As online sports betting continues to gain tremendous popularity across Nigeria, many punters are becoming increasingly interested in understanding the ownership structures of the platforms they use. One platform that frequently comes up in these discussions is 22bet, which has established itself as a significant player in the Nigerian betting market. If you’ve ever wondered “who owns 22bet in Nigeria?” this comprehensive guide will provide you with all the essential information about the company’s ownership, licensing, and operations in the country.
The Complex Ownership Structure of 22bet
The ownership of 22bet reveals a complex international structure typical of many global betting operators. At the international level, 22bet is owned by Marikit Holdings Ltd (also referred to as Marikit Holdings Casinos), a company situated in Limassol, Cyprus. However, there are conflicting reports about the ultimate ownership, with some sources suggesting different parent companies.
Interestingly, some sources indicate that 22bet Nigeria is owned by TonyBet OÜ, a company registered in Estonia in 2009 and founded by Antanas Guoga, better known as Tony G, a famous Lithuanian poker player. This creates some confusion in the ownership structure, as different regions may operate under different corporate entities.
Adding another layer to this complexity, in Nigeria specifically, 22bet is owned by Arcadia Hospitality LTD, which serves as the local operating entity for the Nigerian market.
Legal Operations and Licensing in Nigeria
What matters most for Nigerian bettors is that 22bet operates legally within the country’s regulatory framework. 22bet Nigeria is licensed by the National Lottery Regulatory Commission (NLRC) for sports betting and casino operations, and also holds a license from the Oyo State Gaming Board.
The National Lottery Regulatory Commission serves as the federal regulatory body responsible for overseeing lottery and gaming activities throughout Nigeria. The NLRC is responsible for issuing licenses and permits, setting standards and guidelines/rules, and promoting transparency and integrity in the operation of a lottery/gaming business nationwide.
This dual licensing approach ensures that 22bet complies with both federal and state regulations, providing Nigerian players with legal protection and regulatory oversight. The licensing requirements are stringent, requiring operators to meet specific financial, technical, and operational standards before being granted permission to operate.
Corporate Registration and Technical Operations
The company’s office is registered and located at Parthenonos 5, Flat 103, 2020, Nicosia, Cyprus as a Billing Agent and operated by TechSolutions Group as a license holder. This international structure allows the company to leverage Cyprus’s favorable business environment while maintaining compliance with local Nigerian regulations through its local entity.
The choice of Cyprus for the main corporate structure is strategic, as many companies have headquarters located there because it has one of the lowest corporate tax rates in the EU at 12.5%. This arrangement is common among international betting operators who seek to optimize their corporate structure while maintaining regulatory compliance in their operating markets.
Platform Features and Market Position
Since its establishment in 2017, 22bet has grown significantly in the Nigerian market. 22bet provides more than 1000 major and minor sports events every day and suggests over 30 betting markets for each sport. The platform covers popular sports among Nigerian bettors, including football, basketball, tennis, and many others.
The company has invested heavily in localizing its services for the Nigerian market. Transactions by Nigeria Nairas are accepted by 22bet Nigeria betting company, and the platform supports popular local payment methods including bank cards, mobile money services, and even cryptocurrency options.
Regulatory Compliance and Player Protection
Operating under proper licensing ensures that Nigerian players have recourse and protection. The NLRC licensing system requires operators to meet strict standards regarding financial stability, technical capabilities, and customer protection measures. Licensees are required after commencing operations, to remit 3% tax on monthly sales turnover, one percent (1%) to the NLRC and (2%) to the National Lottery Trust Fund respectively.
This regulatory framework ensures that licensed operators like 22bet contribute to Nigeria’s economy while maintaining standards that protect players’ interests. The licensing system also requires regular reporting and compliance checks, providing ongoing oversight of the operator’s activities.
Conclusion: A Multi-Layered Ownership Structure
Understanding who owns 22bet in Nigeria reveals a sophisticated international business structure designed to operate efficiently across multiple jurisdictions. While the ultimate international ownership lies with entities based in Cyprus and potentially Estonia, what matters most for Nigerian players is that 22bet operates locally through Arcadia Hospitality LTD under proper NLRC and state licensing.
This structure ensures that Nigerian bettors can use the platform with confidence, knowing that it operates under the oversight of local regulatory authorities while benefiting from the resources and expertise of an international betting group. The multiple layers of licensing and regulation provide robust player protection and ensure that the platform adheres to both local and international standards for responsible gambling operations.
For Nigerian punters, the key takeaway is that 22bet is a legally licensed and regulated operator that combines international expertise with local compliance, making it a legitimate choice for online sports betting in Nigeria.
