The $2 Billion Bet: Meet the CEOs Reshaping Nigeria's Betting Industry Despite Islamic Resistance > 자유게시판

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

sports betting has actually developed considerably in Nigeria from traditional kinds like pool staking and Baba Ijebu to a thriving sports betting market. Historically tied to European football leagues, pool staking was a typical sight at motor parks and sports betting kiosks, where enthusiasts would bet just N50-N200 on matches.

Gradually, sports betting with increased web 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 projected to almost double to $182.02 billion by 2030.

In spite of economic challenges such as inflation, Nigeria's sports betting sector has grown, attracting millions, particularly among the youthful group facing high joblessness rates.

Reports show that approximately 60 million Nigerians aged 18-40 actively engage in sports betting wagering, driving an industry that creates an estimated yearly revenue of N730 billion. The federal government has not gone undetected by this growth, which is thinking about regulatory procedures like excise tasks and sports betting VAT increases to handle the sector.

The National Lottery Act of 2005 recognized regulative bodies like the National Lottery Regulatory Commission to ensure fair operations despite obstacles in enforcement. Concerns such as insufficient age confirmation and marketing guideline breaches reveal industry regulatory gaps.

Regardless of these obstacles, sports betting wagering business continue to grow through reliable service models and aggressive marketing strategies, leveraging the creator influencer industry.

These efforts have actually contributed to Nigeria's robust $2 billion sports betting sector, with CEOs playing important roles in broadening audience reach and driving industry development. Here are the CEOs of leading sports betting wagering business who have significantly contributed to Nigeria's $2 billion gambling empire through their substantial 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 career spans numerous functions in the gaming and show business, including operating at one of 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, sports betting has turned into a leading e-commerce company in the sports betting and gaming sector, running through online, mobile, and retail channels. The company was integrated in Nigeria on November 7, 2006, and has given that expanded its existence, attaining over 5,000 downloads on the Google Play Store.

Sam Sadi - CEO Livescorebet

Sam Sadi has more than 25 years of experience in wagering brands and sports betting media. In 2019, he ended up being the CEO of LiveScore Group, a fully integrated environment that integrates appropriate sports betting content, engaging functions, and a world-class sportsbook.

Given that taking the helm just before the pandemic, Sam has driven significant growth for LiveScore Group. The business's employee headcount has actually increased by 29%, and annual revenue has risen from roughly ₤ 10 million to over ₤ 80 million.

Sam's management and strategic vision have moved LiveScore Group's success and assisted form the market's direction. LiveScoreBet has accomplished major 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, having actually formerly worked as the company's Marketing and sports betting Operations Director given that 2015. He signed up with Betway in 2013 and has remained in the online gaming market given that 2000, holding numerous effective roles, sports betting including General Manager of an information analytics group and Director of a digital marketing company.

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

Damilare Alabi, Co-Founder, Managing Director NairaBET

Damilare Alabi has actually distinguished herself as a senior executive with a performance history of changing start-ups into institutionalized services. Her expertise covers the gaming, sports betting realty, and credit financing markets, where he has actually developed himself as a strategic and functional leader.

Damilare has actually been instrumental in NairaBET's success for sports betting over 14 years. Because June 2019, she has actually functioned as Managing Director and has actually overseen the company's growth and sports betting operations in Lagos, Nigeria.

Before this, sports betting she was the Chief Operating Officer from 2010 to June 2019, essential in the company's operational strategies and market growth.

She founded DearDammy Women's Initiative (DDWIN), a non-profit company empowering women-owned organizations. DDWIN supplies frHer educational background consists of a Bachelor's degree in Geology/Earth Science from the University of Ibadan, finished in 2005.

Akin Alabi, sports betting the creator of NairaBET.com, Nigeria's pioneering sports betting bookmaking company, established business in 2009. While NairaBET was not the first sports betting wagering platform in Nigeria, it was the first to introduce a totally 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 global sports betting wagering business based in Cyprus. 1XBET, founded in 2007 by the late Sergey Karshkov, has established itself as one of the biggest bookmakers in Europe and sports betting the world. The company runs in more than 50 nations, sports betting consisting of Nigeria, where it is totally accredited.

Under Babalola's leadership, 1XBET Nigeria has actually broadened its footprint in the competitive Nigerian sports betting wagering market, offering a large range of wagering options 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 sports betting Chairman of Vend Capital. In addition to leading these endeavors, Ukanwoke has actually collaborated with African socio-economic organizations and federal governments to design developmental policies targeted at empowering young people. In 2015, Ernst & & Young honoured him as the Winner of the Accelerating Category-- World Entrepreneur of the Year.

BetKing, established and launched 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 wagering and home entertainment company has rapidly grown its presence in Nigeria, with outlets in major cities and sports betting 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 jobs, the variety of which is increasing each year. In the 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, sports betting majority investor, and joint Chief Executive of Bet365, sports betting an online sports betting company she developed in 2000. Bet365.com was introduced in 2001 as an online sports betting site and has actually since turned into one of the world's largest online gambling companies.

By 2016, Bet365 generated $2 billion in profits and assisted in $45 billion in yearly bets. The company likewise holds a majority 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 co-founder of Bet9ja, a leading sports betting company in Nigeria, established along with business owner Kunle Soname, who likewise owns Portuguese club CD Feirense and Nigerian club Remo Stars.

Ojuroye is also the Chairman of Mango Asset Management, an independent Nigerian asset management company that generates financial investment returns and offers distinct investment insights and options to both private 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 ended up being a substantial gamer in the Nigerian sports betting industry.

Fikayo Ogunfuye - Country Director 22bet

Fikayo Ogunfuye is a skilled professional in the sports betting wagering market. He has been working as the Country Director for 22BET in Nigeria since June 2021. In this role, he has added to the company's growth through partnerships, organization method, and brand-new organization advancement.

Fikayo's experience consists of functions such as Chief Operations Officer (West Africa) at 22BET, where he handled product advancement and client experience, and Country Manager at 22BET, focusing on marketing technique and budget management. Before 22BET, he led marketing efforts at LuckyBet.NG and held different 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 also 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 sports betting 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 wagering, sports betting casino games, and live dealership 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 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 established in 2013.

SportyBet is a worldwide sports betting wagering and sports betting real-money gaming operator understood for providing an omni-channel home entertainment experience in managed emerging markets. Under Ramnani's leadership, SportyBet has actually ended up being a considerable 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 sports betting in fintech and and a strong advocate for sports betting the growing African internet community. His investments show his commitment to promoting development and advancement within the region.

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

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

Sunbet Sporting International Limited has said it is focused on changing how countless Africans engage with sports betting. In an industry worth over $1.5 billion annual, with double-digit growth projection in the coming years, according to reports from the African Sports Betting Association and PwC, the company aims to take advantage of cutting-edge technology and a dedication to accountable gaming to revolutionise the sector.

Backed by the monetary power of four popular African billionaires, Sunbet, which will release in the very first quarter of 2025, intends to be the continent's largest and sports betting most ingenious sports betting wagering platform.

At a press rundown, the company's representative, Akin Babatunde, said that the increase in Internet penetration, sports betting mobile usage, sports betting and the continent's deep passion for sports betting, especially football, has actually set the stage for Sunbet's enthusiastic entry. He added that the firm's robust sponsorship and specialist group will enable it to scale and control the marketplace rapidly.

Islamic police raid wagering stores in northern Nigeria

Islamic cops in Nigeria's northern city of Kano have begun shutting down sports betting stores, which they state are running unlawfully.

"As you understand, sports betting is forbidden in Islam," Mujahid Aminudeen, deputy chief of the Sharia police force, known as the Hisbah, told the BBC.

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

On the very first day of raids, 30 stores were closed in one residential area alone, sports betting and their owners were sent home with a caution, the Sharia officer said.

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

Kano city is the capital of Kano state, which has a bulk Muslim population and operates the Islamic legal system - Sharia - along with nonreligious law.

Bookmakers and bars tend to be enabled to operate in Kano's Christian neighbourhoods, though they too can deal with action if the Hisbah believes Muslims are frequenting them.

Nevertheless, the present crackdown is focused on Muslim locations of Kano, sports betting a vast city and the economic center of northern Nigeria.

sports betting wagering stores can be found all over the city. A lot of have tv screens, and sports betting customers watch the result of global football matches or horse races on which they have staked money.

Mr Aminudeen stated such bookmakers had had the ability to run under the radar as they had opened under false pretenses.

"They don't have licences to run as they were allowed to run video games centres, which they later on converted to sports betting shops," he said.

The sports betting wagering industry has actually expanded drastically across West Africa in the last few years. The region is approximately divided between a mainly Muslim north and a mainly Christian south.

Many people go to bookies to take pleasure in the camaraderie of other bettors, though mobile apps are likewise popular for wagering on the outcome of occasions and groups.

Nigeria's debilitating recession has actually also implied individuals are willing to run the risk of a percentage in the hope of winning big.

However this had led to prevalent dependency, sports betting and sports betting parents were even complaining that children were leaving of school to bet, Mr Aminudeen stated.

"These financial issues we are dealing with in Nigeria is God telling us to alter our ways by stopping sins," he said.

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 stores to either shut down or we'll arrest them and take them to [a Sharia] court," Mr Aminudeen said.

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

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