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Betting Battles: Islamic Police Crackdown Escalate as Innovation Startup Confronts Nigeria’s Gaming Leaders

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

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

Gradually, with increased web access came virtual wagering, which parallels international 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.

In spite of financial challenges such as inflation, Nigeria’s sports betting sector has thrived, attracting millions, sports betting especially among the vibrant group dealing with high joblessness rates.

Reports show that roughly 60 million Nigerians aged 18-40 actively engage in sports betting wagering, driving an industry that generates an approximated annual revenue of N730 billion. The federal government has actually not gone unnoticed by this development, which is thinking about regulative procedures like import tax tasks and sports betting VAT increases to manage the sector.

The National Lottery Act of 2005 recognized regulatory bodies like the National Lottery Regulatory Commission to make sure fair operations in spite of difficulties in enforcement. Problems such as inadequate age verification and marketing guideline breaches show industry regulative gaps.

In spite of these challenges, sports betting wagering business continue to grow through efficient company designs and methods, leveraging the developer influencer industry.

These efforts have added to Nigeria’s robust $2 billion sports betting sector, with CEOs playing essential functions in expanding audience reach and driving market development. Here are the CEOs of leading sports betting companies who have significantly contributed to Nigeria’s $2 billion sports betting empire through their comprehensive audience reach.

Constable Olaniyan – CEO Surebet247

Sheriff Olaniyan is the CEO of Surebet247, a sports betting book business he co-founded with Badmos Olasupo in 2011. His diverse career covers different roles in the video gaming and entertainment industry, including working at among the United Kingdom’s largest gaming centres, The Palace Bingo Club, sports betting 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, Wales. Surebet247, founded in August 2011, sports betting has actually turned into a leading e-commerce organization in the wagering and gaming sector, sports betting running through online, mobile, sports betting and retail channels. The company was incorporated in Nigeria on November 7, 2006, and has given that expanded its presence, 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 ended up being the CEO of LiveScore Group, a totally incorporated community that integrates appropriate sports betting content, engaging functions, and a first-rate sportsbook.

Considering that taking the helm prior sports betting to the pandemic, Sam has driven considerable growth for LiveScore Group. The company’s employee headcount has increased by 29%, sports betting and yearly earnings has risen from approximately ₤ 10 million to over ₤ 80 million.

Sam’s management and strategic vision have actually moved LiveScore Group’s success and assisted form the market’s direction. LiveScoreBet has actually accomplished 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 actually formerly worked as the business’s Marketing and Operations Director considering that 2015. He signed up with Betway in 2013 and sports betting has been in the online gaming industry given that 2000, holding numerous effective roles, consisting of General Manager of an information analytics team and Director of a digital marketing company.

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

Damilare Alabi, Co-Founder, Managing Director NairaBET

Damilare Alabi has actually distinguished herself as a senior executive with a track record of transforming start-ups into institutionalized organizations. Her knowledge covers the video gaming, realty, and credit loaning industries, sports betting where he has developed himself as a strategic and operational leader.

Damilare has contributed in NairaBET’s success for over 14 years. Considering that June 2019, she has actually worked as Managing Director and has supervised the business’s development and operations in Lagos, Nigeria.

Before this, sports betting she was the Chief Operating Officer from 2010 to June 2019, critical in the business’s functional techniques and market expansion.

She established DearDammy Women’s Initiative (DDWIN), a non-profit company empowering women-owned services. DDWIN offers frHer instructional 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, Nigeria’s pioneering sports betting bookmaking company, developed the business in 2009. While NairaBET was not the first sports betting platform in Nigeria, it was the very first to introduce a totally practical site, setting a benchmark in the market.

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 wagering company based in Cyprus. 1XBET, founded in 2007 by the late Sergey Karshkov, has developed itself as one of the largest bookmakers in Europe and the world. The company runs in more than 50 countries, including Nigeria, where it is completely accredited.

Under Babalola’s leadership, 1XBET Nigeria has actually broadened its footprint in the competitive Nigerian sports betting market, offering a large range of sports betting 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 federal 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, founded and released in Nigeria on February 22, 2018, by Byron Petzer and Adekunle Adeniji, operates under the trademark name of Lake Ventures Ltd. This pan-African sports betting wagering and entertainment company has rapidly grown its existence 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, creating over 100,000 jobs, the number of which is increasing each year. In the very 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 founder, bulk shareholder, and sports betting joint Chief Executive of Bet365, sports betting an online sports betting company she developed in 2000. Bet365.com was launched in 2001 as an online sports betting website and has because turned into one of the world’s largest online gaming companies.

By 2016, Bet365 produced $2 billion in revenues and helped with $45 billion in annual bets. The company likewise holds a majority stake in Stoke City Football Club. Bet365 has gathered significant 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, sports betting a leading sports betting business in Nigeria, developed alongside businessman Kunle Soname, who also owns Portuguese club CD Feirense and Nigerian club Remo Stars.

Ojuroye is likewise the Chairman of Mango Asset Management, an independent Nigerian property management company that creates investment returns and provides distinct investment insights and services to both specific and institutional customers.

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

Fikayo Ogunfuye – Country Director 22bet

Fikayo Ogunfuye is a skilled specialist in the sports betting market. He has actually been serving as the Country Director for 22BET in Nigeria considering that June 2021. In this role, he has actually added to the business’s development through partnerships, organization strategy, and new organization advancement.

Fikayo’s experience includes functions such as Chief Operations Officer (West Africa) at 22BET, where he handled item development and customer experience, and Country Manager at 22BET, focusing on marketing strategy and budget management. Before 22BET, he led marketing efforts at LuckyBet.NG and sports betting 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 also acted 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, sports betting and sports betting Operations from ESTG University in Cotonou, Benin Republic.

22Bet is an online gambling platform that provides sports betting, casino video games, and live dealer games. It was launched 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 gambling establishments worldwide.

Sudeep Ramnani– CEO Sportybet Group

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

SportyBet is a worldwide sports betting and real-money video gaming operator understood for providing an omni-channel entertainment experience in managed emerging markets. Under Ramnani’s leadership, SportyBet has actually ended up being a substantial gamer in the industry, with over 1 million downloads on the Google Play Store.

In addition to his role at SportyBet, Sudeep is an active investor in fintech and sports betting mobile payments and a strong supporter for the growing African web environment. His investments reflect his commitment to promoting innovation and development within the area.

On April 30, 2024, Sudeep Ramnani invested in Chowdeck, sports betting taking part in a seed round valued at $2.5 million.

The company is set to interfere with the sports betting industry.

Sunbet Sporting International Limited has stated it is concentrated on changing how millions of 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 firm aims to take advantage of innovative technology and sports betting a dedication to responsible gaming to change the sector.

Backed by the financial power of four popular African billionaires, Sunbet, which will introduce in the very first quarter of 2025, aims to be the continent’s biggest and most innovative sports betting wagering platform.

At a press rundown, the company’s spokesperson, Akin Babatunde, said that the rise in Internet penetration, mobile usage, and the continent’s deep enthusiasm for sports betting, especially football, has set the stage for Sunbet’s enthusiastic entry. He included that the firm’s robust sponsorship and professional team will enable it to scale and dominate the marketplace rapidly.

Islamic cops raid wagering stores in northern Nigeria

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

Grievances from neighborhood leaders and sports betting moms and dads triggered the crackdown, sports betting fretted about the growing variety of sports betting addicts, sports betting 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, sports betting the Sharia officer said.

However Mr Aminudeen cautioned that now that the public was aware that the Hisbah was clamping down on sports betting, those flouting the rules 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.

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

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

Sports betting stores can be discovered all over the city. A lot of have tv screens, and consumers view the result of international football matches or horse races on which they have actually staked money.

Mr Aminudeen said such bookmakers had actually had the ability to operate under the radar as they had actually opened under false pretenses.

“They don’t have licences to run as they were allowed to run video games centres, which they later on converted to wagering shops,” he said.

The sports betting industry has actually expanded drastically across West Africa over the last few years. The area is approximately divided in between a primarily Muslim north and a predominantly Christian south.

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

Nigeria’s crippling economic crisis has likewise indicated individuals want to risk a small amount in the hope of winning big.

But this had led to widespread addiction, and sports betting moms and dads were even grumbling that kids were dropping out of school to gamble, Mr Aminudeen stated.

“These economic issues we are facing in Nigeria is God informing 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 detain them and take them to [a Sharia] court,” Mr Aminudeen stated.

It is unclear what penalty they would deal with – frequently, such infringements carry a fine.

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