Betting Battles: Hisbah Police Raids Escalate as Innovation Company Confronts Nigeria’s Gaming Leaders

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

sports betting has actually developed substantially in Nigeria from traditional kinds like pool staking and sports betting 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 kiosks, sports betting where enthusiasts would bet as low as N50-N200 on matches.

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

In spite of financial challenges such as inflation, Nigeria’s sports betting wagering sector has grown, attracting millions, specifically among the vibrant demographic facing high unemployment rates.

Reports indicate that roughly 60 million Nigerians aged 18-40 actively engage in sports betting wagering, driving a market that generates an estimated yearly profits of N730 billion. The federal government has not gone unnoticed by this growth, which is thinking about regulatory procedures like excise duties and VAT increases to handle the sector.

The National Lottery Act of 2005 recognized regulatory bodies like the National Lottery Regulatory Commission to ensure reasonable operations regardless of challenges in enforcement. Issues such as inadequate age verification and marketing guideline breaches reveal market regulatory gaps.

Regardless of these difficulties, sports betting business continue to grow through effective business designs and aggressive marketing strategies, leveraging the creator influencer industry.

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

Sheriff Olaniyan – CEO Surebet247

Constable Olaniyan is the CEO of Surebet247, a sports betting book business he co-founded with Badmos Olasupo in 2011. His varied profession covers numerous functions in the gaming and sports betting show business, including working at one of the United Kingdom’s largest gaming centres, The Palace Bingo Club, where he served 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, sports betting has turned into a leading e-commerce company in the wagering and gaming sector, running through online, sports betting mobile, and sports betting retail channels. The company was included in Nigeria on November 7, 2006, and has actually because 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 brands and sports betting media. In 2019, he became the CEO of LiveScore Group, a completely integrated environment that combines relevant sports betting content, engaging features, and a world-class sportsbook.

Considering that taking the helm just before the pandemic, Sam has actually driven substantial development for sports betting LiveScore Group. The company’s worker headcount has increased by 29%, and annual earnings has surged from around ₤ 10 million to over ₤ 80 million.

Sam’s management and strategic vision have actually moved LiveScore Group’s success and helped form the market’s instructions. LiveScoreBet has actually attained major user engagement, with over 100,000 downloads on the Store.

Anthony Werkman – CEO of Betway Group

Anthony Werkman was selected CEO of Betway in November 2017, having formerly functioned as the business’s Marketing and Operations Director because 2015. He signed up with Betway in 2013 and sports betting has actually been in the online video gaming industry considering that 2000, holding numerous successful roles, including General Manager of a data analytics team and Director of a digital marketing firm.

Under Werkman’s management, Betway has actually continued to grow its market presence and boost its offerings. The business’s app has actually gathered 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 distinguished herself as a senior executive with a track record of changing start-ups into institutionalized services. Her expertise covers the gaming, property, and credit lending markets, where he has developed himself as a tactical and operational leader.

Damilare has actually been instrumental in NairaBET’s success for sports betting over 14 years. Since June 2019, she has 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 market expansion.

She established DearDammy Women’s Initiative (DDWIN), a non-profit organization empowering women-owned organizations. DDWIN supplies frHer academic 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 business, established business in 2009. While NairaBET was not the first sports betting platform in Nigeria, it was the very first to introduce a fully practical 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, sports betting a franchise of the international sports betting wagering company based in Cyprus. 1XBET, founded in 2007 by the late Sergey Karshkov, has established itself as one of the biggest bookmakers in Europe and the world. The company runs in more than 50 nations, consisting of Nigeria, where it is fully accredited.

Under Babalola’s leadership, 1XBET Nigeria has expanded its footprint in the competitive Nigerian sports betting market, sports betting offering a wide variety of sports betting alternatives 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 actually teamed up with African socio-economic institutions and 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, established and sports betting 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 home entertainment business 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 participated in a partnership with the Lagos Employment Trust Fund, producing over 100,000 tasks, the number of which is increasing every year. 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 founder, bulk shareholder, and joint Chief Executive of Bet365, an online gambling business she established in 2000. Bet365.com was launched in 2001 as an online sports betting website and has actually given that become one of the world’s biggest online gaming companies.

By 2016, Bet365 produced $2 billion in profits and assisted in $45 billion in yearly bets. The company also holds a bulk stake in Stoke City Football Club. Bet365 has amassed 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 business in Nigeria, established along with business owner Kunle Soname, who likewise 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 generates financial investment returns and uses unique financial investment insights and solutions to both specific and institutional clients.

Founded in 2012 under KC Gaming Networks, Bet9ja has rapidly grown in popularity, with over 1 million downloads on the Google Play Store. Under Ojuroye’s management, Bet9ja has become a considerable gamer in the Nigerian sports betting wagering market.

Fikayo Ogunfuye – Country Director 22bet

Fikayo Ogunfuye is an experienced professional in the sports betting wagering market. He has been serving as the Country Director for 22BET in Nigeria given that June 2021. In this function, he has actually added to the business’s development through collaborations, organization strategy, and new service development.

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

His profession started at Jumia Group, sports betting where he operated in SEO, CRM, and content management. Fikayo likewise 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 gaming platform that offers sports betting, gambling establishment video games, and live dealership video games. It was launched in 2017 and is owned and run by Marikit Holdings Ltd, a company registered 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, a company he established in 2013.

SportyBet is a worldwide sports betting and real-money gaming operator understood for providing an omni-channel home 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 role at SportyBet, Sudeep is an active investor in fintech and mobile payments and a strong advocate for the growing African web community. His financial investments reflect his commitment to promoting innovation and advancement within the area.

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

The firm is set to disrupt the sports wagering industry.

Sunbet Sporting International Limited has stated it is concentrated on revolutionising 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, sports betting according to reports from the African Sports Betting Association and PwC, the company aims to leverage innovative technology and a dedication to accountable sports betting to change the sector.

Backed by the financial power of four prominent African billionaires, Sunbet, which will launch in the very first quarter of 2025, aims to be the continent’s largest and most innovative sports betting wagering platform.

At a press instruction, the business’s representative, Akin Babatunde, said that the rise in Internet penetration, mobile usage, and the continent’s deep enthusiasm for sports betting, especially football, has set the stage for Sunbet’s enthusiastic entry. He included that the firm’s robust financial backing and professional group will allow it to scale and control the marketplace quickly.

Islamic cops raid wagering stores in northern Nigeria

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

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

Problems from community leaders and moms and dads triggered the crackdown, stressed over the growing number of sports betting addicts, he stated.

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

But Mr Aminudeen alerted that now that the general public understood that the Hisbah was clamping down on sports betting, sports betting those flouting the rules would be apprehended.

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

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

Nevertheless, sports betting the existing crackdown is concentrated on Muslim areas of Kano, a vast city and the economic hub of northern Nigeria.

Sports betting shops can be discovered all over the city. A lot of have television screens, and clients see the result of worldwide football matches or horse races on which they have staked cash.

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

“They do not have licences to operate as they were permitted to run computer game centres, which they later transformed to sports betting stores,” he said.

The sports betting wagering industry has actually broadened considerably throughout West Africa in recent years. The area is roughly divided in between a primarily Muslim north and a predominantly Christian south.

Many individuals go to bookmakers to delight in the camaraderie of other gamblers, though mobile apps are also popular for wagering on the outcome of occasions and teams.

Nigeria’s crippling economic crisis has actually likewise suggested individuals want to run the risk of a small amount in the hope of winning huge.

However this had resulted in extensive addiction, and sports betting moms and dads were even complaining that children were dropping out of school to bet, Mr Aminudeen stated.

“These financial concerns we are facing in Nigeria is God informing us to alter 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 advising those running those sports betting stores to either shut down or we’ll apprehend them and take them to [a Sharia] court,” Mr Aminudeen stated.

It is uncertain what punishment they would deal with – often, such violations carry a fine.

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