Power Players and Prayer Police: The Future of Sports Betting in Nigeria > 자유게시판

Meet CEOs/MDs of business behind Nigeria's $2 billion Sports wagering market.

sports betting has actually progressed considerably in Nigeria from standard kinds like pool staking and Baba Ijebu to a flourishing sports betting wagering industry. Historically tied to European football leagues, swimming pool staking was a common sight at motor parks and kiosks, where lovers would wager as little as N50-N200 on matches.

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

Regardless of economic challenges such as inflation, Nigeria's sports betting wagering sector has actually prospered, drawing in millions, particularly among the younger demographic facing high unemployment rates.

Reports suggest that around 60 million Nigerians aged 18-40 actively engage in sports betting wagering, driving an industry that creates a projected yearly revenue of N730 billion. The federal government has not gone undetected by this development, which is thinking about regulatory steps like excise tasks and VAT boosts to handle the sector.

The National Lottery Act of 2005 recognized regulative bodies like the National Lottery Regulatory Commission to guarantee reasonable operations despite challenges in enforcement. Problems such as insufficient age verification and marketing guideline breaches show market regulative spaces.

Regardless of these difficulties, sports betting wagering companies continue to prosper through efficient company models and aggressive marketing strategies, leveraging the developer influencer industry.

These efforts have actually added to Nigeria's robust $2 billion gambling sector, with CEOs playing crucial functions in broadening audience reach and driving market growth. Here are the CEOs of leading sports betting companies who have actually significantly added 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 company he co-founded with Badmos Olasupo in 2011. His diverse career spans different roles in the video gaming and show business, including working at one of the United Kingdom's biggest gaming centres, sports betting 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, sports betting Wales. Surebet247, founded in August 2011, has become a leading e-commerce service in the sports betting and video gaming sector, running through online, sports betting mobile, and retail channels. The company was integrated in Nigeria on November 7, 2006, and has actually since expanded its existence, achieving 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 ended up being the CEO of LiveScore Group, a fully integrated ecosystem that integrates appropriate sports betting content, engaging functions, and a world-class sportsbook.

Given that taking the helm just before the pandemic, Sam has actually driven substantial growth for LiveScore Group. The company's worker headcount has actually increased by 29%, and annual income has actually surged from approximately ₤ 10 million to over ₤ 80 million.

Sam's leadership and tactical vision have propelled LiveScore Group's success and helped form the market's instructions. LiveScoreBet has actually 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 previously acted as the business's Marketing and Operations Director given that 2015. He joined Betway in 2013 and has remained in the online gaming market given that 2000, holding different effective roles, including General Manager of an information analytics team and Director of a digital marketing agency.

Under Werkman's leadership, Betway has continued to grow its market presence and enhance its offerings. The company's app has actually garnered 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 services. Her proficiency spans the gaming, real estate, and sports betting credit financing industries, where he has actually developed himself as a tactical and operational leader.

Damilare has actually contributed in NairaBET's success for over 14 years. Since June 2019, she has acted as Managing Director and has actually overseen 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 founded DearDammy Women's Initiative (DDWIN), a non-profit organization empowering women-owned businesses. DDWIN provides frHer academic background includes 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 company, developed business in 2009. While NairaBET was not the first sports betting platform in Nigeria, it was the first to introduce a fully functional site, 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 global sports betting wagering company 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 business runs in more than 50 nations, consisting of Nigeria, where it is fully certified.

Under Babalola's management, 1XBET Nigeria has actually expanded its footprint in the competitive Nigerian sports betting market, offering a wide variety 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 actually worked together with African socio-economic organizations and governments to develop 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 released in Nigeria on February 22, 2018, by Byron Petzer and sports betting Adekunle Adeniji, operates under the trademark name of Lake Ventures Ltd. This pan-African sports betting wagering and home entertainment business 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 entered into a partnership with the Trust Fund, sports betting developing over 100,000 jobs, sports betting the variety of which is increasing every year. 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, sports betting the founder, sports betting bulk shareholder, sports betting and joint Chief Executive of Bet365, an online gaming company she developed in 2000. Bet365.com was released in 2001 as an online sports betting site and has actually because become among the world's largest online gambling companies.

By 2016, Bet365 created $2 billion in revenues and assisted in $45 billion in annual bets. The business likewise holds a majority stake in Stoke City Football Club. Bet365 has amassed considerable user engagement, sports betting 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, developed together 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 possession management business that generates investment returns and provides special investment insights and options to both private and institutional customers.

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 actually become a substantial player in the Nigerian sports betting market.

Fikayo Ogunfuye - Country Director 22bet

Fikayo Ogunfuye is an experienced professional in the sports betting wagering industry. He has been acting as the Country Director for 22BET in Nigeria since June 2021. In this function, he has actually added to the business's development through partnerships, business strategy, 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 customer experience, and Country Manager at 22BET, focusing on marketing strategy and budget plan management. Before 22BET, he led marketing efforts at LuckyBet.NG and held different digital marketing functions at Laclic Services and Betty Bingo.

His career began at Jumia Group, where he operated in SEO, CRM, and content management. Fikayo also worked 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, sports betting casino video games, and live dealer games. It was introduced in 2017 and is owned and run by Marikit Holdings Ltd, a business registered in Cyprus and a subsidiary of Orakum N.V.. They are also the owners of Betwinner and sports betting 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 video gaming operator known for delivering an omni-channel entertainment experience in controlled emerging markets. Under Ramnani's management, SportyBet has actually become a considerable 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 investor in fintech and mobile payments and sports betting a strong supporter for the growing African internet community. His financial investments reflect his commitment to fostering development and development within the region.

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

The company is set to interrupt the sports wagering 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 yearly, with double-digit growth forecast in the coming years, according to reports from the African Sports Betting Association and PwC, the firm aims to utilize cutting-edge innovation and sports betting a commitment to responsible gaming to change the sector.

Backed by the monetary power of 4 prominent African billionaires, Sunbet, sports betting which will launch in the first quarter of 2025, intends to be the continent's biggest and most innovative sports betting platform.

At a press briefing, the company's representative, Akin Babatunde, said that the rise in Internet penetration, mobile use, and sports betting the continent's deep enthusiasm for sports betting, particularly football, has actually set the stage for Sunbet's enthusiastic entry. He added that the company's robust sponsorship and expert team will enable it to scale and dominate the marketplace quickly.

Islamic cops raid betting shops in northern Nigeria

Islamic authorities in Nigeria's northern city of Kano have begun closing down sports betting stores, which they say are running illegally.

"As you know, wagering is forbidden in Islam," Mujahid Aminudeen, deputy chief of the Sharia police force, referred to as the Hisbah, told the BBC.

Complaints from neighborhood leaders and sports betting moms and dads triggered the crackdown, stressed over the growing variety of gambling addicts, sports betting he said.

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

However Mr Aminudeen alerted that now that the general public knew that the Hisbah was clamping down on sports betting, those flouting the rules would be arrested.

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

Bookies and bars tend to be permitted to run in Kano's Christian neighbourhoods, sports betting though they too can face action if the Hisbah thinks Muslims are frequenting them.

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

sports betting wagering stores can be found all over the city. Most have television screens, and clients see the result of worldwide football matches or horse races on which they have staked money.

Mr Aminudeen said such bookmakers had been able to operate under the radar as they had opened under false pretences.

"They do not have licences to run as they were allowed to run video games centres, which they later converted to wagering stores," he said.

The sports betting market has broadened considerably across West Africa in the last few years. The area is approximately divided between a generally Muslim north and a mainly Christian south.

Many people go to bookmakers to enjoy the camaraderie of other gamblers, though mobile apps are likewise popular for sports betting on the result of events and groups.

Nigeria's crippling recession has actually also indicated individuals want to risk a percentage in the hope of winning huge.

However this had caused prevalent addiction, sports betting and parents were even complaining that kids were dropping out of school to bet, Mr Aminudeen said.

"These financial problems we are facing in Nigeria is God informing us to change our methods by stopping sins," he stated.

The raids on Tuesday focused 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 shops to either closed down or we'll arrest them and take them to [a Sharia] court," Mr Aminudeen stated.

It is unclear what penalty they would face - frequently, such violations carry a fine.

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