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

Gambling has actually progressed significantly in Nigeria from traditional kinds like pool staking and Baba Ijebu to a growing 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 bet as little as N50-N200 on matches.
Slowly, with increased internet access came virtual wagering, which parallels international patterns. The sports betting wagering market is valued at $89.91 billion in 2023 and is forecasted to almost double to $182.02 billion by 2030.
Despite financial obstacles such as inflation, Nigeria’s sports betting sector has prospered, attracting millions, specifically amongst the youthful group facing high unemployment rates.
Reports suggest that around 60 million Nigerians aged 18-40 actively take part in sports betting, driving a market that generates a projected annual earnings of N730 billion. The federal government has not gone unnoticed by this development, which is considering regulatory steps like import tax responsibilities and VAT boosts to manage the sector.
The National Lottery Act of 2005 established regulatory bodies like the National Lottery Regulatory Commission to make sure reasonable operations regardless of challenges in enforcement. Issues such as insufficient age verification and advertising rule breaches show industry regulatory spaces.
Regardless of these obstacles, sports betting companies continue to prosper through reliable company models and aggressive marketing methods, leveraging the creator influencer industry.
These efforts have contributed 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 wagering business who have actually considerably contributed to Nigeria’s $2 billion sports betting empire through their extensive audience reach.

Constable 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 profession covers various roles in the gaming and show business, sports betting including working at one of the United Kingdom’s biggest video gaming centres, The Palace Bingo Club, where he served as the Lead Engineer in a Bingo and Bowling Club.
Olaniyan holds a BSc in 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 turned into a leading e-commerce company in the wagering and video gaming sector, operating through online, mobile, and retail channels. The business was integrated in Nigeria on November 7, 2006, and has actually since broadened 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 sports betting brands and sports betting media. In 2019, he ended up being the CEO of LiveScore Group, sports betting a completely integrated community that combines pertinent sports betting content, engaging functions, sports betting and a world-class sportsbook.
Considering that taking the helm just before the pandemic, Sam has driven substantial development for LiveScore Group. The company’s staff member headcount has increased by 29%, and yearly income has actually risen from around ₤ 10 million to over ₤ 80 million.
Sam’s leadership and sports betting strategic vision have propelled LiveScore Group’s success and assisted shape 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 functioned as the business’s Marketing and Operations Director since 2015. He joined Betway in 2013 and has actually remained in the online video gaming market since 2000, holding various successful roles, including General Manager of a data analytics team and Director of a digital marketing agency.
Under Werkman’s management, Betway has continued to grow its market existence and enhance its offerings. The business’s app has garnered considerable user engagement, with over 100,000 downloads on the Google Play Store.
Damilare Alabi, Co-Founder, Managing Director NairaBET
Damilare Alabi has identified herself as a senior executive with a track record of transforming start-ups into institutionalized companies. Her knowledge spans the gaming, property, and credit lending industries, where he has developed himself as a tactical and functional leader.
Damilare has been instrumental in NairaBET’s success for over 14 years. Because June 2019, she has actually 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, pivotal in the business’s functional methods and market growth.
She founded DearDammy Women’s Initiative (DDWIN), a non-profit company empowering women-owned companies. DDWIN provides frHer instructional background consists of 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, established business in 2009. While NairaBET was not the first sports betting platform in Nigeria, it was the very first to launch a totally functional site, setting a benchmark in the industry.
Femi Babalola- General Manager of 1Xbet Nigeria Limited
Femi Babalola is the Managing Director sports betting of 1XBET Nigeria Limited, a franchise of the international sports betting wagering business based in Cyprus. 1XBET, sports betting founded in 2007 by the late Sergey Karshkov, has actually developed itself as one of the largest bookies in Europe and the world. The business operates in more than 50 nations, sports betting consisting of Nigeria, where it is completely licensed.
Under Babalola’s management, 1XBET Nigeria has actually broadened its footprint in the competitive Nigerian sports betting market, offering a vast array of wagering alternatives 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 Chairman of Vend Capital. In addition to leading these ventures, Ukanwoke has actually worked together with African socio-economic organizations and governments to design 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 introduced in Nigeria on February 22, 2018, by Byron Petzer and Adekunle Adeniji, operates under the brand sports betting 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 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, developing over 100,000 tasks, the variety of which is increasing every year. In the very same year, MultiChoice broadcaster bought a 20% stake in BetKing, sports betting which was increased to 49% in 2021.
Denise Coates – CEO Bet 365
Denise Coates is a British billionaire businesswoman, the founder, majority shareholder, sports betting 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 since become one of the world’s biggest online sports betting companies.
By 2016, Bet365 created $2 billion in profits and sports betting facilitated $45 billion in annual bets. The company also holds a bulk 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 sports betting co-founder of Bet9ja, a leading sports betting wagering business in Nigeria, established along with business person Kunle Soname, who also owns Portuguese club CD Feirense and Nigerian club Remo Stars.
Ojuroye is likewise the Chairman of Mango Asset Management, an independent Nigerian property management business that generates investment returns and provides distinct investment insights and services to both individual 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 become a significant player in the Nigerian sports betting wagering industry.
Fikayo Ogunfuye – Country Director 22bet
Fikayo Ogunfuye is a skilled specialist in the sports betting wagering industry. He has been acting as the Country Director for 22BET in Nigeria since June 2021. In this role, he has actually added to the company’s development through partnerships, organization technique, and new service development.
Fikayo’s experience includes roles such as Chief Operations Officer (West Africa) at 22BET, where he managed product advancement and sports betting consumer experience, and Country Manager at 22BET, concentrating on marketing technique and budget plan management. Before 22BET, he led marketing efforts at LuckyBet.NG and sports betting held various digital marketing roles at Laclic Services and Betty Bingo.
His career began at Jumia Group, where he operated in SEO, CRM, and sports betting content management. Fikayo also 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 sports betting platform that provides sports betting wagering, casino video games, and live dealer 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 business he established in 2013.
SportyBet is a worldwide sports betting wagering and real-money gaming operator understood for delivering an omni-channel entertainment experience in regulated emerging markets. Under Ramnani’s management, SportyBet has actually become a significant player in the market, sports betting with over 1 million downloads on the Google Play Store.
In addition to his function at SportyBet, Sudeep is an active financier in fintech and sports betting mobile payments and a strong advocate for the growing African internet ecosystem. His investments reflect his dedication to fostering development and sports betting development 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 disrupt the sports wagering market.

Sunbet Sporting International Limited has stated it is concentrated on revolutionising how millions of Africans engage with sports betting. In a market 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 sports betting PwC, the firm intends to leverage advanced innovation and a dedication to accountable gambling to revolutionise the sector.
Backed by the financial power of 4 popular African billionaires, Sunbet, sports betting which will introduce in the very first quarter of 2025, sports betting intends to be the continent’s largest and most ingenious sports betting wagering platform.
At a press instruction, the company’s spokesperson, Akin Babatunde, stated that the increase in Internet penetration, mobile use, sports betting and the continent’s deep enthusiasm for sports betting, sports betting particularly football, has set the stage for Sunbet’s enthusiastic entry. He added that the company’s robust sponsorship and expert team will allow it to scale and dominate the marketplace rapidly.

Islamic cops raid betting shops in northern Nigeria

Islamic police in Nigeria’s northern city of Kano have actually begun closing down sports betting wagering shops, which they state are operating illegally.
“As you understand, wagering is forbidden in Islam,” Mujahid Aminudeen, deputy chief of the Sharia police, known as the Hisbah, informed the BBC.
Grievances from community leaders and parents prompted the crackdown, stressed over the growing number of gambling addicts, he said.
On the first day of raids, 30 shops were closed in one suburban area alone, and their owners were sent out home with a caution, sports betting the Sharia officer stated.
However Mr Aminudeen alerted that now that the public knew that the Hisbah was clamping down on gambling, those flouting the rules would be apprehended.
Kano city is the capital of Kano state, which has a bulk Muslim population and operates the Islamic legal system – Sharia – alongside secular law.
Bookmakers and bars tend to be allowed to operate in Kano’s Christian neighbourhoods, though they too can face action if the Hisbah believes Muslims are frequenting them.
However, the current crackdown is focused on Muslim areas of Kano, a sprawling city and the economic hub of northern Nigeria.
sports betting wagering stores can be found all over the city. Most have tv screens, and consumers view the outcome of global football matches or horse races on which they have staked money.
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 stated.
The sports betting industry has broadened drastically throughout West Africa in the last few years. The region is approximately divided between a mainly Muslim north and a primarily Christian south.
Many people go to bookies to take pleasure in the sociability of other bettors, though mobile apps are also popular for sports betting on the result of occasions and groups.
Nigeria’s debilitating recession has actually also implied people are willing to risk a percentage in the hope of winning huge.
But this had actually led to extensive addiction, and parents were even complaining that kids were dropping out of school to bet, Mr Aminudeen stated.
“These economic concerns we are dealing with in Nigeria is God telling us to change 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 encouraging those running those sports betting stores 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 deal with – often, such violations bring a fine.
Sharia was presented in Kano in 2000 – as it was in 11 other Muslim-majority northern states – and prostitution, gambling and the intake of alcohol were prohibited.