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Meet CEOs/MDs of companies behind Nigeria’s $2 billion Sports wagering market.
Gaming has actually evolved considerably in Nigeria from standard forms like pool staking and Baba Ijebu to a flourishing sports betting market. Historically tied to European football leagues, pool staking was a typical sight at motor parks and kiosks, where lovers would wager as low as N50-N200 on matches.

Gradually, sports betting with increased internet access came virtual wagering, which parallels international 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 financial obstacles such as inflation, Nigeria’s sports betting sector has actually flourished, bring in millions, particularly among the vibrant demographic facing high unemployment rates.
Reports indicate that around 60 million Nigerians aged 18-40 actively participate in sports betting wagering, driving a market that generates an estimated annual income of N730 billion. The federal government has actually not gone undetected by this growth, sports betting which is thinking about regulative procedures like import tax duties and VAT increases to manage the sector.
The National Lottery Act of 2005 established regulative bodies like the National Lottery Regulatory Commission to guarantee reasonable operations regardless of challenges in enforcement. Issues such as insufficient age verification and marketing guideline breaches reveal industry regulative gaps.
In spite of these difficulties, sports betting companies continue to grow through reliable company models and aggressive marketing strategies, leveraging the creator influencer industry.
These efforts have actually added to Nigeria’s robust $2 billion sports betting sector, with CEOs playing important roles in expanding audience reach and driving industry development. Here are the CEOs of leading sports betting companies who have considerably contributed to Nigeria’s $2 billion gambling empire through their comprehensive audience reach.
Constable Olaniyan – CEO Surebet247
Constable Olaniyan is the CEO of Surebet247, a sports betting book company he co-founded with Badmos Olasupo in 2011. His varied career spans numerous functions in the gaming and show business, including operating at one of the United Kingdom’s biggest gaming centres, sports betting 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 grown into a leading e-commerce service in the sports betting and video gaming sector, running through online, mobile, and sports betting retail channels. The business was included in Nigeria on November 7, sports betting 2006, and has because expanded its presence, sports betting 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 completely integrated ecosystem that combines relevant sports betting content, engaging functions, and a first-rate sportsbook.
Given that taking the helm just before the pandemic, sports betting Sam has actually driven substantial growth for LiveScore Group. The business’s staff member headcount has increased by 29%, and yearly earnings has actually surged from roughly ₤ 10 million to over ₤ 80 million.
Sam’s leadership and strategic vision have propelled LiveScore Group’s success and helped form 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 appointed CEO of Betway in November 2017, sports betting having actually formerly acted as the business’s Marketing and sports betting Operations Director since 2015. He joined Betway in 2013 and has actually remained in the online video gaming market given that 2000, holding various effective roles, consisting of General Manager of a data analytics team and Director of a digital marketing company.
Under Werkman’s leadership, Betway has continued to grow its market existence and improve its offerings. The business’s app has gathered substantial 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 track record of changing start-ups into institutionalized services. Her expertise spans the gaming, property, and credit loaning markets, sports betting where he has actually developed himself as a tactical and functional leader.
Damilare has actually contributed in NairaBET’s success for sports betting over 14 years. Because June 2019, she has actually served as Managing Director and has actually overseen the business’s development 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 established DearDammy Women’s Initiative (DDWIN), a non-profit organization empowering women-owned businesses. DDWIN provides frHer academic 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 company, established business in 2009. While NairaBET was not the first sports betting platform in Nigeria, it was the very first to introduce a completely practical site, setting a criteria 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 international sports betting wagering company based in Cyprus. 1XBET, founded in 2007 by the late Sergey Karshkov, has actually developed itself as one of the biggest bookies in Europe and the world. The business operates in more than 50 nations, including Nigeria, where it is fully licensed.
Under Babalola’s management, 1XBET Nigeria has actually expanded its footprint in the competitive Nigerian sports betting market, offering a wide 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 worked together with African socio-economic institutions and federal governments to develop 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, sports betting founded and introduced in Nigeria on February 22, 2018, by Byron Petzer and Adekunle Adeniji, runs under the trademark name of Lake Ventures Ltd. This pan-African sports betting wagering and entertainment business has quickly grown its presence in Nigeria, with outlets in major cities and over 500,000 downloads on the Google Play Store.
In 2020, BetKing participated in a partnership with the Lagos Employment Trust Fund, creating over 100,000 tasks, sports betting the variety of which is increasing yearly. In the exact 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 investor, and sports betting joint Chief Executive of Bet365, an online sports betting company she established in 2000. Bet365.com was launched in 2001 as an online wagering website and has given that become among the world’s largest online gaming companies.
By 2016, Bet365 created $2 billion in earnings and facilitated $45 billion in yearly bets. The company likewise holds a majority stake in Stoke City Football Club. Bet365 has gathered significant 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 also the Chairman of Mango Asset Management, an independent Nigerian property management company that produces financial investment returns and provides unique financial investment insights and services to both specific and institutional clients.
Founded in 2012 under KC Gaming Networks, Bet9ja has actually rapidly grown in appeal, with over 1 million downloads on the Google Play Store. Under Ojuroye’s leadership, Bet9ja has actually ended up being a considerable gamer in the Nigerian sports betting industry.
Fikayo Ogunfuye – Country Director 22bet
Fikayo Ogunfuye is an experienced professional in the sports betting wagering market. He has been acting as the Country Director for 22BET in Nigeria since June 2021. In this role, he has actually contributed to the company’s development through collaborations, service technique, and brand-new company advancement.
Fikayo’s experience consists of roles such as Chief Operations Officer (West Africa) at 22BET, sports betting where he managed product development and customer experience, and sports betting Country Manager at 22BET, focusing on marketing strategy and budget management. Before 22BET, he led marketing efforts at LuckyBet.NG and held various digital marketing roles at Laclic Services and Betty Bingo.
His career began at Jumia Group, where he operated in SEO, CRM, and content management. Fikayo likewise functioned as a Human Resource at SIFAX Group.
He holds a Bachelor of Technology (B.Tech.) in Management and sports betting 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 offers sports betting, gambling establishment games, and live dealer video games. It was introduced in 2017 and is owned and sports betting run 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 gambling establishments worldwide.
Sudeep Ramnani– CEO Sportybet Group
Sudeep Ramnani is the Founder and CEO of SportyBet, a business he developed in 2013.
SportyBet is a global sports betting wagering and real-money video gaming operator known for providing an omni-channel entertainment experience in controlled emerging markets. Under Ramnani’s leadership, SportyBet has actually become a significant gamer 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 mobile payments and a strong advocate for the growing African internet community. His investments show his commitment to promoting development and advancement within the region.
On April 30, 2024, Sudeep Ramnani invested in Chowdeck, sports betting participating in a seed round valued at $2.5 million.
The firm is set to disrupt the sports wagering market.
Sunbet Sporting International Limited has said it is focused on revolutionising how countless Africans engage with sports betting. In a market worth over $1.5 billion annual, with double-digit development forecast in the coming years, sports betting 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 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 most ingenious sports betting wagering platform.
At a press briefing, the business’s representative, Akin Babatunde, stated that the increase in Internet penetration, sports betting mobile use, and the continent’s deep enthusiasm for sports betting, sports betting particularly football, has set the stage for Sunbet’s enthusiastic entry. He added that the company’s robust financial backing and expert group will enable it to scale and control the market quickly.
Islamic authorities raid betting stores 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 operating illegally.
«As you know, wagering is forbidden in Islam,» Mujahid Aminudeen, deputy chief of the Sharia police, known as the Hisbah, told the BBC.
Problems from neighborhood leaders and moms and dads prompted the crackdown, worried about the growing variety of sports betting addicts, he stated.
On the very first day of raids, 30 shops were closed in one suburban area alone, and sports betting their owners were sent home with a caution, the Sharia officer said.
But Mr Aminudeen warned that now that the public knew that the Hisbah was clamping down on sports betting, those flouting the rules would be detained.
Kano city is the capital of Kano state, which has a majority Muslim population and operates the Islamic legal system – Sharia – together with nonreligious law.
Bookmakers and bars tend to be allowed to operate in Kano’s Christian neighbourhoods, though they too can face action if the Hisbah believes Muslims are frequenting them.
Nevertheless, sports betting the present crackdown is focused on Muslim areas of Kano, a sprawling city and the financial hub of northern Nigeria.
Sports betting stores can be discovered all over the city. A lot of have tv screens, and consumers see the result of international football matches or sports betting horse races on which they have actually staked money.
Mr Aminudeen said such bookies had actually been able to run under the radar as they had actually opened under false pretences.
«They don’t have licences to operate as they were permitted to run computer game centres, which they later transformed to wagering shops,» he said.
The sports betting wagering market has expanded considerably across West Africa over the last few years. The region is roughly divided between a primarily Muslim north and sports betting a mainly Christian south.
Many individuals go to bookies to delight in the friendship of other bettors, though mobile apps are likewise popular for wagering on the outcome of events and teams.
Nigeria’s crippling economic crisis has actually likewise implied individuals want to run the risk of a small amount in the hope of winning huge.
But this had actually caused widespread dependency, sports betting and moms and dads were even complaining that kids were leaving of school to gamble, sports betting Mr Aminudeen said.
«These economic concerns we are dealing with in Nigeria is God informing 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 encouraging those running those sports betting stores to either closed down or we’ll arrest them and take them to [a Sharia] court,» Mr Aminudeen stated.

It is uncertain 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 prostitution, gaming and the intake of alcohol were banned.