Breaking the House: Fresh Firm Confronts Status Quo as Islamic Police Target Betting Shops

Meet CEOs/MDs of companies behind Nigeria’s $2 billion Sports betting market.

Gambling has actually progressed substantially in Nigeria from traditional kinds like pool staking and Baba Ijebu to a growing sports betting industry. Historically tied to European football leagues, swimming pool staking was a typical sight at motor parks and kiosks, where lovers would bet as low as N50-N200 on matches.

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

In spite of financial obstacles such as inflation, sports betting Nigeria’s sports betting wagering sector has flourished, attracting millions, especially amongst the younger group dealing with high unemployment rates.

Reports suggest that approximately 60 million Nigerians aged 18-40 actively take part in sports betting, driving an industry that an estimated annual earnings of N730 billion. The federal government has actually not gone undetected by this growth, sports betting which is considering regulatory procedures like excise tasks and VAT increases to handle the sector.

The National Lottery Act of 2005 established regulative bodies like the National Lottery Regulatory Commission to make sure reasonable operations in spite of challenges in enforcement. Problems such as inadequate age confirmation and marketing rule breaches reveal industry regulative gaps.

In spite of these difficulties, sports betting companies continue to flourish through effective business designs and aggressive marketing strategies, sports betting leveraging the developer influencer market.

These efforts have added to Nigeria’s robust $2 billion gaming sector, with CEOs playing important functions in expanding audience reach and driving market development. Here are the CEOs of leading sports betting wagering business 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 business he co-founded with Badmos Olasupo in 2011. His varied profession spans different functions in the gaming and show business, consisting of operating at among the United Kingdom’s largest video gaming centres, The Palace Bingo Club, where he worked as the Lead Engineer in a Bingo and sports betting 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 become a leading e-commerce organization in the sports betting and gaming sector, running through online, mobile, and retail channels. The business was included in Nigeria on November 7, 2006, and has actually given 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 sports betting brands and sports betting media. In 2019, he became the CEO of LiveScore Group, a totally integrated ecosystem that combines relevant sports betting content, engaging functions, and a world-class sportsbook.

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

Sam’s leadership and tactical vision have actually moved LiveScore Group’s success and assisted form the industry’s instructions. LiveScoreBet has actually accomplished major user engagement, 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 previously worked as the company’s Marketing and Operations Director given that 2015. He signed up with Betway in 2013 and has actually been in the online gaming industry since 2000, holding different successful functions, consisting of General Manager of an information analytics group and Director of a digital marketing company.

Under Werkman’s management, Betway has continued to grow its market existence and boost its offerings. The business’s app has gathered considerable 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 companies. Her competence covers the gaming, real estate, and credit lending industries, sports betting where he has actually established himself as a strategic and functional leader.

Damilare has actually contributed in NairaBET’s success for over 14 years. Given that June 2019, she has actually functioned 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, sports betting pivotal in the company’s functional methods and market growth.

She established DearDammy Women’s Initiative (DDWIN), sports betting a non-profit company empowering women-owned organizations. DDWIN provides frHer academic background includes a Bachelor’s degree in Geology/Earth Science from the University of Ibadan, finished in 2005.

Akin Alabi, the founder of NairaBET.com, sports betting Nigeria’s pioneering sports betting bookmaking business, established business in 2009. While NairaBET was not the very first sports betting wagering platform in Nigeria, it was the very first to launch a completely functional website, setting a criteria 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 international sports betting wagering company based in Cyprus. 1XBET, founded in 2007 by the late Sergey Karshkov, has developed itself as one of the biggest bookmakers in Europe and the world. The company runs in more than 50 nations, consisting of Nigeria, where it is fully licensed.

Under Babalola’s leadership, 1XBET Nigeria has broadened its footprint in the competitive Nigerian sports betting market, offering a vast array of wagering choices and an easy to use 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, sports betting Managing Director of KingMakers, and Chairman of Vend Capital. In addition to leading these ventures, Ukanwoke has worked together with African socio-economic institutions and federal governments to develop 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 trademark name of Lake Ventures Ltd. This pan-African sports betting wagering and entertainment company has actually rapidly grown its presence in Nigeria, with outlets in major cities and over 500,000 downloads on the Google Play Store.

In 2020, BetKing participated in a collaboration with the Lagos Employment Trust Fund, developing over 100,000 tasks, the number of which is increasing each 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 creator, bulk shareholder, and joint Chief Executive of Bet365, an online gambling business she developed in 2000. Bet365.com was launched in 2001 as an online sports betting website and has actually considering that grown 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 business likewise holds a majority 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 sports betting co-founder of Bet9ja, a leading sports betting wagering business in Nigeria, established together with business person 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 company that generates financial investment returns and offers distinct investment insights and options to both specific and institutional customers.

Founded in 2012 under KC Gaming Networks, sports betting Bet9ja has actually quickly grown in popularity, with over 1 million downloads on the Google Play Store. Under Ojuroye’s leadership, Bet9ja has ended up being a substantial player in the Nigerian sports betting industry.

Fikayo Ogunfuye – Country Director 22bet

Fikayo Ogunfuye is a skilled specialist in the sports betting market. He has been acting as the Country Director for 22BET in Nigeria considering that June 2021. In this function, he has actually added to the business’s development through collaborations, organization method, and brand-new company advancement.

Fikayo’s experience consists of roles such as Chief Operations Officer (West Africa) at 22BET, where he handled product advancement and customer experience, and Country Manager at 22BET, focusing on marketing technique and budget management. Before 22BET, he led marketing efforts at LuckyBet.NG and held numerous digital marketing roles at Laclic Services and Betty Bingo.

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

22Bet is an online sports betting platform that offers sports betting wagering, gambling establishment games, and live dealership video games. It was launched in 2017 and is owned and operated by Marikit Holdings Ltd, a company registered in Cyprus and 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 business he established in 2013.

SportyBet is an international sports betting wagering and real-money video gaming operator known for delivering an omni-channel home entertainment experience in regulated emerging markets. Under Ramnani’s leadership, SportyBet has actually ended up being 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 advocate for the growing African web ecosystem. His financial investments show his commitment to fostering innovation and development within the region.

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

The company is set to interrupt the sports wagering industry.

Sunbet Sporting International Limited has stated it is concentrated on changing how countless Africans engage with sports betting. In a market worth over $1.5 billion yearly, with double-digit growth projection in the coming years, sports betting according to reports from the African Sports Betting Association and PwC, the company intends to utilize advanced innovation and a commitment to responsible gaming to change the sector.

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

At a press briefing, the company’s spokesperson, sports betting Akin Babatunde, said that the increase in Internet penetration, mobile usage, and the continent’s deep enthusiasm for sports betting, particularly football, sports betting has set the stage for Sunbet’s enthusiastic entry. He included that the company’s robust financial backing and sports betting specialist group will allow it to scale and control the market quickly.

Islamic police raid betting shops in northern Nigeria

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

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

Problems from community leaders and moms and dads triggered the crackdown, worried about the growing variety of sports betting addicts, he stated.

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

However Mr Aminudeen alerted that now that the public knew that the Hisbah was clamping down on gaming, those flouting the guidelines would be detained.

Kano city is the capital of Kano state, sports betting which has a bulk 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 face action if the Hisbah thinks Muslims are frequenting them.

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

sports betting wagering stores can be found all over the city. Most have television screens, and consumers enjoy the result of worldwide football matches or horse races on which they have staked money.

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

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

The sports betting market has broadened considerably across West Africa in the last few years. The area is approximately divided in between a primarily Muslim north and a mainly Christian south.

Many individuals go to bookmakers to delight in the sociability of other gamblers, though mobile apps are also popular for sports betting on the result of occasions and groups.

Nigeria’s debilitating recession has also meant individuals want to run the risk of a percentage in the hope of winning huge.

But this had actually caused widespread addiction, sports betting and moms and sports betting dads were even grumbling that kids were leaving of school to gamble, Mr Aminudeen said.

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

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

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

It is unclear what punishment they would face – typically, such infringements carry a fine.

Sharia was introduced in Kano in 2000 – as it was in 11 other Muslim-majority northern states – and prostitution, sports betting and sports betting the usage of alcohol were prohibited.