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Betting Battles: Islamic Police Raids Intensify as Tech Company Confronts Nigeria’s Gaming Giants

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

sports betting has actually progressed significantly in Nigeria from conventional kinds like pool staking and Baba Ijebu to a successful sports betting wagering industry. Historically connected to European football leagues, pool staking was a typical sight at motor parks and kiosks, where lovers would wager just N50-N200 on matches.

Slowly, sports betting 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 nearly double to $182.02 billion by 2030.

In spite of financial challenges such as inflation, sports betting Nigeria’s sports betting wagering sector has actually thrived, attracting millions, specifically amongst the youthful group dealing with high unemployment rates.

Reports show that approximately 60 million Nigerians aged 18-40 actively engage in sports betting wagering, driving a market that creates a projected annual revenue of N730 billion. The federal government has not gone undetected by this development, which is considering regulative measures like excise tasks and VAT increases to handle the sector.

The National Lottery Act of 2005 recognized regulatory bodies like the National Lottery Regulatory Commission to ensure fair operations despite challenges in enforcement. Issues such as inadequate age confirmation and advertising rule breaches show market regulative gaps.

Regardless of these challenges, sports betting business continue to thrive through effective service designs and aggressive marketing techniques, leveraging the creator influencer market.

These efforts have added to Nigeria’s robust $2 billion gambling sector, with CEOs playing essential functions in broadening audience reach and driving market development. 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.

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 various roles in the gaming and entertainment industry, consisting of operating at among the United Kingdom’s biggest gaming centres, The Palace Bingo Club, where he worked as the Lead Engineer in a Bingo and sports betting 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, sports betting has turned into a leading e-commerce service in the sports betting and video gaming sector, running through online, mobile, and retail channels. The company was included in Nigeria on November 7, 2006, and has actually because broadened its presence, sports betting attaining over 5,000 downloads on the Google Play Store.

Sam Sadi – CEO Livescorebet

Sam Sadi has over 25 years of experience in sports betting brand names and sports betting media. In 2019, he became the CEO of LiveScore Group, a totally incorporated ecosystem that integrates appropriate sports betting material, engaging functions, and a first-rate sportsbook.

Considering that taking the helm right before the pandemic, Sam has actually driven significant growth for LiveScore Group. The company’s employee headcount has increased by 29%, and annual income has risen from roughly ₤ 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 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 selected CEO of Betway in November 2017, having formerly acted as the company’s Marketing and sports betting Operations Director because 2015. He signed up with Betway in 2013 and has been in the online gaming market considering that 2000, holding numerous effective functions, including General Manager of a data analytics group and Director sports betting of a digital marketing firm.

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

Damilare Alabi, Co-Founder, Managing Director NairaBET

Damilare Alabi has distinguished herself as a senior executive with a performance history of transforming start-ups into institutionalized services. Her proficiency covers the gaming, real estate, and credit lending industries, where he has actually established himself as a tactical and operational leader.

Damilare has contributed in NairaBET’s success for over 14 years. Considering that June 2019, she has acted as Managing Director and has supervised the company’s growth 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), sports betting a non-profit company empowering women-owned companies. DDWIN supplies frHer academic background includes 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 company, established business in 2009. While NairaBET was not the first sports betting platform in Nigeria, sports betting it was the very first to release a completely practical site, sports betting 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 global 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 largest bookies in Europe and the world. The company operates in more than 50 nations, including Nigeria, where it is completely licensed.

Under Babalola’s leadership, 1 has expanded its footprint in the competitive Nigerian sports betting market, offering a wide variety of wagering options 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 sports betting Chairman of Vend Capital. In addition to leading these endeavors, sports betting Ukanwoke has actually worked together with African socio-economic institutions and sports betting federal governments to develop developmental policies targeted at empowering young people. In 2015, sports betting 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 brand name of Lake Ventures Ltd. This pan-African sports betting wagering and home entertainment company has actually rapidly grown its presence in Nigeria, with outlets in significant 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 jobs, the variety of which is increasing yearly. In the exact 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, bulk investor, and joint Chief Executive of Bet365, an online sports betting company she established in 2000. Bet365.com was introduced in 2001 as an online sports betting website and has actually since become among the world’s largest online gambling companies.

By 2016, Bet365 produced $2 billion in profits and assisted in $45 billion in annual bets. The company also 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 wagering business in Nigeria, developed along with entrepreneur Kunle Soname, who also owns Portuguese club CD Feirense and Nigerian club Remo Stars.

Ojuroye is also the Chairman of Mango Asset Management, sports betting an independent Nigerian property management company that generates financial investment returns and sports betting offers distinct financial investment insights and options to both private and sports betting 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 leadership, Bet9ja has become a considerable player in the Nigerian sports betting industry.

Fikayo Ogunfuye – Country Director 22bet

Fikayo Ogunfuye is a skilled professional in the sports betting market. He has actually been acting as the Country Director for 22BET in Nigeria given that June 2021. In this function, he has actually added to the company’s development through partnerships, sports betting business strategy, and sports betting new service development.

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

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

22Bet is an online gaming platform that provides sports betting wagering, casino games, and sports betting live dealer games. It was released in 2017 and is owned and run by Marikit Holdings Ltd, a business signed up 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 business he established in 2013.

SportyBet is an international sports betting wagering and real-money gaming operator understood for providing an omni-channel home entertainment experience in controlled emerging markets. Under Ramnani’s leadership, SportyBet has actually ended up being a substantial gamer in the market, with over 1 million downloads on the Google Play Store.

In addition to his role at SportyBet, Sudeep is an active investor sports betting in fintech and mobile payments and a strong supporter for the growing African internet environment. His financial investments reflect his dedication to cultivating innovation and sports betting development within the area.

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

The company is set to interfere with the sports betting industry.

Sunbet Sporting International Limited has said it is focused on revolutionising how millions of Africans engage with sports betting. In a market worth over $1.5 billion yearly, with double-digit development forecast in the coming years, according to reports from the African Sports Betting Association and PwC, the company intends to take advantage of innovative innovation and a dedication to responsible gaming to revolutionise the sector.

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

At a press briefing, the company’s spokesperson, Akin Babatunde, said that the increase in Internet penetration, mobile usage, and sports betting the continent’s deep passion for sports betting, sports betting particularly football, sports betting has actually set the stage for Sunbet’s enthusiastic entry. He added that the company’s robust financial backing and specialist group will enable it to scale and dominate the marketplace quickly.

Islamic police raid wagering shops in northern Nigeria

Islamic police in Nigeria’s northern city of Kano have started closing down sports betting stores, which they say are operating illegally.

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

Complaints from neighborhood leaders and parents triggered the crackdown, fretted about the growing number of gambling addicts, he stated.

On the first day of raids, 30 stores were closed in one suburban area alone, and their owners were sent out home with a warning, the Sharia officer said.

However Mr Aminudeen warned that now that the public was aware that the Hisbah was clamping down on gambling, those flouting the rules would be arrested.

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

Bookies and sports betting bars tend to be permitted to run in Kano’s Christian neighbourhoods, though they too can face 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 financial center of northern Nigeria.

Sports betting stores can be discovered all over the city. Many have tv screens, and sports betting clients see the result of worldwide football matches or horse races on which they have actually staked money.

Mr Aminudeen said such bookies had actually been able to operate under the radar as they had opened under false pretences.

“They don’t have licences to run as they were permitted to run video games centres, which they later on converted to sports betting stores,” he said.

The sports betting market has actually expanded drastically throughout West Africa over the last few years. The region is roughly divided between a primarily Muslim north and a mainly Christian south.

Many individuals go to bookmakers to take pleasure in the friendship of other bettors, though mobile apps are also popular for wagering on the outcome of occasions and teams.

Nigeria’s debilitating recession has likewise suggested people are willing to risk a percentage in the hope of winning big.

But this had actually resulted in widespread dependency, and moms and sports betting dads were even grumbling that kids were leaving of school to gamble, Mr Aminudeen stated.

“These financial problems we are dealing with in Nigeria is God telling us to change 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 said.

It is unclear what punishment they would deal with – frequently, such infringements bring a fine.

Sharia was introduced in Kano in 2000 – as it was in 11 other Muslim-majority northern states – and prostitution, gambling and the consumption of alcohol were banned.