Who Owns NairaBET?

The Beginning of NairaBET

NairaBET was launched in 2009, becoming the first online sports betting company in Nigeria. It arrived at a time when internet access was expanding, and digital payments were beginning to gain trust.

The company was founded by Akin Alabi, a Nigerian entrepreneur who identified a gap in the market. After observing how betting shops operated in the UK, he realized there was no local equivalent offering similar services online in Nigeria. He returned home and built a platform tailored to the Nigerian market, focusing on football betting, local payment systems, and simple user experience.

This move positioned NairaBET as a trailblazer in the country’s emerging iGaming industry.

Who is Akin Alabi?

Akin Alabi is more than just a businessman. He’s an author, philanthropist, and currently a Nigerian lawmaker. Before founding NairaBET, he had experience running small ventures and teaching marketing strategies through books and seminars.

He studied Politics and International Relations at Lead City University in Ibadan and later earned a master’s degree in Marketing from the University of Liverpool.

Alabi’s entrepreneurial mindset and communication skills helped build trust in a brand that was offering something new and unfamiliar to most Nigerians at the time—online sports betting.

Does Akin Alabi Still Own NairaBET?

Yes. Akin Alabi is still the sole owner of NairaBET. In 2018, he officially stepped down as CEO to focus on his political career. A year later, he was elected to Nigeria’s House of Representatives, representing Egbeda/Ona Ara Federal Constituency in Oyo State.

Despite his shift toward politics, Alabi never distanced himself from the business entirely. He continues to oversee the brand’s long-term direction and holds a key role in strategic decisions. Day-to-day operations, however, are now managed by a professional executive team.

This separation of roles has allowed the company to continue growing while benefiting from Alabi’s strong public profile and business vision.

NairaBET’s Place in the Nigerian Betting Industry

Over the past decade, nairabet has established itself as a major force in Nigeria’s betting market. It operates a large number of retail shops across various states and offers a strong online platform that includes sports betting, virtual games, and mobile wagering.

The market has become more competitive, with brands like Bet9ja, SportyBet, and others entering the scene. Yet, NairaBET has remained relevant thanks to its brand loyalty, early mover advantage, and understanding of local preferences.

The platform’s local identity, including the use of Nigerian naira and native customer support, has helped it stand out in a field where many competitors rely on foreign infrastructure.

Brand Visibility and Partnerships

NairaBET’s visibility has benefited significantly from Akin Alabi’s public presence. His work as a lawmaker and speaker on business and entrepreneurship keeps the brand in the media spotlight.

The company has also engaged in partnerships with sports figures and influencers, including former footballers and athletes, which has helped strengthen its image among younger audiences.

These efforts have positioned the brand as not only a betting service but also a part of Nigeria’s broader sports and entertainment culture.

Is NairaBET Still Active?

Yes, NairaBET remains fully operational in 2025. The platform continues to offer betting on local and international sports, as well as virtual games and mobile solutions.

The company regularly updates its technology and products to meet evolving user expectations. While its retail shops still play an important role, the focus in recent years has shifted more toward improving the mobile and web experience for users on smartphones and tablets.

This shift reflects the broader trend in the Nigerian market, where mobile betting is growing rapidly due to increased smartphone penetration.

Ownership Summary

So, who owns NairaBET? The answer is clear: Akin Alabi. As the founder and current owner, he remains the visionary behind one of Nigeria’s most important betting companies.

More than a decade after its launch, NairaBET continues to shape the sports betting scene in Nigeria. It represents not just a successful business, but also a story of local innovation, entrepreneurship, and persistence in a fast-changing digital environment.