Betting Wars: Islamic Police Raids Escalate as Tech Startup Confronts Nigeria’s Betting Leaders

Meet CEOs/MDs of business behind Nigeria’s $2 billion Sports wagering market.

Gaming has evolved considerably in Nigeria from conventional kinds like pool staking and sports betting Baba Ijebu to a thriving sports betting industry. Historically tied to European football leagues, pool staking was a typical sight at motor parks and sports betting kiosks, where enthusiasts would wager just N50-N200 on matches.

Slowly, sports betting with increased web gain access to came virtual wagering, which parallels worldwide patterns. The sports betting market is valued at $89.91 billion in 2023 and is projected to almost double to $182.02 billion by 2030.

In spite of economic difficulties such as inflation, Nigeria’s sports betting sector sports betting has thrived, drawing in millions, especially amongst the younger group facing high unemployment rates.

Reports show that approximately 60 million Nigerians aged 18-40 actively participate in sports betting wagering, driving a market that creates an estimated yearly earnings of N730 billion. The federal government has actually not gone undetected by this growth, which is considering regulative procedures like import tax responsibilities and VAT increases to manage the sector.

The National Lottery Act of 2005 established regulatory bodies like the National Lottery Regulatory Commission to guarantee reasonable operations regardless of difficulties in enforcement. Issues such as inadequate age verification and advertising rule breaches show industry regulative gaps.

Despite these challenges, sports betting wagering business continue to thrive through effective business models and aggressive marketing strategies, leveraging the creator sports betting influencer industry.

These efforts have actually added to Nigeria’s robust $2 billion gambling sector, with CEOs playing essential roles in expanding audience reach and driving market development. Here are the CEOs of leading sports betting wagering companies who have actually significantly added to Nigeria’s $2 billion sports betting empire through their substantial audience reach.

Sheriff 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 gaming and show business, including working at one of the United Kingdom’s biggest video gaming centres, 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 actually become a leading e-commerce service in the wagering and gaming sector, operating through online, mobile, and retail channels. The company was incorporated in Nigeria on November 7, 2006, and has given that broadened its existence, accomplishing over 5,000 downloads on the Google Play Store.

Sam Sadi – CEO Livescorebet

Sam Sadi has over 25 years of experience in sports betting brands and sports betting media. In 2019, he became the CEO of LiveScore Group, a fully incorporated ecosystem that combines appropriate sports betting material, engaging features, and a world-class sportsbook.

Since taking the helm prior to the pandemic, Sam has actually driven significant growth for LiveScore Group. The company’s employee headcount has increased by 29%, and annual revenue has surged from around ₤ 10 million to over ₤ 80 million.

Sam’s management and tactical vision have actually propelled LiveScore Group’s success and assisted shape the market’s instructions. LiveScoreBet has attained major user engagement, 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, sports betting having previously served as the business’s Marketing and Operations Director sports betting since 2015. He signed up with Betway in 2013 and sports betting has been in the online gaming market because 2000, holding different effective roles, including 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 presence and boost its offerings. The company’s app has actually amassed substantial 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 transforming start-ups into institutionalized organizations. Her know-how covers the gaming, realty, and credit lending markets, where he has actually developed himself as a strategic and functional leader.

Damilare has actually been instrumental in NairaBET’s success for over 14 years. Given that June 2019, sports betting she has actually served as Managing Director sports betting and has actually managed the company’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 methods and market growth.

She founded DearDammy Women’s Initiative (DDWIN), a non-profit company empowering women-owned companies. DDWIN offers frHer instructional background includes a Bachelor’s degree in Geology/Earth Science from the University of Ibadan, completed in 2005.

Akin Alabi, the creator of NairaBET.com, Nigeria’s pioneering sports betting bookmaking company, developed business in 2009. While NairaBET was not the first sports betting wagering platform in Nigeria, it was the very first to launch a totally functional website, 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 wagering 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 business runs in more than 50 nations, including Nigeria, where it is completely certified.

Under Babalola’s management, 1XBET Nigeria has expanded its footprint in the competitive Nigerian sports betting wagering market, providing a wide range of sports betting choices 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, sports betting Managing Director of KingMakers, sports betting and Chairman of Vend Capital. In addition to leading these ventures, sports betting Ukanwoke has actually worked together with African socio-economic organizations and federal governments to develop developmental policies targeted at empowering youths. 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, sports betting 2018, by Byron Petzer and sports betting Adekunle Adeniji, operates under the trademark name of Lake Ventures Ltd. This pan-African sports betting wagering 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 collaboration with the Lagos Employment Trust Fund, creating over 100,000 tasks, sports betting the number 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, sports betting the creator, bulk shareholder, and joint Chief Executive of Bet365, sports betting an online gambling business she developed in 2000. Bet365.com was introduced in 2001 as an online wagering site and has considering that become among the world’s biggest online gambling companies.

By 2016, sports betting Bet365 generated $2 billion in incomes and helped with $45 billion in annual bets. The business likewise holds a majority stake in Stoke City Football Club. Bet365 has gathered 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 company in Nigeria, developed along with entrepreneur 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 possession management business that produces financial investment returns and sports betting uses distinct investment insights and solutions to both private 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 ended up being a significant player in the Nigerian sports betting market.

Fikayo Ogunfuye – Country Director 22bet

Fikayo Ogunfuye is an experienced specialist in the sports betting industry. He has been functioning as the Country Director for sports betting 22BET in Nigeria since June 2021. In this role, he has added to the business’s development through collaborations, organization method, and brand-new business advancement.

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

His career started at Jumia Group, where he worked in SEO, CRM, and content management. Fikayo likewise worked 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 sports betting Operations from ESTG University in Cotonou, Benin Republic.

22Bet is an online gaming platform that offers sports betting, sports betting casino video games, and live dealer video games. It was launched in 2017 and is owned and operated by Marikit Holdings Ltd, a business registered in Cyprus and sports betting a subsidiary of Orakum N.V.. They are also the owners of Betwinner and sports betting 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 gaming operator understood for providing an omni-channel entertainment experience in regulated emerging markets. Under Ramnani’s management, SportyBet has actually 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 investor sports betting in fintech and mobile payments and sports betting a strong advocate for the growing African internet environment. His financial investments reflect his dedication to fostering innovation and advancement within the region.

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

The company is set to disrupt the sports wagering industry.

Sunbet Sporting International Limited has said it is focused on changing 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 take advantage of advanced innovation and a commitment to responsible gaming to change the sector.

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

At a press rundown, the company’s spokesperson, Akin Babatunde, stated that the increase in Internet penetration, mobile usage, and the continent’s deep enthusiasm for sports betting, especially football, has set the stage for Sunbet’s ambitious entry. He included that the firm’s robust financial backing and specialist team will enable it to scale and control the marketplace quickly.

Islamic cops raid wagering shops in northern Nigeria

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

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

Problems from community leaders and parents triggered the crackdown, fretted about the growing number of sports betting addicts, he said.

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

But Mr that now that the public was aware that the Hisbah was clamping down on gaming, 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.

Bookies and sports betting bars tend to be permitted to operate in Kano’s Christian areas, though they too can face action if the Hisbah thinks Muslims are frequenting them.

Nevertheless, the existing crackdown is focused on Muslim areas of Kano, a vast city and the economic center of northern Nigeria.

Sports betting stores can be found all over the city. A lot of have tv screens, and consumers watch the outcome of global football matches or horse races on which they have actually staked money.

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 run as they were allowed to run computer game centres, which they later on converted to sports betting shops,” he stated.

The sports betting industry has actually broadened dramatically across West Africa recently. The region is roughly divided in between a mainly Muslim north and a primarily Christian south.

Many individuals go to bookies to take pleasure in the sociability of other gamblers, though mobile apps are likewise popular for sports betting on the outcome of events and teams.

Nigeria’s crippling recession has likewise indicated individuals are willing to run the risk of a percentage in the hope of winning huge.

But this had led to prevalent addiction, and parents were even complaining that children were leaving of school to gamble, Mr Aminudeen stated.

“These financial concerns we are dealing with in Nigeria is God informing us to alter our ways 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 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 penalty they would face – typically, such violations carry a fine.

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