Meet CEOs/MDs of business behind Nigeria's $2 billion Sports wagering industry.
sports betting has evolved significantly in Nigeria from traditional forms like pool staking and Baba Ijebu to a thriving sports betting industry. Historically tied to European football leagues, swimming pool staking was a common sight at motor parks and kiosks, where lovers would wager as little as N50-N200 on matches.
Gradually, sports betting with increased web gain access to came virtual wagering, which parallels international trends. 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 challenges such as inflation, Nigeria's sports betting sector has actually flourished, drawing in millions, especially amongst the vibrant group dealing with high unemployment rates.
Reports indicate that around 60 million Nigerians aged 18-40 actively engage in sports betting wagering, driving a market that produces an approximated annual earnings of N730 billion. The federal government has actually not gone unnoticed by this development, which is considering regulative measures like excise duties and VAT boosts to handle the sector.
The National Lottery Act of 2005 recognized regulatory bodies like the National Lottery Regulatory Commission to ensure fair operations in spite of obstacles in enforcement. Problems such as inadequate age verification and advertising guideline breaches reveal market regulative spaces.
Despite these difficulties, sports betting business continue to prosper through effective organization designs and aggressive marketing methods, leveraging the creator influencer market.
These efforts have actually added to Nigeria's robust $2 billion gaming sector, with CEOs playing important functions in broadening audience reach and driving market development. Here are the CEOs of leading sports betting business who have actually substantially added to Nigeria's $2 billion sports betting empire through their comprehensive audience reach.
Sheriff 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 profession covers different roles in the gaming and entertainment industry, consisting of working at among the United Kingdom's largest 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 actually become a leading e-commerce service in the sports betting and gaming sector, running through online, mobile, and retail channels. The company was integrated in Nigeria on November 7, 2006, and has actually because 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 wagering brand names and sports betting media. In 2019, he became the CEO of LiveScore Group, a totally integrated environment that combines appropriate sports betting content, engaging features, and a world-class sportsbook.
Considering that taking the helm prior to the pandemic, Sam has driven substantial development for LiveScore Group. The company's staff member headcount has actually increased by 29%, and yearly income has actually risen from approximately ₤ 10 million to over ₤ 80 million.
Sam's leadership and sports betting tactical vision have moved LiveScore Group's success and assisted shape the market's instructions. LiveScoreBet has achieved 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 served as the company's Marketing and Operations Director considering that 2015. He signed up with Betway in 2013 and has actually been in the online video gaming industry given that 2000, holding various successful functions, including General Manager of a data analytics team 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 company's app has actually amassed 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 differentiated herself as a senior executive with a performance history of transforming start-ups into institutionalized organizations. Her expertise spans the video gaming, property, and credit financing markets, where he has established himself as a tactical and operational leader.
Damilare has contributed in NairaBET's success for over 14 years. Given that June 2019, she has functioned as Managing Director and has supervised the company's development and operations in Lagos, Nigeria.
Before this, she was the Chief Operating Officer from 2010 to June 2019, essential in the company's functional strategies and market expansion.
She established DearDammy Women's Initiative (DDWIN), a non-profit company empowering women-owned organizations. 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, developed the business in 2009. While NairaBET was not the very first sports betting platform in Nigeria, it was the first to launch a totally functional site, setting a standard 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 business based in Cyprus. 1XBET, founded in 2007 by the late Sergey Karshkov, has actually established itself as one of the largest bookies in Europe and the world. The business operates in more than 50 countries, including Nigeria, where it is completely licensed.
Under Babalola's management, 1XBET Nigeria has actually broadened its footprint in the competitive Nigerian sports betting wagering market, providing a large range 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 Chairman of Vend Capital. In addition to leading these endeavors, sports betting Ukanwoke has teamed up with African socio-economic organizations and governments to create 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, founded and introduced in Nigeria on February 22, 2018, by Byron Petzer and Adekunle Adeniji, sports betting runs under the brand name of Lake Ventures Ltd. This pan-African sports betting and home entertainment company has quickly grown its existence in Nigeria, with outlets in significant cities and over 500,000 downloads on the Google Play Store.
In 2020, BetKing participated in a partnership with the Lagos Employment Trust Fund, developing over 100,000 jobs, sports betting the number of which is increasing each year. In the same year, MultiChoice broadcaster bought a 20% stake in BetKing, sports betting 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 business she established in 2000. Bet365.com was introduced in 2001 as an online sports betting website and has actually because become one of the world's largest online sports betting companies.
By 2016, Bet365 produced $2 billion in incomes and facilitated $45 billion in yearly bets. The company likewise holds a bulk stake in Stoke City Football Club. Bet365 has actually 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 business 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 property management business that produces financial investment returns and uses special investment insights and solutions to both individual and institutional customers.
Founded in 2012 under KC Gaming Networks, Bet9ja has quickly grown in popularity, with over 1 million downloads on the Google Play Store. Under Ojuroye's management, Bet9ja has actually become a significant gamer in the Nigerian sports betting wagering industry.
Fikayo Ogunfuye - Country Director 22bet
Fikayo Ogunfuye is a skilled professional in the sports betting wagering industry. He has been serving as the Country Director for 22BET in Nigeria given that June 2021. In this function, he has added to the business's growth through collaborations, organization technique, and sports betting brand-new business development.
Fikayo's experience includes functions such as Chief Operations Officer (West Africa) at 22BET, where he handled item development and client experience, and Country Manager at 22BET, focusing on marketing strategy and budget plan management. Before 22BET, he led marketing efforts at LuckyBet.NG and held various digital marketing functions at Laclic Services and Betty Bingo.
His profession began 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 uses sports betting, casino video games, and live dealer video games. It was released in 2017 and is owned and sports betting operated by Marikit Holdings Ltd, a business 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, sports betting a company he developed in 2013.
SportyBet is a worldwide sports betting and real-money gaming operator understood for providing an omni-channel entertainment experience in regulated emerging markets. Under Ramnani's leadership, SportyBet has actually become a significant player in the industry, with over 1 million downloads on the Google Play Store.
In addition to his function at SportyBet, Sudeep is an active investor in fintech and sports betting mobile payments and a strong advocate for the growing African internet ecosystem. His investments reflect his dedication to promoting development and advancement 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 betting market.
Sunbet Sporting International Limited has stated it is focused on revolutionising how countless Africans engage with sports betting. In a market worth over $1.5 billion annual, with double-digit growth projection in the coming years, according to reports from the African Sports Betting Association and PwC, the firm intends to utilize innovative technology and sports betting a dedication to accountable sports betting to change the sector.
Backed by the monetary power of four popular African billionaires, Sunbet, which will introduce in the first quarter of 2025, aims to be the continent's largest and most ingenious sports betting platform.
At a press instruction, the company's spokesperson, sports betting Akin Babatunde, said that the increase in Internet penetration, mobile usage, and the continent's deep passion for sports betting, particularly football, has actually set the stage for Sunbet's ambitious entry. He included that the company's robust financial backing and specialist team will allow it to scale and control the market rapidly.
Islamic cops raid wagering shops in northern Nigeria
Islamic police in Nigeria's northern city of Kano have started shutting down sports betting stores, which they state are running illegally.
"As you know, wagering is prohibited in Islam," Mujahid Aminudeen, deputy chief of the Sharia police force, called the Hisbah, told the BBC.
Grievances from community leaders and parents triggered the crackdown, worried about the growing number of sports betting addicts, he said.
On the first day of raids, 30 stores were closed in one suburb alone, and their owners were sent out home with a caution, the Sharia officer said.
However Mr Aminudeen alerted that now that the 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 majority Muslim population and runs the Islamic legal system - Sharia - alongside 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 thinks Muslims are frequenting them.
However, the current crackdown is focused on Muslim areas of Kano, a sprawling city and the economic center of northern Nigeria.
Sports betting stores can be found all over the city. Most have television screens, sports betting and clients see the result of global football matches or horse races on which they have actually staked cash.
Mr Aminudeen said such bookmakers had actually been able to operate under the radar as they had actually opened under false pretences.
"They do not have licences to run as they were permitted to run computer game centres, which they later on converted to sports betting shops," he stated.
The sports betting market has actually expanded considerably throughout West Africa over the last few years. The region is roughly divided between a primarily Muslim north and a predominantly Christian south.
Many individuals go to bookmakers to delight in the friendship of other bettors, though mobile apps are also popular for sports betting on the result of events and groups.
Nigeria's debilitating economic crisis has likewise indicated people are willing to run the risk of a percentage in the hope of winning big.
But this had caused widespread addiction, and parents were even complaining that kids were leaving of school to bet, Mr Aminudeen said.
"These financial 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 advising those running those sports betting shops to either closed down or we'll detain them and take them to [a Sharia] court," Mr Aminudeen stated.
It is unclear what penalty they would deal with - often, such violations bring a fine.
Sharia was introduced in Kano in 2000 - as it was in 11 other Muslim-majority northern states - and sports betting prostitution, gaming and the intake of alcohol were banned.
