When it comes to sports betting in Nigeria, choosing a right payment method is one of the most vital aspects of your betting experience.
That is why it will be in the interest of our team of expert to carefully review and give you an insight into each bookie payment options in Nigeria and the best payment methods in Nigeria. Punters should note that none on our record came out short but have earned it. So take your time to read through this piece of information, so don’t let me waste much of your time and hit the ground running.
They have been quite a lot of payment platform available for punters in Nigeria to choose from. However, there are some which are the most common ones, notably, the traditional banking options, some which may include bank cards deposit options, ATM deposit method, among others. However, since the gambling industry in Africa is moving towards the era of digital transformation across all board. Perhaps we have seen an emergence of different payment options which is now invoked. The period of digital payment which gives bettors freedom and flexibility to pay most conveniently, some which are mobile money services, e-wallets, cryptocurrency and bank short code payment options are all emerging in the gambling space. However, in this section of our review, we have carefully selected the best payment options available for punters in Nigeria.
FirstMonie is an agent banking channel powered by the First bank of Nigeria. The process of using FirstMonie is straightforward. Punters can make use of the service by visiting any of the FirstMonie agent outlets nationwide. Note bettors need not have an account with the First bank or own a bank account all you need is the money you intend to deposit into your online betting account.
Opayis a one-stop mobile-based platform for payment, quick loans among other services their render powered by Opera. Punters can use this platform to store funds, transfer into your online betting account by login into Opay App on your device and click on “Betting” to select the bookie you intend and follow the instruction. Bettors can also make use of Opay service by visiting any of its recommended Agents nationwide. Read our article about Opay payment method here.
Card Deposit are made by a card issued by banks to its customers to withdraw and transfer fund to your designated account. There are different cards issued by banks debit/credit/prepaid cards, some which include Visa, Verve, NairaMastercard.
Bettors can make use of these cards by login into their online betting account by choosing the banking options. Then select deposit, the options will display then click on card deposit, choose the card brand, e.g. Visa to fill in the required details on your voucher to complete transactions, instantly your betting account will be funded.
The USSD Code is a mobile shortcodes service available for customers to facilitate instant cash transfers with just their mobile device without internet access. Punters can use this service to deposit into their online betting account. E.g. GTBank *737*amount*userid# follow the instruction as follows.
Perfect Money is a payment system that facilitates instant cash transfers. Buy bitcoin, fiat currency like USD, Euros or precious metals, of course, bettors can use this service to deposit into the online betting account. Note there are seven different ways you can fund your Perfect Money account through bank wire, instant bank transfer, bitcoin cash terminals, certified exchange, and E-currency, among others.
Quickteller is an electronic payment platform and mobile App based through which you can buy airtime, transfer fund and pay bills, meanwhile bettors can use this service to deposit into the online betting account. When using Quickteller their online gateway platform and mobile App available for both iOS and Android to make a quick deposit, open the Quickteller App and select pay bills. Then you can find the intend bookmaker select from the menu and enter your customer ID. Follow the instructions and your account will be funded instantly. Read out detailed guide to best betting sites for Quickteller here.
Quickteller ATM Deposit is a convenient payment platform owned by Interswitch. It enables bettors to purchase a wide range of goods and service over the internet and at any of the local Automated Machine nationwide. Of course, it an acceptable method of payment for punters, simply insert the ATM card, select pay bills and then enter a code. The code determines the amount deposit. After selecting the appropriate code, you are to enter your customer ID and possibly your mobile number.
Note to complete your transactions on Quickteller platform you’ll need a Credit card, debit card or prepaid card. While through ATM you’ll need a Quickteller card.
Interswitch is an electronic payment and digital commerce solutions an African-focused integrated digital payments commerce company that facilitates the electronic circulation of money as well as the exchange value between individuals and organization on a timely and consistent basis. It provides Nigerians with several payment gateway options including Verve, Webpay and Quickteller; Of course, bettors can use Interswitch to make a secure deposit into their online betting account. Go to your bookie banking options. Select menu click on deposit, choose Interswitch and select the card you want to use. After entering the deposit amount and confirming the transaction in your bookie account.
Paystack is a technology company solving payments problem for ambitious business accepting payment securely in multiple local and global payment channels. Of course, bettors can use these services to deposit into their online betting account by clicking on deposit icon on the bookie platform.
Then select paystack as seen, input the amount you wish to credit your account.
Select your deposit medium (either card or through the bank) click on the accept button and input your bank account/card details after that then click on confirm, your account will instantly be funded.
Skrill is an e-commerce business that allows payments and money transfers to be made through the internet. It is one of the most popular e-wallets. Skrill is accepted at most international bookmakers platform. Of course, Nigerian punters can use this service to deposit securely and received the payment instantly from offshore bookmakers and with Skrill e-wallets, it is free to deposit into bookie account using the Skrill e-wallets. Note funding your Skrill account using your bank credit/debit card Skrill will charge you a fiat of 1.45% for each transaction but receiving money is free.
Netteleris an e-money transfer service used to transfer money and from the merchant, such as forex trading, social networks firms. Of course, punters can use Netteler service by moving from the user bank account or Net+ card, e.g. Betway. You can also fund your Netteler account using dozens of partners including Bitcoin, Skrill, Visa, Webpay, Euteller, Trustly, Paysafe Card and AstroPay. Netteler is similar to ewallet, but unlike e-wallets, Netteler user can only have funds for a limited time in their Netteler accounts. Netteler charges a fee of 2.5% for most funding methods. Netteler withdrawal fees range between 0.5o$ and 12.75$ depending on where the money is being transferred too.
There are quite a lot of payment methods which varies depending on the bookmaker's platform. Quite a lot of bookies allow punters to choose the preferred options of payment method so we will be explaining each of these payment methods how you can utilize them to significant effect.
What is Internet banking?
Internet banking is straightforward. Simply means a method of conducting financial transaction over the internet. Customers can log in to their online bank account to pay bills, send money or receive fund electronically. Likewise, punters can choose to pay via online banking into their bookmaker account. For example, you could choose to select “Online Banking” from your operators’ platform or you login directly to your online banking account to deposit into your sportsbook account. Simply follow the instructions, and then provide the relevant information to complete your transaction. The fund would be transferred directly into your betting account.
What are Bank cards?
There are credit cards issued by banks to its customers depending on the kind of bank such players safe keep is fund though there are different kinds of credit cards upon your request from your bank provider. However, we will be highlighting some of the most popular ones in Nigeria which are Naira Mastercard, Visa, Verve among others customers can make use of any of this credit cards to complete any online transaction.
Therefore, punters can use the debit or credit card to make an instant deposit into their online bookie account by providing the details of the card upon the request of the bookmaker. Simply go to the banking section and select the “deposit” option when prompted, choose the credit card option of your as seen at the front of your card, e.g. Visa as your payment method and follow the instructions.
Note: Some bookmaker platform accepts Visa, while some might not receive it, you should follow the instruction provided depending on your preferred choice of the bookie.
What is Bank USSD Code Transfer?
It is the shortcode issued by banks to its customers to process transactions whether transfer or use it to deposit online betting account all transaction made with just a mobile device. However, different banks provide is own USSD code depending on your bank provider. Therefore the most popular one is the GTBank USSD Code *737*.
The beauty of bank UUSD code punters is not required to have internet connectivity before they can deposit to their online bookie account.
All you are required is to know your user id then proceed with the shortcode issued by your bank, e.g. *737*amount*user id# follow the instructions given to make an instant deposit to your bookie account. Note: unlike bank cards that you are required to have an internet connection to complete your transaction.
What is ATM deposit?
This process is usually conducted at any of the Automated Machine retail outlets nationwide. Though, to complete these transaction punters should know that there are a host of internet gateway payment platforms in Nigeria some which include Quikteller, and Interswitch, Paystack, among others. When using these platform punters should visit any of the ATM outlets along with their bank credit card simply insert your card, select, e.g. “quickteller” or “pay bills” and then follow the instruction to complete your transaction.
What is E-wallet?
An e-wallet, also known as a digital wallet, is an online service that allows users to store, send and receive funds. Though there are countless eWallets and they generally work in the same ways. You don’t need a bank account before you can make use of this service as it doses all what you the banking sector could do. Punters can use this payment method to fund their betting account once it funded and you can support it through wire transfer, credit/debit/prepaid card, bank account or voucher though all most all online betting site accepts e-wallets. Typically e-wallets transactions are secured and instant payment method.
Some of the most widely used e-wallets in include: Neteller, Paypal, Webmoney, Skrill, Qiwi, Epay, Nordea, Quickteller, Flutterwave
What is Cryptocurrencies?
Cryptocurrencies described as a digital currency. Was first known in 2009, cryptocurrencies are decentralized powered by blockchain, which means the central bank does not govern them. Perhaps unlike fiat currency that you can hold in your hand, cryptocurrency only exists online. Though, crypto has real-world value and is used to purchase real goods and services just as you can use cash to buy products. Many online betting sites don’t accept cryptocurrencies. But few that doses allow punters to use as many cryptocurrencies as possible. Still, there are different kinds of cryptocurrencies. Still, the most popular ones are Bitcoin, Ethereum, Ripple but they are over dozens of cryptocurrencies though some of the most popular bookmakers that accept crypto are 1xbet.com, 22bet.com among others.
We have taken you through all the best payments methods in Nigeria. Hopefully, I hope it does help you in choosing the right bookmaker when depositing/withdrawals on any of our top table best sports betting platform for payment in Nigeria. Learning about payment methods is a good start to your betting adventure, now take another step and learn how to make money with Free Bets and Accumulator Promotions using our extensive guides prepared by betting experts in Nigeria. Good luck!
Adeleye Awakan is a writer which is specifically for the Africa gaming industry, with over 4 years writing about African gaming industry, particularly thoughtful leadership Articles, bookmakers review and other sectors of Africa gaming space.