries, where he has actually established himself as a strategic and sports betting operational leader.

Damilare has actually contributed in NairaBET’s success for over 14 years. Given that June 2019, she has acted as Managing Director and has supervised the company’s development and sports betting operations in Lagos, Nigeria.

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

She established DearDammy Women’s Initiative (DDWIN), a non-profit company empowering women-owned companies. DDWIN offers frHer academic background consists of 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 company, developed business in 2009. While NairaBET was not the very first sports betting platform in Nigeria, it was the first to introduce a totally practical 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 wagering 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 the world. The company runs in more than 50 countries, consisting of Nigeria, where it is totally certified.

Under Babalola’s leadership, 1XBET Nigeria has actually expanded its footprint in the competitive Nigerian sports betting wagering market, offering a wide variety of wagering choices and an user-friendly platform. The 1XBET app has more than 500,000 downloads on the Play Store.

Gossy Ukanwoke – CEO of Betking Nigeria

Gossy Ukanwoke is the CEO of BetKing, Managing Director of KingMakers, sports betting and Chairman of Vend Capital. In addition to leading these endeavors, Ukanwoke has teamed up with African socio-economic institutions and governments to develop developmental policies focused on 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 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 wagering and home entertainment business has 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, the number of which is increasing annually. In the very 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, 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 wagering website and has actually considering that grown into among the world’s largest online sports betting companies.

By 2016, Bet365 generated $2 billion in incomes and facilitated $45 billion in annual bets. The company likewise holds a majority stake in Stoke City Football Club. Bet365 has 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 company in Nigeria, established together with business owner 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 possession management business that creates financial investment returns and offers distinct investment insights and options to both specific and institutional clients.

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

Fikayo Ogunfuye – Country Director 22bet

Fikayo Ogunfuye is a seasoned specialist in the sports betting wagering industry. He has been acting as the Country Director for 22BET in Nigeria because June 2021. In this role, he has added to the business’s development through collaborations, business strategy, and brand-new company advancement.

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

His profession started at Jumia Group, sports betting where he operated 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 gambling platform that offers sports betting, casino games, and live dealer games. It was released in 2017 and is owned and operated by Marikit Holdings Ltd, a company registered in Cyprus and a subsidiary of Orakum N.V.. They are likewise 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, a company he established in 2013.

SportyBet is a worldwide sports betting and real-money gaming operator known for delivering an omni-channel entertainment experience in managed emerging markets. Under Ramnani’s leadership, sports betting 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 financier in fintech and mobile payments and a strong supporter for the growing African internet community. His investments show his commitment to fostering development and advancement within the area.

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

The firm is set to disrupt the sports wagering market.

Sunbet Sporting International Limited has stated it is concentrated on revolutionising how millions of Africans engage with sports betting. In an industry worth over $1.5 billion yearly, with double-digit growth forecast in the coming years, according to reports from the African Sports Betting Association and PwC, the firm aims to leverage cutting-edge technology and a commitment to responsible gambling to change the sector.

Backed by the monetary power of 4 prominent African billionaires, Sunbet, which will release in the very first quarter of 2025, intends to be the continent’s biggest and most innovative sports betting wagering platform.

At a press briefing, the business’s spokesperson, Akin Babatunde, stated that the increase in Internet penetration, mobile use, sports betting and the continent’s deep enthusiasm for sports betting, particularly football, has set the stage for Sunbet’s enthusiastic entry. He added that the company’s robust financial backing and expert group will allow it to scale and dominate the market rapidly.

Islamic authorities raid betting stores in northern Nigeria

Islamic cops in Nigeria’s northern city of Kano have started closing down sports betting wagering stores, which they say are running illegally.

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

Problems from community leaders and parents prompted the crackdown, fretted about the growing variety of gambling addicts, he said.

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

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

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

Bookies and sports betting bars tend to be permitted to operate in Kano’s Christian areas, though they too can face action if the Hisbah thinks Muslims are frequenting them.

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

sports betting wagering shops can be discovered all over the city. Many have television screens, and customers watch the outcome of global football matches or horse races on which they have staked money.

Mr Aminudeen stated such bookies had actually had the ability to operate under the radar as they had actually opened under false pretenses.

“They do not have licences to operate as they were allowed to run video games centres, which they later converted to wagering stores,” he stated.

The sports betting industry has broadened dramatically throughout West Africa in recent years. The region is roughly divided in between a mainly Muslim north and a mainly Christian south.

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

Nigeria’s crippling economic crisis has also indicated individuals are willing to risk a small amount in the hope of winning huge.

But this had resulted in widespread addiction, sports betting and moms and dads were even grumbling that children were dropping out of school to bet, Mr Aminudeen said.

“These economic problems we are facing in Nigeria is God telling us to change our ways by stopping sins,” he said.

The raids on Tuesday concentrated 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 arrest them and take them to [a Sharia] court,” Mr Aminudeen stated.

It is uncertain what penalty they would deal with – typically, such violations carry a fine.

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