How Bet9ja's Kunle Soname Built A Billion-Dollar Empire
How Bet9ja's Kunle Soname Built a Billion-Dollar Empire
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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 leads Nigeria's sports betting market.
Bet9ja remains the country's leading sports betting platform, but the person behind it rarely makes headlines. Kunle Soname, co-founder and chairman of Bet9ja, built the business from a small offline operation in Ogun State into a $750 million-turnover business.
A native of Ikenne-Remo, Ogun State, Soname studied at Federal Government College in Lagos before going on to a degree in Estate Management at Obafemi Awolowo University. He later obtained a Political Science degree from Lagos State University and an MBA in Marketing Management in 1996. He moved into politics in 2003, becoming Executive Chairman of Ikosi-Isheri Local Council in Lagos State for the period 2003 to 2011.
Soname's edge was not just the platform. He leveraged his experience in public life to understand mass audiences. Bet9ja grew quickly by pairing on-the-ground presence with digital access, a strategy that almost no other bookmakers matched in those early years.
At present, Bet9ja reports yearly revenue of around $750 million, placing it as Africa's largest sports betting operator. Soname's personal net worth is put at over $100 million, with some reports suggesting a figure as much as $500 million, though these numbers are difficult to pin down given his preference to keep wealth private. For punters in Nigeria, the journey is meaningful because it underpins the depth of investment that continues to go into improving the experience.
Soname's business interests reach well beyond Bet9ja. In 2025, Remo Stars became the NPFL champions, the first privately-owned side to win the league. In aviation, ValueJet launched domestic operations in 2022 and has rapidly grown to more routes. The breadth of his portfolio shows a long-term approach to investing in sectors that touch the Nigerian consumer.
Bet9ja By the Numbers
The platform records more than $750 million in annual turnover, ranking it the continent's biggest online betting brand by revenue. [BusinessDay]
Nigeria's online gambling market is forecast to hit $3.63 billion by late 2025, cementing it as the fastest-growing gambling markets in Africa. [Grokipedia / SportRadar data]
Bet9ja runs more than 5,000 licensed agents spread across Nigeria, providing employment to an estimated 10,000+ of young Nigerians. [Nairametrics]
In 2019, Bet9ja committed above one billion naira to take on the role of headline sponsor of the Big Brother Naija reality TV show, which ranks as the most popular entertainment programmes in West Africa. [BusinessDay]
The country's over 220 million people includes a significant and growing young population, producing a globally competitive sizeable audiences for betting. [BusinessDay]
Bet9ja's website was identified as Nigeria's second most popular website according to Google at its peak, ahead of most local commercial websites. [Nairametrics]
Interesting Things About Bet9ja
Did you know that the platform was launched by Ayo Ojuroye, who currently holds the role of chief executive, while Soname takes on the position of chairman?
The company began as an agent-based business in Sagamu, before going online and across Nigeria.
Soname's football club, which Soname set up in 2004 as the name FC Dender, was moved from Lagos to Soname's home state as an expression of the founder's attachment to Ikenne.
Bet9ja's YOHAIG promo code provides new users an opening bonus on the initial deposit, which makes it a highly competitive registration bonuses in Nigeria at present.
The Bet9ja chairman became the first Nigerian national to hold a stake in a club in Europe when he took a 70% stake in CD Feirense in 2015 through his company Tavistock Global Resource Limited.
Bet9ja works with global data provider Sportradar and casino content provider NetEnt to enhance both its odds accuracy and its casino and virtual games catalogue.
Kunle Soname also set up BLFA, a grassroots initiative for young players aimed at invest in youth talent as a social intervention.
The Bet9ja chairman's rise is a reminder that reading a market correctly and committing early are what it takes to build something extraordinary. Bettors keen to get started on Bet9ja may want to enter the code to get a first-deposit bonus at sign-up. Visit the latest Bet9ja promo code listing for current welcome deal before signing up.
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)
