GiBet Nigeria co-founder and CEO Ibukun Okeowo spoke exclusively with Adeleye Awakan about his education background. GiBet as a brand and him being, the youngest CEO in the gambling industry in Africa, as well as the current situation regarding Covid-19 pandemic and financial support is given to all they agents nationwide.
Adeleye Awakan: Brief description about yourself and the journey so far?
Ibukun Okeowo: I am a young entrepreneur, co-founder and CEO of GiBet, the youngest CEO in the gambling industry. I have a bachelor’s degree in Chemical Engineering from Loughborough University, UK and a Masters degree in Sustainable Resources: Economics, Policy and Transitions from University College London (UCL), UK. I am a passionate Manchester United supporter.
Adeleye Awakan: GiBet as a brand in Nigeria?
Ibukun Okeowo: GiBet is just over a year old. We are focused on both the online and retail sports betting markets. Our primary base of operations is in Lagos, but we are located across many states in Nigeria.
Adeleye Awakan: As it has been seen so far across the globe, the Covid-19 pandemic as affected the gambling industry. Which as resulted in the suspension of major sports leagues in Europe as well as people been quarantined in their homes. What impact this pandemic as had from the business perspective for GiBet Nigeria?
Ibukun Okeowo: No doubt, the covid-19 pandemic has influenced the global economy as a whole negatively. The sports betting industry, in particular, there are currently almost know betting games available. These as drastically harm the revenue of several sports betting outfits in Nigeria, especially in Nigeria, where retail betting is the primary focus. In contrast, currently, there is a restriction of movement in the majority of the states.
Adeleye Awakan: Perhaps since the pandemic outbreak that as hit the Sportsbetting industry across the globe. What is GiBet Nigeria doing to remain afloat in the business?
Ibukun Okeowo: As other brands are doing right now, we are trying to push online sales; virtually most of our sales are usually in the retail market. So we have been coming up with different ideas of launching new promotions offers to improve our online virtual transactions, and we have also uploaded Esports on our platform so players can have other betting markets. So the whole idea is to keep customers engaged during the Covid-19 pandemic.
Adeleye Awakan: Perhaps so far so good the gesture from GiBet brand cannot go unnoticed, one of the press releases the brand made public which got my attention was the 30 million Naira, GiBet would give to all is agent in Nigeria. Can you shed more light into this for our readers out there?
Ibukun Okeowo: Our agents have been profoundly affected by this pandemic. So we as a brand we realized many could go out of business since the restriction of movement has impacted their business some will not be able to pay for their shop rent or afford to feed their families even when things come back to the routine. So we as a brand we deem it fit knowing that our partners are our core assets, we should do our best to ease the burdens on them. As they’ve been our backbone for success, we’ve achieved so far in Nigeria.
Adeleye Awakan: Since the brand is relatively new in the country, Nigeria is often rated as a competitive and a big gambling market in Africa due to the numbers of operators in the country. What is GiBet doing to attract more customers to their brand? At the same time what are their doing to existing customers to remain loyal?
Ibukun Okeowo: Our biggest pride is how fast we pay our customers; it is no secret in the industry that Gibet is the fastest payment brand in Nigeria. We offer many promotions including our welcome bonus, our second deposit bonus, virtual games bonus, our agents sign up bonus and many more which can be found on our promotion page gibet.com
Adeleye Awakan: Do GiBet plan to lunching new products any time soon?
Ibukun Okeowo: Yes, we do, as of the moment online we have activated onex2 gaming and Kiron interactive virtual games, we also plan to lunch new virtual games in the nearest future.
Adeleye Awakan: The next five years where do you see the brand in the Nigerian gambling market?
Ibukun Okeowo: I see Gibet as one of Nigeria market leaders with our many promotions, overwhelming odds, our broader market of games and our fast payment. I do not doubt that GiBet will be at the forefront of customer’s minds when they are thinking of placing a bet.
Adeleye Awakan: Do GiBet have plans to expand the brand beyond the Nigerian market in the nearest future?
Ibukun Okeowo: In the nearest future no, but at some point in the future, yes.
Adeleye Awakan: Since the lunch of the brand lunched December 2018 in Nigeria, from your assessment, how do you rate the gambling market in Nigeria as well as the brand sales?
Ibukun Okeowo: Since the lunch of our brand, we have seen an exponential increase in our sales and network. To meet this demand, we upgraded our site and platform to provide a better overall experience for our customers. On the hand, Nigeria market is one of the biggest in Africa if not the biggest it is boss in is own right. Arguably one of the most advanced in the world, it is essential as a brand we kept on improving our platforms and offers we introduce in other to keep our customers happy with our brand offers.
Adeleye Awakan: What advice do you have for some investors out there that are interested in the Nigerian gambling market?
Ibukun Okeowo: The Nigerian gambling market is capital intensive make sure you plan and research on the kind of technology that would work well in the Nigerian gambling space; this would avoid continually having to change from platform to platform.
Adeleye Awakan: Finally, rate the gambling industry in Africa is the last 5 years?
Ibukun Okeowo: Gambling in Africa as a whole has been on a surge over the last ten years; I expect many more gambling firms or investors to try and break into the African market, as many as many countries have been virtually untapped.
