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

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

Gaming has actually developed considerably in Nigeria from conventional forms like pool staking and Baba Ijebu to a flourishing sports betting wagering industry. Historically tied to European football leagues, swimming pool staking was a typical sight at motor parks and sports betting kiosks, where lovers would bet just N50-N200 on matches.

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

Regardless of financial challenges such as inflation, Nigeria’s sports betting sector sports betting has actually thrived, bring in millions, especially among the younger market dealing with high unemployment rates.

Reports indicate that around 60 million Nigerians aged 18-40 actively engage in sports betting wagering, driving an industry that produces an estimated yearly income of N730 billion. The federal government has not gone unnoticed by this growth, which is thinking about regulative steps 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 make sure reasonable operations in spite of obstacles in enforcement. Concerns such as insufficient age confirmation and marketing guideline breaches show market regulative spaces.

In spite of these difficulties, sports betting wagering business continue to thrive through efficient organization designs and aggressive marketing strategies, leveraging the creator influencer market.

These efforts have added to Nigeria’s robust $2 billion gaming sector, sports betting with CEOs playing vital roles in expanding audience reach and sports betting driving market development. Here are the CEOs of leading sports betting wagering companies who have actually considerably contributed to Nigeria’s $2 billion gaming empire through their comprehensive 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 diverse career covers numerous functions in the gaming and show business, including operating at one of the United Kingdom’s biggest 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, sports betting has actually turned 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 given that expanded its existence, 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 integrated environment that combines pertinent sports betting content, sports betting engaging features, and a first-rate sportsbook.

Because taking the helm right before the pandemic, Sam has actually driven substantial development for LiveScore Group. The company’s worker headcount has actually increased by 29%, and yearly income has actually surged from around ₤ 10 million to over ₤ 80 million.

Sam’s leadership and strategic vision have actually propelled LiveScore Group’s success and assisted form the industry’s direction. LiveScoreBet has actually achieved significant 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 actually formerly functioned 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 market given that 2000, sports betting holding numerous effective functions, including General Manager of an information analytics team and Director of a digital marketing firm.

Under Werkman’s management, Betway has actually continued to grow its market presence and boost its offerings. The business’s app has actually garnered substantial 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 performance history of changing start-ups into institutionalized companies. Her proficiency spans the video gaming, real estate, and credit loaning industries, where he has developed himself as a strategic and functional leader.

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

Before this, sports betting she was the Chief Operating Officer from 2010 to June 2019, essential in the company’s functional techniques and market growth.

She founded DearDammy Women’s Initiative (DDWIN), a non-profit organization empowering women-owned services. DDWIN provides frHer academic 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, developed business in 2009. While NairaBET was not the very first sports betting wagering platform in Nigeria, sports betting it was the very first to release a completely functional site, setting a benchmark in the industry.

Femi Babalola- General Manager of 1Xbet Nigeria Limited

Femi Babalola is the Managing Director sports betting of 1XBET Nigeria Limited, a franchise of the worldwide sports betting company based in Cyprus. 1XBET, founded in 2007 by the late Sergey Karshkov, sports betting has established itself as one of the largest bookmakers in Europe and the world. The business runs in more than 50 countries, consisting of Nigeria, where it is fully accredited.

Under Babalola’s management, 1XBET Nigeria has actually broadened its footprint in the competitive Nigerian sports betting market, providing a vast array of wagering choices and an user-friendly 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, and sports betting Chairman of Vend Capital. In addition to leading these ventures, sports betting Ukanwoke has collaborated with African socio-economic institutions and governments to create 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, founded and released in Nigeria on February 22, 2018, by Byron Petzer and Adekunle Adeniji, sports betting operates under the brand name of Lake Ventures Ltd. This pan-African sports betting and entertainment business has quickly grown its presence in Nigeria, sports betting with outlets in significant cities and over 500,000 downloads on the Google Play Store.

In 2020, BetKing participated in a collaboration with the Lagos Employment Trust Fund, developing over 100,000 jobs, the number of which is increasing every year. In the 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 investor, and joint Chief Executive of Bet365, an online gambling company she established in 2000. Bet365.com was released in 2001 as an online wagering site and has since become among the world’s biggest online sports betting business.

By 2016, Bet365 created $2 billion in revenues and facilitated $45 billion in yearly bets. The company also holds a majority stake in Stoke City Football Club. Bet365 has 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 wagering business in Nigeria, established alongside entrepreneur 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 possession management business that creates financial investment returns and provides distinct financial investment insights and sports betting options 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 management, Bet9ja has ended up being a substantial player in the Nigerian sports betting wagering market.

Fikayo Ogunfuye – Country Director 22bet

Fikayo Ogunfuye is a seasoned expert in the sports betting market. He has been serving as the Country Director for sports betting 22BET in Nigeria given that June 2021. In this role, he has actually contributed to the business’s development through collaborations, sports betting organization strategy, and brand-new company advancement.

Fikayo’s experience consists of roles such as Chief Operations Officer (West Africa) at 22BET, where he handled product advancement and client experience, and Country Manager at 22BET, focusing on marketing strategy and budget management. Before 22BET, sports betting he led marketing efforts at LuckyBet.NG and held numerous digital marketing functions at Laclic Services and Betty Bingo.

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

22Bet is an online sports betting platform that provides sports betting wagering, casino games, and live dealer games. It was launched in 2017 and is owned and operated by Marikit Holdings Ltd, a business signed up 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 business he established in 2013.

SportyBet is a worldwide sports betting wagering and real-money gaming operator known for delivering an omni-channel home entertainment experience in managed emerging markets. Under Ramnani’s leadership, SportyBet has actually ended up being a significant player in the market, with over 1 million downloads on the Google Play Store.

In addition to his role at SportyBet, Sudeep is an active investor in fintech and mobile payments and sports betting a strong advocate for the growing African internet environment. His financial investments reflect his dedication to cultivating development 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 said it is focused on changing how millions of Africans engage with sports betting. In an industry worth over $1.5 billion yearly, with double-digit development projection in the coming years, sports betting according to reports from the African Sports Betting Association and PwC, the company intends to utilize advanced technology and a dedication to accountable gaming to change the sector.

Backed by the financial power of four prominent African billionaires, Sunbet, which will release in the first quarter of 2025, intends to be the continent’s largest and most innovative sports betting platform.

At a press briefing, the company’s representative, sports betting Akin Babatunde, stated that the increase in Internet penetration, sports betting mobile use, and the continent’s deep passion for sports betting, particularly football, has actually set the stage for Sunbet’s enthusiastic entry. He added that the company’s robust financial backing and specialist team will enable it to scale and dominate the market quickly.

Islamic cops raid betting stores in northern Nigeria

Islamic cops in Nigeria’s northern city of Kano have begun shutting down sports betting stores, which they say are operating illegally.

“As you understand, sports betting is forbidden in Islam,” Mujahid Aminudeen, sports betting deputy chief of the Sharia police force, known as the Hisbah, told the BBC.

Grievances from neighborhood leaders and parents triggered the crackdown, worried about the growing variety of addicts, sports betting he stated.

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

But Mr Aminudeen warned that now that the public was aware that the Hisbah was clamping down on sports betting, 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 – along with secular law.

Bookies and bars tend to be enabled to run in Kano’s Christian neighbourhoods, though they too can face action if the Hisbah thinks Muslims are frequenting them.

However, the existing crackdown is focused on Muslim locations of Kano, a sprawling city and the economic hub of northern Nigeria.

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

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

“They don’t have licences to operate as they were allowed to run video games centres, which they later on converted to wagering shops,” he said.

The sports betting wagering industry has expanded significantly across West Africa recently. The region is approximately divided between a mainly Muslim north and a predominantly Christian south.

Many people go to bookmakers to enjoy the sociability of other bettors, though mobile apps are likewise popular for sports betting on the outcome of events and sports betting teams.

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

But this had led to extensive dependency, and parents were even complaining that kids were leaving of school to gamble, Mr Aminudeen stated.

“These economic problems we are facing 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 shops to either shut down or we’ll apprehend them and take them to [a Sharia] court,” Mr Aminudeen stated.

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

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