Exploring Nigeria s Gaming Revolution: Leaders Challengers And Religious Clashes

Meet CEOs/MDs of companies behind Nigeria's $2 billion Sports betting market.


Gambling has actually progressed significantly in Nigeria from standard forms like pool staking and Baba Ijebu to a successful sports betting wagering market. Historically tied to European football leagues, swimming pool staking was a common sight at motor parks and kiosks, where enthusiasts would bet as low as N50-N200 on matches.


Slowly, with increased web gain access to came virtual sports betting, which parallels international trends. The sports betting market is valued at $89.91 billion in 2023 and is predicted to nearly double to $182.02 billion by 2030.
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Despite economic challenges such as inflation, Nigeria's sports betting sector has actually grown, drawing in millions, specifically amongst the vibrant market dealing with high joblessness rates.


Reports show that around 60 million Nigerians aged 18-40 actively take part in sports betting, driving a market that produces a projected annual revenue of N730 billion. The federal government has actually not gone unnoticed by this growth, which is thinking about regulative procedures like excise tasks and VAT increases to manage the sector.


The National Lottery Act of 2005 recognized regulatory bodies like the National Lottery Regulatory Commission to ensure fair operations in spite of difficulties in enforcement. Problems such as insufficient age verification and marketing rule breaches show industry regulative spaces.


Despite these challenges, sports betting companies continue to grow through effective business designs and aggressive marketing techniques, leveraging the creator influencer market.


These efforts have actually added to Nigeria's robust $2 billion sports betting sector, with CEOs playing essential roles in broadening audience reach and driving market growth. Here are the CEOs of leading sports betting business who have actually considerably added to Nigeria's $2 billion gambling 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 profession spans various roles in the video gaming and entertainment industry, including working at among 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 actually grown into a leading e-commerce company in the sports betting and video gaming sector, operating through online, mobile, and retail channels. The company was incorporated in Nigeria on November 7, 2006, and has because expanded its presence, achieving over 5,000 downloads on the Google Play Store.

Sam Sadi - CEO Livescorebet

Sam Sadi has over 25 years of experience in sports betting brands and sports betting media. In 2019, he ended up being the CEO of LiveScore Group, a totally integrated environment that integrates relevant sports betting content, engaging functions, and a first-rate sportsbook.


Considering that taking the helm just before the pandemic, Sam has driven considerable development for LiveScore Group. The business's staff member headcount has actually increased by 29%, and annual revenue has risen from around ₤ 10 million to over ₤ 80 million.


Sam's management and strategic vision have propelled LiveScore Group's success and assisted shape the industry's instructions. LiveScoreBet has attained major 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 formerly acted as the business's Marketing and Operations Director since 2015. He joined Betway in 2013 and has actually been in the online gaming industry since 2000, holding various effective functions, including 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 improve its offerings. The company's app has amassed 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 organizations. Her knowledge spans the video gaming, realty, and credit financing markets, where he has established himself as a tactical and operational leader.


Damilare has contributed in NairaBET's success for over 14 years. Since June 2019, she has worked as Managing Director and has actually supervised 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 methods and market growth.


She founded DearDammy Women's Initiative (DDWIN), a non-profit organization empowering women-owned companies. DDWIN supplies frHer instructional 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, developed business in 2009. While NairaBET was not the very first sports betting platform in Nigeria, it was the very first to launch a fully practical website, 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 developed itself as one of the largest bookmakers in Europe and the world. The business runs in more than 50 countries, including Nigeria, where it is fully accredited.


Under Babalola's management, 1XBET Nigeria has actually expanded its footprint in the competitive Nigerian sports betting market, offering a vast array 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, sports betting Managing Director of KingMakers, and Chairman of Vend Capital. In addition to leading these ventures, Ukanwoke has actually collaborated with African socio-economic institutions and federal governments to create developmental policies aimed at empowering young people. In 2015, Ernst & & Young honoured him as the Winner of the Accelerating Category-- World Entrepreneur of the Year.


BetKing, founded and launched 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 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 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, bulk shareholder, and joint Chief Executive of Bet365, an online sports betting business she developed in 2000. Bet365.com was launched in 2001 as an online sports betting site and has actually since become among the world's biggest online sports betting business.


By 2016, Bet365 generated $2 billion in revenues and helped with $45 billion in annual bets. The company likewise holds a bulk stake in Stoke City Football Club. Bet365 has actually garnered 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 company in Nigeria, developed together with entrepreneur 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 property management business that produces investment returns and offers distinct financial investment insights and to both private and institutional clients.


Founded in 2012 under KC Gaming Networks, 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 wagering market.

Fikayo Ogunfuye - Country Director 22bet

Fikayo Ogunfuye is an experienced professional in the sports betting wagering market. He has actually been working as the Country Director for 22BET in Nigeria given that June 2021. In this function, he has actually added to the company's growth through collaborations, company technique, and new business advancement.


Fikayo's experience consists of roles such as Chief Operations Officer (West Africa) at 22BET, where he handled product advancement and consumer experience, and Country Manager at 22BET, concentrating on marketing method and spending plan management. Before 22BET, he led marketing efforts at LuckyBet.NG and held various 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 also 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 offers sports betting wagering, gambling establishment video games, and live dealership video games. It was released 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 likewise the owners of Betwinner and a chain of gambling establishments worldwide.

Sudeep Ramnani-- CEO Sportybet Group

Sudeep Ramnani is the Founder and CEO of SportyBet, a business he established in 2013.


SportyBet is a global sports betting wagering and real-money gaming operator known for providing an omni-channel entertainment experience in controlled emerging markets. Under Ramnani's leadership, SportyBet has actually ended up being a significant gamer in the market, 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 supporter for the growing African internet community. His financial investments show his dedication to promoting development and development within the region.


On April 30, 2024, Sudeep Ramnani bought 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 concentrated on revolutionising how millions of Africans engage with sports betting. In an industry 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 firm intends to take advantage of cutting-edge technology and a commitment to responsible gambling to revolutionise the sector.


Backed by the monetary power of 4 prominent African billionaires, Sunbet, which will release in the very first quarter of 2025, intends to be the continent's largest and most ingenious sports betting platform.


At a press briefing, the company's representative, Akin Babatunde, said that the rise in Internet penetration, mobile use, and the continent's deep enthusiasm for sports betting, specifically football, has actually set the stage for Sunbet's ambitious entry. He added that the company's robust financial backing and expert group will enable it to scale and control the marketplace rapidly.




Islamic cops raid wagering stores in northern Nigeria


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


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


Problems from neighborhood leaders and parents triggered the crackdown, fretted about the growing variety of sports betting addicts, he said.


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 cautioned that now that the general public knew that the Hisbah was clamping down on gaming, those flouting the guidelines would be apprehended.


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


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


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


Sports betting shops can be discovered all over the city. A lot of have television screens, and consumers watch the result of international football matches or horse races on which they have staked cash.


Mr Aminudeen said 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 converted to wagering stores," he said.


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


Lots of people go to bookmakers to delight in the sociability of other bettors, though mobile apps are also popular for wagering on the outcome of events and groups.


Nigeria's crippling recession has actually also suggested individuals want to run the risk of a percentage in the hope of winning big.


But this had actually resulted in prevalent dependency, and moms and dads were even grumbling that children were leaving of school to bet, Mr Aminudeen said.


"These financial issues we are facing in Nigeria is God telling us to change our ways by stopping sins," he said.


The raids on Tuesday concentrated on Munjibir, considered 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 closed down or we'll apprehend them and take them to [a Sharia] court," Mr Aminudeen said.
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It is uncertain what punishment they would face - typically, such violations carry a fine.


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