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Betting Battles: Islamic Police Crackdown Escalate as Tech Company Challenges Nigeria’s Gaming Leaders

Meet CEOs/MDs of business behind Nigeria’s $2 billion Sports betting industry.

sports betting has actually evolved significantly in Nigeria from conventional forms like pool staking and Baba Ijebu to a successful sports betting market. Historically connected to European football leagues, swimming pool staking was a common sight at motor parks and sports betting kiosks, where lovers would wager just N50-N200 on matches.

Gradually, with increased web gain access to came virtual sports betting, which parallels global patterns. The sports betting market is valued at $89.91 billion in 2023 and is projected to almost double to $182.02 billion by 2030.

Despite financial challenges such as inflation, sports betting Nigeria’s sports betting sector sports betting has grown, sports betting drawing in millions, specifically among the younger group facing high unemployment rates.

Reports show that roughly 60 million Nigerians aged 18-40 actively participate in sports betting wagering, sports betting driving a market that generates a projected annual revenue of N730 billion. The federal government has actually not gone undetected by this growth, which is thinking about regulative steps 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 regardless of obstacles in enforcement. Concerns such as inadequate age verification and sports betting advertising guideline breaches show market regulative gaps.

In spite of these difficulties, sports betting wagering business continue to thrive through reliable business models and aggressive marketing techniques, leveraging the creator sports betting influencer industry.

These efforts have actually contributed to Nigeria’s robust $2 billion sports betting sector, with CEOs playing essential roles in expanding audience reach and driving industry development. Here are the CEOs of leading sports betting business who have actually substantially contributed to Nigeria’s $2 billion gaming empire through their comprehensive audience reach.

Constable Olaniyan – CEO Surebet247

Constable Olaniyan is the CEO of Surebet247, a sports betting book company he co-founded with Badmos Olasupo in 2011. His diverse career spans different functions in the video gaming and show business, including operating at among the United Kingdom’s largest gaming centres, The Palace Bingo Club, where he worked 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 grown into a leading e-commerce company in the sports betting and video gaming sector, running through online, mobile, and retail channels. The business was included in Nigeria on November 7, 2006, and has considering that broadened its existence, achieving over 5,000 downloads on the Google Play Store.

Sam Sadi – CEO Livescorebet

Sam Sadi has over 25 years of experience in wagering brands and sports betting media. In 2019, he became the CEO of LiveScore Group, sports betting a fully incorporated environment that combines pertinent sports betting content, engaging features, and a first-rate sportsbook.

Considering that taking the helm just before the pandemic, Sam has actually driven substantial growth for LiveScore Group. The company’s staff member headcount has actually increased by 29%, and sports betting annual revenue has actually risen from approximately ₤ 10 million to over ₤ 80 million.

Sam’s management and strategic vision have actually propelled LiveScore Group’s success and assisted shape the market’s instructions. LiveScoreBet has attained major user engagement, sports betting 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, having actually formerly served as the company’s Marketing and Operations Director since 2015. He signed up with Betway in 2013 and has actually remained in the online video gaming industry considering that 2000, holding numerous effective functions, consisting of General Manager of an information analytics group and Director of a digital marketing company.

Under Werkman’s leadership, Betway has actually continued to grow its market presence and enhance its offerings. The business’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 identified herself as a senior executive with a performance history of changing start-ups into institutionalized businesses. Her know-how covers the video gaming, property, and credit lending markets, where he has established himself as a tactical and operational leader.

Damilare has actually contributed in NairaBET’s success for over 14 years. Because June 2019, she has actually acted as Managing Director and has actually supervised the company’s growth and operations in Lagos, Nigeria.

Before this, she was the Chief Operating Officer from 2010 to June 2019, pivotal in the company’s functional methods and market growth.

She established DearDammy Women’s Initiative (DDWIN), a non-profit organization empowering women-owned organizations. DDWIN offers frHer academic background includes 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 business in 2009. While NairaBET was not the very first sports betting wagering platform in Nigeria, it was the very first to release a totally practical site, 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 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 company runs in more than 50 countries, consisting of Nigeria, sports betting where it is completely certified.

Under Babalola’s leadership, 1XBET Nigeria has actually expanded its footprint in the competitive Nigerian sports betting wagering market, providing a wide variety of wagering 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 teamed up with African socio-economic organizations and federal governments to create 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, founded and sports betting introduced in Nigeria on February 22, 2018, by Byron Petzer and Adekunle Adeniji, runs under the brand name of Lake Ventures Ltd. This pan-African sports betting and home entertainment business has quickly grown its presence in Nigeria, with 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, creating over 100,000 tasks, the variety of which is increasing yearly. 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, sports betting the creator, sports betting bulk investor, and joint Chief Executive of Bet365, an online gambling company she developed in 2000. Bet365.com was introduced in 2001 as an online sports betting website and sports betting has given that grown into among the world’s biggest online sports betting companies.

By 2016, Bet365 generated $2 billion in revenues and facilitated $45 billion in annual bets. The business also holds a majority stake in Stoke City Football Club. Bet365 has amassed considerable 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, a leading sports betting business in Nigeria, developed 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 asset management company that generates financial investment returns and uses unique financial investment insights and sports betting services to both specific and institutional clients.

Founded in 2012 under KC Gaming Networks, Bet9ja has actually rapidly grown in popularity, with over 1 million downloads on the Google Play Store. Under Ojuroye’s leadership, Bet9ja has become a considerable player in the Nigerian sports betting wagering industry.

Fikayo Ogunfuye – Country Director 22bet

Fikayo Ogunfuye is a seasoned specialist in the sports betting industry. He has actually been serving as the Country Director sports betting for 22BET in Nigeria since June 2021. In this role, he has actually contributed to the business’s growth through partnerships, business method, and brand-new service development.

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

His career started at Jumia Group, where he worked 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 gambling platform that offers sports betting wagering, casino games, and live dealer video games. It was launched in 2017 and is owned and run by Marikit Holdings Ltd, a company registered in Cyprus and sports betting 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 global sports betting wagering and real-money video gaming operator understood for providing an omni-channel home entertainment experience in regulated emerging markets. Under Ramnani’s leadership, SportyBet has actually become a significant gamer 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 supporter for the growing African internet ecosystem. His investments reflect his dedication to promoting 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 company is set to interfere with the sports wagering industry.

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 company aims to leverage cutting-edge innovation and a commitment to accountable gambling to change the sector.

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

At a press instruction, sports betting the business’s spokesperson, Akin Babatunde, stated that the rise in Internet penetration, mobile use, and the continent’s deep enthusiasm for sports betting, especially football, has actually set the stage for Sunbet’s ambitious entry. He added that the company’s robust financial backing and specialist team will enable it to scale and sports betting control the marketplace quickly.

Islamic authorities raid betting stores in northern Nigeria

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

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

Grievances from neighborhood leaders and moms and dads triggered the crackdown, stressed over the growing number of gambling addicts, he said.

On the 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 cautioned that now that the general public was aware that the Hisbah was clamping down on sports betting, those flouting the rules would be apprehended.

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

Bookmakers and bars tend to be allowed to run in Kano’s Christian neighbourhoods, though they too can deal with action if the Hisbah believes Muslims are frequenting them.

Nevertheless, the current crackdown is concentrated on Muslim locations of Kano, a sprawling city and the financial center of northern Nigeria.

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

Mr Aminudeen stated such bookmakers had actually been able to run under the radar as they had opened under false pretences.

“They do not have licences to operate as they were allowed to run video games centres, which they later on transformed to sports betting shops,” he stated.

The sports betting market has expanded considerably across West Africa in the last few years. The region is roughly divided in between a generally Muslim north and a mainly Christian south.

Many people go to bookmakers to delight in the camaraderie of other gamblers, though mobile apps are also popular for wagering on the outcome of occasions and groups.

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

However this had actually caused prevalent addiction, and parents were even complaining that kids were leaving of school to bet, Mr Aminudeen said.

“These financial concerns we are facing in Nigeria is God telling us to change our ways by stopping sins,” he stated.

The raids on Tuesday focused on Munjibir, sports betting considered a resort area in the northeast of the city– visitors flock there at weekends.

“I am encouraging those running those wagering stores to either shut down or we’ll apprehend them and take them to [a Sharia] court,” Mr Aminudeen stated.

It is uncertain what penalty they would face – frequently, such infringements bring a fine.

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