Betting Battles: Islamic Police Raids Intensify as Innovation Startup Confronts Nigeria’s Gaming Giants

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

Gaming has actually evolved significantly in Nigeria from conventional types like pool staking and sports betting Baba Ijebu to a flourishing sports betting market. Historically tied to European football leagues, pool staking was a typical sight at motor parks and sports betting kiosks, where lovers would wager as low as N50-N200 on matches.

Slowly, with increased internet access came virtual sports betting, which parallels worldwide 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.

Despite financial challenges such as inflation, Nigeria’s sports betting sector has actually prospered, bring in millions, especially amongst the younger market dealing with high joblessness rates.

Reports indicate that approximately 60 million Nigerians aged 18-40 actively engage in sports betting wagering, driving a market that creates an estimated annual income of N730 billion. The federal government has not gone undetected by this development, which is thinking about regulative procedures like import tax responsibilities and VAT increases to manage the sector.

The National Lottery Act of 2005 recognized regulative bodies like the National Lottery Regulatory Commission to guarantee reasonable operations despite obstacles in enforcement. Problems such as insufficient age confirmation and advertising guideline breaches reveal industry regulatory gaps.

In spite of these obstacles, sports betting wagering business continue to prosper through efficient organization models and aggressive marketing methods, leveraging the developer influencer industry.

These efforts have actually added to Nigeria’s robust $2 billion gaming sector, with CEOs playing crucial functions in broadening audience reach and driving industry growth. Here are the CEOs of leading sports betting wagering companies who have considerably added to Nigeria’s $2 billion gaming empire through their extensive 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 spans numerous functions in the gaming and sports betting show business, including operating at one of the United Kingdom’s biggest 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, sports betting Wales. Surebet247, founded in August 2011, has turned into a leading e-commerce organization in the wagering and video gaming sector, running through online, mobile, and retail channels. The business was incorporated in Nigeria on November 7, 2006, and sports betting has actually because 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 wagering brands and sports betting media. In 2019, he ended up being the CEO of LiveScore Group, a fully integrated ecosystem that combines relevant sports betting material, sports betting engaging functions, and a world-class sportsbook.

Considering that taking the helm prior sports betting to the pandemic, Sam has actually driven substantial development for LiveScore Group. The business’s worker headcount has actually increased by 29%, and yearly revenue has actually risen from roughly ₤ 10 million to over ₤ 80 million.

Sam’s leadership and tactical vision have moved LiveScore Group’s success and assisted shape the industry’s instructions. LiveScoreBet has actually achieved 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 actually previously served as the company’s Marketing and Operations Director considering that 2015. He joined Betway in 2013 and has actually remained in the online video gaming market considering that 2000, sports betting holding numerous effective functions, consisting of General Manager of a data analytics group and Director of a digital marketing agency.

Under Werkman’s management, Betway has actually continued to grow its market presence and improve its offerings. The business’s app has actually amassed considerable user engagement, with over 100,000 downloads on the Google Play Store.

Damilare Alabi, Co-Founder, Managing Director NairaBET

Damilare Alabi has differentiated herself as a senior executive with a performance history of transforming start-ups into institutionalized organizations. Her expertise covers the video gaming, property, and credit financing industries, where he has actually developed himself as a tactical and functional leader.

Damilare has been instrumental in NairaBET’s success for sports betting 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, pivotal in the business’s functional techniques and sports betting market growth.

She established DearDammy Women’s Initiative (DDWIN), a non-profit organization empowering women-owned services. DDWIN supplies frHer educational background includes a Bachelor’s degree in Geology/Earth Science from the University of Ibadan, completed in 2005.

Akin Alabi, the founder of NairaBET.com, Nigeria’s pioneering sports betting bookmaking company, established the business in 2009. While NairaBET was not the first sports betting platform in Nigeria, it was the very first to launch a fully practical site, 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 global sports betting wagering company based in Cyprus. 1XBET, founded in 2007 by the late Sergey Karshkov, has developed itself as one of the biggest bookmakers in Europe and the world. The company runs in more than 50 nations, consisting of Nigeria, where it is completely certified.

Under Babalola’s management, 1XBET Nigeria has broadened its footprint in the competitive Nigerian sports betting market, offering a large range of sports betting alternatives 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 collaborated with African socio-economic organizations and federal governments to create developmental policies aimed 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, sports betting 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 existence 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 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 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 website and has given that become one of the world’s largest online gaming business.

By 2016, Bet365 generated $2 billion in earnings and helped with $45 billion in yearly bets. The company also holds a bulk stake in Stoke City Football Club. Bet365 has garnered 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, sports betting a leading sports betting wagering business in Nigeria, established alongside businessman Kunle Soname, sports betting who likewise owns Portuguese club CD Feirense and Nigerian club Remo Stars.

Ojuroye is likewise the Chairman of Mango Asset Management, an independent Nigerian possession management business that generates investment returns and sports betting provides distinct financial investment insights and solutions to both individual 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 significant player in the Nigerian sports betting wagering industry.

Fikayo Ogunfuye – Country Director 22bet

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

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

His profession began at Jumia Group, where he operated in SEO, CRM, and content management. Fikayo likewise 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 gambling platform that provides sports betting, casino games, and live dealer video games. It was launched in 2017 and is owned and operated by Marikit Holdings Ltd, sports betting a business registered in Cyprus and sports betting 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 sports betting CEO of SportyBet, a business he established in 2013.

SportyBet is a worldwide sports betting and real-money gaming operator understood for delivering an omni-channel entertainment experience in controlled emerging markets. Under Ramnani’s leadership, SportyBet has become a significant gamer 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 sports betting mobile payments and a for the growing African web community. His financial investments show his dedication to fostering innovation and development within the region.

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

The firm is set to disrupt the sports betting industry.

Sunbet Sporting International Limited has said 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 forecast in the coming years, according to reports from the African Sports Betting Association and PwC, the firm intends to utilize cutting-edge innovation and a dedication to responsible sports betting to revolutionise the sector.

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

At a press briefing, the business’s spokesperson, Akin Babatunde, said that the increase in Internet penetration, mobile use, and the continent’s deep passion for sports betting, especially football, has actually set the stage for Sunbet’s enthusiastic entry. He added that the firm’s robust financial backing and professional team will allow it to scale and control the marketplace rapidly.

Islamic cops raid betting shops in northern Nigeria

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

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

Complaints from community leaders and parents triggered the crackdown, stressed over the growing number of gambling addicts, he said.

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

However Mr Aminudeen cautioned that now that the general public knew that the Hisbah was clamping down on gambling, sports betting those flouting the rules would be jailed.

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

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

However, the existing crackdown is concentrated on Muslim locations of Kano, sports betting a sprawling city and sports betting the financial hub of northern Nigeria.

Sports betting stores can be found all over the city. Many have television screens, sports betting and consumers see the result of international football matches or horse races on which they have actually staked cash.

Mr Aminudeen said such bookies had had the ability to run under the radar as they had actually opened under false pretences.

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

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

Many people go to bookmakers to take pleasure in the friendship of other gamblers, though mobile apps are likewise popular for wagering on the result of events and groups.

Nigeria’s debilitating recession has also meant individuals are willing to run the risk of a percentage in the hope of winning huge.

However this had resulted in extensive dependency, and moms and dads were even complaining that children were leaving of school to gamble, Mr Aminudeen stated.

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

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

“I am encouraging 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 uncertain what punishment they would face – often, such infringements carry a fine.

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