The N2 Billion Sports Betting War: Industry Leaders Face Religious Crackdown As New Challenger Emerges

bet9ja.comMeet CEOs/MDs of business behind Nigeria's $2 billion Sports betting industry.


Gambling has evolved significantly in Nigeria from conventional types like pool staking and Baba Ijebu to a successful sports betting market. Historically tied to European football leagues, swimming pool staking was a typical sight at motor parks and kiosks, where lovers would bet as little as N50-N200 on matches.


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


Regardless of financial challenges such as inflation, Nigeria's sports betting wagering sector has actually grown, drawing in millions, particularly amongst the younger group dealing with high joblessness rates.


Reports suggest that around 60 million Nigerians aged 18-40 actively take part in sports betting, driving an industry that produces an estimated yearly earnings of N730 billion. The federal government has actually not gone undetected by this development, which is thinking about regulative measures like import tax responsibilities and VAT increases to handle the sector.


The National Lottery Act of 2005 regulative bodies like the National Lottery Regulatory Commission to guarantee reasonable operations in spite of challenges in enforcement. Concerns such as insufficient age confirmation and marketing rule breaches reveal market regulatory spaces.


Despite these difficulties, sports betting business continue to thrive through efficient company designs and aggressive marketing methods, leveraging the creator influencer industry.


These efforts have contributed to Nigeria's robust $2 billion gaming sector, with CEOs playing essential functions in expanding audience reach and driving industry growth. Here are the CEOs of leading sports betting business who have considerably contributed to Nigeria's $2 billion gambling empire through their substantial audience reach.


Sheriff Olaniyan - CEO Surebet247

Sheriff Olaniyan is the CEO of Surebet247, a sports betting book business he co-founded with Badmos Olasupo in 2011. His varied profession covers different roles in the gaming and show business, consisting of working at among the United Kingdom's largest 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 wagering and gaming sector, running through online, mobile, and retail channels. The business was included in Nigeria on November 7, 2006, and has actually considering 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 fully incorporated community that integrates relevant sports betting material, engaging features, and a first-rate sportsbook.


Because taking the helm prior to the pandemic, Sam has actually driven considerable growth for LiveScore Group. The company's staff member headcount has actually increased by 29%, and annual revenue has surged from approximately ₤ 10 million to over ₤ 80 million.


Sam's leadership and tactical vision have moved LiveScore Group's success and assisted form the market's direction. LiveScoreBet has attained major 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, having previously functioned as the company's Marketing and Operations Director considering that 2015. He joined Betway in 2013 and has actually been in the online video gaming market since 2000, holding various effective roles, consisting of General Manager of an information analytics team and Director of a digital marketing company.


Under Werkman's leadership, Betway has actually continued to grow its market presence and improve its offerings. The company's app has garnered 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 track record of changing start-ups into institutionalized organizations. Her expertise covers the video gaming, property, and credit lending industries, where he has actually developed himself as a strategic and operational leader.


Damilare has actually contributed in NairaBET's success for over 14 years. Because June 2019, she has actually acted as Managing Director and has actually supervised the company's development and operations in Lagos, Nigeria.


Before this, she was the Chief Operating Officer from 2010 to June 2019, critical in the company's operational strategies and market expansion.


She founded DearDammy Women's Initiative (DDWIN), a non-profit organization empowering women-owned services. DDWIN provides frHer educational background consists of 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, established business in 2009. While NairaBET was not the very first sports betting platform in Nigeria, it was the first to launch a fully functional site, setting a criteria 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 worldwide sports betting business based in Cyprus. 1XBET, founded in 2007 by the late Sergey Karshkov, has actually established itself as one of the biggest bookies in Europe and the world. The company runs in more than 50 nations, consisting of Nigeria, where it is totally accredited.


Under Babalola's management, 1XBET Nigeria has expanded its footprint in the competitive Nigerian sports betting market, offering 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 collaborated with African socio-economic organizations and governments to develop developmental policies targeted at empowering youths. In 2015, Ernst & & Young honoured him as the Winner of the Accelerating Category-- World Entrepreneur of the Year.


BetKing, established 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 wagering and home entertainment company 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, creating over 100,000 tasks, the variety of which is increasing each year. In the exact 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 creator, majority investor, and joint Chief Executive of Bet365, an online gambling business she established in 2000. Bet365.com was released in 2001 as an online sports betting website and has because grown into one of the world's largest online gaming companies.


By 2016, Bet365 produced $2 billion in earnings and assisted in $45 billion in annual bets. The company also holds a majority stake in Stoke City Football Club. Bet365 has amassed 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 business owner 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 asset management business that generates financial investment returns and sports betting offers unique financial investment insights and services to both private and institutional customers.


Founded in 2012 under KC Gaming Networks, Bet9ja has quickly 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 market.

Fikayo Ogunfuye - Country Director 22bet

Fikayo Ogunfuye is an experienced specialist in the sports betting wagering market. He has been functioning as the Country Director for 22BET in Nigeria given that June 2021. In this role, he has contributed to the business's growth through partnerships, business technique, and brand-new service advancement.


Fikayo's experience consists of functions such as Chief Operations Officer (West Africa) at 22BET, where he handled product development and consumer experience, and Country Manager at 22BET, concentrating on marketing strategy and budget 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 operated in SEO, CRM, and content management. Fikayo also functioned 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 sports betting platform that offers sports betting wagering, gambling establishment games, and live dealership games. It was released in 2017 and is owned and operated by Marikit Holdings Ltd, a business 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 a global sports betting wagering and real-money video gaming operator understood for delivering an omni-channel home entertainment experience in controlled emerging markets. Under Ramnani's management, SportyBet has actually become a substantial player in the market, 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 internet ecosystem. His financial investments show his dedication to promoting innovation and advancement within the area.


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

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


Sunbet Sporting International Limited has stated it is focused on revolutionising how millions of Africans engage with sports betting. In an industry 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 company intends to take advantage of cutting-edge technology and a commitment to responsible sports betting to revolutionise the sector.


Backed by the monetary power of four prominent African billionaires, Sunbet, which will release in the very first quarter of 2025, aims 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 passion for sports betting, particularly football, has set the stage for Sunbet's enthusiastic entry. He added that the company's robust financial backing and expert group will allow it to scale and control the marketplace quickly.




Islamic cops raid wagering shops in northern Nigeria


Islamic authorities in Nigeria's northern city of Kano have started shutting down sports betting shops, which they state are operating unlawfully.


"As you know, wagering is forbidden in Islam," Mujahid Aminudeen, deputy chief of the Sharia police, called the Hisbah, told the BBC.


Grievances from community leaders and moms and dads triggered the crackdown, worried about the growing number of gambling addicts, he stated.


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


But Mr Aminudeen cautioned that now that the general public was aware that the Hisbah was clamping down on sports betting, those flouting the guidelines would be detained.


Kano city is the capital of Kano state, which has a majority Muslim population and runs the Islamic legal system - Sharia - alongside nonreligious law.


Bookmakers and bars tend to be enabled to operate in Kano's Christian areas, though they too can face action if the Hisbah thinks Muslims are frequenting them.


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


Sports betting stores can be discovered all over the city. Many have television screens, and clients view the result of global 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 pretenses.


"They don't have licences to operate as they were permitted to run computer game centres, which they later converted to sports betting stores," he stated.


The sports betting wagering market has expanded dramatically across West Africa in the last few years. The region is approximately divided between a mainly Muslim north and a mainly Christian south.


Many individuals go to bookmakers to delight in the sociability of other bettors, though mobile apps are likewise popular for sports betting on the result of events and teams.


Nigeria's debilitating economic crisis has also meant individuals are willing to risk a percentage in the hope of winning huge.


But this had led to prevalent addiction, and moms and dads were even complaining that children were dropping out of school to bet, Mr Aminudeen stated.


"These financial issues we are dealing with in Nigeria is God telling us to change our methods 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 advising 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 uncertain what punishment they would deal with - frequently, such infringements carry a fine.


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