Betting Battles: Islamic Police Crackdown Intensify as Innovation Startup Challenges Nigeria’s Gaming Leaders

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

Gaming has actually evolved substantially in Nigeria from conventional types like pool staking and Baba Ijebu to a thriving sports betting wagering industry. Historically tied to European football leagues, swimming pool staking was a common sight at motor parks and kiosks, where lovers would bet as little as N50-N200 on matches.

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

Regardless of financial difficulties such as inflation, Nigeria’s sports betting wagering sector has thrived, attracting millions, especially among the vibrant market dealing with high unemployment rates.

Reports show that around 60 million Nigerians aged 18-40 actively participate in sports betting, driving an industry that creates an approximated yearly earnings of N730 billion. The federal government has not gone unnoticed by this growth, which is thinking about regulatory procedures like excise responsibilities and VAT increases to manage the sector.

The National Lottery Act of 2005 recognized regulative bodies like the National Lottery Regulatory Commission to ensure reasonable operations in spite of obstacles in enforcement. Concerns such as inadequate age confirmation and marketing guideline breaches show industry regulative spaces.

Regardless of these challenges, sports betting wagering companies continue to grow through efficient service models and aggressive marketing strategies, leveraging the creator influencer market.

These efforts have contributed to Nigeria’s robust $2 billion sports betting sector, with CEOs playing important functions in expanding audience reach and driving industry growth. Here are the CEOs of leading sports betting companies who have substantially added to Nigeria’s $2 billion gambling empire through their substantial audience reach.

Constable Olaniyan – CEO Surebet247

Constable Olaniyan is the CEO of Surebet247, a sports betting book company he co-founded with Badmos Olasupo in 2011. His diverse profession spans numerous functions in the gaming and entertainment industry, including working at one of the United Kingdom’s biggest video gaming centres, The Palace Bingo Club, sports betting 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 become a organization in the sports betting and gaming sector, running through online, mobile, sports betting and retail channels. The business was integrated in Nigeria on November 7, 2006, and has actually considering that broadened its existence, 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, sports betting a fully integrated ecosystem that integrates relevant sports betting content, engaging functions, and a world-class sportsbook.

Given that taking the helm just before the pandemic, Sam has driven substantial development for LiveScore Group. The business’s staff member headcount has increased by 29%, sports betting and yearly income has surged from approximately ₤ 10 million to over ₤ 80 million.

Sam’s management and tactical vision have actually moved LiveScore Group’s success and sports betting helped form the market’s instructions. LiveScoreBet has actually attained major user engagement, sports betting 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 formerly worked as the company’s Marketing and Operations Director since 2015. He joined Betway in 2013 and has been in the online video gaming market given that 2000, holding different successful functions, consisting of General Manager of a data analytics team and Director of a digital marketing agency.

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

Damilare Alabi, Co-Founder, Managing Director NairaBET

Damilare Alabi has actually identified herself as a senior executive with a track record of changing start-ups into institutionalized organizations. Her competence covers the video gaming, realty, and credit lending industries, sports betting where he has established himself as a tactical and functional leader.

Damilare has been instrumental in NairaBET’s success for over 14 years. Given that June 2019, she has actually served as Managing Director and has managed the business’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 business’s operational techniques and market expansion.

She established DearDammy Women’s Initiative (DDWIN), sports betting a non-profit company empowering women-owned companies. DDWIN offers frHer instructional 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 the business in 2009. While NairaBET was not the first sports betting wagering platform in Nigeria, it was the first to launch a fully functional site, setting a standard in the industry.

Femi Babalola- General Manager of 1Xbet Nigeria Limited

Femi Babalola is the Managing Director of 1XBET Nigeria Limited, sports betting a franchise of the global sports betting business 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 accredited.

Under Babalola’s management, 1XBET Nigeria has actually expanded its footprint in the competitive Nigerian sports betting wagering market, providing a wide range of sports betting choices and 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 actually teamed up with African socio-economic institutions and governments to create 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, sports betting founded and released in Nigeria on February 22, 2018, sports betting by Byron Petzer and Adekunle Adeniji, sports betting operates under the trademark name of Lake Ventures Ltd. This pan-African sports betting wagering and entertainment business has quickly grown its presence in Nigeria, sports betting with outlets in significant cities and over 500,000 downloads on the Google Play Store.

In 2020, sports betting BetKing entered into a collaboration with the Lagos Employment Trust Fund, creating over 100,000 jobs, the variety of which is increasing yearly. In the exact same year, MultiChoice broadcaster bought 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, sports betting majority investor, sports betting and joint Chief Executive of Bet365, an online gaming business she developed in 2000. Bet365.com was launched in 2001 as an online wagering website and has actually since grown into among the world’s biggest online sports betting business.

By 2016, Bet365 produced $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 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 company in Nigeria, established 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 possession management business that produces investment returns and offers unique investment insights and services to both specific and institutional customers.

Founded in 2012 under KC Gaming Networks, Bet9ja has rapidly grown in popularity, sports betting 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 wagering market.

Fikayo Ogunfuye – Country Director 22bet

Fikayo Ogunfuye is a seasoned expert in the sports betting wagering industry. He has been working as the Country Director for 22BET in Nigeria given that June 2021. In this function, he has contributed to the business’s development through partnerships, company strategy, and sports betting brand-new business advancement.

Fikayo’s experience consists of roles such as Chief Operations Officer (West Africa) at 22BET, where he handled item development and sports betting consumer experience, and Country Manager at 22BET, focusing on marketing technique and spending plan management. Before 22BET, sports betting he led marketing efforts at LuckyBet.NG and sports betting held different digital marketing functions at Laclic Services and Betty Bingo.

His career 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, and Operations from ESTG University in Cotonou, Benin Republic.

22Bet is an online gaming platform that provides sports betting, gambling establishment games, and live dealership games. It was introduced in 2017 and is owned and run by Marikit Holdings Ltd, a company signed up in Cyprus and sports betting 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, sports betting a company he developed in 2013.

SportyBet is a worldwide sports betting wagering and real-money video gaming operator understood for delivering an omni-channel home entertainment experience in regulated emerging markets. Under Ramnani’s management, SportyBet has ended up being a significant 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 sports betting the growing African web environment. His financial investments show his dedication to fostering innovation 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 interfere with the sports betting industry.

Sunbet Sporting International Limited has said it is concentrated on revolutionising how countless Africans engage with sports betting. In an industry worth over $1.5 billion yearly, sports betting with double-digit growth projection in the coming years, according to reports from the African Sports Betting Association and PwC, the firm aims to take advantage of cutting-edge technology and a commitment to accountable sports betting to change the sector.

Backed by the financial power of four prominent African billionaires, Sunbet, which will introduce in the very first quarter of 2025, aims to be the continent’s biggest and sports betting most ingenious sports betting wagering 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, especially football, has actually set the stage for sports betting Sunbet’s ambitious entry. He included that the company’s robust sponsorship and professional team will enable it to scale and dominate the marketplace rapidly.

Islamic authorities raid betting shops in northern Nigeria

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

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

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

On the very 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 said.

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

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

Bookies 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 existing crackdown is concentrated on Muslim locations of Kano, sports betting a sprawling city and the financial hub of northern Nigeria.

Sports betting 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 cash.

Mr Aminudeen stated such bookies had had the ability 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 video games centres, which they later on converted to wagering stores,” he stated.

The sports betting market has actually broadened significantly across West Africa over the last few years. The region is approximately divided in between a mainly Muslim north and a mainly Christian south.

Many people go to bookmakers to enjoy the camaraderie of other bettors, though mobile apps are also popular for sports betting on the outcome of occasions and teams.

Nigeria’s crippling recession has actually also indicated individuals are willing to risk a percentage in the hope of winning big.

But this had led to widespread dependency, and parents were even grumbling that kids were dropping out of school to bet, Mr Aminudeen said.

“These financial issues we are dealing with in Nigeria is God informing us to alter our ways by stopping sins,” he said.

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 stores to either shut down or we’ll jail them and take them to [a Sharia] court,” Mr Aminudeen said.

It is uncertain what penalty they would deal with – typically, such infringements 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 prohibited.