Betting Battles: Hisbah Police Raids Escalate as Tech Company Challenges Nigeria’s Gaming Giants

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

Gambling has evolved significantly in Nigeria from conventional forms like pool staking and Baba Ijebu to a growing sports betting wagering market. Historically tied to European football leagues, swimming pool staking was a common sight at motor parks and kiosks, where enthusiasts would bet just N50-N200 on matches.

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

Regardless of financial challenges such as inflation, Nigeria’s sports betting sector has flourished, bring in millions, sports betting specifically among the younger demographic facing high unemployment rates.

Reports show that approximately 60 million Nigerians aged 18-40 actively engage in sports betting, driving a market that creates an approximated annual profits of N730 billion. The federal government has not gone undetected by this growth, which is thinking about regulative steps like excise responsibilities and VAT increases to handle the sector.

The National Lottery Act of 2005 established regulatory bodies like the National Lottery Regulatory Commission to guarantee fair operations regardless of difficulties in enforcement. Issues such as insufficient age verification and marketing rule breaches show market regulative spaces.

Despite these difficulties, sports betting wagering business continue to flourish through efficient service models and aggressive marketing methods, sports betting leveraging the developer influencer market.

These efforts have contributed to Nigeria’s robust $2 billion sports betting sector, with CEOs playing crucial functions in expanding audience reach and driving market growth. Here are the CEOs of leading sports betting business who have actually significantly added to Nigeria’s $2 billion gambling empire through their extensive audience reach.

Sheriff 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 diverse profession covers numerous functions in the video gaming and entertainment industry, including working at among the United Kingdom’s biggest gaming centres, The Palace Bingo Club, where he functioned 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 turned into a leading e-commerce service in the wagering and gaming sector, operating through online, mobile, and retail channels. The company was included in Nigeria on November 7, 2006, and has considering that broadened its existence, accomplishing 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, sports betting a completely integrated ecosystem that integrates pertinent sports betting material, engaging functions, sports betting and a first-rate sportsbook.

Given that taking the helm just before the pandemic, Sam has actually driven considerable development for LiveScore Group. The business’s employee headcount has actually increased by 29%, and sports betting yearly income has surged from around ₤ 10 million to over ₤ 80 million.

Sam’s management and tactical vision have actually propelled LiveScore Group’s success and helped form the industry’s direction. LiveScoreBet has achieved major user engagement, with over 100,000 downloads on the Google Play Store.

Anthony Werkman – CEO of Betway Group

was appointed CEO of Betway in November 2017, having actually formerly worked as the company’s Marketing and Operations Director because 2015. He joined Betway in 2013 and has been in the online video gaming market since 2000, holding different effective functions, sports betting 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 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 spans the video gaming, real estate, and sports betting credit loaning industries, 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. Because June 2019, she has actually functioned as Managing Director and has actually overseen the business’s growth and sports betting operations in Lagos, Nigeria.

Before this, she was the Chief Operating Officer from 2010 to June 2019, essential in the business’s functional methods and market growth.

She founded DearDammy Women’s Initiative (DDWIN), sports betting a non-profit organization empowering women-owned organizations. DDWIN provides frHer academic background consists of a Bachelor’s degree in Geology/Earth Science from the University of Ibadan, completed in 2005.

Akin Alabi, the founder of NairaBET.com, Nigeria’s pioneering sports betting bookmaking business, developed business in 2009. While NairaBET was not the first sports betting platform in Nigeria, it was the very first to launch a completely functional website, 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 global sports betting business based in Cyprus. 1XBET, founded in 2007 by the late Sergey Karshkov, has developed itself as one of the largest bookmakers in Europe and the world. The company runs in more than 50 nations, sports betting including Nigeria, where it is fully accredited.

Under Babalola’s management, 1XBET Nigeria has expanded its footprint in the competitive Nigerian sports betting wagering market, providing a wide range of wagering 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, Managing Director of KingMakers, and Chairman of Vend Capital. In addition to leading these ventures, Ukanwoke has collaborated with African socio-economic organizations and federal governments to design developmental policies focused on empowering young people. In 2015, Ernst & & Young honoured him as the Winner of the Accelerating Category– World Entrepreneur of the Year.

BetKing, founded and introduced in Nigeria on February 22, 2018, by Byron Petzer and sports betting Adekunle Adeniji, operates under the brand name of Lake Ventures Ltd. This pan-African sports betting wagering and entertainment company has rapidly grown its presence in Nigeria, sports betting with outlets in major cities and over 500,000 downloads on the Google Play Store.

In 2020, BetKing entered into a partnership with the Lagos Employment Trust Fund, producing over 100,000 jobs, the variety of which is increasing annually. 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 founder, majority investor, and joint Chief Executive of Bet365, an online gambling company she developed in 2000. Bet365.com was introduced in 2001 as an online wagering website and has actually because become one of the world’s biggest online sports betting business.

By 2016, sports betting Bet365 created $2 billion in revenues and helped with $45 billion in annual bets. The company likewise holds a bulk stake in Stoke City Football Club. Bet365 has 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 sports betting co-founder of Bet9ja, a leading sports betting business in Nigeria, established alongside business person 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 possession management company that produces financial investment returns and offers distinct investment insights and solutions to both individual and institutional customers.

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

Fikayo Ogunfuye – Country Director 22bet

Fikayo Ogunfuye is an experienced professional in the sports betting industry. He has actually been acting as the Country Director for 22BET in Nigeria considering that June 2021. In this function, he has actually contributed to the company’s growth through collaborations, business method, and new company development.

Fikayo’s experience includes functions such as Chief Operations Officer (West Africa) at 22BET, where he managed product advancement and client experience, sports betting and Country Manager at 22BET, focusing on marketing method 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 profession began at Jumia Group, where he worked in SEO, CRM, and sports betting content management. Fikayo likewise served as a Human Resource Officer 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, sports betting Management, and Operations from ESTG University in Cotonou, Benin Republic.

22Bet is an online sports betting platform that uses sports betting, gambling establishment video games, and live dealer games. It was introduced in 2017 and is owned and operated by Marikit Holdings Ltd, a business 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 developed in 2013.

SportyBet is a worldwide sports betting and real-money gaming operator known for providing an omni-channel home entertainment experience in managed emerging markets. Under Ramnani’s leadership, SportyBet has actually become a substantial gamer in the industry, 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 sports betting a strong supporter for sports betting the growing African internet ecosystem. His financial investments show his dedication to fostering innovation and development within the region.

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

The company is set to disrupt the sports betting industry.

Sunbet Sporting International Limited has said it is concentrated on changing how millions of Africans engage with sports betting. In an industry worth over $1.5 billion annual, with double-digit development forecast in the coming years, according to reports from the African Sports Betting Association and PwC, sports betting the firm intends to leverage cutting-edge innovation and sports betting a commitment to responsible sports betting to change the sector.

Backed by the financial power of 4 popular African billionaires, Sunbet, which will introduce in the very first quarter of 2025, sports betting intends to be the continent’s largest and most ingenious sports betting wagering platform.

At a press rundown, the business’s spokesperson, Akin Babatunde, stated that the rise in Internet penetration, mobile use, and the continent’s deep enthusiasm for sports betting, particularly football, has set the stage for Sunbet’s enthusiastic entry. He included that the firm’s robust sponsorship and professional group will allow it to scale and control the marketplace quickly.

Islamic authorities raid wagering shops in northern Nigeria

Islamic authorities in Nigeria’s northern city of Kano have actually begun closing down sports betting stores, which they state are operating unlawfully.

« As you understand, wagering is forbidden in Islam, » Mujahid Aminudeen, sports betting deputy chief of the Sharia police force, called the Hisbah, told the BBC.

Problems from community leaders and moms and dads prompted the crackdown, stressed over the growing variety of sports betting addicts, sports betting he said.

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

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

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

Bookmakers and bars tend to be allowed to operate in Kano’s Christian areas, though they too can face action if the Hisbah believes Muslims are frequenting them.

Nevertheless, the current crackdown is concentrated on Muslim areas of Kano, a sprawling city and the financial hub of northern Nigeria.

sports betting wagering shops can be found all over the city. Many have tv screens, and sports betting customers view the outcome of global football matches or horse races on which they have actually staked cash.

Mr Aminudeen said such bookies had actually had the ability to run under the radar as they had opened under false pretences.

« They don’t have licences to run as they were allowed to run video games centres, which they later converted to sports betting stores, » he stated.

The sports betting industry has expanded drastically across West Africa recently. The region is approximately divided in between a primarily Muslim north and a primarily Christian south.

Many people go to bookies to take pleasure in the sociability of other gamblers, though mobile apps are also popular for sports betting on the result of occasions and sports betting groups.

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

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

« These economic concerns we are facing in Nigeria is God informing us to change our ways by stopping sins, » he stated.

The raids on Tuesday focused 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 closed down or we’ll apprehend them and take them to [a Sharia] court, » Mr Aminudeen said.

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

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