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

Gaming has actually progressed considerably in Nigeria from traditional kinds like pool staking and Baba Ijebu to a flourishing sports betting market. Historically connected to European football leagues, sports betting swimming pool staking was a common sight at motor parks and kiosks, where lovers would wager as low as N50-N200 on matches.

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

Despite financial difficulties such as inflation, Nigeria's sports betting wagering sector has grown, drawing in millions, particularly among the youthful market dealing with high unemployment rates.

Reports suggest that around 60 million Nigerians aged 18-40 actively engage in sports betting wagering, driving an industry that creates an estimated yearly revenue of N730 billion. The federal government has actually not gone undetected by this development, which is considering regulative steps like import tax tasks and VAT boosts to manage the sector.

The National Lottery Act of 2005 established regulatory bodies like the National Lottery Regulatory Commission to make sure reasonable operations despite obstacles in enforcement. Problems such as inadequate age verification and marketing guideline breaches reveal market regulatory gaps.

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

These efforts have actually added to Nigeria's robust $2 billion gaming sector, with CEOs playing crucial roles in expanding audience reach and driving market growth. Here are the CEOs of leading sports betting companies who have actually considerably contributed to Nigeria's $2 billion sports betting empire through their substantial 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 diverse career covers various functions in the gaming and entertainment industry, consisting of operating at one of the United Kingdom's largest video gaming centres, The Palace Bingo Club, where he functioned as the Lead Engineer in a Bingo and 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 grown into a leading e-commerce business in the wagering and video gaming sector, operating through online, mobile, sports betting and retail channels. The business was integrated in Nigeria on November 7, 2006, and has since broadened its presence, accomplishing over 5,000 downloads on the Google Play Store.

Sam Sadi - CEO Livescorebet

Sam Sadi has over 25 years of experience in sports betting brands and sports betting media. In 2019, he became the CEO of LiveScore Group, a fully integrated ecosystem that integrates relevant sports betting material, engaging features, sports betting and a world-class sportsbook.

Because taking the helm right before the pandemic, Sam has actually driven substantial growth for LiveScore Group. The company's staff member headcount has increased by 29%, sports betting and annual profits has actually surged from approximately ₤ 10 million to over ₤ 80 million.

Sam's leadership and tactical vision have actually propelled LiveScore Group's success and sports betting assisted form the industry's instructions. LiveScoreBet has actually accomplished significant 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 formerly worked as the business's Marketing and Operations Director because 2015. He signed up with Betway in 2013 and has been in the online video gaming industry given that 2000, holding various successful roles, sports betting consisting of General Manager of an information analytics group and Director sports betting of a digital marketing firm.

Under Werkman's management, Betway has actually continued to grow its market presence and boost its offerings. The business's app has gathered significant 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 performance history of transforming start-ups into institutionalized services. Her proficiency covers the gaming, realty, and credit loaning industries, where he has actually established himself as a strategic and functional leader.

Damilare has contributed in NairaBET's success for over 14 years. Considering that June 2019, she has actually functioned as Managing Director and has actually overseen the company's growth and sports betting operations in Lagos, Nigeria.

Before this, sports betting she was the Chief Operating Officer from 2010 to June 2019, critical in the company's operational strategies and market growth.

She founded DearDammy Women's Initiative (DDWIN), a non-profit company empowering women-owned services. DDWIN supplies frHer educational background consists of 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 wagering platform in Nigeria, sports betting it was the first to introduce a completely 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, a franchise of the internationalsports betting wagering company based in Cyprus. 1XBET, sports betting 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, sports betting where it is completely certified.

Under Babalola's management, 1XBET Nigeria has actually broadened its footprint in the competitive Nigerian sports betting wagering market, providing a large range of wagering choices and sports betting 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 governments to create developmental policies aimed at empowering young people. In 2015, sports betting 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, operates under the brand name of Lake Ventures Ltd. This pan-African sports betting wagering and sports betting entertainment business has rapidly grown its presence 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, producing over 100,000 tasks, the variety of which is increasing annually. In the exact 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 investor, and joint Chief Executive of Bet365, an online gambling business she established in 2000. Bet365.com was introduced in 2001 as an online sports betting site and has actually since turned into among the world's biggest online sports betting business.

By 2016, Bet365 created $2 billion in profits and assisted in $45 billion in yearly bets. The company likewise holds a bulk stake in Stoke City Football Club. Bet365 has 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, sports betting a leading sports betting company in Nigeria, established along with 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 possession managementcompany that produces financial investment returns and sports betting uses special financial investment insights and options to both private and .

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

Fikayo Ogunfuye - Country Director 22bet

Fikayo Ogunfuye is a skilled professional in the sports bettingwagering market. He has actually been functioning as the Country Director for 22BET in Nigeria since June 2021. In this function, he has added to the company's development through partnerships, service method, sports betting and brand-new company development.

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

His career began at Jumia Group, where he worked in SEO, sports betting 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 sports betting Accounting from Ladoke Akintola University of Technology and a Master of Science (MS) in Business Administration, sports betting Management, and Operations from ESTG University in Cotonou, Benin Republic.

22Bet is an online sports betting platform that provides sports betting, casino video games, and live dealership games. It was launched in 2017 and is owned and run by Marikit Holdings Ltd, a business registered 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 business he developed in 2013.

SportyBet is a global sports betting wagering and real-money gaming operator understood for delivering an omni-channel entertainment experience in controlled emerging markets. Under Ramnani's leadership, SportyBet has ended up being a considerable gamer in the industry, with over 1 million downloads on the Google Play Store.

In addition to his function at SportyBet, Sudeep is an active investor in fintech and sports betting mobile payments and a strong supporter for the growing African web ecosystem. His investments reflect his commitment 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 interrupt the sports wagering industry.

Sunbet Sporting International Limited has said it is focused on changing how millions of Africans engage with sports betting. In an industry 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 take advantage of innovative innovation and sports betting a commitment to responsible gambling to change the sector.

Backed by the monetary power of 4 prominent African billionaires, Sunbet, which will launch 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 spokesperson, Akin Babatunde, stated that the increase in Internet penetration, mobile usage, and the continent's deep passion for sports betting, particularly football, has actually set the stage for Sunbet's ambitious entry. He added that the company's robust financial backing and sports betting expert team will enable it to scale and control the marketplace rapidly.

Islamic police raid wagering shops in northern Nigeria

Islamic police in Nigeria's northern city of Kano have actually begun shutting down sports betting stores, which they state are operating illegally.

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

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

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

However Mr Aminudeen cautioned that now that the public understood that the Hisbah was clamping down on gaming, those flouting the guidelines would be jailed.

Kano city is the capital of Kano state, which has a majority Muslim population and runs the Islamic legal system - Sharia - together with nonreligious law.

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

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

Sports betting stores can be found all over the city. Most have tv screens, and clients watch the result of international football matches or horse races on which they have actually staked cash.

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

"They don't have licences to run as they were allowed to run computer game centres, which they later on converted to sports betting shops," he stated.

The sports bettingwagering industry has actually broadened drastically throughout West Africa in recent years. The area is approximately divided between a primarily Muslim north and a primarily Christian south.

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

Nigeria's debilitating recession has actually likewise suggested individuals are willing to run the risk of a small amount in the hope of winning big.

But this had actually caused extensive addiction, and moms and dads were even complaining that children were leaving of school to gamble, sports betting Mr Aminudeen said.

"These economic concerns we are facing in Nigeria is God informing us to change our methods by stopping sins," he said.

The raids on Tuesday concentrated on Munjibir, sports betting considered a resort area in the northeast of the city-- visitors flock there at weekends.

"I am recommending those running those wagering stores to either shut down or we'll jail them and take them to [a Sharia] court," Mr Aminudeen stated.

It is uncertain what punishment they would deal with - frequently, such violations bring a fine.

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