This company has no active jobs
0 Review
Rate This Company ( No reviews yet )
About Us
Game Changers: How Islamic Crackdowns and Digital Innovation are Transforming Nigeria’s Betting Scene
Meet CEOs/MDs of companies behind Nigeria’s $2 billion Sports wagering market.
sports betting has actually evolved substantially in from standard types like pool staking and Baba Ijebu to a thriving sports betting market. Historically tied to European football leagues, swimming pool staking was a typical sight at motor parks and kiosks, where lovers would wager as low as N50-N200 on matches.
Slowly, with increased internet access came virtual sports betting, which parallels international trends. The sports betting market is valued at $89.91 billion in 2023 and sports betting is predicted to almost double to $182.02 billion by 2030.
Despite financial obstacles such as inflation, sports betting Nigeria’s sports betting wagering sector has grown, attracting millions, specifically among the younger demographic facing high unemployment rates.
Reports suggest that approximately 60 million Nigerians aged 18-40 actively participate in sports betting, driving a market that generates a projected yearly earnings of N730 billion. The federal government has not gone unnoticed by this development, which is thinking about regulative steps like import tax tasks and VAT boosts to manage the sector.
The National Lottery Act of 2005 established regulatory bodies like the National Lottery Regulatory Commission to guarantee fair operations in spite of obstacles in enforcement. Problems such as insufficient age confirmation and advertising rule breaches reveal industry regulatory gaps.
Regardless of these obstacles, sports betting wagering business continue to prosper through reliable company designs and aggressive marketing methods, leveraging the developer influencer industry.
These efforts have contributed to Nigeria’s robust $2 billion gaming sector, with CEOs playing crucial roles in expanding audience reach and sports betting driving industry development. Here are the CEOs of leading sports betting wagering business who have significantly added to Nigeria’s $2 billion gambling empire through their substantial audience reach.
Constable Olaniyan – CEO Surebet247
Constable Olaniyan is the CEO of Surebet247, sports betting a sports betting book business he co-founded with Badmos Olasupo in 2011. His diverse career spans different roles in the video gaming and entertainment industry, sports betting consisting of operating at among the United Kingdom’s biggest video gaming centres, The Palace Bingo Club, sports betting where he acted as the Lead Engineer in a Bingo and Bowling Club.
Olaniyan holds a BSc in Geography from the University of Ilorin and sports betting a Master’s in Geographical Information Systems from the University of Glamorgan, Wales. Surebet247, founded in August 2011, has become a leading e-commerce company in the wagering and gaming sector, running through online, mobile, and retail channels. The company was included in Nigeria on November 7, 2006, and has given that broadened its presence, achieving over 5,000 downloads on the Google Play Store.
Sam Sadi – CEO Livescorebet
Sam Sadi has more than 25 years of experience in wagering brands and sports betting media. In 2019, he ended up being the CEO of LiveScore Group, a totally integrated ecosystem that combines pertinent sports betting content, engaging functions, and sports betting a first-rate sportsbook.
Since taking the helm just before the pandemic, Sam has driven considerable development for LiveScore Group. The business’s worker headcount has actually increased by 29%, and annual revenue has surged from approximately ₤ 10 million to over ₤ 80 million.
Sam’s management and tactical vision have propelled LiveScore Group’s success and assisted shape 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 actually formerly functioned as the business’s Marketing and Operations Director since 2015. He joined Betway in 2013 and has actually remained in the online gaming industry given that 2000, holding different effective roles, consisting of General Manager of an information analytics team and Director of a digital marketing firm.
Under Werkman’s management, Betway has continued to grow its market presence and enhance its offerings. The company’s app has garnered substantial user engagement, sports betting with over 100,000 downloads on the Google Play Store.
Damilare Alabi, Co-Founder, Managing Director NairaBET
Damilare Alabi has actually distinguished herself as a senior executive with a track record of transforming start-ups into institutionalized companies. Her know-how covers the video gaming, sports betting realty, and credit financing markets, where he has developed himself as a tactical and functional leader.
Damilare has actually contributed in NairaBET’s success for over 14 years. Given that June 2019, she has served as Managing Director and has managed the company’s growth and operations in Lagos, Nigeria.
Before this, sports betting she was the Chief Operating Officer from 2010 to June 2019, pivotal in the company’s functional techniques and market growth.
She founded DearDammy Women’s Initiative (DDWIN), sports betting a non-profit company empowering women-owned organizations. DDWIN supplies frHer educational background includes a Bachelor’s degree in Geology/Earth Science from the University of Ibadan, completed 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 first to launch a fully functional website, 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 actually established itself as one of the biggest bookmakers in Europe and the world. The business operates in more than 50 countries, consisting of Nigeria, where it is completely accredited.
Under Babalola’s leadership, 1XBET Nigeria has actually expanded its footprint in the competitive Nigerian sports betting wagering market, providing a vast array of wagering choices 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 ventures, Ukanwoke has actually collaborated with African socio-economic organizations and federal governments to design 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 launched 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 entertainment business has actually rapidly 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 tasks, 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 founder, majority shareholder, and joint Chief Executive of Bet365, an online gaming business she developed in 2000. Bet365.com was launched in 2001 as an online wagering website and has actually considering that turned into one of the world’s largest online sports betting business.
By 2016, Bet365 generated $2 billion in profits and assisted in $45 billion in yearly bets. The business likewise 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, developed along with businessman 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 generates investment returns and offers distinct financial investment insights and sports betting solutions to both specific and institutional clients.
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 ended up being a substantial player in the Nigerian sports betting wagering market.
Fikayo Ogunfuye – Country Director 22bet
Fikayo Ogunfuye is an experienced expert 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 contributed to the business’s development through collaborations, business strategy, sports betting and brand-new service development.
Fikayo’s experience includes roles such as Chief Operations Officer (West Africa) at 22BET, where he managed item development and consumer experience, and Country Manager at 22BET, focusing on marketing method and budget management. Before 22BET, he led marketing efforts at LuckyBet.NG and held numerous digital marketing functions at Laclic Services and Betty Bingo.
His career began at Jumia Group, where he worked in SEO, CRM, and 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 sports betting a Master of Science (MS) in Business Administration, sports betting Management, and Operations from ESTG University in Cotonou, Benin Republic.
22Bet is an online gambling platform that provides sports betting wagering, casino games, and live dealership games. It was introduced 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 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 understood for delivering an omni-channel home entertainment experience in regulated emerging markets. Under Ramnani’s leadership, SportyBet has become a considerable gamer in the industry, with over 1 million downloads on the Google Play Store.
In addition to his function at SportyBet, Sudeep is an active financier in fintech and mobile payments and a strong supporter for the growing African web community. His financial investments reflect his dedication to promoting innovation and development within the region.
On April 30, 2024, Sudeep Ramnani invested in Chowdeck, sports betting taking part in a seed round valued at $2.5 million.
The firm 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 a market worth over $1.5 billion yearly, with double-digit development forecast in the coming years, according to reports from the African Sports Betting Association and PwC, the company aims to take advantage of cutting-edge technology and a dedication to accountable gaming to change the sector.
Backed by the financial power of 4 popular African billionaires, Sunbet, which will launch in the first quarter of 2025, intends to be the continent’s largest and most innovative sports betting platform.
At a press rundown, the business’s spokesperson, 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 sports betting Sunbet’s enthusiastic entry. He added that the firm’s robust financial backing and expert group will allow it to scale and control the marketplace quickly.
Islamic cops raid betting shops in northern Nigeria
Islamic cops in Nigeria’s northern city of Kano have actually begun shutting down sports betting shops, which they state are operating unlawfully.
“As you know, 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 prompted the crackdown, sports betting worried about the growing variety of gambling addicts, he said.
On the very 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 said.
But Mr Aminudeen warned that now that the public was aware that the Hisbah was clamping down on gaming, those flouting the rules would be jailed.
Kano city is the capital of Kano state, which has a bulk Muslim population and operates the Islamic legal system – Sharia – together with nonreligious law.
Bookmakers and bars tend to be allowed to operate in Kano’s Christian areas, though they too can face action if the Hisbah believes Muslims are frequenting them.
However, the present crackdown is concentrated on Muslim locations of Kano, a sprawling city and the financial hub of northern Nigeria.
sports betting wagering stores can be discovered all over the city. Most have tv screens, and clients enjoy the outcome of international 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 do not have licences to run as they were permitted to run video games centres, which they later converted to sports betting stores,” he said.
The sports betting wagering market has expanded significantly across West Africa over the last few years. The area is approximately divided in between a generally Muslim north and a predominantly Christian south.
Many individuals go to bookies to take pleasure in the camaraderie of other gamblers, though mobile apps are also popular for wagering on the result of occasions and groups.
Nigeria’s debilitating recession has likewise meant individuals want to risk a small amount in the hope of winning big.
But this had caused extensive dependency, and parents were even complaining that kids were leaving of school to bet, Mr Aminudeen stated.
“These financial issues we are dealing with in Nigeria is God telling us to alter our methods 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 encouraging those running those sports betting stores to either closed down or we’ll detain them and take them to [a Sharia] court,” Mr Aminudeen stated.
It is uncertain what punishment they would face – typically, such infringements carry 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.