SPRIBE

SPRIBE

Follow

This company has no active jobs

0 Review

Rate This Company ( No reviews yet )

SPRIBE

SPRIBE

(0)

About Us

Northern Crackdowns, South Disruption: Nigeria’s Sports Betting Industry in Transition

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

Gambling has actually developed substantially in Nigeria from standard forms like pool staking and Baba Ijebu to a flourishing sports betting market. Historically connected to European football leagues, swimming pool staking was a common sight at motor parks and sports betting kiosks, where enthusiasts would bet just N50-N200 on matches.

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

Play Aviator virtual betting crash game on the Bet9ja platform

Regardless of economic challenges such as inflation, Nigeria’s sports betting wagering sector has grown, drawing in millions, particularly amongst the vibrant demographic facing high unemployment rates.

Reports indicate that approximately 60 million Nigerians aged 18-40 actively take part in sports betting, driving an industry that produces an approximated annual income of N730 billion. The federal government has actually not gone undetected by this growth, which is thinking about regulative procedures like import tax responsibilities and VAT boosts to handle the sector.

The National Lottery Act of 2005 established regulative bodies like the National Lottery Regulatory Commission to ensure reasonable operations regardless of difficulties in enforcement. Issues such as insufficient age confirmation and marketing rule breaches show market regulative gaps.

In spite of these challenges, sports betting business continue to prosper through effective organization 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 essential roles in expanding audience reach and driving industry development. Here are the CEOs of leading sports betting wagering companies who have significantly contributed to Nigeria’s $2 billion gaming empire through their comprehensive audience reach.

Constable Olaniyan – CEO Surebet247

Constable 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 numerous roles in the gaming and entertainment industry, including operating at one of the United Kingdom’s biggest video gaming centres, The Palace Bingo Club, sports betting 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, has become a leading e-commerce business in the sports betting and video gaming sector, operating through online, mobile, and retail channels. The business was included in Nigeria on November 7, 2006, and has considering that broadened its presence, 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 fully integrated community that integrates relevant sports betting content, engaging functions, and a first-rate sportsbook.

Considering that taking the helm prior to the pandemic, Sam has actually driven considerable growth for LiveScore Group. The company’s worker headcount has actually increased by 29%, and annual earnings has risen from approximately ₤ 10 million to over ₤ 80 million.

Sam’s leadership and tactical vision have moved LiveScore Group’s success and assisted shape the industry’s instructions. LiveScoreBet has actually achieved major user engagement, sports betting 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 previously acted as the business’s Marketing and Operations Director because 2015. He signed up with Betway in 2013 and has actually been in the online gaming market since 2000, holding various successful functions, including General Manager of a data analytics team and Director of a digital marketing firm.

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

Damilare Alabi, Co-Founder, Managing Director NairaBET

Damilare Alabi has identified herself as a senior executive with a track record of transforming start-ups into institutionalized organizations. Her expertise covers the video gaming, real estate, and sports betting credit lending markets, where he has actually established himself as a tactical and functional leader.

Damilare has contributed in NairaBET’s success for sports betting over 14 years. Considering that June 2019, she has actually acted as Managing Director and has managed the business’s growth and operations in Lagos, Nigeria.

Before this, she was the Chief Operating Officer from 2010 to June 2019, critical in the business’s functional techniques and sports betting market expansion.

She established DearDammy Women’s Initiative (DDWIN), a non-profit organization empowering women-owned organizations. DDWIN supplies frHer instructional 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, sports betting Nigeria’s pioneering sports betting bookmaking company, developed business in 2009. While NairaBET was not the first sports betting platform in Nigeria, it was the first to launch a completely practical website, setting a benchmark 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 worldwide sports betting wagering business based in Cyprus. 1XBET, founded in 2007 by the late Sergey Karshkov, has actually developed itself as one of the largest bookies in Europe and the world. The business runs in more than 50 countries, consisting of Nigeria, where it is totally certified.

Under Babalola’s leadership, 1XBET Nigeria has broadened its footprint in the competitive Nigerian sports betting wagering market, providing a vast array of wagering alternatives and an user-friendly 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 Chairman of Vend Capital. In addition to leading these endeavors, Ukanwoke has actually worked together with African socio-economic organizations and governments to develop developmental policies aimed 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, established and introduced 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 entertainment company has rapidly grown its existence in Nigeria, with outlets in major 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 jobs, the number of which is increasing each year. In the very same year, sports betting 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, majority investor, and joint Chief Executive of Bet365, an online sports betting business she established in 2000. Bet365.com was released in 2001 as an online wagering website and has since grown into one of the world’s biggest online sports betting business.

By 2016, Bet365 generated $2 billion in profits and assisted in $45 billion in annual bets. The company likewise holds a majority stake in Stoke City Football Club. Bet365 has actually amassed 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 likewise the Chairman of Mango Asset Management, an independent Nigerian asset management company that produces investment returns and offers unique investment insights and services to both specific and institutional clients.

Founded in 2012 under KC Gaming Networks, Bet9ja has actually quickly grown in appeal, with over 1 million downloads on the Google Play Store. Under Ojuroye’s leadership, Bet9ja has ended up being a significant gamer in the Nigerian sports betting industry.

Fikayo Ogunfuye – Country Director 22bet

Fikayo Ogunfuye is an experienced expert in the sports betting wagering industry. He has been working as the Country Director for 22BET in Nigeria given that June 2021. In this role, sports betting he has contributed to the company’s development through collaborations, business technique, and brand-new service development.

Fikayo’s experience consists of roles such as Chief Operations Officer (West Africa) at 22BET, where he managed product development and client experience, and Country Manager at 22BET, concentrating on marketing technique and budget plan management. Before 22BET, he led marketing efforts at and held numerous 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 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 offers sports betting, casino games, and live dealer video games. It was launched in 2017 and is owned and run by Marikit Holdings Ltd, a company signed up in Cyprus and a subsidiary of Orakum N.V.. They are also 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 known for providing an omni-channel home entertainment experience in regulated emerging markets. Under Ramnani’s management, sports betting SportyBet has 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 financier in fintech and mobile payments and a strong advocate for the growing African internet environment. His financial investments reflect his dedication to fostering development and development within the area.

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

The company is set to interfere with the sports wagering market.

Sunbet Sporting International Limited has said it is focused on revolutionising how countless Africans engage with sports betting. In an industry 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 leverage cutting-edge innovation and a commitment to accountable sports betting to change the sector.

Backed by the monetary power of 4 prominent African billionaires, Sunbet, which will release in the very first quarter of 2025, sports betting aims to be the continent’s biggest and sports betting most ingenious sports betting platform.

At a press rundown, sports betting the business’s spokesperson, Akin Babatunde, sports betting stated that the rise in Internet penetration, mobile usage, and the continent’s deep enthusiasm for sports betting, especially football, has actually set the stage for Sunbet’s ambitious entry. He added that the company’s robust sponsorship and specialist group will enable it to scale and control the market quickly.

Islamic authorities raid betting stores in northern Nigeria

Islamic authorities in Nigeria’s northern city of Kano have actually begun shutting down sports betting shops, sports betting which they say are operating illegally.

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

Problems from neighborhood leaders and parents prompted the crackdown, worried about the growing variety of sports betting 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 caution, the Sharia officer said.

But Mr Aminudeen alerted that now that the general public was aware that the Hisbah was clamping down on sports betting, those flouting the guidelines would be arrested.

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

Bookies and bars tend to be enabled to run in Kano’s Christian neighbourhoods, sports betting though they too can deal with action if the Hisbah believes Muslims are frequenting them.

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

sports betting wagering stores can be discovered all over the city. Many have tv screens, and customers watch the outcome of international football matches or horse races on which they have staked cash.

Mr Aminudeen stated such bookmakers 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 video games centres, which they later on transformed to sports betting shops,” he stated.

The sports betting wagering industry has actually broadened considerably throughout West Africa over the last few years. The area is approximately divided between a primarily Muslim north and a predominantly Christian south.

Lots of people go to bookies to take pleasure in the sociability of other bettors, though mobile apps are likewise popular for sports betting on the outcome of occasions and groups.

Nigeria’s debilitating economic crisis has also implied individuals are willing to risk a percentage in the hope of winning huge.

But this had led to extensive dependency, and moms and dads were even grumbling that kids were dropping out of school to gamble, Mr Aminudeen stated.

“These economic 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, considered a resort area in the northeast of the city– visitors flock there at weekends.

“I am advising those running those sports betting stores to either closed down or we’ll apprehend them and take them to [a Sharia] court,” Mr Aminudeen said.

It is uncertain what penalty they would face – frequently, such violations bring a fine.

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

Play Aviator virtual betting crash game on the Bet9ja platform

About us

Jobs.CareersInGulf.com is the Middle East Gulf leading jobs portal started in 2013 serveing job seekers and employers of UAE, Saudi Arabia, Oman, Qatar, Bahrain and other Gulf countries completely free to search and advertise jobs.