About Us

Inside Nigeria’s Gaming Transformation: Leaders, Challengers, and Religious Clashes

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

Gaming has actually developed considerably in Nigeria from traditional kinds like pool staking and sports betting Baba Ijebu to a flourishing sports betting wagering market. Historically tied to European football leagues, sports betting pool staking was a common sight at motor sports betting parks and kiosks, sports betting where enthusiasts would bet just N50-N200 on matches.

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

Regardless of financial obstacles such as inflation, Nigeria’s sports betting wagering sector has actually thrived, bring in millions, especially among the vibrant market facing high joblessness rates.

Reports indicate that around 60 million Nigerians aged 18-40 actively participate in sports betting, driving a market that produces a projected annual profits of N730 billion. The federal government has actually not gone undetected by this development, sports betting which is thinking about regulative steps like import tax responsibilities and VAT boosts to handle the sector.

The National Lottery Act of 2005 established regulatory bodies like the National Lottery Regulatory Commission to guarantee fair operations regardless of difficulties in enforcement. Issues such as insufficient age confirmation and advertising guideline breaches reveal market regulatory gaps.

Regardless of these difficulties, sports betting companies continue to prosper through reliable service models and aggressive marketing strategies, leveraging the developer influencer industry.

These efforts have contributed to Nigeria’s robust $2 billion sports betting sector, with CEOs playing vital functions in expanding audience reach and driving market growth. Here are the CEOs of leading sports betting wagering business who have actually considerably added to Nigeria’s $2 billion gambling empire through their extensive 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 spans different functions in the gaming and entertainment industry, consisting of operating at one of the United Kingdom’s biggest gaming centres, sports betting 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, sports betting Wales. Surebet247, founded in August 2011, has actually become a leading e-commerce organization in the sports betting and video gaming sector, running through online, mobile, and retail channels. The business was incorporated in Nigeria on November 7, 2006, and has actually since expanded 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 sports betting brands and sports betting media. In 2019, he ended up being the CEO of LiveScore Group, a totally integrated ecosystem that integrates pertinent sports betting material, engaging features, and a world-class sportsbook.

Since taking the helm just before the pandemic, Sam has actually driven substantial development for LiveScore Group. The company’s employee headcount has increased by 29%, and annual revenue has actually risen from approximately ₤ 10 million to over ₤ 80 million.

Sam’s leadership and tactical vision have moved 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, sports betting having actually formerly functioned as the company’s Marketing and sports betting Operations Director considering that 2015. He signed up with Betway in 2013 and sports betting has actually been in the online gaming market because 2000, holding different effective roles, consisting of General Manager of an information analytics team and Director of a digital marketing company.

Under Werkman’s management, sports betting Betway has actually continued to grow its market existence and boost its offerings. The business’s app has gathered substantial user engagement, with over 100,000 downloads on the Google Play Store.

Damilare Alabi, Co-Founder, Managing Director NairaBET

Damilare Alabi has differentiated herself as a senior executive with a performance history of changing start-ups into institutionalized organizations. Her expertise spans the gaming, realty, and credit financing markets, sports betting where he has actually developed himself as a tactical and functional leader.

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

Before this, she was the Chief Operating Officer from 2010 to June 2019, essential in the company’s functional strategies and market expansion.

She founded DearDammy Women’s Initiative (DDWIN), a non-profit company empowering women-owned services. DDWIN provides frHer educational background includes a Bachelor’s degree in Geology/Earth Science from the University of Ibadan, completed in 2005.

Akin Alabi, the founder of NairaBET.com, Nigeria’s pioneering sports betting bookmaking business, developed business in 2009. While NairaBET was not the first sports betting wagering platform in Nigeria, it was the first to release a totally practical 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 business based in Cyprus. 1XBET, founded in 2007 by the late Sergey Karshkov, has established itself as one of the largest bookmakers in Europe and the world. The company runs in more than 50 nations, including Nigeria, where it is completely certified.

Under Babalola’s leadership, 1XBET Nigeria has actually expanded its footprint in the competitive Nigerian sports betting wagering market, using a large range of wagering alternatives 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 sports betting of KingMakers, sports betting and Chairman of Vend Capital. In addition to leading these endeavors, Ukanwoke has actually collaborated with African socio-economic organizations and federal governments to create developmental policies focused on empowering youths. In 2015, Ernst & & Young honoured him as the Winner of the Accelerating Category– World Entrepreneur of the Year.

BetKing, established and introduced 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 rapidly grown its existence in Nigeria, with outlets in significant cities and over 500,000 downloads on the Google Play Store.

In 2020, BetKing participated in a partnership with the Lagos Employment Trust Fund, producing over 100,000 jobs, the number of which is increasing every year. In the very 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 founder, bulk shareholder, and joint Chief Executive of Bet365, an online sports betting company she developed in 2000. Bet365.com was released in 2001 as an online sports betting website and has actually since turned into among the world’s biggest online gambling companies.

By 2016, Bet365 created $2 billion in incomes and facilitated $45 billion in yearly bets. The company likewise holds a majority stake in Stoke City Football Club. Bet365 has amassed significant user engagement, sports betting 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 business in Nigeria, developed alongside businessman Kunle Soname, who likewise owns Portuguese club CD Feirense and sports betting Nigerian club Remo Stars.

Ojuroye is also the Chairman of Mango Asset Management, an independent Nigerian possession management company that generates financial investment returns and offers distinct investment insights and sports betting services to both private and institutional customers.

Founded in 2012 under KC Gaming Networks, Bet9ja has actually quickly grown in appeal, with over 1 million downloads on the Google Play Store. Under Ojuroye’s management, Bet9ja has actually ended up being a considerable gamer in the Nigerian sports betting wagering market.

Fikayo Ogunfuye – Country Director 22bet

Fikayo Ogunfuye is a seasoned professional in the sports betting wagering market. He has actually been serving as the Country Director sports betting for 22BET in Nigeria considering that June 2021. In this function, he has contributed to the business’s growth through partnerships, company technique, and new company advancement.

Fikayo’s experience consists of roles such as Chief Operations Officer (West Africa) at 22BET, where he managed item development and consumer experience, sports betting and sports betting Country Manager at 22BET, sports betting focusing on marketing technique and budget 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 worked in SEO, CRM, and content management. Fikayo also acted 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 provides sports betting wagering, casino games, and live dealer 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 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 company he established in 2013.

SportyBet is a worldwide sports betting wagering and real-money gaming operator understood for providing an omni-channel home entertainment experience in regulated emerging markets. Under Ramnani’s management, SportyBet has ended up being a considerable player in the industry, sports betting 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 advocate for sports betting the growing African internet environment. His financial investments reflect his commitment to promoting development and advancement within the region.

On April 30, 2024, sports betting Sudeep Ramnani purchased Chowdeck, participating in a seed round valued at $2.5 million.

The company is set to interfere with the sports betting market.

Sunbet Sporting International Limited has stated it is focused on changing how millions of Africans engage with sports betting. In a market worth over $1.5 billion annual, with double-digit development projection in the coming years, according to reports from the African Sports Betting Association and PwC, the company intends to take advantage of advanced technology and a dedication to accountable sports betting to change the sector.

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

At a press briefing, the business’s representative, Akin Babatunde, stated that the rise in Internet penetration, mobile use, and the continent’s deep passion for sports betting, particularly football, sports betting has actually set the stage for sports betting Sunbet’s ambitious entry. He included that the firm’s robust sponsorship and specialist group will allow it to scale and dominate the marketplace rapidly.

Islamic police raid betting stores in northern Nigeria

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

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

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

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

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

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

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

However, the current crackdown is concentrated on Muslim areas of Kano, a vast city and the economic hub of northern Nigeria.

Sports betting shops can be discovered all over the city. Many have television screens, and clients view the outcome of worldwide football matches or horse races on which they have staked cash.

Mr Aminudeen stated such bookies had been able to 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 transformed to sports betting shops,” he said.

The sports betting wagering industry has actually expanded drastically throughout West Africa in the last few years. The region is roughly divided between a generally Muslim north and a primarily Christian south.

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

Nigeria’s debilitating economic crisis has also implied people are willing to run the risk of a small amount in the hope of winning big.

However this had led to extensive addiction, and parents were even grumbling that children were leaving of school to gamble, Mr Aminudeen stated.

“These economic concerns we are facing in Nigeria is God informing us to alter our methods by stopping sins,” he said.

The raids on Tuesday concentrated on Munjibir, sports betting thought about 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 said.

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

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