Game Changers: How Religious Crackdowns and Digital Innovation are Transforming Nigeria’s Betting Scene

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

sports betting has developed considerably in Nigeria from standard kinds like pool staking and Baba Ijebu to a flourishing sports betting wagering market. Historically tied to European football leagues, pool staking was a common sight at motor parks and kiosks, where lovers would bet as little as N50-N200 on matches.

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

Despite economic obstacles such as inflation, Nigeria’s sports betting wagering sector has prospered, drawing in millions, especially among the younger demographic facing high unemployment rates.

Reports indicate that approximately 60 million Nigerians aged 18-40 actively take part in sports betting, driving an industry that generates a projected annual revenue of N730 billion. The federal government has not gone unnoticed by this development, which is thinking about regulatory steps like import tax tasks and sports betting VAT increases to manage the sector.

The National Lottery Act of 2005 recognized regulative bodies like the National Lottery Regulatory Commission to make sure reasonable operations in spite of challenges in enforcement. Issues such as insufficient age verification and marketing rule breaches reveal industry regulative spaces.

Despite these challenges, sports betting business continue to prosper through efficient company models and aggressive marketing techniques, leveraging the creator influencer market.

These efforts have added to Nigeria’s robust $2 billion gambling sector, with CEOs playing crucial functions in broadening audience reach and driving market growth. Here are the CEOs of leading sports betting companies who have significantly added to Nigeria’s $2 billion gaming empire through their comprehensive 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 career covers different roles in the gaming and show business, consisting of operating at among the United Kingdom’s largest video gaming centres, sports betting The Palace Bingo Club, where he served 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, sports betting has actually turned into a leading e-commerce business in the wagering and video gaming sector, operating through online, mobile, and retail channels. The company was integrated in Nigeria on November 7, 2006, and has actually given that broadened 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 wagering brands and sports betting media. In 2019, sports betting he ended up being the CEO of LiveScore Group, a completely integrated ecosystem that integrates relevant sports betting content, engaging features, and a world-class sportsbook.

Given that taking the helm right before the pandemic, Sam has actually driven considerable growth for LiveScore Group. The company’s staff member headcount has actually increased by 29%, and annual income has actually risen from around ₤ 10 million to over ₤ 80 million.

Sam’s leadership and strategic vision have moved LiveScore Group’s success and assisted form the industry’s direction. LiveScoreBet has accomplished major 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 formerly worked as the company’s Marketing and Operations Director given that 2015. He joined Betway in 2013 and has remained in the online video gaming industry since 2000, holding numerous effective functions, consisting of General Manager of an information analytics group and Director of a digital marketing company.

Under Werkman’s leadership, Betway has actually continued to grow its market existence and enhance its offerings. The business’s app has garnered 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 track record of transforming start-ups into institutionalized companies. Her know-how covers the video gaming, real estate, and credit financing markets, where he has actually developed himself as a strategic and operational leader.

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

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

She established DearDammy Women’s Initiative (DDWIN), sports betting a non-profit company empowering women-owned businesses. 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, the founder of NairaBET.com, sports betting Nigeria’s pioneering sports betting bookmaking company, developed business in 2009. While NairaBET was not the first sports betting wagering platform in Nigeria, it was the very first to introduce a fully practical site, setting a standard in the industry.

Femi Babalola- General Manager of 1Xbet Nigeria Limited

Femi Babalola is the Managing Director sports betting of 1XBET Nigeria Limited, a franchise of the worldwide sports betting wagering business 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 business operates in more than 50 nations, consisting of Nigeria, where it is completely certified.

Under Babalola’s management, 1XBET Nigeria has actually broadened its footprint in the competitive Nigerian sports betting market, sports betting using a wide range of wagering options and an easy to use 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, sports betting Managing Director of KingMakers, and Chairman of Vend Capital. In addition to leading these ventures, Ukanwoke has collaborated with African socio-economic organizations and federal governments to design 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 introduced in Nigeria on February 22, 2018, by Byron Petzer and Adekunle Adeniji, operates under the trademark name of Lake Ventures Ltd. This pan-African sports betting and home entertainment company has rapidly grown its presence in Nigeria, with outlets in major cities and over 500,000 downloads on the Google Play Store.

In 2020, BetKing entered into a collaboration with the Lagos Employment Trust Fund, producing over 100,000 tasks, the number of which is increasing yearly. 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 creator, bulk investor, sports betting and joint Chief Executive of Bet365, an online gambling business she established in 2000. Bet365.com was released in 2001 as an online wagering website and has actually given that turned into among the world’s biggest online sports betting business.

By 2016, sports betting Bet365 created $2 billion in incomes and assisted in $45 billion in yearly bets. The business likewise holds a bulk stake in Stoke City Football Club. Bet365 has gathered 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 businessman 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 investment returns and uses distinct investment insights and services to both individual and 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 considerable gamer in the Nigerian sports betting wagering market.

Fikayo Ogunfuye – Country Director 22bet

Fikayo Ogunfuye is a skilled specialist in the sports betting wagering market. He has been acting as the Country Director for 22BET in Nigeria since June 2021. In this role, he has actually added to the company’s growth through partnerships, business strategy, and sports betting new company advancement.

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

His profession began at Jumia Group, where he operated in SEO, CRM, and content management. Fikayo also functioned 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 uses sports betting wagering, casino games, and live dealership games. It was introduced in 2017 and sports betting 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 a chain of casinos worldwide.

Sudeep Ramnani– CEO Sportybet Group

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

SportyBet is an international sports betting and real-money video gaming operator understood for providing an omni-channel entertainment experience in regulated emerging markets. Under Ramnani’s management, SportyBet has actually ended up being a significant player in the industry, 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 supporter for the growing African web ecosystem. His investments show his dedication to fostering innovation and advancement within the area.

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

The company is set to interrupt the sports wagering market.

Sunbet Sporting International Limited has said it is concentrated on changing how countless Africans engage with sports betting. In an industry worth over $1.5 billion annual, with double-digit growth projection in the coming years, sports betting according to reports from the African Sports Betting Association and PwC, the company intends to leverage innovative innovation and a dedication to accountable gaming to revolutionise the sector.

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

At a press briefing, the company’s representative, Akin Babatunde, stated that the rise in Internet penetration, sports betting mobile use, and the enthusiasm for sports betting, specifically football, has set the stage for Sunbet’s enthusiastic entry. He added that the company’s robust financial backing and specialist team will allow it to scale and dominate the marketplace quickly.

Islamic authorities raid betting shops in northern Nigeria

Islamic police in Nigeria’s northern city of Kano have started closing down sports betting shops, which they state are operating unlawfully.

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

Complaints from neighborhood leaders and moms and dads prompted the crackdown, stressed over the growing variety of sports betting addicts, he said.

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

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

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

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

Nevertheless, the present crackdown is concentrated on Muslim areas of Kano, a vast city and the financial center of northern Nigeria.

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

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

“They do not have licences to operate as they were permitted to run computer game centres, which they later on transformed to sports betting stores,” he said.

The sports betting wagering market has actually expanded significantly across West Africa in the last few years. The region is approximately divided in between a generally Muslim north and a predominantly Christian south.

Many people go to bookmakers to enjoy the sociability of other gamblers, though mobile apps are likewise popular for sports betting on the outcome of occasions and teams.

Nigeria’s debilitating economic crisis has actually also indicated people are willing to risk a percentage in the hope of winning huge.

However this had led to extensive addiction, and moms and dads were even grumbling that kids were leaving of school to bet, sports betting Mr Aminudeen said.

“These financial problems we are facing in Nigeria is God informing us to change our methods by stopping sins,” he stated.

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

“I am recommending those running those wagering shops to either closed 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 – typically, such violations bring a fine.

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