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Gaming Leaders Under Scrutiny: Fresh Player Emerges as North Nigeria Intensifies Betting Restrictions

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

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

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

In spite of economic obstacles such as inflation, Nigeria’s sports betting sector has actually prospered, attracting millions, specifically amongst the youthful market facing high joblessness rates.

Reports show that roughly 60 million Nigerians aged 18-40 actively take part in sports betting, driving an industry that produces an approximated annual revenue of N730 billion. The federal government has not gone unnoticed by this growth, which is considering regulative steps like import tax duties and VAT boosts to handle the sector.

The National Lottery Act of 2005 established regulative bodies like the National Lottery Regulatory Commission to ensure fair operations regardless of obstacles in enforcement. Problems such as inadequate age verification and sports betting marketing rule breaches show market regulatory gaps.

Regardless of these challenges, sports betting business continue to grow through efficient company models and aggressive marketing techniques, leveraging the creator influencer industry.

These efforts have actually contributed to Nigeria’s robust $2 billion sports betting sector, with CEOs playing vital functions in broadening audience reach and driving industry growth. Here are the CEOs of leading sports betting business who have actually significantly contributed to Nigeria’s $2 billion gambling empire through their extensive audience reach.

Sheriff 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 video gaming and entertainment industry, including working at one of the United Kingdom’s biggest video gaming centres, The Palace Bingo Club, where he served 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 actually grown into a leading e-commerce business in the sports betting and gaming sector, running through online, mobile, and retail channels. The company was incorporated in Nigeria on November 7, 2006, and has given that expanded 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 became the CEO of LiveScore Group, a completely integrated community that integrates pertinent sports betting content, engaging features, and a first-rate sportsbook.

Because taking the helm just before the pandemic, Sam has driven significant development for LiveScore Group. The business’s staff member headcount has actually increased by 29%, and annual revenue has surged from roughly ₤ 10 million to over ₤ 80 million.

Sam’s management and strategic vision have propelled LiveScore Group’s success and assisted shape the market’s instructions. LiveScoreBet has accomplished major sports betting 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 previously worked as the business’s Marketing and Operations Director considering that 2015. He joined Betway in 2013 and has remained in the online video gaming market considering that 2000, holding numerous successful functions, consisting of General Manager of a data analytics team and Director of a digital marketing agency.

Under Werkman’s management, Betway has actually continued to grow its market presence and improve its offerings. The company’s app has actually gathered significant user engagement, with over 100,000 downloads on the Google Play Store.

Damilare Alabi, Co-Founder, Managing Director NairaBET

Damilare Alabi has distinguished herself as a senior executive with a performance history of changing start-ups into institutionalized services. Her know-how spans the video gaming, realty, and credit financing markets, where he has established himself as a tactical and functional leader.

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

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

She established DearDammy Women’s Initiative (DDWIN), a non-profit organization empowering women-owned businesses. DDWIN supplies frHer academic background consists of a Bachelor’s degree in Geology/Earth Science from the University of Ibadan, completed in 2005.

Akin Alabi, the creator sports betting of NairaBET.com, Nigeria’s pioneering sports betting bookmaking company, established business in 2009. While NairaBET was not the first sports betting wagering platform in Nigeria, it was the very first to introduce a completely functional site, setting a standard 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 global sports betting business based in Cyprus. 1XBET, founded in 2007 by the late Sergey Karshkov, has established itself as one of the biggest bookmakers in Europe and the world. The company runs in more than 50 countries, including Nigeria, where it is completely accredited.

Under Babalola’s management, 1XBET Nigeria has actually broadened its footprint in the competitive Nigerian sports betting market, offering a vast array of wagering options and sports betting 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 Chairman of Vend Capital. In addition to leading these endeavors, Ukanwoke has collaborated with African socio-economic institutions and governments to design developmental policies aimed at empowering youths. In 2015, Ernst & & Young honoured him as the Winner of the Accelerating Category– World Entrepreneur of the Year.

BetKing, sports betting established and released in Nigeria on February 22, 2018, by Byron Petzer and Adekunle Adeniji, operates under the brand name of Lake Ventures Ltd. This pan-African sports betting wagering and entertainment company has actually quickly 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, developing over 100,000 jobs, the variety of which is increasing every year. In the exact 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, bulk investor, and joint Chief Executive of Bet365, an online gambling business she established in 2000. Bet365.com was introduced in 2001 as an online sports betting website and has considering that become among the world’s biggest online sports betting companies.

By 2016, Bet365 generated $2 billion in earnings and assisted in $45 billion in yearly bets. The business also holds a bulk stake in Stoke City Football Club. Bet365 has actually 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 co-founder of Bet9ja, a leading sports betting wagering business in Nigeria, established alongside 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 business that creates investment returns and uses distinct investment insights and options to both private and institutional clients.

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

Fikayo Ogunfuye – Country Director 22bet

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

Fikayo’s experience includes functions such as Chief Operations Officer (West Africa) at 22BET, where he handled product advancement and consumer experience, sports betting and sports betting 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 functions at Laclic Services and Betty Bingo.

His career started at Jumia Group, where he operated in SEO, 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, and Operations from ESTG University in Cotonou, Benin Republic.

22Bet is an online gambling platform that offers sports betting, casino video games, and live dealer games. It was released in 2017 and is owned and run by Marikit Holdings Ltd, a company 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 is the Founder and CEO of SportyBet, a company he developed in 2013.

SportyBet is an international sports betting and real-money gaming operator understood for providing an omni-channel entertainment experience in controlled emerging markets. Under Ramnani’s leadership, SportyBet has become a substantial 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 investor in fintech and mobile payments and a strong supporter for the growing African web community. His investments show his dedication to fostering development and advancement within the area.

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

The company is set to disrupt the sports wagering market.

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

Backed by the monetary power of 4 prominent African billionaires, Sunbet, sports betting which will release in the very first quarter of 2025, aims to be the continent’s biggest and most innovative sports betting platform.

At a press instruction, the company’s representative, Akin Babatunde, said that the rise in Internet penetration, sports betting mobile use, and the continent’s deep enthusiasm for sports betting, especially football, has set the stage for Sunbet’s enthusiastic entry. He included that the company’s robust sponsorship and specialist group will allow it to scale and dominate the marketplace quickly.

Islamic authorities raid wagering shops in northern Nigeria

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

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

Problems from neighborhood leaders and parents triggered the crackdown, fretted about the growing number of gambling addicts, he said.

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

However Mr Aminudeen alerted that now that the general public understood that the Hisbah was clamping down on gambling, sports betting those flouting the guidelines would be apprehended.

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

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

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

sports betting wagering shops can be discovered all over the city. Many have tv screens, and customers view the outcome of worldwide football matches or horse races on which they have actually staked money.

Mr Aminudeen stated such bookies had actually had the ability to operate under the radar as they had opened under false pretences.

“They do not have licences to run as they were permitted to run computer game centres, which they later on converted to sports betting shops,” he said.

The sports betting wagering market has expanded significantly across West Africa recently. The region is roughly divided between a primarily Muslim north and a mainly Christian south.

Lots of people go to bookies to take pleasure in the friendship of other bettors, though mobile apps are likewise popular for wagering on the outcome of occasions and groups.

Nigeria’s crippling economic crisis has likewise implied people want to risk a small amount in the hope of winning huge.

However this had actually resulted in prevalent addiction, sports betting and moms and dads were even complaining that kids were dropping out of school to gamble, Mr Aminudeen stated.

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

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 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 deal with – typically, such infringements carry a fine.

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