Gaming Leaders Under Scrutiny: Fresh Player Enters as Northern Nigeria Tightens Betting Restrictions

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

Gambling has progressed considerably in Nigeria from traditional kinds like pool staking and Baba Ijebu to a successful sports betting wagering industry. Historically tied to European football leagues, pool staking was a common sight at motor parks and kiosks, where enthusiasts would wager as little as N50-N200 on matches.

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

In spite of economic challenges such as inflation, Nigeria’s sports betting sector sports betting has thrived, drawing in millions, particularly among the youthful demographic facing high joblessness rates.

show that around 60 million Nigerians aged 18-40 actively take part in sports betting wagering, driving an industry that generates an estimated yearly revenue of N730 billion. The federal government has actually not gone unnoticed by this growth, which is thinking about regulatory measures like import tax tasks and VAT increases to handle the sector.

The National Lottery Act of 2005 recognized regulatory bodies like the National Lottery Regulatory Commission to ensure reasonable operations despite difficulties in enforcement. Issues such as inadequate age confirmation and advertising guideline breaches show industry regulative spaces.

In spite of these obstacles, sports betting companies continue to grow through reliable organization designs and aggressive marketing strategies, sports betting leveraging the developer influencer market.

These efforts have added to Nigeria’s robust $2 billion gaming sector, sports betting with CEOs playing important functions in broadening audience reach and driving market growth. Here are the CEOs of leading sports betting wagering companies who have substantially added to Nigeria’s $2 billion sports betting empire through their substantial audience reach.

Sheriff 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 career covers numerous functions in the video gaming and show business, including working at one of the United Kingdom’s biggest gaming centres, The Palace Bingo Club, where he served as the Lead Engineer in a Bingo and sports betting 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 turned into a leading e-commerce organization in the sports betting and video gaming sector, running through online, mobile, and retail channels. The business was incorporated in Nigeria on November 7, 2006, sports betting and sports betting has because expanded its existence, attaining over 5,000 downloads on the Google Play Store.

Sam Sadi – CEO Livescorebet

Sam Sadi has over 25 years of experience in wagering brand names and sports betting media. In 2019, he ended up being the CEO of LiveScore Group, a fully incorporated ecosystem that combines relevant sports betting content, engaging functions, sports betting and a world-class sportsbook.

Given that taking the helm right before the pandemic, Sam has actually driven considerable development for LiveScore Group. The company’s employee headcount has increased by 29%, and sports betting annual income has actually surged from approximately ₤ 10 million to over ₤ 80 million.

Sam’s leadership and tactical vision have moved LiveScore Group’s success and assisted form the market’s instructions. LiveScoreBet has actually accomplished 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 formerly served as the business’s Marketing and Operations Director because 2015. He signed up with Betway in 2013 and has actually been in the online gaming industry considering that 2000, holding different effective functions, including General Manager of a data analytics group and Director sports betting of a digital marketing company.

Under Werkman’s management, sports betting Betway has actually continued to grow its market existence and enhance its offerings. The company’s app has amassed substantial 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 transforming start-ups into institutionalized businesses. Her know-how spans the video gaming, property, and credit loaning industries, where he has actually developed himself as a strategic and functional leader.

Damilare has been instrumental in NairaBET’s success for over 14 years. Because June 2019, sports betting she has worked as Managing Director and has actually supervised the business’s development and operations in Lagos, Nigeria.

Before this, she was the Chief Operating Officer from 2010 to June 2019, critical in the business’s operational strategies and market expansion.

She founded 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 sports betting of NairaBET.com, Nigeria’s pioneering sports betting bookmaking business, established business in 2009. While NairaBET was not the very first sports betting platform in Nigeria, sports betting it was the first to release a fully functional site, sports betting 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 international sports betting company based in Cyprus. 1XBET, founded in 2007 by the late Sergey Karshkov, has established itself as one of the biggest bookmakers in Europe and sports betting the world. The business operates in more than 50 countries, including Nigeria, where it is completely licensed.

Under Babalola’s leadership, 1XBET Nigeria has actually expanded its footprint in the competitive Nigerian sports betting wagering 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, sports betting Ukanwoke has worked together with African socio-economic organizations and governments to develop 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 sports betting Adekunle Adeniji, operates under the trademark name of Lake Ventures Ltd. This pan-African sports betting and home entertainment company 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 number of which is increasing annually. In the very 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 creator, bulk shareholder, and joint Chief Executive of Bet365, an online gambling business she developed in 2000. Bet365.com was released in 2001 as an online sports betting site and has actually considering that turned into one of the world’s biggest online sports betting business.

By 2016, Bet365 generated $2 billion in incomes and assisted in $45 billion in yearly bets. The business likewise holds a bulk stake in Stoke City Football Club. Bet365 has actually garnered significant 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, sports betting a leading sports betting wagering business in Nigeria, established along with business owner Kunle Soname, who also owns Portuguese club CD Feirense and Nigerian club Remo Stars.

Ojuroye is also the Chairman of Mango Asset Management, sports betting an independent Nigerian property management company that generates financial investment returns and provides distinct financial investment insights and sports betting services to both specific and institutional customers.

Founded in 2012 under KC Gaming Networks, Bet9ja has actually rapidly grown in appeal, with over 1 million downloads on the Google Play Store. Under Ojuroye’s management, Bet9ja has become a substantial gamer in the Nigerian sports betting industry.

Fikayo Ogunfuye – Country Director 22bet

Fikayo Ogunfuye is a seasoned specialist in the sports betting wagering market. He has actually been functioning as the Country Director for 22BET in Nigeria considering that June 2021. In this role, he has added to the business’s development through partnerships, company technique, and sports betting brand-new service advancement.

Fikayo’s experience includes functions such as Chief Operations Officer (West Africa) at 22BET, where he managed item advancement and client experience, and Country Manager at 22BET, concentrating on marketing technique and budget management. Before 22BET, he led marketing efforts at LuckyBet.NG and held various digital marketing functions at Laclic Services and sports betting Betty Bingo.

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

22Bet is an online sports betting platform that uses sports betting wagering, casino video games, and live dealer video games. It was introduced in 2017 and is owned and run 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 a worldwide sports betting and real-money video gaming operator sports betting known for sports betting delivering an omni-channel entertainment experience in regulated emerging markets. Under Ramnani’s leadership, SportyBet has ended up being a substantial 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 a strong advocate for the growing African internet environment. His investments show his dedication to promoting innovation and sports betting 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 interfere with the sports wagering industry.

Sunbet Sporting International Limited has stated it is concentrated on changing how millions of Africans engage with sports betting. In a market worth over $1.5 billion annual, with double-digit growth projection in the coming years, according to reports from the African Sports Betting Association and PwC, the company intends to take advantage of cutting-edge innovation and a dedication to responsible gambling to revolutionise the sector.

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

At a press instruction, the business’s representative, Akin Babatunde, stated that the rise in Internet penetration, mobile use, sports betting and sports betting the continent’s deep enthusiasm for sports betting, particularly football, has actually set the stage for Sunbet’s ambitious entry. He added that the firm’s robust sponsorship and specialist team will enable it to scale and dominate the marketplace rapidly.

Islamic cops raid betting shops in northern Nigeria

Islamic cops in Nigeria’s northern city of Kano have actually started shutting down sports betting shops, which they state are running unlawfully.

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

Complaints from neighborhood leaders and moms and dads prompted the crackdown, fretted about the growing number of gambling 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 warning, the Sharia officer stated.

But Mr Aminudeen warned that now that the public understood that the Hisbah was clamping down on sports betting, sports betting those flouting the guidelines would be detained.

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 permitted to operate in Kano’s Christian neighbourhoods, though they too can face action if the Hisbah thinks Muslims are frequenting them.

However, sports betting the current crackdown is concentrated on Muslim areas of Kano, a vast city and the economic center of northern Nigeria.

sports betting wagering stores can be discovered all over the city. The majority of have television screens, sports betting and consumers watch the outcome of international football matches or horse races on which they have actually staked cash.

Mr Aminudeen stated such bookies had actually had the ability to run under the radar as they had actually opened under false pretenses.

“They do not have licences to run as they were allowed to run computer game centres, which they later on transformed to wagering stores,” he said.

The sports betting wagering market has actually broadened considerably across West Africa over the last few years. The region is roughly divided in between a generally Muslim north and a predominantly Christian south.

Many individuals go to bookies to delight in the camaraderie of other bettors, though mobile apps are likewise popular for wagering on the result of occasions and teams.

Nigeria’s debilitating recession has actually likewise suggested individuals are willing to risk a percentage in the hope of winning huge.

But this had caused extensive dependency, and parents were even complaining that kids were leaving of school to bet, Mr Aminudeen said.

“These economic issues we are dealing with in Nigeria is God telling us to alter our methods by stopping sins,” he said.

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 wagering stores to either shut down or we’ll arrest them and take them to [a Sharia] court,” Mr Aminudeen said.

It is uncertain what penalty they would deal with – frequently, such infringements carry a fine.

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