Game Changers: How Religious Raids and Digital Innovation are Transforming Nigeria’s Betting Landscape

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

Gambling has actually developed substantially in Nigeria from traditional types like pool staking and Baba Ijebu to a successful sports betting market. Historically tied to European football leagues, sports betting pool staking was a typical sight at motor parks and kiosks, where lovers would bet as low as N50-N200 on matches.

Gradually, with increased web access came virtual wagering, which parallels international trends. The sports betting market is valued at $89.91 billion in 2023 and is forecasted to almost double to $182.02 billion by 2030.

In spite of economic obstacles such as inflation, Nigeria’s sports betting sector has actually thrived, attracting millions, sports betting particularly among the younger group facing high joblessness rates.

Reports show that approximately 60 million Nigerians aged 18-40 actively participate in sports betting, sports betting driving a market that creates an estimated annual revenue of N730 billion. The federal government has not gone undetected by this development, which is thinking about like excise tasks and VAT boosts to manage the sector.

The National Lottery Act of 2005 established regulative bodies like the National Lottery Regulatory Commission to ensure fair operations despite challenges in enforcement. Issues such as inadequate age verification and marketing guideline breaches reveal industry regulative spaces.

In spite of these obstacles, sports betting wagering business continue to grow through efficient organization models and aggressive marketing techniques, sports betting leveraging the creator influencer market.

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

Constable 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 career covers various 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 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, sports betting Wales. Surebet247, founded in August 2011, has actually grown into a leading e-commerce service in the wagering and video gaming sector, operating through online, mobile, and retail channels. The company was included in Nigeria on November 7, 2006, and has considering that expanded 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 brands and sports betting media. In 2019, he became the CEO of LiveScore Group, a fully integrated community that integrates pertinent sports betting content, engaging functions, and a first-rate sportsbook.

Considering that taking the helm prior to the pandemic, Sam has driven considerable development for LiveScore Group. The company’s worker headcount has increased by 29%, and annual earnings has risen from approximately ₤ 10 million to over ₤ 80 million.

Sam’s leadership and strategic vision have actually moved LiveScore Group’s success and helped shape 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 designated CEO of Betway in November 2017, having previously worked as the business’s Marketing and Operations Director because 2015. He signed up with Betway in 2013 and has actually been in the online video gaming market since 2000, holding different successful roles, consisting of General Manager of a data analytics team and Director of a digital marketing company.

Under Werkman’s management, Betway has continued to grow its market presence and sports betting enhance its offerings. The company’s app has 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 identified herself as a senior executive with a track record of transforming start-ups into institutionalized organizations. Her proficiency covers the video gaming, property, and credit financing industries, where he has actually established himself as a tactical and functional leader.

Damilare has actually contributed in NairaBET’s success for over 14 years. Because June 2019, she has acted as Managing Director and sports betting has actually managed the business’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 techniques and market expansion.

She established DearDammy Women’s Initiative (DDWIN), a non-profit organization empowering women-owned companies. DDWIN offers frHer academic background consists of 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 company, developed the business in 2009. While NairaBET was not the first sports betting wagering platform in Nigeria, it was the first to introduce a fully functional website, setting a standard in the market.

Femi Babalola- General Manager of 1Xbet Nigeria Limited

Femi Babalola is the Managing Director of 1XBET Nigeria Limited, sports betting a franchise of the global 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 business runs in more than 50 nations, including Nigeria, where it is completely accredited.

Under Babalola’s management, 1XBET Nigeria has actually broadened its footprint in the competitive Nigerian sports betting market, providing a wide range of sports betting alternatives and an user-friendly 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 endeavors, Ukanwoke has actually collaborated with African socio-economic organizations and 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 released in Nigeria on February 22, sports betting 2018, by Byron Petzer and Adekunle Adeniji, runs under the trademark name of Lake Ventures Ltd. This pan-African sports betting wagering and home entertainment company has actually rapidly grown its presence in Nigeria, with outlets in major cities and over 500,000 downloads on the Google Play Store.

In 2020, sports betting BetKing participated in a collaboration with the Lagos Employment Trust Fund, creating over 100,000 tasks, the variety of which is increasing yearly. In the same year, MultiChoice broadcaster purchased a 20% stake in BetKing, sports betting which was increased to 49% in 2021.

Denise Coates – CEO Bet 365

Denise Coates is a British billionaire businesswoman, the founder, bulk investor, and joint Chief Executive of Bet365, an online sports betting business she developed in 2000. Bet365.com was introduced in 2001 as an online wagering site and has because grown into one of the world’s biggest online sports betting companies.

By 2016, Bet365 produced $2 billion in revenues and assisted in $45 billion in annual bets. The company also holds a majority stake in Stoke City Football Club. Bet365 has actually 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 sports betting co-founder of Bet9ja, sports betting a leading sports betting wagering company in Nigeria, established along with business person Kunle Soname, sports betting 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 creates financial investment returns and offers unique financial investment insights and solutions to both specific and sports betting institutional customers.

Founded in 2012 under KC Gaming Networks, sports betting Bet9ja has quickly grown in popularity, with over 1 million downloads on the Google Play Store. Under Ojuroye’s management, Bet9ja has actually ended up being a considerable player in the Nigerian sports betting industry.

Fikayo Ogunfuye – Country Director 22bet

Fikayo Ogunfuye is a skilled expert in the sports betting wagering market. He has been acting as the Country Director for 22BET in Nigeria since June 2021. In this role, he has contributed to the business’s growth through partnerships, business strategy, and brand-new organization development.

Fikayo’s experience includes roles such as Chief Operations Officer (West Africa) at 22BET, where he handled product development and sports betting customer 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 various digital marketing roles at Laclic Services and Betty Bingo.

His career began 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 sports betting 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 games. It was released in 2017 and sports betting is owned and operated by Marikit Holdings Ltd, a company signed up in Cyprus and sports betting 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 an international sports betting wagering and real-money video gaming operator sports betting known for providing an omni-channel home entertainment experience in managed emerging markets. Under Ramnani’s management, SportyBet has actually become a significant player in the industry, with over 1 million downloads on the Google Play Store.

In addition to his role at SportyBet, Sudeep is an active financier in fintech and mobile payments and sports betting a strong advocate for the growing African internet community. His financial investments reflect his commitment to promoting development and development within the area.

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 interfere with the sports wagering market.

Sunbet Sporting International Limited has stated it is concentrated on changing how countless Africans engage with sports betting. In a market 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, sports betting the company intends to leverage advanced technology and a commitment to accountable gaming to change the sector.

Backed by the monetary power of 4 popular African billionaires, Sunbet, which will launch in the very first quarter of 2025, intends to be the continent’s biggest and most ingenious sports betting wagering platform.

At a press instruction, the company’s representative, Akin Babatunde, sports betting said that the rise in Internet penetration, mobile usage, and the continent’s deep enthusiasm for sports betting, specifically football, has actually set the stage for Sunbet’s enthusiastic entry. He added that the firm’s robust sponsorship and professional group will allow it to scale and sports betting dominate the marketplace quickly.

Islamic authorities raid betting shops in northern Nigeria

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

“As you know, wagering is forbidden in Islam,” Mujahid Aminudeen, deputy chief of the Sharia police force, referred to as the Hisbah, told the BBC.

Problems from neighborhood leaders and sports betting parents prompted the crackdown, stressed over the growing variety of sports betting addicts, he said.

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

But Mr Aminudeen alerted that now that the public knew that the Hisbah was clamping down on gaming, those flouting the rules would be detained.

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

Bookies 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.

However, the existing crackdown is focused on Muslim areas of Kano, a vast city and the financial hub of northern Nigeria.

Sports betting stores can be discovered all over the city. The majority of have tv screens, and consumers see the result of worldwide football matches or horse races on which they have staked money.

Mr Aminudeen said such bookmakers had had the ability 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 on converted to sports betting stores,” he stated.

The sports betting market has expanded drastically across West Africa over the last few years. The region is roughly divided between a primarily Muslim north and a predominantly Christian south.

Many people go to bookies to take pleasure in the camaraderie of other bettors, though mobile apps are likewise popular for wagering on the outcome of occasions and sports betting teams.

Nigeria’s debilitating economic crisis has actually likewise implied people are willing to risk a small amount in the hope of winning big.

But this had led to widespread dependency, sports betting and moms and dads were even grumbling that children were leaving of school to gamble, Mr Aminudeen stated.

“These financial issues we are dealing with in Nigeria is God telling us to change our ways 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 advising those running those wagering shops to either shut down or we’ll apprehend them and take them to [a Sharia] court,” Mr Aminudeen said.

It is uncertain what punishment they would face – often, such infringements carry a fine.

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