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

Gaming has developed substantially in Nigeria from traditional types like pool staking and Baba Ijebu to a growing sports betting industry. Historically tied to European football leagues, pool staking was a typical sight at motor parks and sports betting kiosks, where lovers would wager as little as N50-N200 on matches.

Slowly, with increased web gain access to came virtual wagering, which parallels international 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.

Despite financial obstacles such as inflation, sports betting Nigeria's sports betting sector has actually prospered, attracting millions, especially amongst the younger demographic dealing with high joblessness rates.

Reports show that around 60 million Nigerians aged 18-40 actively participate in sports betting, driving a market that generates a projected annual earnings of N730 billion. The federal government has actually not gone undetected by this development, which is considering regulative measures like import tax duties and VAT increases to manage the sector.

The National Lottery Act of 2005 established regulatory bodies like the National Lottery Regulatory Commission to ensure fair operations despite obstacles in enforcement. Concerns such as inadequate age confirmation and marketing rule breaches show industry regulatory gaps.

Despite these difficulties, sports betting wagering companies continue to flourish through efficient service designs and aggressive marketing methods, leveraging the developer influencer industry.

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

Sheriff Olaniyan - CEO Surebet247

Sheriff Olaniyan is the CEO of Surebet247, a sports betting book company he co-founded with Badmos Olasupo in 2011. His varied career spans numerous roles in the video gaming and entertainment industry, consisting of working at one of the United Kingdom's biggest video gaming centres, The Palace Bingo Club, where he worked 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 company in the wagering and video gaming sector, operating through online, mobile, and retail channels. The company was incorporated in Nigeria on November 7, 2006, sports betting and has actually because broadened its existence, 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 sports betting brands and sports betting media. In 2019, he became the CEO of LiveScore Group, a completely incorporated environment that integrates pertinent sports betting material, engaging functions, and a first-rate sportsbook.

Since taking the helm just before the pandemic, Sam has actually driven significant growth for LiveScore Group. The business's worker headcount has increased by 29%, sports betting and annual profits has actually surged from approximately ₤ 10 million to over ₤ 80 million.

Sam's management and strategic vision have actually moved LiveScore Group's success and assisted shape the industry's direction. LiveScoreBet has actually 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 actually previously served as the company's Marketing and Operations Director considering that 2015. He signed up with Betway in 2013 and has actually been in the online video gaming industry since 2000, holding different successful roles, including General Manager of a data analytics team and Director of a digital marketing company.

Under Werkman's management, Betway has continued to grow its market presence and boost its offerings. The company's app has actually amassed significant user engagement, with over 100,000 downloads on the Google Play Store.

Damilare Alabi, Co-Founder, Managing Director NairaBET

Damilare Alabi has actually differentiated herself as a senior executive with a track record of transforming start-ups into institutionalized services. Her proficiency spans the gaming, property, and credit loaning industries, where he has established himself as a strategic and operational leader.

Damilare has been instrumental in NairaBET's success for over 14 years. Considering that June 2019, she has actually acted as Managing Director and has actually overseen the company's development and operations in Lagos, Nigeria.

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

She established DearDammy Women's Initiative (DDWIN), a non-profit company empowering women-owned businesses. DDWIN supplies frHer academic 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, Nigeria's pioneering sports betting bookmaking company, established the business in 2009. While NairaBET was not the first sports betting platform in Nigeria, it was the first to launch a fully functional website, setting a standard 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, sports betting has actually established itself as one of the biggest bookmakers in Europe and the world. The business runs in more than 50 nations, consisting of Nigeria, where it is totally accredited.

Under Babalola's leadership, 1XBET Nigeria has broadened its footprint in the competitive Nigerian sports betting wagering market, providing a vast array of wagering options 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 ventures, Ukanwoke has actually worked together with African socio-economic institutions and federal governments to design developmental policies focused on empowering young people. In 2015, Ernst & Young honoured him as the Winner of the Accelerating Category-- World Entrepreneur of the Year.

BetKing, established and launched in Nigeria on February 22, 2018, by Byron Petzer and Adekunle Adeniji, runs under the trademark name of Lake Ventures Ltd. This pan-African sports betting and entertainment business has rapidly grown its existence in Nigeria, sports betting 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, producing 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, sports betting an online gaming business she developed in 2000. Bet365.com was introduced in 2001 as an online wagering website and has because become one of the world's largest online gaming companies.

By 2016, Bet365 created $2 billion in profits and facilitated $45 billion in annual bets. The business also holds a bulk stake in Stoke City Football Club. Bet365 has gathered 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 company in Nigeria, sports betting developed alongside entrepreneur Kunle Soname, who also owns Portuguese club CD Feirense and Nigerian club Remo Stars.

Ojuroye is also the Chairman of Mango Asset Management, an independent Nigerian asset management company that produces financial investment returns and provides distinct financial investment insights and services to both specific and sports betting institutional clients.

Founded in 2012 under KC Gaming Networks, Bet9ja has quickly grown in appeal, with over 1 million downloads on the Google Play Store. Under Ojuroye's management, Bet9ja has actually become a significant gamer in the Nigerian sports betting industry.

Fikayo Ogunfuye - Country Director 22bet

Fikayo Ogunfuye is a skilled professional in the sports betting wagering market. He has actually been acting as the Country Director for 22BET in Nigeria because June 2021. In this function, he has contributed to the business's development through partnerships, company strategy, and brand-new service development.

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

His career began at Jumia Group, where he worked in SEO, sports betting CRM, and content management. Fikayo likewise acted 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, sports betting Benin Republic.

22Bet is an online sports betting platform that provides sports betting wagering, casino games, and live dealer video games. It was released in 2017 and is owned and operated by Marikit Holdings Ltd, a company signed up in Cyprus and sports betting 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 sports betting CEO of SportyBet, a company he developed in 2013.

SportyBet is a worldwide sports betting and real-money video gaming operator known for providing an omni-channel home entertainment experience in managed emerging markets. Under Ramnani's leadership, SportyBet has become a considerable 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 sports betting the growing African internet ecosystem. His financial investments reflect his commitment to cultivating development and development within the area.

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

The firm is set to interfere with the sports wagering industry.

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 yearly, sports betting with double-digit development forecast in the coming years, according to reports from the African Sports Betting Association and PwC, the firm intends to take advantage of innovative technology and a commitment to accountable sports betting to change the sector.

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

At a press instruction, the company's representative, Akin Babatunde, stated that the increase in Internet penetration, sports betting mobile usage, and sports betting the continent's deep passion 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 team will allow it to scale and control the market quickly.

Islamic police raid wagering shops in northern Nigeria

Islamic cops in Nigeria's northern city of Kano have actually begun closing down sports betting stores, which they say are running illegally.

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

Problems from community leaders and parents prompted the crackdown, sports betting worried about the growing number of gambling addicts, he stated.

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

But Mr Aminudeen warned that now that the public understood that the Hisbah was clamping down on gambling, those flouting the guidelines would be detained.

Kano city is the capital of Kano state, which has a bulk Muslim population and sports betting operates the Islamic legal system - Sharia - alongside secular law.

Bookmakers and 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 existing crackdown is focused on Muslim locations of Kano, sports betting a vast city and the financial center of northern Nigeria.

Sports betting shops can be discovered all over the city. Most have television screens, and sports betting consumers see the outcome of international football matches or horse races on which they have 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 computer game centres, which they later transformed to sports betting shops," he stated.

The sports betting market has actually broadened significantly throughout West Africa over the last few years. The area is roughly divided between a primarily Muslim north and a mainly Christian south.

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

Nigeria's crippling recession has likewise indicated individuals are willing to run the risk of a percentage in the hope of winning huge.

However this had resulted in prevalent addiction, and parents were even complaining that kids were leaving of school to bet, Mr Aminudeen stated.

"These economic concerns we are facing 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 advising those running those sports betting stores to either shut down or we'll jail them and take them to [a Sharia] court," Mr Aminudeen said.

It is unclear what punishment 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 sports betting prostitution, sports betting and the intake of alcohol were prohibited.