Who is the Owner of Betking

Having its headquarters in Lagos State, with its over 100,000 employees, Betking has betting shops littered around the country, pleasing its thousands of customers.

• Company Name: SV Gaming Ltd T/A Betking
• Founded: February, 2018
• HQ Address: Plot 197, Adeleke Adedoyin Street Lagos NG, Off Kofo Abayomi St, Victoria Island 101241, Victoria Island.
• Subsidiaries: KingMakers Nigeria Ltd.
• Global Presence: Nigeria, Kenya, Ethiopia, Ghana, and more.
• Key Personnel: Gossy Ukanwoke (Managing Director), Austin Jay Jay Okocha (Brand Ambassador), Toyin Pinheiro (Chairman)
• Owners: Byron Petzer (CEO)

Betking was birthed and launched in Nigeria on the 22nd of February 2018 by Byron Petzer and Adekunle Adeniji. Betking is the trademark name of Lake Ventures Ltd, a pan-African sports betting and entertainment business concern.

The company, in 2020, entered into partnership with the Lagos Employment Trust Fund. This has had a positive effect on the state as it has led to a creation of over 100,000 jobs. Every year, this number is increasing. In September of the same year, MultiChoice broadcaster, bought a 20% stake in Betking, and increased that stake to 49% in 2021.

Betking has outlets in the major cities in Nigeria. It is licensed by the Anambra State Gaming Company, the Lagos State Lotteries Board, and was issued a gaming license by the Osun State Government. The bookmaker is also licensed by the National Lotteries Board.

The question of who owns the Betking company is one that needs some explanation. The Betking owner is the German international, Byron Petzer. He is the Betking CEO, Chief Executive Officer. However, as to who owns Betking in Nigeria, it was co-founded by Petzer and Adekunle Adeniji, a Nigerian entrepreneur. Combined, both men have a pedigree of business program development and betting experience.

Adekunle Adeniji was the first employee of Bet9ja, a company he left to kick off Betking and SV Gaming alongside Byron Petzer. He has good tech-business experience in gaming and lottery. Unfortunately, he is no longer a part of Betking, as he has since left.

When Betking services was officially launched in Nigeria, it revealed the African football legend Augustine Azuka Okocha, popularly referred to as Jay Jay Okocha, as its brand ambassador.

In 2020, after acquiring an initial 20% stake in Betking, MultiChoice the South African pay TV broadcaster, increased its shareholding to 49% in a 281.5 million USD deal, which was ratified in June 2021. MultiChoice’s initial investment value in Betking was said to be worth over 100 million USD.

For the end of the financial year, December 2020, Betking’s annual report showed a growth in revenue to 77.9 million USD, from 54.7 million USD the previous year. While, net asset value stood at 100.2 million USD. It's expected that the sports betting ecosystem will grow at CAGR (Compound Annual Growth Rate) of 10%.This is estimated at 134 billion USD, between 2020 and 2024, according to Technavio.

It is reported that about 60 million Nigerians between 18-40 years old, are actively involved in betting. Almost 2 billion NGN is spent daily on sports betting, which is nearly 730 billion NGN yearly. Outstandingly, Africa accounts for just 2% of sports betting revenue worldwide.

In Nigeria, Betking is among the big betting players that dominate the betting industry. The regional market is poised for significant growth, and at the end of 2023, it is expected that Betking's net worth would soar towards the 500 million USD mark.

There are a number of Betking offices in and around Nigeria where you can get information about operations and how to be an agent, KingMaker. Here are some of them:

• 7FIB Plaza, opp. Chicken Republic, Jakande Gate B/S, Ikotun Rd, Lagos;
• 1A Isolo Road, behind Total Petrol Station, Mushin Lagos;
• 5 Ojo Igbede Rd, St. Peter B/S, Alaba international, Lagos;
• 29 Pade Odanye Cls, behind Trevo, Adeniyi Jones, Ikeja-Lagos.

• 66 Old Market Rd, opp. MTN Office, Onitsha, Anambra;
• City Mall, beside Zenith Bank, Ogboefere Onitsha.

• 187 Sapele Road, opp. Domino's Pizza, Benin City;

• 199 Ikwere Road, along UST roundabout, Port Harcourt.