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

Gambling has developed considerably in Nigeria from standard forms like pool staking and Baba Ijebu to a successful sports betting wagering market. 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.
Slowly, sports betting with increased internet gain access to came virtual wagering, which parallels international patterns. The sports betting market is valued at $89.91 billion in 2023 and is predicted to nearly double to $182.02 billion by 2030.
In spite of economic obstacles such as inflation, Nigeria’s sports betting wagering sector has grown, drawing in millions, specifically amongst the vibrant market dealing with high unemployment rates.
Reports show that approximately 60 million Nigerians aged 18-40 actively engage in sports betting, driving an industry that produces an estimated yearly profits of N730 billion. The federal government has actually not gone undetected by this growth, which is thinking about regulatory procedures like excise 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 in spite of obstacles in enforcement. Problems such as inadequate age confirmation and marketing guideline breaches reveal industry regulative gaps.
Regardless of these obstacles, sports betting business continue to grow through effective business models and aggressive marketing methods, leveraging the creator influencer market.
These efforts have contributed to Nigeria’s robust $2 billion gambling sector, with CEOs playing vital roles in broadening audience reach and driving industry growth. Here are the CEOs of leading sports betting wagering companies who have significantly added to Nigeria’s $2 billion sports betting empire through their comprehensive audience reach.

Constable 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 career covers various functions in the video gaming and entertainment industry, consisting of operating at one of the United Kingdom’s biggest video gaming centres, The Palace Bingo Club, where he functioned as the Lead Engineer in a Bingo and sports betting Bowling Club.
Olaniyan holds a BSc in Geography from the University of Ilorin and sports betting a Master’s in Geographical Information Systems from the University of Glamorgan, Wales. Surebet247, founded in August 2011, has actually become a leading e-commerce organization in the sports betting and video gaming sector, running through online, mobile, and retail channels. The company was incorporated in Nigeria on November 7, 2006, and has actually given that broadened its existence, accomplishing 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 completely integrated environment that integrates pertinent sports betting material, engaging features, and a first-rate sportsbook.
Because taking the helm right before the pandemic, Sam has driven considerable development for LiveScore Group. The company’s worker headcount has actually increased by 29%, and annual revenue has risen from around ₤ 10 million to over ₤ 80 million.
Sam’s leadership and strategic vision have actually propelled LiveScore Group’s success and assisted shape the market’s instructions. LiveScoreBet has attained significant 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 previously served as the business’s Marketing and Operations Director sports betting because 2015. He joined Betway in 2013 and has actually been in the online gaming because 2000, holding different successful functions, consisting of General Manager of an information analytics group and Director of a digital marketing company.
Under Werkman’s leadership, Betway has actually continued to grow its market existence and improve its offerings. The company’s app has actually garnered considerable 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 sports betting executive with a performance history of transforming start-ups into institutionalized organizations. Her proficiency spans the gaming, property, and credit financing industries, where he has developed himself as a strategic and functional leader.
Damilare has actually been instrumental in NairaBET’s success for over 14 years. Since June 2019, she has served as Managing Director and has actually overseen the business’s development and operations in Lagos, Nigeria.
Before this, sports betting she was the Chief Operating Officer from 2010 to June 2019, pivotal in the company’s functional techniques and sports betting market growth.
She established DearDammy Women’s Initiative (DDWIN), sports betting a non-profit organization empowering women-owned companies. DDWIN offers frHer educational 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, Nigeria’s pioneering sports betting bookmaking company, developed the business in 2009. While NairaBET was not the first sports betting wagering platform in Nigeria, it was the first to launch a totally functional 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 international sports betting business based in Cyprus. 1XBET, founded in 2007 by the late Sergey Karshkov, sports betting has developed itself as one of the biggest bookmakers in Europe and sports betting the world. The business operates in more than 50 countries, consisting of Nigeria, where it is totally licensed.
Under Babalola’s leadership, 1XBET Nigeria has expanded its footprint in the competitive Nigerian sports betting market, using a wide variety of sports betting choices and sports betting 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 ventures, Ukanwoke has actually collaborated with African socio-economic institutions and federal governments to design developmental policies targeted 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, founded and launched 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 and entertainment business has actually quickly grown its existence in Nigeria, with outlets in significant cities and over 500,000 downloads on the Google Play Store.
In 2020, BetKing participated in a collaboration with the Lagos Employment Trust Fund, developing over 100,000 tasks, the variety of which is increasing yearly. 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 creator, bulk investor, and joint Chief Executive of Bet365, an online sports betting business she established in 2000. Bet365.com was launched in 2001 as an online sports betting site and has actually considering that grown into among the world’s biggest online sports betting business.
By 2016, Bet365 produced $2 billion in profits and facilitated $45 billion in annual bets. The company also holds a bulk stake in Stoke City Football Club. Bet365 has actually garnered 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 company in Nigeria, developed along with businessman Kunle Soname, who likewise owns Portuguese club CD Feirense and sports betting Nigerian club Remo Stars.
Ojuroye is also the Chairman of Mango Asset Management, an independent Nigerian possession management company that produces investment returns and offers special investment insights and sports betting options 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 management, Bet9ja has ended up being a significant player in the Nigerian sports betting market.
Fikayo Ogunfuye – Country Director 22bet
Fikayo Ogunfuye is a seasoned specialist in the sports betting wagering market. He has been functioning as the Country Director for 22BET in Nigeria since June 2021. In this role, sports betting he has actually contributed to the business’s development through collaborations, business strategy, and new business development.
Fikayo’s experience includes functions such as Chief Operations Officer (West Africa) at 22BET, where he managed product advancement and client experience, and Country Manager at 22BET, focusing on marketing method and budget plan management. Before 22BET, he led marketing efforts at LuckyBet.NG and sports betting held different digital marketing roles at Laclic Services and Betty Bingo.
His career began at Jumia Group, where he operated in SEO, CRM, and content management. Fikayo likewise 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 a Master of Science (MS) in Business Administration, Management, sports betting and Operations from ESTG University in Cotonou, Benin Republic.
22Bet is an online gaming platform that offers sports betting wagering, gambling establishment games, and live dealership video games. It was launched in 2017 and sports betting is owned and operated by Marikit Holdings Ltd, a business registered 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, a company he developed in 2013.
SportyBet is a worldwide sports betting and real-money video gaming operator sports betting known for delivering an omni-channel home entertainment experience in managed emerging markets. Under Ramnani’s management, SportyBet has become 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 financier in fintech and mobile payments and sports betting a strong supporter for the growing African web community. His investments reflect his commitment to promoting innovation and advancement within the area.
On April 30, 2024, Sudeep Ramnani bought Chowdeck, participating 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 revolutionising how countless Africans engage with sports betting. In an industry worth over $1.5 billion annual, with double-digit development projection in the coming years, according to reports from the African Sports Betting Association and sports betting PwC, the firm aims to leverage cutting-edge technology and a dedication to responsible gaming to revolutionise the sector.
Backed by the financial power of 4 prominent African billionaires, Sunbet, which will launch in the very first quarter of 2025, sports betting intends to be the continent’s largest and sports betting most ingenious sports betting platform.
At a press instruction, the business’s representative, sports betting Akin Babatunde, said that the increase in Internet penetration, sports betting mobile use, and the continent’s deep enthusiasm for sports betting, specifically football, has actually set the stage for Sunbet’s ambitious entry. He added that the company’s robust financial backing and sports betting expert group will allow it to scale and control the market rapidly.

Islamic authorities raid wagering stores in northern Nigeria

Islamic authorities in Nigeria’s northern city of Kano have actually begun closing down sports betting wagering stores, which they say are running unlawfully.
“As you understand, sports betting is prohibited in Islam,” Mujahid Aminudeen, deputy chief of the Sharia police force, called the Hisbah, told the BBC.
Complaints from neighborhood leaders and parents triggered the crackdown, stressed over the growing variety of gambling addicts, he said.
On the very first day of raids, sports betting 30 shops were closed in one suburb alone, and their owners were sent out home with a caution, the Sharia officer said.
However Mr Aminudeen cautioned that now that the general public was aware that the Hisbah was clamping down on gambling, those flouting the guidelines would be jailed.
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 permitted to operate in Kano’s Christian neighbourhoods, sports betting though they too can deal with action if the Hisbah believes Muslims are frequenting them.
Nevertheless, the present crackdown is focused on Muslim areas of Kano, sports betting a vast city and the financial hub of northern Nigeria.
sports betting wagering stores can be found all over the city. Many have television screens, sports betting and consumers watch the result of global football matches or horse races on which they have staked money.
Mr Aminudeen said such bookmakers had actually had the ability to operate under the radar as they had opened under false pretences.
“They do not have licences to run as they were permitted to run computer game centres, which they later transformed to wagering stores,” he said.
The sports betting industry has broadened dramatically throughout West Africa in recent years. The region is roughly divided in between a generally Muslim north and a primarily Christian south.
Many individuals go to bookies to enjoy the friendship of other gamblers, though mobile apps are also popular for sports betting on the outcome of events and groups.
Nigeria’s debilitating economic crisis has actually also suggested people are willing to risk a percentage in the hope of winning big.
However this had actually caused prevalent dependency, and parents were even complaining that children were leaving of school to gamble, Mr Aminudeen stated.
“These economic problems we are facing in Nigeria is God informing us to alter our ways by stopping sins,” he said.
The raids on Tuesday concentrated on Munjibir, considered a resort area in the northeast of the city– visitors flock there at weekends.
“I am encouraging those running those wagering shops to either shut down or we’ll jail them and take them to [a Sharia] court,” Mr Aminudeen said.
It is uncertain what penalty they would face – typically, sports betting such infringements carry a fine.
Sharia was introduced in Kano in 2000 – as it remained in 11 other Muslim-majority northern states – and prostitution, sports betting and the consumption of alcohol were prohibited.