Betting Wars: Islamic Police Crackdown Escalate as Tech Startup Challenges Nigeria’s Gaming Giants

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

Gambling has actually evolved considerably in Nigeria from standard types like pool staking and Baba Ijebu to a successful sports betting market. 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 gain access to came virtual sports betting, which parallels international trends. The sports betting market is valued at $89.91 billion in 2023 and is projected to almost double to $182.02 billion by 2030.

Regardless of financial difficulties such as inflation, Nigeria’s sports betting sector has actually thrived, bring in millions, especially amongst the vibrant market facing high joblessness rates.

Reports show that around 60 million Nigerians aged 18-40 actively take part in sports betting, driving a market that generates an approximated yearly earnings of N730 billion. The federal government has actually not gone unnoticed by this development, which is considering regulatory measures like excise tasks and VAT boosts to handle the sector.

The National Lottery Act of 2005 established regulative bodies like the National Lottery Regulatory Commission to guarantee reasonable operations despite difficulties in enforcement. Problems such as inadequate age verification and advertising guideline breaches show industry regulative spaces.

Regardless of these challenges, sports betting wagering business continue to grow through efficient company designs and aggressive marketing strategies, leveraging the developer influencer market.

These efforts have actually contributed to Nigeria’s robust $2 billion gambling sector, with CEOs playing essential functions in expanding audience reach and driving market development. Here are the CEOs of leading sports betting business who have significantly contributed to Nigeria’s $2 billion gambling empire through their extensive 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 covers different roles in the video gaming and entertainment industry, including working at one of the United Kingdom’s largest video gaming centres, The Palace Bingo Club, where he functioned 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 grown into a leading e-commerce business in the wagering and gaming sector, operating through online, mobile, sports betting and retail channels. The company was included in Nigeria on November 7, 2006, and sports betting has actually since expanded its existence, 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 became the CEO of LiveScore Group, a completely incorporated ecosystem that combines pertinent sports betting content, engaging functions, and a first-rate sportsbook.

Because taking the helm right before the pandemic, Sam has actually driven substantial growth for LiveScore Group. The company’s staff member headcount has increased by 29%, and yearly earnings has actually surged from around ₤ 10 million to over ₤ 80 million.

Sam’s leadership and strategic vision have actually propelled LiveScore Group’s success and helped form the market’s instructions. LiveScoreBet has actually accomplished major sports betting user engagement, sports betting 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 previously served as the business’s Marketing and Operations Director considering that 2015. He joined Betway in 2013 and has actually remained in the online gaming market since 2000, holding different effective roles, sports betting consisting of General Manager of a data analytics group and Director of a digital marketing agency.

Under Werkman’s leadership, Betway has actually continued to grow its market existence and boost its . The business’s app has garnered significant 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 differentiated herself as a senior executive with a track record of changing start-ups into institutionalized companies. Her competence spans the gaming, property, and credit financing markets, where he has established himself as a tactical and functional leader.

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

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

She established DearDammy Women’s Initiative (DDWIN), a non-profit organization empowering women-owned organizations. DDWIN offers frHer academic background consists of 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 business in 2009. While NairaBET was not the first sports betting platform in Nigeria, it was the first to launch a fully functional site, setting a criteria in the industry.

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 business based in Cyprus. 1XBET, founded in 2007 by the late Sergey Karshkov, has established itself as one of the biggest bookies in Europe and the world. The company runs in more than 50 nations, including Nigeria, sports betting where it is completely certified.

Under Babalola’s leadership, 1XBET Nigeria has broadened its footprint in the competitive Nigerian sports betting market, providing a vast array of wagering options 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 sports betting Chairman of Vend Capital. In addition to leading these ventures, Ukanwoke has worked together with African socio-economic institutions and federal governments to design developmental policies targeted at empowering young people. In 2015, Ernst & & Young honoured him as the Winner of the Accelerating Category– World Entrepreneur of the Year.

BetKing, founded and introduced 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 wagering and home entertainment company 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 partnership with the Lagos Employment Trust Fund, producing over 100,000 jobs, the number of which is increasing every year. In the very same year, MultiChoice broadcaster bought 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 sports betting business she established in 2000. Bet365.com was released in 2001 as an online wagering website and has because become one of the world’s biggest online gaming companies.

By 2016, Bet365 generated $2 billion in incomes and facilitated $45 billion in annual bets. The business also holds a bulk stake in Stoke City Football Club. Bet365 has gathered 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 likewise owns Portuguese club CD Feirense and Nigerian club Remo Stars.

Ojuroye is also the Chairman of Mango Asset Management, an independent Nigerian asset management business that creates investment returns and uses unique investment insights and solutions to both specific and institutional clients.

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

Fikayo Ogunfuye – Country Director 22bet

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

Fikayo’s experience consists of roles such as Chief Operations Officer (West Africa) at 22BET, where he managed item advancement and customer experience, and Country Manager at 22BET, focusing on marketing strategy and budget management. Before 22BET, sports betting he led marketing efforts at LuckyBet.NG and held numerous digital marketing roles at Laclic Services and Betty Bingo.

His profession began at Jumia Group, where he operated 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, sports betting and Operations from ESTG University in Cotonou, Benin Republic.

22Bet is an online gaming platform that provides sports betting wagering, gambling establishment games, and live dealership video games. It was launched in 2017 and is owned and operated by Marikit Holdings Ltd, a business signed up 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 established in 2013.

SportyBet is an international sports betting and real-money gaming operator known for delivering an omni-channel entertainment experience in controlled emerging markets. Under Ramnani’s leadership, SportyBet has 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 advocate for the growing African web environment. His investments show his commitment to cultivating innovation and advancement within the area.

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

The firm is set to interfere with the sports betting market.

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 company aims to leverage cutting-edge technology and a dedication to responsible gaming to revolutionise the sector.

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

At a press briefing, the company’s representative, Akin Babatunde, said that the rise in Internet penetration, mobile use, and the continent’s deep passion for sports betting, sports betting particularly football, has set the stage for Sunbet’s ambitious entry. He added that the company’s robust sponsorship and expert team will allow it to scale and control the market rapidly.

Islamic police raid wagering stores in northern Nigeria

Islamic cops in Nigeria’s northern city of Kano have started closing down sports betting wagering stores, which they state are operating unlawfully.

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

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

On the very first day of raids, 30 shops were closed in one suburban area alone, and their owners were sent home with a warning, the Sharia officer stated.

However 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 arrested.

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

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

Nevertheless, sports betting the present crackdown is concentrated on Muslim areas of Kano, a sprawling city and the financial hub of northern Nigeria.

sports betting wagering stores can be discovered all over the city. A lot of have tv screens, and customers view the outcome of global football matches or horse races on which they have actually staked cash.

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

“They don’t have licences to run as they were allowed to run computer game centres, which they later on transformed to wagering shops,” he stated.

The sports betting wagering market has actually expanded significantly throughout West Africa in recent years. The area is roughly divided between a primarily Muslim north and a predominantly Christian south.

Lots of people go to bookies to take pleasure in the sociability of other gamblers, though mobile apps are also popular for wagering on the outcome of events and groups.

Nigeria’s debilitating economic crisis has also suggested individuals are willing to run the risk of a small amount in the hope of winning huge.

However this had actually caused extensive addiction, and parents were even complaining that kids were leaving of school to bet, Mr Aminudeen said.

“These economic issues we are dealing with in Nigeria is God telling us to alter our methods by stopping sins,” he said.

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 recommending those running those sports betting shops to either closed 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 infringements bring a fine.

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