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

Gaming has evolved substantially in Nigeria from traditional forms like pool staking and Baba Ijebu to a growing sports betting wagering market. Historically connected to European football leagues, pool staking was a typical sight at motor parks and kiosks, where lovers would bet as little as N50-N200 on matches.

Slowly, with increased internet gain access to came virtual wagering, which parallels international patterns. 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 economic obstacles such as inflation, Nigeria's sports betting sector has grown, bring in millions, particularly among the youthful demographic facing high joblessness rates.

Reports suggest that roughly 60 million Nigerians aged 18-40 actively take part in sports betting, driving a market that produces 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 duties 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 difficulties in enforcement. Problems such as insufficient age confirmation and advertising guideline breaches show industry regulative gaps.

In spite of these difficulties, sports betting wagering business continue to grow through efficient business designs and sports betting aggressive marketing strategies, leveraging the creator influencer market.

These efforts have actually contributed to Nigeria's robust $2 billion gaming sector, with CEOs playing essential roles in broadening audience reach and 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 substantial audience reach.

Sheriff 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 functions in the gaming and show business, including operating at among the United Kingdom's largest 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 a Master's in Geographical Information Systems from the University of Glamorgan, Wales. Surebet247, founded in August 2011, has actually become a leading e-commerce organization in the sports betting and gaming sector, operating through online, mobile, and sports betting retail channels. The business was integrated 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 sports betting brand names and sports betting media. In 2019, he became the CEO of LiveScore Group, a fully integrated ecosystem that integrates appropriate sports betting content, engaging features, and a first-rate sportsbook.

Considering that taking the helm prior to the pandemic, Sam has actually driven significant development for LiveScore Group. The company's employee headcount has actually increased by 29%, and yearly revenue has actually risen from approximately ₤ 10 million to over ₤ 80 million.

Sam's leadership and strategic vision have actually propelled LiveScore Group's success and assisted shape the market's direction. LiveScoreBet has attained major 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 actually formerly acted as the business's Marketing and Operations Director since 2015. He signed up with Betway in 2013 and sports betting has actually been in the online video gaming industry considering that 2000, holding various effective functions, consisting of General Manager of an information analytics team and Director of a digital marketing company.

Under Werkman's leadership, Betway has continued to grow its market existence and improve its offerings. The business's app has actually 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 distinguished herself as a senior sports betting executive with a performance history of transforming start-ups into institutionalized services. Her knowledge spans the gaming, property, sports betting and credit lending markets, where he has established himself as a strategic and functional leader.

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

Before this, sports betting she was the Chief Operating Officer from 2010 to June 2019, sports betting pivotal in the company's functional techniques and market expansion.

She founded DearDammy Women's Initiative (DDWIN), a non-profit organization empowering women-owned businesses. DDWIN offers frHer instructional 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, Nigeria's pioneering sports betting bookmaking company, established the business in 2009. While NairaBET was not the first sports betting wagering platform in Nigeria, it was the first to launch a totally practical website, setting a benchmark 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 global sports betting wagering business based in Cyprus. 1XBET, founded in 2007 by the late Sergey Karshkov, has developed itself as one of the biggest bookmakers in Europe and sports betting the world. The business operates in more than 50 countries, sports betting including Nigeria, where it is fully accredited.

Under Babalola's management, 1XBET Nigeria has broadened its footprint in the competitive Nigerian sports betting market, offering a vast array of sports betting options and 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 teamed up with African socio-economic institutions and governments to develop 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 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 home entertainment business has actually rapidly grown its existence in Nigeria, 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 yearly. 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, sports betting majority shareholder, and joint Chief Executive of Bet365, sports betting an online gaming company she established in 2000. Bet365.com was launched in 2001 as an online wagering site and has actually since turned into among the world's largest online sports betting companies.

By 2016, Bet365 produced $2 billion in earnings and helped with $45 billion in yearly bets. The business likewise holds a bulk stake in Stoke City Football Club. Bet365 has amassed 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 business in Nigeria, established together with businessman Kunle Soname, sports betting 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 creates investment returns and provides special investment insights and options to both private and institutional customers.

Founded in 2012 under KC Gaming Networks, Bet9ja has quickly 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 a seasoned professional in the sports betting wagering industry. He has been working as the Country Director for 22BET in Nigeria considering that June 2021. In this role, he has actually added to the company's growth through partnerships, company strategy, and sports betting new organization advancement.

Fikayo's experience consists of roles such as Chief Operations Officer (West Africa) at 22BET, where he handled item advancement and client experience, and Country Manager at 22BET, focusing on marketing strategy and spending plan management. Before 22BET, he led marketing efforts at LuckyBet.NG and held various 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 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 gaming platform that uses sports betting wagering, casino games, and live dealer video games. It was launched in 2017 and sports betting is owned and sports betting 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 casinos worldwide.

Sudeep Ramnani-- CEO Sportybet Group

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

SportyBet is a global sports betting and real-money gaming operator understood for providing an omni-channel entertainment experience in regulated emerging markets. Under Ramnani's leadership, SportyBet has 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 investor in fintech and mobile payments and sports betting a strong advocate for sports betting the growing African web community. His financial investments show his dedication to cultivating innovation and advancement within the region.

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

The firm is set to disrupt the sports wagering market.

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, sports betting according to reports from the African Sports Betting Association and PwC, the company aims to leverage innovative technology and a commitment to accountable sports betting to change the sector.

Backed by the financial power of four prominent African billionaires, Sunbet, sports betting which will launch in the very first quarter of 2025, intends to be the continent's biggest and most innovative sports betting platform.

At a press rundown, the company's representative, Akin Babatunde, stated that the increase in Internet penetration, mobile use, and the continent's deep passion for sports betting, sports betting specifically football, has actually set the stage for sports betting Sunbet's ambitious entry. He included that the company's robust financial backing and expert group will enable it to scale and control the market quickly.

Islamic cops raid wagering stores in northern Nigeria

Islamic authorities in Nigeria's northern city of Kano have begun shutting down sports betting wagering shops, which they say are operating unlawfully.

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

Complaints from community leaders and moms and dads triggered the crackdown, worried about the growing variety of sports betting addicts, he said.

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

But Mr Aminudeen alerted that now that the general public was aware that the Hisbah was clamping down on sports betting, those flouting the guidelines would be arrested.

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

Bookies and bars tend to be permitted to operate in Kano's Christian neighbourhoods, though they too can deal with action if the Hisbah believes Muslims are frequenting them.

Nevertheless, the current crackdown is focused on Muslim areas of Kano, a sprawling city and the financial hub of northern Nigeria.

sports betting wagering shops can be discovered all over the city. A lot of have tv screens, and consumers see the result of global football matches or horse races on which they have actually staked money.

Mr Aminudeen stated such bookmakers had actually been able to operate under the radar as they had opened under false pretenses.

"They do not have licences to run as they were allowed to run computer game centres, which they later transformed to sports betting stores," he said.

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

Many people go to bookies to enjoy the camaraderie of other bettors, though mobile apps are also popular for wagering on the result of events and groups.

Nigeria's debilitating recession has actually likewise meant people are willing to run the risk of a percentage in the hope of winning big.

However this had actually caused prevalent addiction, and moms and dads were even grumbling that kids were leaving of school to bet, Mr Aminudeen said.

"These economic issues we are dealing with in Nigeria is God informing us to change our ways by stopping sins," he said.

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

"I am recommending those running those sports betting shops to either closed down or we'll jail them and take them to [a Sharia] court," Mr Aminudeen said.

It is unclear 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, gaming and sports betting the usage of alcohol were banned.