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

sports betting has progressed considerably in Nigeria from standard forms like pool staking and Baba Ijebu to a successful sports betting market. Historically connected to European football leagues, 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 sports betting, which parallels international 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.
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In spite of economic obstacles such as inflation, Nigeria’s sports betting sector has thrived, sports betting attracting millions, especially amongst the vibrant market facing high unemployment rates.

Reports suggest that around 60 million Nigerians aged 18-40 actively engage in sports betting wagering, driving a market that creates a projected yearly earnings of N730 billion. The federal government has not gone undetected by this growth, which is thinking about regulative procedures like import tax tasks and VAT increases to manage the sector.

The National Lottery Act of 2005 recognized regulatory bodies like the National Lottery Regulatory Commission to guarantee reasonable operations in spite of obstacles in enforcement. Issues such as inadequate age verification and advertising guideline breaches reveal industry regulative gaps.

Regardless of these challenges, sports betting wagering business continue to flourish through effective company designs and aggressive marketing strategies, leveraging the developer influencer market.

These efforts have added to Nigeria’s robust $2 billion gambling sector, with CEOs playing vital functions in broadening audience reach and driving industry development. Here are the CEOs of leading sports betting companies who have substantially contributed to Nigeria’s $2 billion gambling empire through their extensive 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 varied profession spans various roles in the video gaming and show business, including operating at among the United Kingdom’s largest video 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, sports betting founded in August 2011, has actually grown into a leading e-commerce company in the sports betting and sports betting gaming sector, running through online, mobile, and retail channels. The company was integrated in Nigeria on November 7, sports betting 2006, and sports betting has since 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 brands and sports betting media. In 2019, he became the CEO of LiveScore Group, a completely incorporated ecosystem that combines relevant sports betting content, engaging functions, and a first-rate sportsbook.

Since taking the helm just before the pandemic, sports betting Sam has actually driven significant growth for LiveScore Group. The company’s employee headcount has increased by 29%, and yearly earnings has risen from approximately ₤ 10 million to over ₤ 80 million.

Sam’s leadership and tactical vision have moved LiveScore Group’s success and assisted shape the market’s direction. LiveScoreBet has attained significant user engagement, with over 100,000 downloads on the Google Play Store.
Anthony Werkman - CEO of Betway Group
Anthony Werkman was selected 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 actually been in the online gaming market since 2000, sports betting holding different successful functions, consisting of General Manager of an information analytics group and Director of a digital marketing agency.

Under Werkman’s leadership, Betway has actually continued to grow its market presence and boost its offerings. The business’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 differentiated herself as a senior executive with a performance history of transforming start-ups into institutionalized organizations. Her expertise covers the video gaming, real estate, and credit financing markets, where he has developed himself as a tactical and operational leader.

Damilare has contributed in NairaBET’s success for over 14 years. Since June 2019, she has actually served as Managing Director and has overseen the company’s growth and operations in Lagos, Nigeria.

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

She founded DearDammy Women’s Initiative (DDWIN), sports betting a non-profit organization empowering women-owned companies. DDWIN supplies frHer academic background consists of a Bachelor’s degree in Geology/Earth Science from the University of Ibadan, completed in 2005.

Akin Alabi, the creator of NairaBET.com, Nigeria’s pioneering sports betting bookmaking company, established the business in 2009. While NairaBET was not the first sports betting wagering platform in Nigeria, it was the first to launch a completely functional site, setting a benchmark 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 company based in Cyprus. 1XBET, founded in 2007 by the late Sergey Karshkov, has developed itself as one of the biggest bookies in Europe and the world. The company operates in more than 50 nations, including Nigeria, where it is fully licensed.

Under Babalola’s leadership, 1XBET Nigeria has expanded its footprint in the competitive Nigerian sports betting wagering market, sports betting providing a vast array of sports betting choices 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 teamed up with African socio-economic institutions and federal governments to develop developmental policies focused on empowering young people. In 2015, Ernst &amp