Exploring Nigeria’s Gaming Revolution: Leaders, Innovators, and Religious Conflicts

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

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

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

Despite financial challenges such as inflation, Nigeria’s sports betting wagering sector has actually grown, attracting millions, especially among the younger group facing high joblessness rates.

Reports show that approximately 60 million Nigerians aged 18-40 actively take part in sports betting wagering, driving a market that generates an approximated yearly revenue of N730 billion. The federal government has actually not gone unnoticed by this development, which is thinking about regulatory measures like import tax tasks and VAT boosts to manage the sector.

The National Lottery Act of 2005 recognized regulative bodies like the National Lottery Regulatory Commission to guarantee reasonable operations despite difficulties in enforcement. Issues such as insufficient age verification and marketing guideline breaches reveal industry regulatory gaps.

Despite these difficulties, sports betting wagering business continue to flourish through effective service models and aggressive marketing methods, leveraging the developer influencer industry.

These efforts have contributed to Nigeria’s robust $2 billion gambling sector, with CEOs playing crucial functions in expanding audience reach and driving market development. Here are the CEOs of leading sports betting wagering business who have significantly contributed 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 entertainment industry, consisting of operating at among the United Kingdom’s largest gaming centres, The Palace Bingo Club, sports betting 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 turned into a leading e-commerce organization in the sports betting and gaming sector, sports betting running through online, mobile, and retail channels. The business was integrated in Nigeria on November 7, 2006, sports betting and has given that broadened its presence, accomplishing 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 became the CEO of LiveScore Group, a totally integrated environment that integrates appropriate sports betting material, engaging functions, and a world-class sportsbook.

Considering that taking the helm prior to the pandemic, Sam has driven substantial development for LiveScore Group. The business’s employee headcount has actually increased by 29%, sports betting and yearly earnings has risen from roughly ₤ 10 million to over ₤ 80 million.

Sam’s leadership and strategic vision have actually propelled LiveScore Group’s success and helped shape the industry’s instructions. LiveScoreBet has actually achieved major 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, sports betting having formerly functioned as the company’s Marketing and Operations Director considering that 2015. He joined Betway in 2013 and has actually remained in the online gaming industry since 2000, holding various effective functions, consisting of General Manager of a data analytics group and sports betting Director of a digital marketing agency.

Under Werkman’s leadership, Betway has continued to grow its market presence and boost its offerings. The business’s app has amassed significant user engagement, with over 100,000 downloads on the Google Play Store.

Damilare Alabi, Co-Founder, Managing Director NairaBET

Damilare Alabi has identified herself as a senior executive with a track record of transforming start-ups into institutionalized businesses. Her expertise covers the video gaming, sports betting realty, and credit financing industries, sports betting where he has actually established himself as a tactical and functional leader.

Damilare has actually been instrumental in NairaBET’s success for over 14 years. Because June 2019, she has served as Managing Director sports betting and sports betting has actually overseen the company’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 founded DearDammy Women’s Initiative (DDWIN), a non-profit organization empowering women-owned services. DDWIN provides frHer academic 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 business, established business in 2009. While NairaBET was not the first sports betting wagering platform in Nigeria, it was the very first to release a totally practical website, setting a criteria 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 developed itself as one of the biggest bookies in Europe and sports betting the world. The company runs in more than 50 countries, including Nigeria, where it is totally accredited.

Under Babalola’s leadership, 1XBET Nigeria has broadened its footprint in the competitive Nigerian sports betting wagering market, using a vast array of wagering 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, Managing Director of KingMakers, sports betting and Chairman of Vend Capital. In addition to leading these endeavors, Ukanwoke has worked together with African socio-economic organizations and federal governments to design developmental policies focused on 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 Adekunle Adeniji, operates under the brand name of Lake Ventures Ltd. This pan-African sports betting and entertainment business has rapidly 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 collaboration with the Lagos Employment Trust Fund, sports betting creating over 100,000 tasks, the number of which is increasing yearly. 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, sports betting the founder, sports betting bulk shareholder, and joint Chief Executive of Bet365, an online gaming business she established in 2000. Bet365.com was launched in 2001 as an online wagering site and has given that grown into among the world’s biggest online gambling business.

By 2016, Bet365 generated $2 billion in profits and helped with $45 billion in yearly bets. The company likewise holds a bulk stake in Stoke City Football Club. Bet365 has 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, 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 property management company that generates financial investment returns and uses unique financial investment insights and solutions to both individual and institutional customers.

Founded in 2012 under KC Gaming Networks, sports betting Bet9ja has actually quickly grown in appeal, with over 1 million downloads on the Google Play Store. Under Ojuroye’s leadership, Bet9ja has 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 wagering market. He has actually been functioning as the Country Director for 22BET in Nigeria since June 2021. In this role, he has actually contributed to the company’s development through partnerships, organization technique, and new organization development.

Fikayo’s experience consists of functions such as Chief Operations Officer (West Africa) at 22BET, sports betting where he handled product advancement and customer experience, and Country Manager at 22BET, sports betting focusing on marketing technique 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, sports betting 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 sports betting 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 sports betting platform that uses sports betting, casino video games, and live dealer video games. It was introduced in 2017 and is owned and run by Marikit Holdings Ltd, a company registered in Cyprus and a subsidiary of Orakum N.V.. They are likewise 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 established in 2013.

SportyBet is a global sports betting and sports betting real-money video gaming operator understood for sports betting delivering an omni-channel home entertainment experience in regulated emerging markets. Under Ramnani’s management, SportyBet has actually become a considerable player in the industry, with over 1 million downloads on the Google Play Store.

In addition to his function at SportyBet, sports betting Sudeep is an active financier in fintech and mobile payments and a strong supporter for the growing African web environment. His investments show his dedication to fostering development and advancement within the area.

On April 30, 2024, Sudeep Ramnani invested in Chowdeck, taking part in a seed round valued at $2.5 million.

The firm is set to interfere with the sports betting industry.

Sunbet Sporting International Limited has said it is concentrated on changing how millions of Africans engage with sports betting. In an industry worth over $1.5 billion annual, with double-digit development forecast in the coming years, sports betting according to reports from the African Sports Betting Association and sports betting PwC, sports betting the firm intends to leverage cutting-edge technology and a commitment to responsible gambling to change the sector.

Backed by the monetary power of four prominent African billionaires, Sunbet, which will introduce in the first quarter of 2025, aims to be the continent’s biggest and most ingenious sports betting platform.

At a press instruction, sports betting the business’s representative, Akin Babatunde, sports betting stated that the rise in Internet penetration, mobile use, and the continent’s deep passion for sports betting, especially football, has set the stage for Sunbet’s enthusiastic entry. He included that the company’s robust financial backing and specialist team will allow it to scale and control the market quickly.

Islamic authorities raid betting shops in northern Nigeria

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

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

Complaints from neighborhood leaders and moms and dads triggered the crackdown, fretted about the growing number of gambling addicts, he stated.

On the first day of raids, 30 stores were closed in one suburban area alone, and their owners were sent home with a caution, the Sharia officer stated.

But Mr Aminudeen cautioned that now that the general public understood that the Hisbah was clamping down on gaming, those flouting the guidelines would be jailed.

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

Bookmakers and sports betting bars tend to be allowed to run in Kano’s Christian areas, though they too can face action if the Hisbah thinks Muslims are frequenting them.

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

Sports betting shops can be discovered all over the city. Most have tv screens, and customers see the result of global football matches or horse races on which they have actually staked money.

Mr Aminudeen said such bookmakers had actually had the ability to operate under the radar as they had actually opened under false pretenses.

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

The sports betting market has actually expanded drastically throughout West Africa recently. The region is approximately divided in between a primarily Muslim north and sports betting a predominantly Christian south.

Many people go to bookmakers to take pleasure in the camaraderie of other bettors, though mobile apps are likewise popular for sports betting on the result of occasions and sports betting groups.

Nigeria’s debilitating recession has likewise meant people are willing to risk a small amount in the hope of winning huge.

However this had actually caused widespread addiction, and parents were even complaining that kids were leaving of school to gamble, Mr Aminudeen stated.

“These economic issues we are facing in Nigeria is God informing 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 encouraging those running those sports betting shops to either closed down or we’ll apprehend them and take them to [a Sharia] court,” Mr Aminudeen stated.

It is uncertain what penalty they would face – often, sports betting such violations carry a fine.

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