Power Players And Prayer Police: The Fate Of Sports Betting In Nigeria

bet9ja.comMeet CEOs/MDs of business behind Nigeria's $2 billion Sports betting industry.


Gambling has progressed substantially in Nigeria from traditional kinds like pool staking and Baba Ijebu to a growing sports betting wagering industry. Historically tied to European football leagues, swimming pool staking was a common sight at motor parks and kiosks, where enthusiasts would bet as little as N50-N200 on matches.
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Gradually, with increased web gain access to came virtual sports betting, which parallels global trends. 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 financial challenges such as inflation, Nigeria's sports betting wagering sector has prospered, drawing in millions, especially among the younger market dealing with high unemployment rates.


Reports show that around 60 million Nigerians aged 18-40 actively take part in sports betting wagering, driving a market that creates an approximated annual profits of N730 billion. The federal government has not gone unnoticed by this growth, which is considering regulatory steps like import tax responsibilities and VAT boosts to manage the sector.


The National Lottery Act of 2005 recognized regulatory bodies like the National Lottery Regulatory Commission to guarantee reasonable operations despite challenges in enforcement. Issues such as insufficient age confirmation and advertising rule breaches show market regulatory gaps.


Regardless of these obstacles, sports betting companies continue to prosper through reliable company models and aggressive marketing methods, leveraging the creator influencer industry.


These efforts have added to Nigeria's robust $2 billion gaming sector, with CEOs playing important roles in expanding audience reach and driving market development. Here are the CEOs of leading sports betting wagering business who have actually significantly contributed to Nigeria's $2 billion gaming empire through their extensive audience reach.


Constable Olaniyan - CEO Surebet247

Sheriff Olaniyan is the CEO of Surebet247, a sports betting book company he co-founded with Badmos Olasupo in 2011. His varied profession covers different functions in the video gaming and entertainment industry, including operating at one of the United Kingdom's biggest 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 become a leading e-commerce company in the wagering and video gaming sector, operating through online, mobile, and retail channels. The business was incorporated in Nigeria on November 7, 2006, and has actually since expanded its presence, attaining 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 ended up being the CEO of LiveScore Group, a fully incorporated environment that sports betting content, engaging features, and a world-class sportsbook.


Given that taking the helm right before the pandemic, Sam has driven significant development for LiveScore Group. The business's employee headcount has actually increased by 29%, and yearly earnings has actually surged from roughly ₤ 10 million to over ₤ 80 million.


Sam's management and tactical vision have propelled LiveScore Group's success and helped shape the industry's direction. 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 appointed CEO of Betway in November 2017, having formerly served as the company's Marketing and Operations Director considering that 2015. He joined Betway in 2013 and has actually been in the online video gaming industry because 2000, holding various successful functions, consisting of General Manager of a data analytics team and Director of a digital marketing company.


Under Werkman's management, Betway has actually continued to grow its market existence and boost its offerings. The company's app has actually garnered considerable 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 track record of changing start-ups into institutionalized businesses. Her expertise covers the video gaming, real estate, and credit loaning markets, where he has actually developed himself as a tactical and functional leader.


Damilare has been instrumental in NairaBET's success for over 14 years. Given that June 2019, she has actually acted 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 company's functional strategies and market expansion.


She founded DearDammy Women's Initiative (DDWIN), a non-profit organization empowering women-owned businesses. DDWIN supplies frHer instructional background consists of 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, established business in 2009. While NairaBET was not the very first sports betting platform in Nigeria, it was the first to introduce a completely practical website, 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 worldwide sports betting wagering business based in Cyprus. 1XBET, founded in 2007 by the late Sergey Karshkov, has actually developed itself as one of the biggest bookmakers in Europe and the world. The company runs in more than 50 countries, consisting of Nigeria, where it is completely accredited.


Under Babalola's leadership, 1XBET Nigeria has actually expanded its footprint in the competitive Nigerian sports betting market, using a wide variety of sports betting choices 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, Managing Director of KingMakers, and Chairman of Vend Capital. In addition to leading these ventures, Ukanwoke has actually collaborated with African socio-economic organizations and federal governments to create developmental policies focused on 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 brand name of Lake Ventures Ltd. This pan-African sports betting and entertainment company has actually quickly 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 partnership with the Lagos Employment Trust Fund, developing over 100,000 tasks, the number of which is increasing each year. 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 founder, majority shareholder, and joint Chief Executive of Bet365, an online sports betting business she developed in 2000. Bet365.com was released in 2001 as an online wagering site and has actually because turned into one of the world's largest online gaming business.


By 2016, Bet365 created $2 billion in profits and facilitated $45 billion in annual bets. The company likewise holds a bulk stake in Stoke City Football Club. Bet365 has actually garnered 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 business in Nigeria, established together with business person 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 asset management company that produces investment returns and uses unique financial investment insights and services to both specific and institutional clients.


Founded in 2012 under KC Gaming Networks, Bet9ja has rapidly grown in popularity, with over 1 million downloads on the Google Play Store. Under Ojuroye's leadership, Bet9ja has actually ended up being a significant gamer 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 actually been working as the Country Director for 22BET in Nigeria because June 2021. In this function, he has actually added to the business's development through collaborations, company technique, and brand-new business advancement.


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


His career started at Jumia Group, where he worked in SEO, CRM, and content management. Fikayo likewise 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 gaming platform that provides sports betting wagering, gambling establishment games, and live dealer video games. It was launched in 2017 and is owned and run by Marikit Holdings Ltd, a business 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 business he developed in 2013.


SportyBet is a worldwide sports betting and real-money video gaming operator known for providing an omni-channel entertainment experience in controlled emerging markets. Under Ramnani's management, SportyBet has actually ended up being a considerable gamer 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 ecosystem. His financial investments show his dedication to fostering innovation and advancement within the area.


On April 30, 2024, Sudeep Ramnani purchased 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 changing how countless Africans engage with sports betting. In a market 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 company aims to utilize advanced innovation and a commitment to responsible sports betting to revolutionise the sector.


Backed by the financial power of four popular African billionaires, Sunbet, which will release in the first quarter of 2025, aims to be the continent's biggest and most innovative sports betting wagering platform.


At a press briefing, the company's spokesperson, Akin Babatunde, said that the rise in Internet penetration, mobile use, and the continent's deep enthusiasm for sports betting, specifically football, has set the stage for Sunbet's ambitious entry. He added that the company's robust sponsorship and sports betting professional team will enable it to scale and control the market quickly.




Islamic cops raid betting stores in northern Nigeria


Islamic cops in Nigeria's northern city of Kano have started shutting down sports betting wagering stores, which they say are running illegally.


"As you understand, 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 community leaders and moms and dads triggered the crackdown, worried about the growing number of gambling addicts, he stated.


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


However Mr Aminudeen alerted that now that the general public understood that the Hisbah was clamping down on gambling, 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 - together with secular law.


Bookmakers and bars tend to be allowed to operate in Kano's Christian areas, though they too can face action if the Hisbah believes Muslims are frequenting them.


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


Sports betting stores can be found all over the city. A lot of have television screens, and consumers view the outcome of worldwide football matches or horse races on which they have staked money.


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


"They don't 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 wagering industry has actually expanded dramatically throughout West Africa in 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 bookies to enjoy the sociability of other bettors, though mobile apps are also popular for sports betting on the result of occasions and groups.


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


But this had caused extensive addiction, and moms and dads were even grumbling that children were dropping out of school to bet, Mr Aminudeen said.


"These financial concerns we are dealing with in Nigeria is God informing us to change our methods by stopping sins," he stated.


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


"I am recommending those running those wagering stores to either closed down or we'll detain them and take them to [a Sharia] court," Mr Aminudeen stated.


It is uncertain what punishment they would face - frequently, such infringements bring a fine.


Sharia was introduced in Kano in 2000 - as it was in 11 other Muslim-majority northern states - and prostitution, gambling and the consumption of alcohol were banned.