Betting Battles: Islamic Police Crackdown Escalate as Innovation Company Challenges Nigeria’s Betting Giants

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

sports betting has actually evolved significantly in Nigeria from conventional forms like pool staking and sports betting Baba Ijebu to a successful sports betting industry. Historically connected to European football leagues, swimming pool staking was a common sight at motor parks and kiosks, where enthusiasts would bet as little as N50-N200 on matches.

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

Regardless of economic obstacles such as inflation, sports betting Nigeria’s sports betting wagering sector has actually prospered, bring in millions, especially amongst the youthful demographic dealing with high joblessness rates.

Reports suggest that roughly 60 million Nigerians aged 18-40 actively participate in sports betting wagering, sports betting driving a market that produces an estimated yearly earnings of N730 billion. The federal government has not gone unnoticed by this growth, sports betting which is thinking about regulatory measures like import tax tasks and VAT increases to handle the sector.

The National Lottery Act of 2005 established regulatory bodies like the National Lottery Regulatory Commission to ensure reasonable operations despite obstacles in enforcement. Issues such as insufficient age confirmation and advertising rule breaches reveal industry regulatory gaps.

Regardless of these challenges, sports betting wagering companies continue to prosper through reliable company models and sports betting aggressive marketing techniques, sports betting leveraging the developer influencer market.

These efforts have actually added to Nigeria’s robust $2 billion gaming sector, with CEOs playing important roles in expanding audience reach and driving industry growth. Here are the CEOs of leading sports betting companies who have actually considerably contributed to Nigeria’s $2 billion gaming empire through their substantial 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 numerous functions in the gaming and entertainment industry, consisting of operating at one of the United Kingdom’s largest video gaming centres, 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 turned into a leading e-commerce company in the sports betting and video gaming sector, running through online, sports betting mobile, and retail channels. The company was included in Nigeria on November 7, 2006, and has given that expanded its presence, attaining 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, sports betting a completely integrated community that combines pertinent sports betting content, engaging features, and a world-class sportsbook.

Since taking the helm prior to the pandemic, Sam has driven significant growth for sports betting LiveScore Group. The company’s staff member headcount has actually increased by 29%, and yearly income has actually risen from roughly ₤ 10 million to over ₤ 80 million.

Sam’s leadership and strategic vision have actually propelled LiveScore Group’s success and assisted form the market’s instructions. LiveScoreBet has achieved 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 actually formerly served as the company’s Marketing and sports betting Operations Director since 2015. He joined Betway in 2013 and has actually remained in the online gaming market given that 2000, holding different effective roles, sports betting consisting of General Manager of a data analytics team and Director of a digital marketing company.

Under Werkman’s management, Betway has continued to grow its market presence and boost 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 performance history of changing start-ups into institutionalized companies. Her expertise covers the video gaming, property, sports betting and credit loaning markets, where he has established himself as a strategic and functional leader.

Damilare has actually been instrumental in NairaBET’s success for over 14 years. Since June 2019, she has functioned as Managing Director and has overseen the business’s development and sports betting operations in Lagos, Nigeria.

Before this, she was the Chief Operating Officer from 2010 to June 2019, critical in the company’s operational methods and market growth.

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

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

Under Babalola’s management, 1XBET Nigeria has expanded its footprint in the competitive Nigerian sports betting wagering market, offering a wide variety of wagering choices and sports betting 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 endeavors, Ukanwoke has actually collaborated with African socio-economic institutions and sports betting 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 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 entertainment business has quickly grown its existence in Nigeria, with outlets in significant cities and over 500,000 downloads on the Google Play Store.

In 2020, sports betting BetKing entered into a partnership with the Lagos Employment Trust Fund, developing over 100,000 tasks, the variety of which is increasing each year. In the same year, MultiChoice broadcaster purchased a 20% stake in BetKing, sports betting 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 sports betting company she developed in 2000. Bet365.com was launched in 2001 as an online wagering website and has actually because become among the world’s biggest online gaming companies.

By 2016, Bet365 created $2 billion in earnings and helped with $45 billion in annual bets. The business also holds a majority stake in Stoke City Football Club. Bet365 has gathered 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 company in Nigeria, developed alongside businessman 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 produces investment returns and offers special investment insights and services to both specific and institutional clients.

Founded in 2012 under KC Gaming Networks, Bet9ja has rapidly grown in popularity, 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 wagering industry.

Fikayo Ogunfuye – Country Director 22bet

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

Fikayo’s experience consists of functions such as Chief Operations Officer (West Africa) at 22BET, where he advancement and customer experience, and 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 worked in SEO, CRM, and content management. Fikayo likewise 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 gambling platform that provides sports betting, gambling establishment video games, sports betting and live dealership video games. It was launched 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 gambling establishments worldwide.

Sudeep Ramnani– CEO Sportybet Group

Sudeep Ramnani is the Founder and CEO of SportyBet, sports betting a company he established in 2013.

SportyBet is an international sports betting and real-money gaming operator understood for delivering an omni-channel entertainment experience in managed emerging markets. Under Ramnani’s leadership, SportyBet has become a substantial player 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 supporter for the growing African internet ecosystem. His investments reflect his dedication to cultivating innovation and development 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 disrupt the sports betting industry.

Sunbet Sporting International Limited has stated it is concentrated on changing how countless Africans engage with sports betting. In an industry worth over $1.5 billion annual, with double-digit development forecast in the coming years, according to reports from the African Sports Betting Association and PwC, the company aims to utilize advanced technology and a commitment to accountable gambling to revolutionise the sector.

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

At a press instruction, the company’s representative, Akin Babatunde, stated that the increase in Internet penetration, sports betting mobile use, sports betting and sports betting the continent’s deep passion for sports betting, particularly football, sports betting has set the stage for Sunbet’s enthusiastic entry. He included that the firm’s robust sponsorship and specialist team will enable it to scale and control the market rapidly.

Islamic cops raid betting stores in northern Nigeria

Islamic authorities in Nigeria’s northern city of Kano have started shutting down sports betting wagering shops, which they say are running illegally.

„As you know, wagering is forbidden in Islam,“ Mujahid Aminudeen, deputy chief of the Sharia police, known as the Hisbah, told the BBC.

Complaints from neighborhood leaders and moms and sports betting dads prompted the crackdown, sports betting worried about the growing number of sports betting addicts, sports betting he said.

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

But Mr Aminudeen alerted that now that the general public was aware that the Hisbah was clamping down on gaming, those flouting the rules would be jailed.

Kano city is the capital of Kano state, sports betting which has a bulk Muslim population and sports betting runs the Islamic legal system – Sharia – alongside secular law.

Bookmakers and sports betting bars tend to be enabled to run in Kano’s Christian areas, though they too can deal with action if the Hisbah thinks Muslims are frequenting them.

Nevertheless, the current crackdown is focused 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. The majority of have tv screens, and clients see the outcome of worldwide football matches or horse races on which they have staked money.

Mr Aminudeen said such bookmakers had had the ability 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 computer game centres, which they later transformed to sports betting shops,“ he said.

The sports betting market has actually broadened considerably throughout West Africa recently. The region is approximately divided between a primarily Muslim north and a predominantly Christian south.

Many people go to bookies to enjoy the friendship of other gamblers, sports betting though mobile apps are likewise popular for wagering on the result of events and sports betting teams.

Nigeria’s crippling economic crisis has actually likewise suggested people are willing to run the risk of a percentage in the hope of winning big.

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

„These financial issues we are dealing with in Nigeria is God telling 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 jail them and take them to [a Sharia] court,“ Mr Aminudeen stated.

It is unclear what penalty they would deal with – 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, gambling and the intake of alcohol were banned.