Game Changers: How Islamic Crackdowns and Digital Innovation are Reshaping Nigeria’s Betting Scene

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

Gaming has progressed significantly in Nigeria from standard forms like pool staking and sports betting Baba Ijebu to a thriving sports betting market. Historically connected to European football leagues, swimming pool staking was a common sight at motor parks and kiosks, sports betting where lovers would bet as low as N50-N200 on matches.

Slowly, with increased internet access came virtual wagering, which parallels worldwide 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.

Regardless of economic difficulties such as inflation, Nigeria’s sports betting wagering sector has grown, sports betting drawing in millions, especially among the younger demographic dealing with high unemployment rates.

Reports suggest that around 60 million Nigerians aged 18-40 actively participate in sports betting wagering, driving an industry that generates a projected yearly revenue of N730 billion. The federal government has actually not gone unnoticed by this growth, which is considering regulative steps like import tax responsibilities and VAT increases to handle 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. Issues such as insufficient age confirmation and marketing guideline breaches reveal industry regulative gaps.

Regardless of these challenges, sports betting business continue to flourish through effective service designs and aggressive marketing strategies, leveraging the creator influencer industry.

These efforts have added to Nigeria’s robust $2 billion gambling sector, with CEOs playing essential roles in broadening audience reach and driving market growth. Here are the CEOs of leading sports betting wagering companies who have significantly contributed to Nigeria’s $2 billion gambling empire through their comprehensive audience reach.

Sheriff Olaniyan – CEO Surebet247

Constable Olaniyan is the CEO of Surebet247, a sports betting book company he co-founded with Badmos Olasupo in 2011. His varied profession covers different roles in the video gaming and entertainment industry, sports betting including working at among the United Kingdom’s largest video gaming centres, sports betting The Palace Bingo Club, 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 a Master’s in Geographical Information Systems from the University of Glamorgan, Wales. Surebet247, sports betting founded in August 2011, has turned into a leading e-commerce business in the sports betting and gaming sector, operating through online, mobile, and retail channels. The company was included in Nigeria on November 7, 2006, and has actually considering 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 wagering brand names and sports betting media. In 2019, he ended up being the CEO of LiveScore Group, a completely incorporated community that combines relevant sports betting material, engaging features, and a world-class sportsbook.

Because taking the helm right before the pandemic, Sam has driven significant growth for LiveScore Group. The company’s staff member headcount has actually increased by 29%, and yearly earnings has actually risen from around ₤ 10 million to over ₤ 80 million.

Sam’s management and tactical vision have actually moved LiveScore Group’s success and assisted form the industry’s instructions. LiveScoreBet has actually attained major 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 formerly functioned as the business’s Marketing and Operations Director because 2015. He signed up with Betway in 2013 and has remained in the online video gaming industry considering that 2000, sports betting holding numerous successful roles, consisting of General Manager of an information analytics team and sports betting Director of a digital marketing company.

Under Werkman’s leadership, Betway has continued to grow its market presence and improve 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 track record of changing start-ups into institutionalized organizations. Her know-how spans the gaming, realty, and sports betting credit financing industries, where he has established himself as a tactical and sports betting functional leader.

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

Before this, she was the Chief Operating Officer from 2010 to June 2019, pivotal in the company’s operational techniques and market expansion.

She established DearDammy Women’s Initiative (DDWIN), a non-profit organization empowering women-owned organizations. DDWIN offers frHer academic background consists of 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, established the business in 2009. While NairaBET was not the very first sports betting platform in Nigeria, it was the first to launch a completely functional site, setting a standard in the market.

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 actually established itself as one of the biggest bookmakers in Europe and the world. The business runs in more than 50 nations, consisting of Nigeria, where it is totally accredited.

Under Babalola’s management, 1XBET Nigeria has actually expanded its footprint in the competitive Nigerian sports betting wagering market, using a vast array of sports betting 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, sports betting Managing Director of KingMakers, and Chairman of Vend Capital. In addition to leading these endeavors, Ukanwoke has actually collaborated with African socio-economic institutions 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, founded and introduced in Nigeria on February 22, 2018, sports betting by Byron Petzer and Adekunle Adeniji, operates under the trademark name of Lake Ventures Ltd. This pan-African sports betting and entertainment business has actually rapidly grown its existence in Nigeria, with outlets in major cities and over 500,000 downloads on the Google Play Store.

In 2020, BetKing entered into a partnership with the Lagos Employment Trust Fund, producing over 100,000 tasks, the number of which is increasing every year. 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 creator, majority shareholder, and joint Chief Executive of Bet365, an online gaming company she established in 2000. Bet365.com was launched in 2001 as an online wagering site and has actually because become one of the world’s largest online gaming business.

By 2016, Bet365 created $2 billion in profits and facilitated $45 billion in yearly bets. The company also holds a majority stake in Stoke City Football Club. Bet365 has gathered 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 along with business person Kunle Soname, who likewise 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 creates financial investment returns and provides unique financial investment insights and options to both private 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 substantial player in the Nigerian sports betting wagering market.

Fikayo Ogunfuye – Country Director 22bet

Fikayo Ogunfuye is an experienced specialist in the sports betting industry. He has been serving as the Country Director for sports betting 22BET in Nigeria considering that June 2021. In this role, he has added to the business’s development through collaborations, organization technique, and new company advancement.

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

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

22Bet is an online sports betting platform that uses sports betting wagering, casino games, and live dealership video games. It was introduced in 2017 and is owned and run by Marikit Holdings Ltd, sports betting 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 business he developed in 2013.

SportyBet is an international sports betting and real-money gaming operator understood for delivering an omni-channel home entertainment experience in controlled 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 financier in fintech and mobile payments and a strong advocate for the growing African internet community. His investments show his dedication to promoting development and advancement within the region.

On April 30, 2024, Sudeep Ramnani invested in Chowdeck, participating 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 concentrated on revolutionising how millions of Africans engage with sports betting. In a market worth over $1.5 billion annual, with double-digit growth forecast in the coming years, according to reports from the African Sports Betting Association and PwC, the firm intends to utilize advanced technology and a commitment to responsible gaming to change the sector.

Backed by the monetary power of 4 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 wagering platform.

At a press rundown, the company’s spokesperson, Akin Babatunde, stated that the increase in Internet penetration, mobile use, and the continent’s deep enthusiasm for sports betting, sports betting especially football, has set the stage for Sunbet’s ambitious entry. He included that the company’s robust sponsorship and professional group will enable it to scale and control the marketplace quickly.

Islamic cops raid wagering shops in northern Nigeria

Islamic cops in Nigeria’s northern city of Kano have started shutting down sports betting wagering shops, sports betting which they state are running unlawfully.

“As you understand, wagering is forbidden in Islam,” Mujahid Aminudeen, deputy chief of the Sharia police force, referred to as the Hisbah, informed the BBC.

Problems from neighborhood leaders and parents prompted the crackdown, stressed over the growing variety of gambling addicts, he stated.

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

However Mr Aminudeen cautioned that now that the general public understood 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 – alongside secular law.

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

Nevertheless, the present crackdown is concentrated on Muslim locations of Kano, a sprawling city and the economic hub of northern Nigeria.

Sports betting shops can be found all over the city. Most have television screens, and consumers watch the result of global football matches or horse races on which they have staked money.

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

“They do not have licences to run as they were allowed to run computer game centres, which they later converted to wagering stores,” he stated.

The sports betting wagering market has actually expanded considerably across West Africa in recent years. The area is roughly divided in between a primarily Muslim north and a primarily Christian south.

Many individuals go to bookmakers to delight in the friendship of other gamblers, sports betting though mobile apps are likewise popular for sports betting on the outcome of events and groups.

Nigeria’s debilitating recession has actually also indicated people want to run the risk of a small amount in the hope of winning huge.

However this had led to prevalent addiction, sports betting and moms and dads were even grumbling that children were leaving of school to bet, Mr Aminudeen said.

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

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

“I am recommending 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 unclear what penalty they would deal with – typically, such violations carry a fine.

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