Betting Battles: Islamic Police Crackdown Intensify as Tech Company Ch…

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

sports betting has progressed significantly in Nigeria from standard forms like pool staking and Baba Ijebu to a thriving sports betting wagering market. Historically tied to European football leagues, swimming pool staking was a typical sight at motor parks and kiosks, sports betting where enthusiasts would wager just N50-N200 on matches.

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

Despite economic obstacles such as inflation, Nigeria's sports betting wagering sector has actually flourished, sports betting attracting millions, sports betting specifically amongst the younger market facing high unemployment rates.

Reports indicate that around 60 million Nigerians aged 18-40 actively engage in sports betting wagering, driving an industry that creates an estimated yearly profits of N730 billion. The federal government has not gone unnoticed by this growth, which is considering regulatory steps like import tax responsibilities and VAT increases to handle the sector.

The National Lottery Act of 2005 recognized regulatory bodies like the National Lottery Regulatory Commission to make sure fair operations despite obstacles in enforcement. Problems such as inadequate age confirmation and marketing guideline breaches show market regulative gaps.

Regardless of these obstacles, sports betting wagering companies continue to flourish through reliable organization designs and aggressive marketing techniques, sports betting leveraging the developer influencer market.

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

Constable Olaniyan - CEO Surebet247

Sheriff Olaniyan is the CEO of Surebet247, sports betting a sports betting book company he co-founded with Badmos Olasupo in 2011. His varied career spans various functions in the video gaming and show business, including operating at one of the United Kingdom's largest gaming centres, The Palace Bingo Club, sports betting where he acted 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 wagering and gaming sector, operating through online, mobile, sports betting and retail channels. The business was incorporated in Nigeria on November 7, 2006, and has actually considering that expanded its presence, achieving over 5,000 downloads on the Google Play Store.

Sam Sadi - CEO Livescorebet

Sam Sadi has more than 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 material, engaging features, and sports betting a first-rate sportsbook.

Considering that taking the helm prior sports betting to the pandemic, Sam has driven significant development for sports betting LiveScore Group. The company's worker 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 assisted shape the market's direction. LiveScoreBet has 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 served as the company's Marketing and sports betting Operations Director given that 2015. He signed up with Betway in 2013 and has been in the online gaming industry since 2000, holding different successful roles, sports betting consisting of General Manager of an information 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 business's app has actually amassed 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 changing start-ups into institutionalized businesses. Her expertise covers the video gaming, real estate, and credit lending industries, where he has established himself as a tactical and functional leader.

Damilare has actually contributed 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, sports betting Nigeria.

Before this, she was the Chief Operating Officer from 2010 to June 2019, sports betting pivotal in the company's functional strategies and market expansion.

She founded DearDammy Women's Initiative (DDWIN), a non-profit organization empowering women-owned companies. DDWIN offers frHer educational background consists of 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 business, established business in 2009. While NairaBET was not the very first sports betting wagering platform in Nigeria, sports betting it was the first to launch a totally functional website, setting a standard 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 worldwide sports betting business based in Cyprus. 1XBET, founded in 2007 by the late Sergey Karshkov, has developed itself as one of the largest bookies in Europe and the world. The business runs in more than 50 nations, consisting of Nigeria, where it is completely certified.

Under Babalola's management, 1XBET Nigeria has actually broadened its footprint in the competitive Nigerian sports betting market, offering a large range of sports betting alternatives 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 sports betting of KingMakers, and Chairman of Vend Capital. In addition to leading these endeavors, Ukanwoke has actually collaborated with African socio-economic organizations and governments to develop 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 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 home entertainment company has actually quickly grown its existence in Nigeria, with outlets in significant cities and sports betting over 500,000 downloads on the Google Play Store.

In 2020, BetKing participated in a collaboration with the Lagos Employment Trust Fund, developing 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 creator, bulk investor, sports betting and joint Chief Executive of Bet365, sports betting an online gambling company she established in 2000. Bet365.com was introduced in 2001 as an online sports betting website and has because turned into among the world's largest online sports betting companies.

By 2016, Bet365 generated $2 billion in revenues and assisted in $45 billion in annual bets. The business likewise holds a majority stake in Stoke City Football Club. Bet365 has amassed 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 wagering company in Nigeria, developed together with business owner Kunle Soname, who also owns Portuguese club CD Feirense and Nigerian club Remo Stars.

Ojuroye is likewise the Chairman of Mango Asset Management, an independent Nigerian possession management company that produces financial investment returns and uses unique investment insights and options to both private and institutional customers.

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

Fikayo Ogunfuye - Country Director 22bet

Fikayo Ogunfuye is a seasoned professional in the sports betting market. He has actually been serving as the Country Director for 22BET in Nigeria because June 2021. In this function, he has contributed to the business's growth through partnerships, sports betting company strategy, sports betting and brand-new company development.

Fikayo's experience includes roles such as Chief Operations Officer (West Africa) at 22BET, where he managed product advancement and sports betting client experience, and Country Manager at 22BET, concentrating on marketing method and spending plan management. Before 22BET, he led marketing efforts at LuckyBet.NG and held different digital marketing functions at Laclic Services and Betty Bingo.

His profession began at Jumia Group, where he worked in SEO, CRM, and content management. Fikayo also served 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 gambling platform that uses sports betting wagering, sports betting gambling establishment games, and live dealership games. It was released in 2017 and is owned and run by Marikit Holdings Ltd, a company 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 a worldwide sports betting and real-money video gaming operator known for providing an omni-channel entertainment experience in managed emerging markets. Under Ramnani's leadership, SportyBet has actually ended up being a substantial player in the market, 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 sports betting mobile payments and a strong supporter for the growing African internet community. His financial investments show his commitment to cultivating innovation and advancement within the area.

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

The firm is set to interrupt the sports betting industry.

Sunbet Sporting International Limited has stated it is concentrated on revolutionising how countless Africans engage with sports betting. In an industry worth over $1.5 billion yearly, with double-digit development projection in the coming years, according to reports from the African Sports Betting Association and PwC, the company aims to utilize cutting-edge innovation and sports betting a dedication to accountable gaming to change the sector.

Backed by the financial power of four prominent African billionaires, Sunbet, which will introduce in the first quarter of 2025, intends to be the continent's largest and most innovative sports betting wagering platform.

At a press instruction, the company's representative, Akin Babatunde, said that the rise in Internet penetration, mobile use, and the continent's deep passion for sports betting, specifically football, sports betting has set the stage for Sunbet's ambitious entry. He added that the company's robust sponsorship and professional group will enable it to scale and control the market rapidly.

Islamic authorities raid betting shops in northern Nigeria

Islamic police in Nigeria's northern city of Kano have actually started shutting down sports betting shops, which they say are running unlawfully.

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

Problems from neighborhood leaders and parents prompted the crackdown, stressed over the growing number of gambling addicts, he stated.

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 said.

However Mr Aminudeen alerted that now that the general public was aware that the Hisbah was clamping down on gambling, those flouting the guidelines would be apprehended.

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.

Bookies and bars tend to be enabled to run in Kano's Christian neighbourhoods, though they too can face action if the Hisbah thinks Muslims are them.

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

sports betting wagering stores can be discovered all over the city. A lot of have tv screens, and consumers view the result of international football matches or horse races on which they have actually staked money.

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

"They don't have licences to operate as they were allowed to run computer game centres, which they later on converted to wagering shops," he stated.

The sports betting wagering industry has broadened significantly throughout West Africa in recent years. The area is roughly divided in between a generally Muslim north and a mainly Christian south.

Many individuals go to bookmakers to delight in the friendship of other gamblers, though mobile apps are likewise popular for wagering on the result of events and teams.

Nigeria's crippling recession has actually also suggested individuals are willing to run the risk of a small amount in the hope of winning big.

However this had actually resulted in extensive dependency, and parents were even complaining that children were leaving of school to bet, Mr Aminudeen stated.

"These financial problems we are facing in Nigeria is God telling us to alter our methods by stopping sins," he stated.

The raids on Tuesday concentrated on Munjibir, thought about a resort area in the northeast of the city-- visitors flock there at weekends.

"I am recommending those running those wagering shops to either shut down or we'll detain them and take them to [a Sharia] court," Mr Aminudeen stated.

It is unclear what punishment they would face - typically, such infringements carry a fine.

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