Betting Wars: Hisbah Police Crackdown Intensify as Innovation Company Challenges Nigeria’s Betting Leaders

Meet CEOs/MDs of business behind Nigeria’s $2 billion Sports wagering industry.

sports betting has developed substantially in Nigeria from standard kinds like pool staking and Baba Ijebu to a flourishing sports betting wagering industry. Historically tied to European football leagues, swimming pool staking was a common sight at motor parks and kiosks, where enthusiasts would wager just N50-N200 on matches.

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

In spite of economic obstacles such as inflation, Nigeria’s sports betting sector has flourished, drawing in millions, especially amongst the youthful market dealing with high unemployment rates.

Reports indicate that roughly 60 million Nigerians aged 18-40 actively engage in sports betting wagering, driving an industry that generates an approximated annual earnings of N730 billion. The federal government has not gone unnoticed by this development, which is considering regulatory measures like import tax tasks and 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 challenges in enforcement. Problems such as inadequate age confirmation and advertising rule breaches reveal market regulatory spaces.

Regardless of these challenges, sports betting companies continue to thrive through efficient organization models and sports betting aggressive marketing methods, leveraging the developer influencer market.

These efforts have contributed to Nigeria’s robust $2 billion sports betting sector, with CEOs playing crucial roles in broadening audience reach and sports betting 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 comprehensive audience reach.

Sheriff Olaniyan – CEO Surebet247

Constable Olaniyan is the CEO of Surebet247, a sports betting book business he co-founded with Badmos Olasupo in 2011. His varied career covers different roles in the gaming and show business, 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, Wales. Surebet247, founded in August 2011, has actually grown into a leading e-commerce service in the sports betting and gaming sector, running through online, mobile, and retail channels. The business was included in Nigeria on November 7, 2006, sports betting and has actually since 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 became the CEO of LiveScore Group, a totally incorporated community that integrates relevant sports betting content, engaging features, and a first-rate sportsbook.

Considering that taking the helm prior to the pandemic, Sam has driven substantial growth for LiveScore Group. The company’s employee headcount has increased by 29%, and annual earnings has surged 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 industry’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 designated CEO of Betway in November 2017, having formerly worked as the company’s Marketing and Operations Director because 2015. He signed up with Betway in 2013 and sports betting has actually remained in the online video gaming industry considering that 2000, holding various effective functions, consisting of General Manager of an information analytics team and Director of a digital marketing agency.

Under Werkman’s management, Betway has continued to grow its market presence and boost its offerings. The company’s app has actually gathered considerable user engagement, 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 performance history of transforming start-ups into institutionalized companies. Her know-how covers the gaming, sports betting property, and sports betting credit financing industries, sports betting where he has developed himself as a strategic and operational leader.

Damilare has been instrumental in NairaBET’s success for sports betting over 14 years. Because June 2019, sports betting 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 methods and market expansion.

She founded DearDammy Women’s Initiative (DDWIN), a non-profit organization empowering women-owned businesses. DDWIN provides frHer educational 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 business in 2009. While NairaBET was not the first sports betting wagering platform in Nigeria, it was the very first to introduce a completely functional site, sports betting 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 international sports betting wagering company based in Cyprus. 1XBET, founded in 2007 by the late Sergey Karshkov, sports betting has developed itself as one of the biggest bookmakers in Europe and the world. The company operates in more than 50 nations, sports betting including Nigeria, where it is completely accredited.

Under Babalola’s management, 1XBET Nigeria has actually broadened its footprint in the competitive Nigerian sports betting wagering market, providing a wide variety of sports betting options and an easy to use 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 teamed up with African socio-economic institutions and governments to design 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, founded and launched in Nigeria on February 22, 2018, by Byron Petzer and Adekunle Adeniji, runs under the trademark name of Lake Ventures Ltd. This pan-African sports betting and home entertainment business has actually quickly grown its presence 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, producing over 100,000 tasks, the variety of which is increasing every 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 founder, majority shareholder, and joint Chief Executive of Bet365, an online gaming company she established in 2000. Bet365.com was introduced in 2001 as an online wagering site and has given that grown into one of the world’s biggest online gambling companies.

By 2016, Bet365 created $2 billion in profits and facilitated $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, a leading sports betting wagering business in Nigeria, developed together with business person Kunle Soname, who likewise owns Portuguese club CD Feirense and Nigerian club Remo Stars.

Ojuroye is likewise the Chairman of Mango Asset Management, an independent Nigerian asset management company that creates financial investment returns and offers unique financial investment insights and solutions to both private and institutional clients.

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 become a considerable gamer in the Nigerian sports betting wagering industry.

Fikayo Ogunfuye – Country Director 22bet

Fikayo Ogunfuye is an experienced expert in the sports betting wagering industry. He has been acting as the Country Director for 22BET in Nigeria considering that June 2021. In this function, sports betting he has added to the company’s development through partnerships, business strategy, and brand-new organization development.

Fikayo’s experience consists of functions such as Chief Operations Officer (West Africa) at 22BET, where he managed product advancement and consumer experience, and Country Manager at 22BET, concentrating on marketing technique and budget plan management. Before 22BET, he led marketing efforts at LuckyBet.NG and held different digital marketing roles at Laclic Services and Betty Bingo.

His career started at Jumia Group, sports betting where he operated in SEO, CRM, and sports betting 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, sports betting Management, and sports betting Operations from ESTG University in Cotonou, Benin Republic.

22Bet is an online gambling platform that offers sports betting wagering, casino video games, and live dealer video games. It was introduced in 2017 and is owned and sports betting operated by Marikit Holdings Ltd, a company 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 company he developed in 2013.

SportyBet is a wagering and sports betting real-money gaming operator known for delivering an omni-channel entertainment experience in managed emerging markets. Under Ramnani’s leadership, SportyBet has actually ended up being a significant gamer 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 environment. His financial investments show his commitment to promoting development and development within the region.

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

The firm is set to interrupt the sports wagering 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 yearly, with double-digit growth projection in the coming years, according to reports from the African Sports Betting Association and PwC, the firm aims to utilize innovative innovation and a commitment to accountable gambling to revolutionise the sector.

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

At a press rundown, the business’s representative, Akin Babatunde, stated that the rise in Internet penetration, mobile usage, and sports betting the continent’s deep enthusiasm for sports betting, particularly football, has actually set the stage for Sunbet’s ambitious entry. He included that the company’s robust sponsorship and expert team will allow it to scale and dominate the market rapidly.

Islamic cops raid betting stores in northern Nigeria

Islamic authorities in Nigeria’s northern city of Kano have begun closing down sports betting wagering stores, which they state are operating illegally.

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

Grievances from neighborhood leaders and parents prompted the crackdown, stressed over the growing number of sports betting addicts, he said.

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

However Mr Aminudeen warned that now that the public understood that the Hisbah was clamping down on gaming, those flouting the guidelines would be arrested.

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

Bookies and bars tend to be enabled to operate in Kano’s Christian areas, though they too can deal with action if the Hisbah believes Muslims are frequenting them.

However, the present crackdown is concentrated on Muslim locations of Kano, a vast city and the economic hub of northern Nigeria.

sports betting wagering shops can be found all over the city. The majority of have television screens, and customers view the outcome of international football matches or sports betting horse races on which they have actually staked money.

Mr Aminudeen said such bookies had actually been able to operate under the radar as they had opened under false pretenses.

“They do not have licences to operate as they were permitted to run computer game centres, which they later on converted to sports betting shops,” he stated.

The sports betting wagering industry has broadened significantly throughout West Africa recently. The area is approximately divided between a primarily Muslim north and a predominantly Christian south.

Many individuals go to bookies to take pleasure in the friendship of other bettors, though mobile apps are likewise popular for sports betting on the result of events and sports betting groups.

Nigeria’s crippling recession has likewise meant individuals are willing to run the risk of a small amount in the hope of winning big.

However this had actually led to widespread dependency, sports betting and parents were even grumbling that kids were dropping out of school to bet, sports betting Mr Aminudeen stated.

“These financial problems we are dealing with in Nigeria is God informing us to alter our methods by stopping sins,” he stated.

The raids on Tuesday focused on Munjibir, considered a resort area in the northeast of the city– visitors flock there at weekends.

“I am advising those running those sports betting stores to either shut down or we’ll arrest them and take them to [a Sharia] court,” Mr Aminudeen said.

It is unclear what penalty they would deal with – often, such violations bring a fine.

Sharia was presented in Kano in 2000 – as it was in 11 other Muslim-majority northern states – and prostitution, gambling and the intake of alcohol were banned.