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

sports betting has actually evolved considerably in Nigeria from traditional types like pool staking and sports betting 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 enthusiasts would bet as low as N50-N200 on matches.

Slowly, with increased web access came virtual wagering, which parallels global trends. The sports betting market is valued at $BKSW.91 billion in 2023 and is forecasted to nearly double to $POWR.02 billion by 2030.

In spite of financial difficulties such as inflation, Nigeria's sports betting sector sports betting has thrived, drawing in millions, specifically amongst the youthful market facing high joblessness rates.

Reports indicate that approximately 60 million Nigerians aged 18-40 actively take part in sports betting, sports betting driving an industry that generates an approximated annual earnings of N730 billion. The federal government has actually not gone unnoticed by this growth, which is thinking about regulatory procedures like excise tasks and VAT boosts to manage the sector.

The National Lottery Act of 2005 recognized regulatory bodies like the National Lottery Regulatory Commission to make sure fair operations in spite of difficulties in enforcement. Issues such as inadequate age confirmation and sports betting marketing guideline breaches show industry regulative spaces.

In spite of these obstacles, sports betting business continue to grow through effective service designs and aggressive marketing strategies, leveraging the creator influencer industry.

These efforts have added to Nigeria's robust $2 billion gambling sector, with CEOs playing important functions in expanding audience reach and driving market growth. Here are the CEOs of leading sports betting wagering companies who have actually significantly added to Nigeria's $2 billion gambling empire through their substantial 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 numerous functions in the gaming and entertainment industry, including working at among the United Kingdom's largest video gaming centres, The Palace Bingo Club, where he acted 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, sports betting founded in August 2011, has actually turned into a leading e-commerce service in the wagering and gaming sector, running through online, mobile, and retail channels. The company was incorporated in Nigeria on November 7, sports betting 2006, and has since expanded its presence, achieving 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 brands and sports betting media. In 2019, sports betting he became the CEO of LiveScore Group, a fully integrated ecosystem that integrates relevant sports betting material, engaging features, and a world-class sportsbook.

Because taking the helm right before the pandemic, Sam has actually driven considerable development for LiveScore Group. The company's staff member headcount has actually increased by 29%, and yearly income has risen from roughly ₤ 10 million to over ₤ 80 million.

Sam's leadership and strategic vision have propelled LiveScore Group's success and helped form the industry's instructions. LiveScoreBet has attained 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 actually formerly worked as the company's Marketing and Operations Director considering that 2015. He signed up with Betway in 2013 and has actually been in the online gaming market because 2000, holding numerous effective roles, including 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 presence and enhance 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 differentiated herself as a senior executive with a performance history of changing start-ups into institutionalized services. Her competence spans the video gaming, real estate, and credit lending industries, where he has developed himself as a strategic and functional leader.

Damilare has been instrumental in NairaBET's success for over 14 years. Since June 2019, sports betting she has actually functioned as Managing Director and has supervised the business's development 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.

She established DearDammy Women's Initiative (DDWIN), a non-profit company empowering women-owned services. DDWIN provides 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, Nigeria's pioneering sports betting bookmaking company, sports betting established business in 2009. While NairaBET was not the very first sports betting wagering platform in Nigeria, it was the first to launch a fully functional site, 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 global sports betting wagering company based in Cyprus. 1XBET, founded in 2007 by the late Sergey Karshkov, has developed itself as one of the biggest bookies in Europe and the world. The business runs in more than 50 nations, including Nigeria, where it is completely licensed.

Under Babalola's leadership, 1XBET Nigeria has actually broadened its footprint in the competitive Nigerian sports betting market, offering a large range of sports betting alternatives 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 sports betting Chairman of Vend Capital. In addition to leading these ventures, Ukanwoke has actually collaborated 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, 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 wagering and entertainment business has quickly 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, developing over 100,000 jobs, the variety of which is increasing every year. 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, sports betting the creator, majority investor, and joint Chief Executive of Bet365, an online gaming company she established in 2000. Bet365.com was launched in 2001 as an online sports betting website and has considering that turned into one of the world's largest online gambling business.

By 2016, Bet365 created $2 billion in earnings and helped with $WOWS billion in annual bets. The company also holds a bulk stake in Stoke City Football Club. Bet365 has actually amassed considerable 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, developed alongside business owner Kunle Soname, who likewise owns Portuguese club CD Feirense and Nigerian club Remo Stars.

Ojuroye is likewise the Chairman of Mango Asset Management, an independent Nigerian property management business that generates investment returns and provides distinct financial investment insights and options to both specific and institutional customers.

Founded in 2012 under KC Gaming Networks, Bet9ja has rapidly grown in appeal, sports betting with over 1 million downloads on the Google Play Store. Under Ojuroye's leadership, Bet9ja has ended up being a significant player in the Nigerian sports betting wagering industry.

Fikayo Ogunfuye - Country Director 22bet

Fikayo Ogunfuye is a skilled professional in the sports betting market. He has been serving 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, business method, and new company development.

Fikayo's experience consists of roles such as Chief Operations Officer (West Africa) at 22BET, where he handled item advancement and consumer experience, and Country Manager at 22BET, concentrating on marketing strategy and spending plan management. Before 22BET, he led marketing efforts at LuckyBet.NG and held different digital marketing functions at Laclic Services and Betty Bingo.

His profession started at Jumia Group, where he operated in SEO, CRM, and content management. Fikayo likewise worked 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 sports betting Operations from ESTG University in Cotonou, Benin Republic.

22Bet is an online sports betting platform that offers sports betting wagering, casino games, and live dealer video games. It was launched in 2017 and is owned and operated 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 company he developed in 2013.

SportyBet is an international sports betting wagering and real-money video gaming operator known for providing an omni-channel entertainment experience in controlled emerging markets. Under Ramnani's leadership, sports betting SportyBet has actually ended up being a considerable player in the market, 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 advocate for the growing African internet environment. His investments show his dedication to fostering development and development within the region.

On April 30, 2024, Sudeep Ramnani bought 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 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 growth forecast in the coming years, according to reports from the African Sports Betting Association and PwC, the firm aims to utilize cutting-edge technology and a dedication to responsible gaming to change the sector.

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

At a press instruction, the business's representative, sports betting Akin Babatunde, said that the rise in Internet penetration, mobile usage, and the continent's deep passion for sports betting, specifically football, has actually set the stage for Sunbet's enthusiastic entry. He included that the firm's robust financial backing and sports betting specialist team will enable it to scale and control the market rapidly.

Islamic cops raid wagering shops in northern Nigeria

Islamic police in Nigeria's northern city of Kano have begun shutting down sports betting shops, which they state are running unlawfully.

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

Problems from community leaders and parents triggered the crackdown, fretted about the growing variety of gambling addicts, he said.

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

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

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

Bookies and bars tend to be enabled to operate in Kano's Christian neighbourhoods, though they too can face action if the Hisbah thinks Muslims are frequenting them.

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

sports betting wagering shops can be found all over the city. The majority of have tv screens, and clients see the result of worldwide 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 opened under false pretenses.

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

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

Many people go to bookmakers to enjoy the friendship of other bettors, sports betting though mobile apps are likewise popular for wagering on the result of events and teams.

Nigeria's crippling recession has also meant individuals are willing to risk a percentage in the hope of winning big.

But this had actually resulted in widespread dependency, and parents were even grumbling that kids were leaving of school to gamble, Mr Aminudeen stated.

"These financial issues we are dealing with in Nigeria is God telling us to alter our ways by stopping sins," he stated.

The raids on Tuesday concentrated 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 shops to either shut down or we'll detain them and take them to [a Sharia] court," Mr Aminudeen said.

It is unclear what penalty they would face - typically, sports betting such violations carry a fine.

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