Betting Wars: Hisbah Police Crackdown Intensify as Tech Startup Confronts Nigeria’s Gaming Giants

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

Gambling has developed substantially in Nigeria from conventional kinds like pool staking and Baba Ijebu to a successful sports betting industry. Historically connected to European football leagues, pool staking was a typical sight at motor parks and kiosks, where lovers would bet just N50-N200 on matches.

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

Despite financial challenges such as inflation, Nigeria’s sports betting sector has flourished, drawing in millions, especially among the vibrant demographic dealing with high unemployment rates.

Reports indicate that approximately 60 million Nigerians aged 18-40 actively engage in sports betting, driving a market that generates a projected yearly profits of N730 billion. The federal government has actually not gone undetected by this development, which is considering regulative measures like excise tasks and VAT increases to manage the sector.

The National Lottery Act of 2005 recognized regulatory bodies like the National Lottery Regulatory Commission to ensure fair operations in spite of difficulties in enforcement. Problems such as insufficient age verification and advertising guideline breaches reveal industry regulative spaces.

Regardless of these difficulties, sports betting wagering business continue to grow through reliable business designs and aggressive marketing methods, leveraging the developer influencer market.

These efforts have actually added to Nigeria’s robust $2 billion gaming sector, sports betting with CEOs playing essential functions in broadening audience reach and sports betting driving industry development. Here are the CEOs of leading sports betting business who have actually considerably contributed to Nigeria’s $2 billion gaming empire through their comprehensive audience reach.

Sheriff Olaniyan – CEO Surebet247

Constable Olaniyan is the CEO of Surebet247, a sports betting book business he co-founded with Badmos Olasupo in 2011. His varied career covers numerous roles in the gaming and entertainment industry, consisting of operating at among the United Kingdom’s biggest gaming centres, 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, has turned into a leading e-commerce company in the sports betting and video gaming sector, operating through online, mobile, and retail channels. The company was incorporated in Nigeria on November 7, 2006, and has given that broadened its presence, accomplishing over 5,000 downloads on the Google Play Store.

Sam Sadi – CEO Livescorebet

Sam Sadi has more than 25 years of experience in wagering brand names and sports betting media. In 2019, he ended up being the CEO of LiveScore Group, a totally incorporated ecosystem that combines relevant sports betting content, engaging features, and a world-class sportsbook.

Since taking the helm just before the pandemic, Sam has driven considerable development for LiveScore Group. The company’s worker headcount has increased by 29%, and yearly revenue has surged from around ₤ 10 million to over ₤ 80 million.

Sam’s leadership and strategic vision have propelled LiveScore Group’s success and assisted shape the market’s instructions. LiveScoreBet has 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 functioned as the company’s Marketing and Operations Director since 2015. He signed up with Betway in 2013 and has been in the online video gaming market given that 2000, holding numerous effective roles, including General Manager of an information analytics group and Director of a digital marketing agency.

Under Werkman’s management, Betway has actually continued to grow its market presence and boost its offerings. The business’s app has actually 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 differentiated herself as a senior executive with a performance history of transforming start-ups into institutionalized businesses. Her knowledge spans the gaming, sports betting realty, and sports betting credit financing markets, where he has actually developed himself as a strategic and functional leader.

Damilare has actually been instrumental in NairaBET’s success for over 14 years. Since June 2019, sports betting she has worked as Managing Director and has managed 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 company’s operational techniques and market expansion.

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

Akin Alabi, the founder of NairaBET.com, sports betting Nigeria’s pioneering sports betting bookmaking company, established business in 2009. While NairaBET was not the first sports betting platform in Nigeria, it was the very first to introduce a totally functional website, setting a criteria 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 international sports betting wagering business based in Cyprus. 1XBET, founded in 2007 by the late Sergey Karshkov, has actually developed itself as one of the largest bookies in Europe and sports betting the world. The business operates in more than 50 countries, sports betting consisting of Nigeria, where it is totally accredited.

Under Babalola’s management, 1XBET Nigeria has actually broadened its footprint in the competitive Nigerian sports betting wagering market, using a wide variety of sports betting alternatives and sports betting 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 worked together with African socio-economic institutions and federal governments to design developmental policies targeted 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, 2018, by Byron Petzer and Adekunle Adeniji, operates under the brand name of Lake Ventures Ltd. This pan-African sports betting and entertainment company has actually rapidly grown its presence in Nigeria, with outlets in significant 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 variety of which is increasing annually. 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, sports betting the founder, majority investor, and joint Chief Executive of Bet365, an online sports betting company she developed in 2000. Bet365.com was launched in 2001 as an online sports betting website and has actually considering that become among the world’s biggest online gambling business.

By 2016, Bet365 created $2 billion in earnings and sports betting assisted in $45 billion in annual bets. The company likewise holds a bulk stake in Stoke City Football Club. Bet365 has actually garnered considerable user engagement, sports betting with over 1 million downloads on the Google Play Store.

Ayo Ojuroye – CEO/Cofounder Bet9ja

Ayo Ojuroye is the CEO and sports betting co-founder of Bet9ja, a leading sports betting company in Nigeria, established along with business owner 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 business that produces financial investment returns and uses distinct investment insights and options to both private and institutional clients.

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 leadership, Bet9ja has become a substantial gamer in the Nigerian sports betting industry.

Fikayo Ogunfuye – Country Director 22bet

Fikayo Ogunfuye is an experienced specialist in the sports betting wagering market. He has been acting as the Country Director for 22BET in Nigeria since June 2021. In this function, he has actually contributed to the business’s development through collaborations, business technique, and brand-new organization development.

Fikayo’s experience consists of roles such as Chief Operations Officer (West Africa) at 22BET, where he handled item advancement and customer experience, and Country Manager at 22BET, concentrating on marketing method 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, where he operated in SEO, 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, Benin Republic.

22Bet is an online gaming platform that offers sports betting wagering, gambling establishment video games, and live dealership video games. It was launched in 2017 and is owned and run by Marikit Holdings Ltd, a company registered 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, sports betting a company he developed in 2013.

SportyBet is a global sports betting and real-money gaming operator known for delivering an omni-channel entertainment experience in managed emerging markets. Under Ramnani’s management, SportyBet has actually become a substantial player in the industry, 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 sports betting mobile payments and a strong supporter for the growing African internet environment. His reflect his dedication to fostering 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 disrupt the sports betting market.

Sunbet Sporting International Limited has said it is concentrated on revolutionising how millions of Africans engage with sports betting. In an industry worth over $1.5 billion annual, with double-digit development forecast in the coming years, according to reports from the African Sports Betting Association and PwC, the firm intends to leverage cutting-edge innovation and a dedication to accountable sports betting to change the sector.

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

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

Islamic authorities raid betting shops in northern Nigeria

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

“As you understand, wagering is forbidden in Islam,” Mujahid Aminudeen, deputy chief of the Sharia police force, called the Hisbah, informed the BBC.

Problems from neighborhood leaders and moms and dads triggered 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 suburban area alone, and their owners were sent out home with a warning, the Sharia officer said.

But Mr Aminudeen cautioned that now that the public was aware that the Hisbah was clamping down on gambling, those flouting the guidelines would be jailed.

Kano city is the capital of Kano state, which has a bulk Muslim population and runs the Islamic legal system – Sharia – along with secular law.

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

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

sports betting wagering stores can be found all over the city. Most have television screens, and customers enjoy the result of global football matches or horse races on which they have actually staked cash.

Mr Aminudeen stated such bookmakers 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 computer game centres, which they later on transformed to wagering stores,” he stated.

The sports betting industry has actually broadened significantly across West Africa over the last few years. The area is roughly divided in between a generally Muslim north and a predominantly Christian south.

Lots of people go to bookmakers to delight in the sociability of other bettors, sports betting though mobile apps are also popular for wagering on the result of occasions and teams.

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

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

“These financial issues we are facing in Nigeria is God telling 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 encouraging those running those wagering stores to either shut down or we’ll arrest them and take them to [a Sharia] court,” Mr Aminudeen said.

It is uncertain what punishment they would deal with – frequently, 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 consumption of alcohol were banned.