Disrupting The House: Fresh Firm Confronts Status Quo As Religious Police Target Betting Shops

Meet CEOs/MDs of business behind Nigeria's $2 billion Sports betting industry.


Gaming has evolved considerably in Nigeria from traditional kinds like pool staking and Baba Ijebu to a growing sports betting wagering market. Historically tied to European football leagues, pool staking was a typical sight at motor parks and kiosks, where lovers would wager just N50-N200 on matches.


Gradually, with increased internet gain access to came virtual wagering, which parallels worldwide trends. The sports betting wagering 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 wagering sector has actually flourished, drawing in millions, especially among the younger demographic dealing with high joblessness rates.


Reports indicate that roughly 60 million Nigerians aged 18-40 actively engage in sports betting, driving a market that produces an estimated yearly profits of N730 billion. The federal government has not gone undetected by this development, which is considering regulative procedures like import tax duties and VAT increases to handle the sector.


The National Lottery Act of 2005 established regulatory bodies like the National Lottery Regulatory Commission to guarantee reasonable operations regardless of obstacles in enforcement. Problems such as insufficient age confirmation and marketing guideline breaches reveal market regulative spaces.


Despite these difficulties, sports betting companies continue to thrive through reliable business designs and aggressive marketing methods, leveraging the developer influencer market.


These efforts have contributed to Nigeria's robust $2 billion gambling sector, with CEOs playing crucial roles in broadening audience reach and driving industry growth. Here are the CEOs of leading sports betting wagering companies who have actually substantially added to Nigeria's $2 billion gaming empire through their comprehensive audience reach.


Sheriff Olaniyan - CEO Surebet247

Sheriff Olaniyan is the CEO of Surebet247, a sports betting book business he co-founded with Badmos Olasupo in 2011. His varied profession covers different functions in the video gaming and entertainment industry, consisting of working 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 actually become a leading e-commerce service in the sports betting and gaming sector, running through online, mobile, and retail channels. The company was included in Nigeria on November 7, 2006, and has given that expanded 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 brand names and sports betting media. In 2019, he became the CEO of LiveScore Group, a fully incorporated ecosystem that combines appropriate sports betting material, engaging functions, and a world-class sportsbook.


Considering that 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 actually surged from roughly ₤ 10 million to over ₤ 80 million.


Sam's leadership and tactical vision have actually propelled LiveScore Group's success and helped shape the market's direction. LiveScoreBet has accomplished significant 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 formerly served as the company's Marketing and Operations Director given that 2015. He signed up with Betway in 2013 and has remained in the online gaming market because 2000, holding different successful functions, consisting of General Manager of a data analytics group and Director of a digital marketing agency.


Under Werkman's leadership, Betway has actually continued to grow its market presence and boost 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 distinguished herself as a senior executive with a performance history of changing start-ups into institutionalized businesses. Her competence spans the gaming, real estate, and credit financing markets, where he has established himself as a strategic and operational leader.


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


Before this, she was the Chief Operating Officer from 2010 to June 2019, essential in the business's operational strategies and market expansion.
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She established DearDammy Women's Initiative (DDWIN), a non-profit organization empowering women-owned businesses. 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 creator of NairaBET.com, Nigeria's pioneering sports betting bookmaking business, established the business in 2009. While NairaBET was not the first sports betting wagering platform in Nigeria, it was the very first to launch a fully functional site, 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 worldwide sports betting company based in Cyprus. 1XBET, founded in 2007 by the late Sergey Karshkov, has actually established itself as one of the biggest bookmakers in Europe and the world. The company runs in more than 50 countries, including Nigeria, where it is totally accredited.


Under Babalola's management, 1XBET Nigeria has actually expanded its footprint in the competitive Nigerian sports betting wagering market, using a wide range of sports betting choices 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 endeavors, Ukanwoke has actually teamed up with African socio-economic institutions and governments to create 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 released 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 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 jobs, the variety of which is increasing annually. In the exact 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, majority shareholder, and joint Chief Executive of Bet365, an online gaming business she developed in 2000. Bet365.com was launched in 2001 as an online sports betting site and has actually since become one of the world's biggest online gambling business.


By 2016, Bet365 generated $2 billion in earnings and helped with $45 billion in annual bets. The business also holds a bulk stake in Stoke City Football Club. Bet365 has actually 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 business in Nigeria, established along with businessman 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 investment returns and uses special financial investment insights and services to both individual and institutional customers.


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 significant player in the Nigerian sports betting market.

Fikayo Ogunfuye - Country Director 22bet

Fikayo Ogunfuye is an experienced expert in the sports betting industry. He has been acting as the Country Director for 22BET in Nigeria given that June 2021. In this role, he has actually contributed to the business's growth through collaborations, organization method, and new service development.


Fikayo's experience includes functions such as Chief Operations Officer (West Africa) at 22BET, where he managed item development and consumer experience, and Country Manager at 22BET, focusing on marketing strategy and budget management. Before 22BET, he led marketing efforts at LuckyBet.NG and held numerous digital marketing functions at Laclic Services and Betty Bingo.


His profession began at Jumia Group, where he worked in SEO, CRM, and content management. Fikayo also served 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, casino video games, and live dealer video games. It was released 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, a company he developed in 2013.


SportyBet is a worldwide sports betting and real-money video gaming operator understood for delivering an omni-channel home entertainment experience in managed emerging markets. Under Ramnani's management, SportyBet has ended up being a significant 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 a strong advocate for the growing African web community. His investments reflect his dedication to cultivating development and development within the region.


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

The company is set to disrupt the sports wagering market.


Sunbet Sporting International Limited has stated it is focused on revolutionising how countless Africans engage with sports betting. In an industry worth over $1.5 billion annual, with double-digit development projection in the coming years, according to reports from the African Sports Betting Association and PwC, the company intends to leverage innovative innovation and a commitment to responsible sports betting to the sector.


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


At a press instruction, the company's representative, Akin Babatunde, stated that the rise in Internet penetration, mobile usage, and the continent's deep passion for sports betting, especially football, has set the stage for Sunbet's ambitious entry. He included that the company's robust sponsorship and expert group will allow it to scale and dominate the marketplace quickly.




Islamic authorities raid betting shops in northern Nigeria


Islamic authorities in Nigeria's northern city of Kano have actually started closing down sports betting stores, which they state are operating unlawfully.


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


Problems from community leaders and moms and dads triggered the crackdown, fretted about the growing number of sports betting addicts, he stated.


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


However Mr Aminudeen alerted that now that the general public knew that the Hisbah was clamping down on sports betting, those flouting the rules would be arrested.


Kano city is the capital of Kano state, which has a majority Muslim population and runs the Islamic legal system - Sharia - alongside secular 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 thinks Muslims are frequenting them.


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


sports betting wagering stores can be discovered all over the city. The majority of have tv screens, and consumers enjoy the outcome of global football matches or horse races on which they have actually staked money.


Mr Aminudeen said such bookies had been able to run under the radar as they had actually opened under false pretences.


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


The sports betting wagering market has expanded considerably throughout West Africa over the last few years. The region is roughly divided in between a mainly Muslim north and a mainly Christian south.


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


Nigeria's crippling economic crisis has actually likewise suggested individuals want to risk a small amount in the hope of winning big.


But this had resulted in prevalent dependency, and moms and dads were even grumbling that kids were dropping out of school to gamble, Mr Aminudeen stated.


"These financial issues we are dealing with in Nigeria is God informing us to alter our methods by stopping sins," he stated.
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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 closed down or we'll detain them and take them to [a Sharia] court," Mr Aminudeen said.


It is unclear what penalty they would deal with - typically, such infringements bring a fine.


Sharia was presented in Kano in 2000 - as it remained in 11 other Muslim-majority northern states - and prostitution, gaming and the intake of alcohol were prohibited.