Find Out Who Owns Frapapa Bet Now!
Although Frapapa is a new brand in the industry, it has expanded at a rapid pace. Today, thousands of Nigerian punters are members of Frapapa, betting on their favorite sports clubs and winning money. But if you haven’t decided whether or not to register and have doubts about the safety and transparency of the bookmaker’s operations, stay tuned. Here we’ll cover the main details of Frapapa as it is and what new players need to know about it.
About Frapapa in Nigeria
The bookmaker had a solid start to its operations in March 2021. Now the company has a large number of daily visitors, thousands of monthly sporting events to bet on, a wide selection of betting options, and payment methods for Nigerians. It also has responsive customer support methods, reliable gaming operators, a license from a reputable regulatory body, and numerous promotions. The company has significantly changed the path of Nigerian betting, introducing many innovative ideas to betting, including incredible live betting features, casino, and virtuals. As a result, Frapapa bet is getting recognition from many respective betting communities.
Who Is the Founder of Frapapa
Frapapa, one of the leading bookies in the industry, is owned by Soloti Gaming Limited in Nigeria, founded in 2021. In addition, the brand is licensed by the National Lottery Regulatory Commission, which means that the bookmaker operates legally and in compliance with the law, guidelines, and security standards. As a result, the brand has attracted thousands of betting enthusiasts across the country. Together with the top encryption security of the website and easy navigation, this brand will ensure a great betting journey.
Frapapa History
The brand is a fairly young bookmaker, having started operations just a few years ago. Therefore, the historical part of the company has nothing to compare with industry giants like 1xBet or BetWinner. However, the bookmaker is showing fantastic results with over 100,000 active users.
Country of Origin
Frapapa is based in Nigeria and is licensed by the local lottery commission. Playing with the local bookmaker is ten times safer, and the overall registration and betting process ensures higher trust. In addition, if you are betting with the local bookmakers, you can physically visit their office to resolve any problematic situation. Frapapa has a registered office at 10 Anuoluwapo Cl, Opebi 101233, Ikeja, Nigeria.
Year of Foundation
In general, the year in which the company started offering its services shows the level of seriousness. Experience and trust in betting are extremely important. Therefore, any newcomer has to make more efforts to attract new users. Despite all this, Frapapa was founded in 2021 and is moving in the right direction, offering top-notch betting services, intuitive websites and apps, and the best security measures.
Frapapa Online Betting in Nigeria
Legal entering the online betting sphere in Nigeria requires many aspects, including:
- Acquiring a license
- Choosing payment system providers
- Creating a team of software engineers to develop a good website
The website should have easy registration, deposit and withdrawal options, and excellent promotional pages. As a result, it makes it complicated to enter this market, and only a few can make it through this tough journey. And Frapapa has done it successfully, obtaining a local license to offer sports betting legally. To establish a beachhead and maintain popularity, the bookmaker must also have responsive customer support and a close connection between the administration and the users.
Bookie’s Achievements
Frapapa implements loads of features to keep the player interested. But the amount of money they invest in the business is staggering. Throughout its history, Frapapa has participated in 25 funding rounds with over 59 investors. In total, the company has raised tens of millions of dollars. This money has allowed them to build an amazing website, develop an app with convenient betting options, and attract many players. In addition, they have hired top gaming studios to provide casino games. Nowadays, Nigerian gamblers can spend their time playing their beloved sports, poker, blackjack, baccarat, and roulette games.
How Owns Frapapa?
Every betting site is owned by a company. As with any other business, it’s important to look at the brand from the inside out to assess the trustworthiness of the site. By finding the owner, we can understand the future of the brand, read the history of the company, and check other projects. Their current projects can explain the situation about the intentions of the company.
Frapapa Ownership Structure Overview
The CEO, founder, and director of Frapapa is Adebayo T. He has a fully structured company called Soloti Gaming Limited, with Frapapa being a trading name. Unfortunately, he does not give information about its structure, and don’t be surprised – not many even large sports betting companies have detailed information about ownership.
Ownership Changes Over the Years
The brand is well established, having appeared two years ago. During this time the bookmaker has been operated by Soloti Gaming Ltd. with only one entity. As a result, Frapapa has no corporate restrictions or debts.
Frapapa’s Impact on Nigeria
This bookmaker is one of 51 licensees of the National Lottery Regulatory Commission. And at least half of them are less known than Frapapa. This means that our patient is among the top 20 legal bookmakers in Nigeria. Certainly, it has a huge impact on Nigerian society, including the entire development of sports betting entertainment activities and the Nigerian economy.
Review of Online Sports Betting in Nigeria
As mentioned above, the Nigerian betting sphere is growing and introducing more and more new names. Today, according to the NLRC, only 51 names are listed as license holders in Nigeria. The organization has strict principles in regulation to make the gaming environment safer and better overall.
Quick note: Bookmakers without a license from the NLRC are prohibited from offering any betting services. Therefore, there is fierce competition among brands trying to get the license. It all affects the industry, and only you can decide in what way.
Frapapa’s Role in Promoting Sports and Entertainment in Nigeria
As long as the brand continues to evolve, it will enter new markets and introduce innovative betting features. It doesn’t just promote the love for betting but also the love for different sports disciplines. Frapapa attracts thousands of users and offers a huge sportsbook with many popular sports such as football, basketball, baseball, and tennis and less popular sports such as motorsports, eSports, horse racing, and various virtuals. In this way, the bookmaker promotes sports and allows betting on them.
Frapapa’s Impact on the Nigerian Economy
As the company expands, it begins to increase revenues and pay taxes. Taxes have a direct impact on the local economy. According to the most recent annual report, Frapapa’s revenue exceeds $5 million and is growing each year. As a result, Frappa pays over $1,500,000 to the state treasury each year.
Conclusion
Frapapa is a leading bookmaker in Nigeria, offering a wealth of excellent betting services. Even though the bookmaker is young, it has already gained some experience to offer the latest security measures, a fairly good number of payment methods, a convenient website, and an app. Most importantly, the site is regulated by the local Nigerian commission, which makes it legal to offer sports betting and gambling services.
