Betting Wars: Islamic Police Crackdown Escalate as Innovation Startup Confronts Nigeria’s Betting Giants

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

Gaming has developed considerably in Nigeria from standard forms like pool staking and Baba Ijebu to a successful sports betting market. Historically connected to European football leagues, pool staking was a common sight at motor parks and kiosks, where lovers would wager just N50-N200 on matches.

Slowly, with increased internet access came virtual sports betting, which parallels worldwide patterns. The sports betting market is valued at $89.91 billion in 2023 and is forecasted to nearly double to $182.02 billion by 2030.

In spite of financial difficulties such as inflation, Nigeria’s sports betting wagering sector has actually grown, attracting millions, particularly among the youthful group dealing with high unemployment rates.

Reports suggest that approximately 60 million Nigerians aged 18-40 actively participate in sports betting, driving an industry that produces an estimated annual revenue of N730 billion. The federal government has actually not gone unnoticed by this development, which is thinking about regulatory measures like excise responsibilities and VAT increases to handle the sector.

The National Lottery Act of 2005 established regulative bodies like the National Lottery Regulatory Commission to make sure reasonable operations regardless of obstacles in enforcement. Concerns such as inadequate age verification and marketing guideline breaches reveal industry regulative spaces.

Regardless of these obstacles, sports betting wagering companies continue to prosper through effective business models and aggressive marketing strategies, leveraging the developer influencer industry.

These efforts have actually added to Nigeria’s robust $2 billion gaming sector, with CEOs playing crucial roles in broadening audience reach and driving market growth. Here are the CEOs of leading sports betting wagering companies who have substantially added to Nigeria’s $2 billion gaming empire through their comprehensive audience reach.

Constable 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 various functions in the gaming and entertainment industry, sports betting including working at among the United Kingdom’s biggest gaming centres, sports betting 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 grown into a leading e-commerce service in the sports betting and gaming sector, operating through online, mobile, and retail channels. The business was integrated in Nigeria on November 7, 2006, and has given that expanded its presence, accomplishing 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 ended up being the CEO of LiveScore Group, a completely incorporated ecosystem that integrates appropriate sports betting material, engaging functions, and a world-class sportsbook.

Because taking the helm prior to the pandemic, Sam has driven considerable growth for LiveScore Group. The company’s worker headcount has increased by 29%, and yearly revenue has actually risen from around ₤ 10 million to over ₤ 80 million.

Sam’s management and strategic vision have propelled LiveScore Group’s success and helped shape the market’s direction. LiveScoreBet has actually accomplished 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 formerly functioned as the company’s Marketing and Operations Director considering that 2015. He signed up with Betway in 2013 and has remained in the online video gaming industry given that 2000, holding numerous effective roles, consisting of General Manager of a data analytics team and Director of a digital marketing firm.

Under Werkman’s leadership, Betway has actually continued to grow its market presence and enhance its offerings. The company’s app has actually garnered substantial user engagement, 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 transforming start-ups into institutionalized businesses. Her know-how spans the video gaming, real estate, and credit lending industries, where he has actually established himself as a strategic 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 actually overseen the business’s development and operations in Lagos, Nigeria.

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

She established DearDammy Women’s Initiative (DDWIN), a non-profit organization empowering women-owned companies. DDWIN provides frHer instructional 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 business, established business in 2009. While NairaBET was not the very first sports betting wagering platform in Nigeria, it was the very first to launch a totally functional website, setting a benchmark 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 worldwide sports betting wagering business based in Cyprus. 1XBET, sports betting founded in 2007 by the late Sergey Karshkov, has actually developed itself as one of the biggest bookmakers in Europe and the world. The company operates in more than 50 countries, consisting of Nigeria, where it is totally licensed.

Under Babalola’s management, 1XBET Nigeria has broadened its footprint in the competitive Nigerian sports betting market, providing a wide range of wagering 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 ventures, Ukanwoke has teamed up with African socio-economic institutions and governments to develop 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, established and launched 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 and entertainment company has 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 collaboration with the Lagos Employment Trust Fund, creating over 100,000 tasks, the variety of which is increasing annually. In the very 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 investor, and joint Chief Executive of Bet365, an online gaming business she established in 2000. Bet365.com was introduced in 2001 as an online wagering site and has because become among the world’s largest online gambling business.

By 2016, Bet365 created $2 billion in revenues and facilitated $45 billion in yearly bets. The also holds a bulk stake in Stoke City Football Club. Bet365 has actually amassed considerable 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, established alongside business owner Kunle Soname, sports betting 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 creates investment returns and uses special investment insights and options to both private and institutional customers.

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 ended up being a significant gamer in the Nigerian sports betting industry.

Fikayo Ogunfuye – Country Director 22bet

Fikayo Ogunfuye is a skilled specialist in the sports betting wagering industry. He has been acting as the Country Director for 22BET in Nigeria given that June 2021. In this function, he has added to the company’s development through partnerships, service technique, and new organization advancement.

Fikayo’s experience includes roles such as Chief Operations Officer (West Africa) at 22BET, where he handled item advancement and customer experience, and Country Manager at 22BET, concentrating on marketing method and budget plan management. Before 22BET, he led marketing efforts at LuckyBet.NG and held numerous digital marketing roles at Laclic Services and Betty Bingo.

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

22Bet is an online gaming platform that offers sports betting, gambling establishment games, and live dealership games. It was launched in 2017 and is owned and operated by Marikit Holdings Ltd, a company registered in Cyprus and 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, a company he developed in 2013.

SportyBet is a global sports betting and real-money gaming operator known for providing an omni-channel entertainment experience in controlled emerging markets. Under Ramnani’s leadership, SportyBet has become a significant player in the market, with over 1 million downloads on the Google Play Store.

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

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

The company is set to disrupt the sports wagering market.

Sunbet Sporting International Limited has stated it is concentrated on revolutionising how countless Africans engage with sports betting. In a market 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 advanced technology and a dedication 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 most ingenious sports betting 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 enthusiasm for sports betting, particularly football, has actually set the stage for Sunbet’s enthusiastic entry. He included that the company’s robust financial backing and professional team will allow it to scale and dominate the marketplace quickly.

Islamic cops raid wagering stores in northern Nigeria

Islamic police in Nigeria’s northern city of Kano have begun closing down sports betting shops, which they say are operating unlawfully.

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

Problems from neighborhood leaders and moms and dads prompted the crackdown, worried about the growing number of sports betting addicts, he said.

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

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

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

Bookmakers and bars tend to be allowed to operate in Kano’s Christian areas, 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 vast city and the financial center of northern Nigeria.

Sports betting stores can be discovered all over the city. Most have tv screens, and customers enjoy the result of international football matches or horse races on which they have actually staked cash.

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

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

The sports betting wagering industry has actually broadened dramatically throughout West Africa in recent years. The region is approximately divided in between a primarily Muslim north and a primarily Christian south.

Many people go to bookies to delight in the sociability of other gamblers, though mobile apps are likewise popular for sports betting on the result of events and teams.

Nigeria’s crippling economic crisis has actually likewise suggested individuals are willing to risk a percentage in the hope of winning big.

However this had actually caused widespread addiction, and moms and dads were even complaining that kids were dropping out of school to gamble, Mr Aminudeen said.

“These economic concerns we are dealing with in Nigeria is God telling us to alter 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 stores to either shut down or we’ll arrest them and take them to [a Sharia] court,” Mr Aminudeen said.

It is uncertain what punishment they would face – 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, gaming and the consumption of alcohol were prohibited.