The sports betting industry in Nigeria has experienced tremendous growth over the past decade, with international brands establishing significant presence in the market. Among these, 1xBet has emerged as one of the most prominent operators, but many Nigerian bettors remain curious about who actually owns and operates the platform locally. Understanding the ownership structure of 1xBet in Nigeria reveals an interesting franchise model that combines international expertise with local management.
The Local Owner: Beaufortbet Nigeria Limited
1xBet Nigeria is owned and operated by Beaufortbet Nigeria Limited, which operates under the license issued by the National Lottery Regulatory Commission of Nigeria. This local company serves as the franchise operator for the international 1xBet brand within Nigerian borders, ensuring compliance with local regulations while maintaining the global standards that have made 1xBet successful worldwide.
Beaufortbet Nigeria Limited is registered as a Private Company Limited By Shares with RC number 1260761, incorporated on 14 May 2015. The company operates from its registered office at 53 Marina Lagos and has been in operation in Lagos State since November 2015.
Key Leadership and Management
Dr. Oluwafemi Babalola serves as the CEO of Beaufortbet Nigeria Limited, representing the local face of 1xBet operations in Nigeria. Under his leadership, the company has successfully navigated the complex Nigerian regulatory environment while expanding the brand’s presence across the country. The National Lottery Regulatory Commission has issued sports betting permits to Beaufortbet Nigeria Limited trading as 1xBET, demonstrating the company’s commitment to legal compliance.
Global vs. Local Ownership Structure
While Beaufortbet Nigeria Limited owns the Nigerian operations, it’s important to understand the broader ownership context. The international 1xBet company was founded in 2007 and is headquartered in Cyprus, operating under a Curaçao eGaming License. 1xBet was founded by Sergei Karshkov with two co-founders Roman Semiokhin and Dmitry Kazorin, though the company now operates through a franchise business model in various markets.
This franchise approach allows 1xBet to maintain its global brand standards while ensuring local operators understand and comply with specific market regulations. In Nigeria’s case, this has proven particularly effective given the country’s complex regulatory landscape for gaming and sports betting.
Regulatory Compliance and Licensing
Beaufortbet Nigeria Limited operates with proper licensing from both the Lagos State Lotteries Board and the National Lottery Regulatory Commission. This dual licensing approach ensures comprehensive regulatory coverage across different levels of Nigerian government, providing additional security for both the operator and its customers.
In January 2022, 1xBet was granted a Nigerian national licence and expanded into the region, marking a significant milestone in the company’s African expansion strategy. This national license, combined with state-level permits, positions Beaufortbet Nigeria Limited as one of the fully compliant operators in the Nigerian market.
Physical Presence and Operations
Unlike purely online operators, 1xBet has onground shops for non-online players, demonstrating Beaufortbet Nigeria Limited’s commitment to serving all segments of the Nigerian betting market. The company’s registered head office is located at 9 Vannern Crescent, Maitama, Abuja, Nigeria, strategically positioned in the capital to facilitate regulatory relationships and nationwide operations management.
The physical presence extends beyond the headquarters, with dedicated physical shops across the country that ensure sports punters have the convenience of a walk-in center to physically place bets and receive payouts. This hybrid approach of online and offline services reflects the diverse preferences of Nigerian bettors.
Market Position and Growth
Since its entry into Nigeria, 1xBet has surged to the top echelon of the betting industry within a very short time. This rapid growth can be attributed to several factors, including the local expertise of Beaufortbet Nigeria Limited, the global reputation of the 1xBet brand, and strategic partnerships within the Nigerian sports ecosystem.
In 2018, 1xBet partnered with the Nigerian Football Federation and the African Confederation of Football, demonstrating the company’s commitment to supporting local sports development while building brand recognition.
Conclusion
The ownership of 1xBet in Nigeria represents a successful model of international-local partnership. While the global 1xBet brand provides the technology, expertise, and international reputation, Beaufortbet Nigeria Limited brings essential local knowledge, regulatory compliance, and market understanding. This combination has enabled 1xBet to establish itself as a major player in Nigeria’s competitive sports betting market while maintaining the highest standards of legal operation and customer service.
For Nigerian bettors, this ownership structure provides the best of both worlds: access to a world-class betting platform backed by international expertise, combined with local management that understands Nigerian market dynamics and regulatory requirements. As the sports betting industry continues to evolve in Nigeria, this franchise model may well serve as a template for other international operators seeking to establish sustainable, compliant operations in the market.
