Gambling has developed into a fashionable habit, especially among the Nigerian youth. This is why many people are acquainted with the name Akin Alabi.
He is the founder of Nairabet, Nigeria’s first online betting platform and one of the best betting sites in Nigeria. Alabi is poised to churn out innovative ideas and explore new avenues in the industry. This explains his many corporate interests throughout the years and perhaps why he is regarded as one of Nigeria’s biggest online entrepreneurs.
Born on March 31, 1977, Ibadan in Oyo State is Akin Alabi’s place of birth – in the western part of Nigeria. He spent his childhood years there, finishing primary school at Command Children School, Ibadan. He then headed to Federal Government College, Enugu for secondary school. He proceeded to the west to pursue a Higher National Diploma in Business Administration at The Polytechnic, Ibadan.
Following his graduation, he attended the University of Liverpool in the United Kingdom to complete a course in Marketing. He subsequently earned a second degree in Intellectual Property Strategy from Harvard University in Boston, Massachusetts. The connections of business were already tugging at him at this point.
Akin began making manuals and selling books immediately after graduating from the polytechnic in 2003. Despite that many individuals had different ideas about his line of business, Akin preferred to identify himself as an information entrepreneur. Later, he founded a conference and training firm, where he lectured and advised companies.
He subsequently launched Income, a business venture publication aimed at small company owners. This magazine allowed him to continue his “information entrepreneurship” while also imparting his business knowledge to other small entrepreneurs. The businessman in him would not lose hope, and he continued to experiment with new company concepts.
He had several companies, including raising poultry, exporting and importing farm produce, as well as a travel agency. He also began publishing World Soccer News, a weekly sports publication. This publication served as a springboard for him to discover what other prospects soccer could provide.
Founding Nigeria’s First Online Betting Site
During a trip to the United Kingdom to meet his brother, he followed him to a betting shop. And instantly liked the idea of sports betting. Considering there was a great deal of interest in European football among Nigerians, Alabi saw a business opportunity.
After arriving in Nigeria, he proceeded to write an important project explaining how to place a sports wager online in Nigeria. The product’s potential large earnings were all Alabi needed to convince him to dive in with both legs.
He had previously researched the sports gambling business concept and realized it could be a huge success. But meeting so many individuals interested in exploring the idea assured him of demand for sports betting in Nigeria. As a result, Akin Alabi founded Nairabet in 2009.
His first company was the first to have an online platform where individuals could deposit funds, place a bet and withdraw winnings. Regulated by the National Lottery Regulatory Commission, the company has expanded to over a thousand agency branches across the country. With head office in Lagos, Nairabet is one of the most accessed African sports betting platforms.
Honors and Acknowledgment
In December 2016, the Olubadan of Ibadan, HRH Saliu Adetunji, named him as the Mogaji of Ajiwogbo residence in Ibadan. Akin Alabi is also associated with various humanitarian works for adolescents and widows through the Akin Alabi Foundation.
The Olugbole of Igbole Ekiti, HRM Oba Emmanuel O. Ajayi Adetiloye II, bestowed him with a chieftaincy title as the Otunba Atunlushe of Igbole Ekiti. The title was in recognition of his charitable deeds.
In 2018, he quit as CEO of Nairabet to pursue a career in politics. In March 2019, he was elected to the House of Representatives on the platform of the All Progressives Congress (APC). In Oyo State, he represents the federal constituency of Egbeda/Ona Ara.