The entrepreneur and philanthropist made this known today in Lagos during BTDT Hub Career Success Stories event.
Akin Alabi was invited as a guest speaker and presented with an Entrepreneur and Youth Development Award. Speaking at the event he said;
“Sports betting is not a business! It is not a form of investment! It’s a hobby you do for fun with a chance of winning money. If you try to invest your money in sports betting, I will eat your money!”
Otunba Akin Alabi is the author of the popular business and marketing book, Small Business Big Money.
Akin Alabi is the Mogaji (Head) of Ajiwogbo compound in Ibadan. He was appointed by the Olubadan of Ibadan, HRH Saliu Adetunji on Monday December 5, 2016.
Akin Alabi started his business career in 2003 writing and selling books, manuals and other information products. He proceeded to launching his own seminar and training company specializing in teaching and consulting for other young people starting their own small businesses.
He also started publishing a business opportunity newspaper titled INCOME (now rested) which became a bible for small business owners. To add to his publishing enterprise, Akin launched, World Soccer News, a weekly sports newspaper.
Akin has gone on to build many other businesses from scratch; one of them being NairaBET, Nigeria’s first online sports betting portal, with outlets across Nigeria.
He got the idea for NairaBET when he visited his brother in the UK and was introduced to sports betting. Seeing a business opportunity, he created an information product on how to place bets online from Nigeria and priced it at ₦4,500. The success of the product prompted him to start his own online sports betting platform in Nigeria.
Nairabet.com has its headquarters in Lagos with its Lagos operations licensed by the Lagos State Lotteries Board. Akin Alabi is involved in the Nigerian entertainment industry and he currently manages award-winning pop duo of Skuki and up coming artistes, Sheliroy and Benijamz. He owns state of the art recording and rehearsal studios among others.