Bet9ja Founder Kunle Soname's Billion-Dollar Journey
Kunle Soname: The Man Who Built Bet9ja From Scratch
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Kunle Soname left a promising political career to build Bet9ja, and the gamble paid off in a big way — his platform now tops Nigeria's sports betting market.
Bet9ja is Nigeria's best-known sports betting name, but the entrepreneur behind it seldom makes headlines. Kunle Soname, founder of Bet9ja, grew the company from a single offline outlet in Ogun State into a nationally dominant enterprise.
Born in Ikenne-Remo, Ogun State, Soname attended Federal Government College in Lagos before going on to a degree in Estate Management at Obafemi Awolowo University. He also completed a Political Science degree from Lagos State University and an MBA in Marketing Management in 1996. Soname entered politics in 2003, becoming Executive Chairman of Ikosi-Isheri Local Council in Lagos State for the period 2003 to 2011.
His competitive advantage went beyond the technology. He drew on to tap into mass audiences. Bet9ja scaled rapidly by combining offline accessibility with digital access, a strategy that almost no competitors matched in those early years.
At present, Bet9ja reports yearly revenue of around $750 million, ranking it as the continent's top-ranked sports betting operator. Soname's estimated net worth is now estimated at over $100 million, with some reports placing the figure as high as $500 million, even if these numbers are difficult to confirm given Soname's preference to keep finances private. For punters in Nigeria, the journey is relevant because it is the reason behind the depth of resources that Bet9ja puts into the product.
Beyond Bet9ja, Soname has built a multi-sector business empire. He chairs Remo Stars F.C., a NPFL side from Ikenne, Ogun State, the club that won the NPFL championship in 2025 as the first privately-owned side to do so. He also bought Clube Desportivo Feirense in 2015, becoming the first Nigerian to hold a stake in a European club. His ventures also span aviation via ValueJet, banking through co-founding Optimus Bank, manufacturing via Ceramco Trading, and agriculture via Kuker Farms in Abeokuta.
Bet9ja Statistics
Bet9ja records over $750 million in annual turnover, making it the continent's largest sports betting operator by revenue. [BusinessDay]
Nigeria's online gambling sector is projected to reach $3.63 billion by late 2025, making it one of the fastest-growing gambling markets globally. [Grokipedia / SportRadar data]
The company runs more than 5,000 retail agents across Nigeria, providing employment to many thousands of workers. [Nairametrics]
In 2019, Bet9ja invested more than N1 billion to secure its place as headline sponsor of Big Brother Naija, one of the most popular entertainment programmes in sub-Saharan Africa. [BusinessDay]
The country's over 220 million citizens includes a substantial and expanding base of young consumers, creating a globally competitive sizeable audiences for betting. [BusinessDay]
The platform was reported as Nigeria's second most popular website by Google at the time of measurement, above most major media and entertainment sites. [Nairametrics]
Did You Know?
You may not know that the platform was established together with Ayo Ojuroye, the executive currently holds the role of CEO, while Soname occupies the position of company chairman?
Bet9ja launched as an offline-only platform in Sagamu, before going to the web and nationally.
Remo Stars F.C., the club that Soname founded in 2004 as the name FC Dender, was moved from Lagos to Soname's home state as an expression of the chairman's pride in his roots.
The YOHAIG bonus code gives newly registered members a sign-up bonus on the initial deposit, which makes it a highly competitive sign-up offers on the market today.
The Bet9ja chairman became the first Nigerian to own a top-tier European football side when he bought a 70% stake in Clube Desportivo Feirense in 2015 via his company Tavistock Global Resource Limited.
Bet9ja partnered with Sportradar and NetEnt to enhance both the quality of its odds and its casino and virtual games catalogue.
The Bet9ja chairman also set up BLFA, a youth-focused talent development programme set up to develop young Nigerian footballers as a social intervention.
Whether you're a long-time Bet9ja customer or are only now learning about the platform for the first time, knowing the story behind Bet9ja adds context to why it has grown the dominant force it is in Nigeria. First-time bettors can enter the YOHAIG promotion code YOHAIG to claim a sign-up bonus — check out a current Bet9ja promotion code page for updated offer terms.
Sources
BusinessDay Nigeria — How Bet9ja's Kunle Soname Left Politics to Bet on a Billion-Dollar Industry (accessed March 2025)
Nairametrics — Meet Bet9ja's Kunle Soname (accessed March 2025)
Billionaires Africa — 9 Companies Owned by Kunle Soname (accessed March 2025)
Legit.ng — Full List of Companies Owned by Kunle Soname (accessed March 2025)
Grokipedia — Kunle Soname (accessed March 2025)
BusinessDay Nigeria — How Kunle Soname is Redefining Nigeria's Football Club Management (accessed March 2025)
