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

sports betting has progressed substantially in Nigeria from standard kinds like pool staking and Baba Ijebu to a successful sports betting market. Historically connected to European football leagues, swimming pool staking was a common sight at motor parks and sports betting kiosks, where lovers would wager as low as N50-N200 on matches.
Slowly, sports betting with increased internet access came virtual sports betting, which parallels global patterns. The sports betting market is valued at $89.91 billion in 2023 and is forecasted to almost double to $182.02 billion by 2030.
Regardless of financial obstacles such as inflation, Nigeria’s sports betting wagering sector has actually grown, bring in millions, particularly amongst the youthful group facing high unemployment rates.
Reports show that around 60 million Nigerians aged 18-40 actively take part in sports betting, driving an industry that produces an estimated annual income of N730 billion. The federal government has not gone unnoticed by this development, which is thinking about regulatory procedures like excise tasks and VAT boosts to manage the sector.
The National Lottery Act of 2005 established regulative bodies like the National Lottery Regulatory Commission to guarantee reasonable operations regardless of obstacles in enforcement. Problems such as inadequate age confirmation and marketing guideline breaches show market regulatory spaces.
Regardless of these challenges, sports betting wagering business continue to thrive through effective organization models and aggressive marketing techniques, leveraging the creator influencer market.
These efforts have added to Nigeria’s robust $2 billion gambling sector, with CEOs playing crucial functions in expanding audience reach and driving market growth. Here are the CEOs of leading sports betting wagering business who have actually substantially added to Nigeria’s $2 billion gambling empire through their substantial audience reach.

Sheriff Olaniyan – CEO Surebet247
Sheriff Olaniyan is the CEO of Surebet247, sports betting a sports betting book business he co-founded with Badmos Olasupo in 2011. His varied profession covers various functions in the gaming and show business, consisting of operating at among the United Kingdom’s biggest gaming centres, The Palace Bingo Club, where he worked 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 become a leading e-commerce company in the wagering and video gaming sector, running through online, mobile, and sports betting retail channels. The company was integrated in Nigeria on November 7, 2006, and has actually given that broadened its presence, attaining over 5,000 downloads on the Google Play Store.
Sam Sadi – CEO Livescorebet
Sam Sadi has more than 25 years of experience in sports betting brand sports betting names and sports betting media. In 2019, he became the CEO of LiveScore Group, a totally integrated community that combines pertinent sports betting material, engaging features, and a world-class sportsbook.
Given that taking the helm prior to the pandemic, Sam has driven considerable growth for LiveScore Group. The company’s employee headcount has increased by 29%, and yearly earnings has risen from roughly ₤ 10 million to over ₤ 80 million.
Sam’s leadership and tactical vision have actually propelled LiveScore Group’s success and assisted form the market’s direction. LiveScoreBet has achieved major sports betting user engagement, with over 100,000 downloads on the Google Play Store.
Anthony Werkman – CEO of Betway Group
Anthony Werkman was designated CEO of Betway in November 2017, having actually formerly served as the company’s Marketing and Operations Director because 2015. He signed up with Betway in 2013 and has been in the online gaming industry considering that 2000, holding numerous successful functions, consisting of General Manager of an information analytics group and Director of a digital marketing firm.
Under Werkman’s management, sports betting Betway has continued to grow its market presence and improve its offerings. The company’s app has actually garnered significant user engagement, with over 100,000 downloads on the Google Play Store.
Damilare Alabi, Co-Founder, Managing Director NairaBET
Damilare Alabi has actually identified herself as a senior sports betting executive with a track record of transforming start-ups into institutionalized companies. Her expertise spans the video gaming, property, sports betting and credit financing industries, where he has established himself as a tactical and operational leader.
Damilare has been instrumental in NairaBET’s success for over 14 years. Because June 2019, sports betting she has served as Managing Director and has actually supervised the business’s development and operations in Lagos, Nigeria.
Before this, she was the Chief Operating Officer from 2010 to June 2019, essential in the company’s operational methods and market growth.
She founded DearDammy Women’s Initiative (DDWIN), a non-profit organization empowering women-owned companies. DDWIN provides frHer educational background includes a Bachelor’s degree in Geology/Earth Science from the University of Ibadan, sports betting finished in 2005.
Akin Alabi, the creator of NairaBET.com, Nigeria’s pioneering sports betting bookmaking company, developed the business in 2009. While NairaBET was not the very first sports betting wagering platform in Nigeria, it was the very first to release a completely functional website, 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 worldwide sports betting wagering company based in Cyprus. 1XBET, founded in 2007 by the late Sergey Karshkov, sports betting has established 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 licensed.
Under Babalola’s management, 1XBET Nigeria has actually broadened its footprint in the competitive Nigerian sports betting wagering market, using a large range 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, sports betting and Chairman of Vend Capital. In addition to leading these endeavors, Ukanwoke has actually collaborated with African socio-economic institutions and federal governments to create 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, sports betting founded and introduced 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 entertainment company has quickly 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 Lagos Employment Trust Fund, developing over 100,000 jobs, the number of which is increasing yearly. 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 creator, bulk investor, and joint Chief Executive of Bet365, an online gaming business she developed in 2000. Bet365.com was launched in 2001 as an online wagering website and sports betting has because grown into one of the world’s largest online sports betting companies.
By 2016, Bet365 generated $2 billion in earnings and helped with $45 billion in annual bets. The business also holds a bulk stake in Stoke City Football Club. Bet365 has actually gathered significant 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, sports betting established 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 business that produces investment returns and offers distinct financial investment insights and solutions to both private and institutional customers.
Founded in 2012 under KC Gaming Networks, Bet9ja has actually rapidly grown in appeal, with over 1 million downloads on the Google Play Store. Under Ojuroye’s leadership, sports betting Bet9ja has ended up being a substantial gamer in the Nigerian sports betting wagering industry.
Fikayo Ogunfuye – Country Director 22bet
Fikayo Ogunfuye is a seasoned specialist in the sports betting market. He has been functioning as the Country Director for 22BET in Nigeria because June 2021. In this function, he has actually added to the business’s development through partnerships, business method, and brand-new organization development.
Fikayo’s experience includes roles such as Chief Operations Officer (West Africa) at 22BET, where he managed item advancement and client experience, and Country Manager at 22BET, concentrating on marketing method and spending plan management. Before 22BET, he led marketing efforts at LuckyBet.NG and held various digital marketing functions at Laclic Services and Betty Bingo.
His career began at Jumia Group, where he worked in SEO, CRM, and sports betting content management. Fikayo likewise 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 provides sports betting wagering, casino video games, and live dealer video games. It was released in 2017 and 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 established in 2013.
SportyBet is a global sports betting wagering and real-money video gaming operator understood for delivering an omni-channel home entertainment experience in regulated emerging markets. Under Ramnani’s leadership, SportyBet has ended up being a considerable player in the industry, with over 1 million downloads on the Google Play Store.
In addition to his function at SportyBet, Sudeep is an active investor in fintech and mobile payments and a strong advocate for the growing African internet ecosystem. His investments show his dedication to promoting innovation and development within the region.
On April 30, 2024, Sudeep Ramnani invested in Chowdeck, sports betting taking part in a seed round valued at $2.5 million.
The firm is set to interfere with the sports betting industry.

Sunbet Sporting International Limited has said it is focused on revolutionising how millions of 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 utilize advanced innovation and a dedication to accountable sports betting to revolutionise the sector.
Backed by the financial power of four prominent African billionaires, Sunbet, which will release in the first quarter of 2025, aims to be the continent’s biggest and most innovative sports betting platform.
At a press rundown, the company’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 added that the company’s robust financial backing and specialist team will allow it to scale and sports betting dominate the marketplace rapidly.

Islamic police raid betting stores in northern Nigeria

Islamic authorities in Nigeria’s northern city of Kano have actually begun shutting down sports betting wagering shops, which they say are operating unlawfully.
“As you know, sports betting is forbidden in Islam,” Mujahid Aminudeen, deputy chief of the Sharia police, referred to as the Hisbah, sports betting told the BBC.
Problems from neighborhood leaders and parents triggered the crackdown, stressed over the growing variety of sports betting addicts, sports betting he said.
On the very first day of raids, 30 shops were closed in one residential area alone, and their owners were sent home with a warning, the Sharia officer stated.
But Mr Aminudeen warned that now that the general public was aware that the Hisbah was clamping down on gambling, those flouting the guidelines 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 – together with nonreligious law.
Bookmakers and bars tend to be allowed to operate in Kano’s Christian neighbourhoods, though they too can deal with action if the Muslims are frequenting them.
Nevertheless, the current crackdown is focused on Muslim locations of Kano, sports betting a sprawling city and the economic center of northern Nigeria.
Sports betting stores can be discovered all over the city. Many have television screens, and sports betting consumers watch the outcome of global football matches or horse races on which they have actually staked money.
Mr Aminudeen stated such bookmakers had been able to operate under the radar as they had actually opened under false pretences.
“They do not have licences to operate as they were allowed to run computer game centres, which they later on converted to wagering shops,” he stated.
The sports betting market has actually broadened significantly across West Africa over the last few years. The area is roughly divided in between a generally Muslim north and a primarily Christian south.
Many people go to bookmakers to take pleasure in the camaraderie of other bettors, though mobile apps are also popular for wagering on the outcome of events and sports betting teams.
Nigeria’s debilitating economic crisis has actually also meant individuals want to risk a percentage in the hope of winning big.
However this had actually resulted in prevalent dependency, and parents were even grumbling that kids were leaving of school to bet, Mr Aminudeen stated.
“These financial issues we are dealing with in Nigeria is God informing us to change our ways by stopping sins,” he stated.
The raids on Tuesday concentrated on Munjibir, thought about a resort area in the northeast of the city– visitors flock there at weekends.
“I am recommending 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 unclear what punishment they would face – often, such infringements carry a fine.
Sharia was presented in Kano in 2000 – as it remained in 11 other Muslim-majority northern states – and sports betting prostitution, sports betting gambling and the consumption of alcohol were prohibited.