Kunle Soname does not court the spotlight the way tech founders do. He does not trend on social media. Yet the green-and-white Bet9ja logo is stamped across viewing centres, street corners, football jerseys and prime-time television. Behind it is a man who left his political career, and built what many now describe as Nigeria’s biggest sports betting platform, with over $750 million annual turnover.
His journey is less about luck and more about timing, instinct and understanding one thing deeply: Nigerians will always bet on football.
Born in Remo, raised in Lagos
Kunle Soname was born in Ikenne-Remo, Ogun State, but grew up in Lagos, where he attended Federal Government College for his secondary education. His academic path was unconventional, maybe even confusing.
He studied Estate Management at Obafemi Awolowo University, Ile-Ife graduating in 1988. He also studied Political Science at Lagos State University, and later, a Masters of Business Administration, Marketing Management in 1996. The dual exposure, property and politics, would later shape both his administrative style and his appetite for structured enterprise.
But before setting up betting shops and aviation fleets, Soname’s early ambition leaned toward public service.
A short political career
Soon after Nigeria’s return to civilian rule in 1999, Soname went into politics. By 2003, he had become the Executive Chairman of Ikosi-Isheri Local Council Development Area in Lagos State, serving out two terms till he left in 2011. He is credited with focusing heavily on infrastructure during his eight years in service, but one key project stood out.
The rebuilding of the Border Stadium at Olowora, Isheri, hinted at a bigger interest, football, one he would later take on seriously after his political career. While serving in public office, he founded Remo Stars F.C. aka FC Dender of Lagos.
In 2011, he left politics and after two years, reentered a more competitive arena.
The birth of Bet9ja
In May 2012, Soname incorporated KC Gaming Networks Limited, and by September 10, 2013, Bet9ja officially launched.
Sports betting existed in Nigeria at this time, with early players like Nairabet already in the game. However, it was still very much fragmented and largely informal. Internet penetration was growing fast, and so was football viewership with hordes of young people gathering at viewing centres every weekend.
Soname saw an opportunity and went for it. He did not launch Bet9ja as an online betting platform, but first established physical presence by getting trained agents to target viewing centres, before moving on to open betting shops around.
He secured licensing from the Lagos State Lotteries and Gaming Authority, addressing credibility concerns before they become a clog in the wheel. By 2016, Bet9ja reportedly hit $10 million in monthly turnover, and it has not slowed down since then.
Redefining the industry
While betting was generally becoming a trend among the youths, Soname had some ace cards up his sleeves that made the difference.
Bet9ja was offering competitive odds, simplified user interfaces, plus several virtual games like instant-result dog racing to keep customers engaged between football matches. Bet9ja went all the way to localize its offerings to Nigerians, with a vast agent network that reached every part of Nigeria.
Partnerships with data providers like Sportradar and casino content suppliers like NetEnt also strengthened credibility and product depth. In recent years, Bet9ja has integrated payment options from major Nigerian banks, making it even easier for users to fund their accounts.
The brand also bet heavily on visibility, spending over N1 billion in 2019 to become Headline Sponsor of the Big Brother Naija. It has also supported football as a sport, sponsoring Nigerian Professional Football League (NPFL) clubs.
As of 2025, Bet9ja was touted as Nigeria’s number one sports betting platform, with over 1,000 shops and 1200 staff nationwide, and more than 10 million users generating over $750 million in annual revenues.
Moving beyond betting to build an empire
While Bet9ja is still the most profitable venture for Soname, his entrepreneurship drive reaches other sectors. While building Bet9ja, he was also building and rebranding Remo Stars F.C., and by 2025, it became the first privately-owned club to win the NPFL title.
Soname also acquired Portuguese club C.D. Feirense, making him the first Nigerian to own a European football club. He has also taken his love for football beyond business, and established Beyond Limits Football Academy, where he invests in youth talent development as a social intervention initiative.
Kunle Soname has also made his entry into Nigeria’s aviation space. He founded ValueJet in 2018, although the airline did not launch flights till 2022 when it secured regulatory approval from the Nigeria’s Civil Aviation Authority and started on short-haul domestic routes. Over the years, it has acquired additional planes and expanded to more domestic routes, accelerating its drive to profitability.
Soname has interests in the agricultural sector through Kuker farms; a poultry processing business he runs in Abeokuta. He has other businesses like Ceramco Trading, a leading manufacturer of porcelain tiles and other wares in Ogun state, BLFA Hotel in Ikenne, and Kuker Holdings for asset management. He has a co-founding stake in Optimus Bank, a digital-first bank founded in 2023.
He now gives back to the society through the Bet9ja foundation which supports women’s scholarships, healthcare initiatives, vocational training and sports development for girls in underserved communities.
Former politician now worth over $100 million
Kunle Soname’s net worth is estimated to be well over $100 million, primarily driven by Bet9ja’s dominant market position. There are some sources pointing to figures as high as $500 million, but these figures are hard to verify as Soname’s wealth is mostly privately structured, and not listed on Forbes billionaires ranking.
For someone who left politics to enter a highly regulated space, Soname has quietly built and scaled a multi-million-dollar business in an industry now worth billions of dollars. His may not have been the first sports betting company in Nigeria, but he identified his edge and took a wild bet on it.
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