Betting Wars: Islamic Police Raids Intensify as Innovation Company Challenges Nigeria’s Gaming Giants

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

Gaming has progressed considerably in Nigeria from standard kinds like pool staking and sports betting Baba Ijebu to a growing sports betting wagering industry. Historically connected to European football leagues, pool staking was a common sight at motor parks and kiosks, where enthusiasts would wager as low as N50-N200 on matches.

Gradually, with increased web gain access to came virtual wagering, which parallels global patterns. 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 obstacles such as inflation, sports betting Nigeria’s sports betting wagering sector has actually flourished, drawing in millions, specifically amongst the youthful market dealing with high joblessness rates.

Reports show that approximately 60 million Nigerians aged 18-40 actively engage in sports betting, driving a market that produces a projected annual income of N730 billion. The federal government has actually not gone undetected by this growth, which is thinking about regulative measures like excise tasks and VAT increases to manage the sector.

The National Lottery Act of 2005 recognized regulative bodies like the National Lottery Regulatory Commission to ensure fair operations regardless of obstacles in enforcement. Problems such as insufficient age verification and marketing rule breaches show market regulatory gaps.

Despite these challenges, sports betting wagering business continue to flourish through effective company models and aggressive marketing techniques, leveraging the creator influencer industry.

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

Sheriff Olaniyan – CEO Surebet247

Sheriff is the CEO of Surebet247, a sports betting book company he co-founded with Badmos Olasupo in 2011. His diverse career covers numerous roles in the video gaming and entertainment industry, consisting of working at one of 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 become a leading e-commerce service in the sports betting and video gaming sector, operating through online, mobile, sports betting and retail channels. The business 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 sports betting brands and sports betting media. In 2019, he became the CEO of LiveScore Group, a completely incorporated environment that integrates relevant sports betting material, engaging functions, and a first-rate sportsbook.

Since taking the helm just before the pandemic, Sam has driven significant development for sports betting LiveScore Group. The company’s worker headcount has increased by 29%, and yearly earnings has actually risen from approximately ₤ 10 million to over ₤ 80 million.

Sam’s leadership and strategic vision have moved LiveScore Group’s success and helped form the market’s direction. LiveScoreBet has actually attained significant 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 actually previously served as the business’s Marketing and Operations Director given that 2015. He signed up with Betway in 2013 and has actually been in the online gaming market considering that 2000, holding various effective functions, consisting of General Manager of an information analytics group and Director of a digital marketing firm.

Under Werkman’s leadership, Betway has continued to grow its market existence and improve its offerings. The business’s app has actually amassed considerable 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 identified herself as a senior executive with a track record of changing start-ups into institutionalized services. Her expertise spans the video gaming, sports betting property, and credit financing industries, where he has actually established himself as a tactical and operational leader.

Damilare has been instrumental in NairaBET’s success for over 14 years. Considering that June 2019, she has functioned as Managing Director and has managed the business’s growth and operations in Lagos, Nigeria.

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

She founded DearDammy Women’s Initiative (DDWIN), a non-profit organization empowering women-owned businesses. DDWIN provides frHer academic 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, sports betting it was the first to introduce a totally functional site, 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 global sports betting wagering business 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 nations, including Nigeria, where it is completely certified.

Under Babalola’s leadership, 1XBET Nigeria has broadened its footprint in the competitive Nigerian sports betting market, using a wide variety of sports betting alternatives 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, Managing Director sports betting of KingMakers, and Chairman of Vend Capital. In addition to leading these endeavors, Ukanwoke has worked together with African socio-economic institutions and governments to develop developmental policies targeted at empowering young people. In 2015, sports betting 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, sports betting 2018, by Byron Petzer and Adekunle Adeniji, runs under the trademark name of Lake Ventures Ltd. This pan-African sports betting and sports betting entertainment business has actually quickly grown its presence in Nigeria, with outlets in significant cities and over 500,000 downloads on the Google Play Store.

In 2020, BetKing entered into a collaboration with the Lagos Employment Trust Fund, developing over 100,000 tasks, the number of which is increasing each year. In the 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, sports betting the creator, majority shareholder, and joint Chief Executive of Bet365, an online gaming company she established in 2000. Bet365.com was released in 2001 as an online sports betting site and has since become among the world’s biggest online sports betting business.

By 2016, Bet365 created $2 billion in earnings and facilitated $45 billion in yearly bets. The company likewise holds a bulk 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 sports betting co-founder of Bet9ja, a leading sports betting wagering company in Nigeria, developed alongside business owner Kunle Soname, who likewise owns Portuguese club CD Feirense and Nigerian club Remo Stars.

Ojuroye is also the Chairman of Mango Asset Management, an independent Nigerian possession management company that generates investment returns and uses unique investment insights and solutions to both individual and institutional customers.

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

Fikayo Ogunfuye – Country Director 22bet

Fikayo Ogunfuye is a skilled professional in the sports betting market. He has been working as the Country Director for 22BET in Nigeria given that June 2021. In this function, he has added to the company’s growth through partnerships, service method, and brand-new business development.

Fikayo’s experience includes functions such as Chief Operations Officer (West Africa) at 22BET, where he managed product development and consumer experience, and Country Manager at 22BET, concentrating on marketing strategy 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 profession began at Jumia Group, sports betting where he worked 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 provides sports betting wagering, gambling establishment video games, and live dealer video games. It was introduced in 2017 and is owned and operated by Marikit Holdings Ltd, sports betting a company registered in Cyprus and sports betting 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 an international sports betting wagering and sports betting real-money gaming operator known for sports betting delivering an omni-channel home entertainment experience in controlled emerging markets. Under Ramnani’s management, sports betting SportyBet has actually become a significant player in the market, 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 mobile payments and a strong supporter for the growing African web community. His investments show his commitment to fostering development and advancement within the region.

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

The firm is set to disrupt the sports wagering 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, sports betting 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 accountable sports betting to revolutionise the sector.

Backed by the financial power of 4 popular African billionaires, Sunbet, which will launch in the very first quarter of 2025, intends to be the continent’s biggest and most innovative sports betting wagering platform.

At a press instruction, the company’s representative, sports betting Akin Babatunde, said that the rise in Internet penetration, mobile use, and the continent’s deep enthusiasm for sports betting, specifically football, has set the stage for Sunbet’s enthusiastic entry. He added that the company’s robust financial backing and expert team will enable it to scale and dominate the market rapidly.

Islamic police raid betting shops in northern Nigeria

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

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

Complaints from neighborhood leaders and moms and dads prompted the crackdown, stressed over the growing variety of sports betting addicts, he said.

On the first day of raids, 30 stores were closed in one suburban area alone, sports betting and their owners were sent home with a warning, 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 rules would be arrested.

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

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

Nevertheless, the current crackdown is concentrated on Muslim locations of Kano, sports betting a sprawling city and the economic hub of northern Nigeria.

sports betting wagering shops can be discovered all over the city. A lot of have tv screens, and consumers see the result of international football matches or horse races on which they have actually staked cash.

Mr Aminudeen said such bookmakers had actually been able to run under the radar as they had actually opened under false pretences.

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

The sports betting wagering industry has actually broadened dramatically throughout West Africa over the last few years. The area is roughly divided between a primarily Muslim north and a mainly Christian south.

Many people go to bookmakers to enjoy the camaraderie of other bettors, though mobile apps are likewise popular for wagering on the outcome of occasions and groups.

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

But this had actually led to prevalent addiction, sports betting and parents were even complaining that children were dropping out of school to bet, Mr Aminudeen stated.

“These economic problems we are dealing with in Nigeria is God telling us to change our methods by stopping sins,” he stated.

The raids on Tuesday concentrated on Munjibir, considered 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 detain them and take them to [a Sharia] court,” Mr Aminudeen said.

It is uncertain what penalty they would face – typically, sports betting such infringements bring 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 intake of alcohol were prohibited.