Who Is the Owner of NairaBet?

Nairabet is a rapidly growing sportsbook company that only operates in Nigeria but already has over a thousand outlets across the country. We think that this bookie has huge potential, as it is gaining more and more customers. But who stands behind this business? What is the secret of success? What makes Nairabet different from other sportsbooks? These and other questions will be answered in this article. You will know the rest about Nairabet in our review.

Who Is the Owner of NairaBet

Oloye Akin Alabi is the founder and owner of Nairabet. Popularly known as Othuba Akin Alabi, he is a successful politician and the author of many books, and he makes a lot of effort to maintain local charitable activities. Nairabet is not only another betting shop but the first Nigerian one. We think that the story behind the opening of this company and the fact that it is local make Nairabet so close to Nigerian sports fans.

The Beginning of Success of Akin Alabi

Akin was born on March 31, 1977, in Ibadan. 

It is worth making it clear that the boy was not born with a silver spoon in his mouth.

It means that he did not have as much initial fortune as any other businessman has. At first, he attended Command Children School and then Federal Government College. But Akin wanted to educate himself more and continued studying “Business Administration” at the university. Studying was very important for Akin because he knew that this path could lead him to success. However, the young man did not know exactly who he wanted to be, as did many of his peers. Though he knew exactly that he wanted to become rich.  

And studying paid him off. He tried to get a visa in Canada, but unfortunately, the authorities refused it. But getting this experience was very beneficial for Akin; he gathered all the facts about getting a visa and made an info product that was a hit among Nigerians and made him a huge profit.  

That money was the first brick in Akin’s career path. Then he started his own business and the money he received from that he used to move to England, to Liverpool, and to study marketing.  

The Origin of Nairabet 

When Akin lived in England, he first visited a betting shop. His brother took him there and showed him how betting works. And Akin Alabi was fascinated by it because it showed him that he could make more money easily. He did his best to study betting and how to place a stake successfully. He even made stakes instead of other people from Nigeria who could not access the betting shops at home. That made Akin question whether he could do the same in his motherland.

Initially, Akin was not only a good entrepreneur but a real sports fan. He published the periodic newspapers “Income” about finance and “World Soccer News” about football, which is truly widespread in Nigeria. 

Using money from the books he wrote and other business startups, Akin founded Nairabet in 2009. 

That was the first online betting platform in Nigeria. Eventually, this business expanded to over 1,000 betting shops all over the country. And its net worth is estimated to be more than $75 million.  

Akin Alabi Is the CEO of Nairabet

Akin started writing books in 2003, and the money he made he invested in start-ups and education. It was a huge success that, in less than a decade, he became CEO of the company. We think that Akin is a huge inspiration to young people in Nigeria who want to become successful. 

Overview of Akin Alabi’s Career and Achievements

Akin Alabi is also famous for his political ambitions. After being the CEO of Nairabet for quite a long time, he decided to start a political career. 

So, in 2018, Akin Alabi stepped down as the company’s leader.

It was a hard decision for Akin Alabi, but he genuinely needed it to concentrate more on the political campaign. 

So, in the fall of 2018, he emerged in the Progressive Congress House of Representatives. He made it and went on his way. It did not take Akin long to take the post of chairman of the House Committee on Intergovernmental Affairs.

There is an enormous list of things that Akin Alabi suggested to make Nigerians’ lives better. He launched a campaign against the police officer’s rude manner of communicating with the citizens because people were afraid of national security officials. He made a huge contribution to developing an e-learning system for students as a measure to resume the study process despite the COVID outbreak. Alibi also wanted to reduce the number of online loan companies that are not completely regulated by the government.  

Unfortunately, not all of the endeavors were implemented due to different reasons, but still, Akin Alabi is a very popular lawmaker because of his unprecedented struggle for the truth. 

What actually makes the figure of Akin Alabi so prominent among the other businessmen is that he devotes a lot of time to philanthropic work as the founder of the Akin Alabi Foundation, a non-profit organization that elaborates projects that are aimed at improving the overall well-being of Nigerians.

Nairabet Headquarters: Where Is Nairabet Located?

Nairabet is a trustworthy company because it was officially licensed by the National Lottery Regulatory Commission, an establishment regulating the gambling business. Because the business is so big, it has two offices. The headquarters of the company are located in Lekki.

Current CEO and Key People of Nairabet

As we mentioned earlier, Akin Alabi decided to leave his post as CEO of Nairabet in 2018. And the management of this business machine has been transferred to another person. But we could not find reliable information about the company’s current leader. Nevertheless, we can presume that the new director continued what Akin started because, according to traffic ranking site Alexa.com, Nairabet is one of the most visited wagering sites in Africa. And we think that we should shed more light on the sportsbook in particular. 

Short Review on Nairabet

Nairabet is a local Nigerian company, and they know exactly what the customer needs. However, we think that there are still some gaps to be filled. Here is a list of the sportsbook’s advantages and disadvantages:

How to Log Into the System 

Signing up has never been as easy as it is with Nairabet. You just need to open the official website on your mobile phone or PC and click on the green “Join” button at the top-right corner of the page.   

After following the steps required to log into the system, you can easily start placing bets with Nairabet. 

Bonuses  

Sadly, the service does not have a first-time deposit bonus. We think that it is a small drawback of the company because this option can attract new customers and is very important to professional and novice punters. Though the service has some daily cash prizes and other special offers. 

Available Payment Methods

Nairabet staff did their best to add more payment options for its users. Nairabet payment methods are:

• Bank transfer
• Agent
• Quickteller
• NIBBS
• Internet banking
• ATM card

Nairabet Technical Support 

Even if you are having some problems with the system, Nairabet’s support is at your disposal. You can contact them 24/7, as the crew is concerned about the punter’s platform use.

Nairabet Sponsorships 

To promote itself, Nairabet can cooperate with outstanding sports stars or popular teams. In the spring of 2023, Nairabet announced a sponsorship with Lekki United, a popular Nigerian soccer team. The football club expressed great enthusiasm about this contract and wrote on its official Twitter:

“The club is delighted to announce that it has secured a shirt partnership deal with sports betting giant, @NairaBET”.

Due to that sponsorship, the football team wears T-shirts with the Nairabet’s logo.

Nairabet’s Role in Popularizing Sports and Entertainment in Nigeria

Nairabet is not only about betting; the company also makes sports more attractive to young Nigerians. Due to its growth, this bookie will keep showing everybody how great it is to be a sportsman. We think that young Nigerians are also attracted to the fact that the sportsbook does not stand still and has eSports disciplines included in the list of betting options. We think that it can encourage young people to consider sports and wagering as a way to achieve success, as once did the founder of Nairabet. 

Conclusion

Akin Alabi made a huge leap to become a successful entrepreneur. He is a great example for young Nigerians that studying and perseverance can really improve everybody’s life. Even though Akin Alabi achieved success when his betting company, Nairabet, took off, he continued to search for more. He became a productive politician and philanthropist. Yes, Nairabet lost its leader as Akin took the decision to step down as CEO of the company. But the company continued to grow, and now there are a huge number of betting shops across Nigeria. We think that Nairabet is an extremely prospective bookie, and it has a lot more to show us.