Payment Methods for Sports Bets 2023
There are several betting companies in Nigeria, and a closer examination of the country’s betting scene gives the impression that betting has been an important part of Nigerian society in recent years.
What options are there for making a deposit?
Are you new to online gambling and don’t know what deposit opportunities are open to Nigerian bettors? We’ve got some fantastic news for you! We’ll take you through the various payment options in this post. Furthermore, we will assist you in deciding which deposit form to use to finance your account.
For betting lovers, bookmakers in Nigeria offer a range of deposit options. As a result, depositing money into a betting account in the country is quick and straightforward. Here are some of Nigeria’s most common payment methods.
Credit/ debit card deposits
The majority of Nigerians have bank account and debit cards, most commonly MasterCard and VisaCard. As a result, card deposit is by far the most common method of deposit among Nigerians.
This method of payment is easy, fast and secure. To use this form, log into your account and choose “Debit/Credit Card” as your payment choice. Then, in the deposit section of your favorite betting platform, type your card information such as card number, CVV number to complete the transaction. In addition, to complete purchases, users receive an OTP code on their phone or by email.
As a result, this deposit approach provides users with an additional layer of authentication, which is one of the reasons for its success.
Deposit using Opay
Opay is a fairly young payment app, but because of its ease of use, its adoption is steadily growing. Despite its increasing success and adoption, this payment form is not available at all betting sites. This payment choice is available on the stables of Bet9ja and Betking — two of Nigeria’s most popular betting sites.
Opay is a smart place to make a deposit. This is due to the fact that all purchases on the website are secure.
You must first log into your Opay account in order to complete a transaction. However, you must have ample funds in your Opay wallet. Pick the appropriate betting location and fill in the necessary fields once you have access to your account. Both Android and iOS platforms are supported by the app.
How can I use Opay to fund my betting account?
- Open the Opay window.
- Choose your favorite betting place.
- Enter your user ID number.
- Fill in the number you’d like to put down.
- To double-check your records, your username and a transaction number will be shown on your computer.
- Choose a payment form and hit the “Pay Now” tab.
- Your transaction status is then shown on the screen if it is good.
- The funds appear in the account right away.
Quickteller as a method for deposit.
Quickteller is a commonly used payment method among Nigerian betting sites. Quickteller is both secure and reliable, but it does have a disadvantage. There are fees associated with using this platform! This fee varies between 25₦ and 100₦.
How do you use Quickteller to fill up your betting account?
- Click the “Quickteller” button on the betting site.
- Fill in your contact information, such as your email address and customer identification number, as well as the deposit sum.
- You should use a credit card or check a QR code to pay.
- If you select the QR code payment option, you’ll be asked to complete the transaction by scanning a barcode with your mobile banking app.
- Your betting account will be funded right away, and you will get an email confirmation.
Deposit via Interswitch
Interswitch is an African-integrated digital payments commerce firm that promotes an electronic movement of money and the exchange of value between individuals and organizations on a timely and reliable basis. It offers many payment portal solutions to Nigerians, including Verve, Webpay, and Quickteller. Of course, bettors can use Interswitch to make a safe deposit into their online betting account. Navigate to the bookie’s banking choices. Pick “Deposit” from the menu, then “Interswitch” and the card you choose to use. After you have entered the deposit number and confirmed the investment in your bookie account.
How to deposit with Interswitch
You can fund your Betway account using Interswitch via an ATM.
- Visit an Interswitch-enabled ATM.
- Insert your card and type your pin into the ATM.
- Choose your account form and the payment option “Paid Merchant.”
- Enter the Merchant Code here.
- Enter your account number here (which is the phone number you provided when creating your sports betting account).
- Enter the number you want to deposit and press the “Proceed” button.
- You will be notified of the sale, and the funds will appear in your betting account immediately.
Deposit using Firstmonie
Firstmonie is yet another common payment method in Nigeria. This is valid not only because it is a product of the First Bank of Nigeria, but also because of its dependability and quality.
Because of its speed and dependability, payment with Firstmonie is simple and straightforward. To use this deposit form, you must first download the Firstmonie app, which is available on the Google Play and App Store for Android and iOS users, respectively.
How can you finance your betting account using Firstmonie?
Here is a quick guide to help you quickly deposit your funds to your betting account using the Firstmonie:
- Access to the Firstmonie application
- Tap on your favorite place to deposit funds until you have arrived.
- Enter your special client ID number
- Choose your financing source
- Enter the deposit number, and then press “Continue”
- Enter the pin for the First Bank deposits to complete the transaction.
Deposit via Paystack
Paystack is a technology firm that solves payment problems for innovative businesses by receiving payments safely via various local and global payment networks. Of course, bettors will use these platforms to finance their online betting accounts by clicking on the deposit icon on the bookmaker website.
Then, as seen, select Paystack and enter the sum you want to credit your account.
Choose your deposit method (card or bank), click the approve button, enter your bank account/card details, and then click the confirm button. Your account will be funded immediately.
How to use Paystack to finance your account
- Log in to your favorite sports betting website and go to the “Banking” page.
- If Paystack is listed as a banking method, click it.
- When you click on it, a pop-up prompt will show asking you to type the amount of money you want to deposit. After that, press “Confirm.”
- You will be led to the Paystack tab, where you must enter your Paystack password and validate the payment.
- You will get an email verifying your order, and your funds will be deposited into your account immediately.
Deposit with GTBank
Guaranty Trust Bank, also known as GTBank in Nigeria, is one of the country’s largest financial institutions. In Nigeria, they have over 250 branches and over 1200 ATMs. As a result, anybody with a GTbank account could use it to make payments.
Aside from their extensive coverage, the quality and security of their services are what entice many Nigerians to make payments with GTBank. End-to-end encryption is used to secure transactions and user data. Other functions, such as one-time passwords (OTP Code), also ensure that there is no security violation when carrying out a transaction.
You would be spoiled for options when it comes to depositing funds into your GTBank betting account because they support a wide range of payment methods. There are several payment methods available, including USSD, GT Pay, online bank transfers, and ATM deposits.
How to finance your betting account with GTpay?
- Go to your betting site’s deposit section and type the number you want to deposit.
- You will be brought to the GTPay tab.
- Enter your chosen payment form (bank/credit card) here.
- Enter the email address associated with your bookmaker account.
- Please enter your credit card details.
- Enter your OTP.
- Click the “Pay” button.
- If you are successful, your account will be credited automatically.
Deposit using Zenith Bank
As you would have discovered during this tutorial, the USSD payment system is very common in Nigeria. Zenith Bank, being one of the largest financial institutions, has its own USSD payment scheme. This payment method is convenient, fast and safe. As a result, punters are drawn to it. That’s a no-brainer! They still have a plethora of other deposit options.
So, how do you pay money into your Zenith Bank account? We’ll walk you through the steps of depositing into your betting account through Zenith USSD and internet banking.
How to fund your betting account with Zenith USSD Code?
- On your mobile, enter the USSD code (*966*6*2389#).
- Enter the user ID for your betting account.
- Enter the sum of money you want to deposit.
- Confirm your contact information and the purchase.
- Your betting account will be automatically paid after a successful transaction.
How to fund your betting account with Zenith (Internet Banking)?
- Access your Zenith mobile banking app or internet banking.
- Select the menu option.
- Choose “Payment and Collection”
- Select the “Gaming/Lottery” group.
- Biller should be chosen (bookmaker of your choice)
- Enter the sum of money you want to deposit.
- Enter your user ID here.
- Following the end of the transfer, your betting wallet would be paid.
Deposit via ATM
Are you having difficulty depositing using web and smartphone deposit methods? Don’t be concerned! You will finance your betting account using ATMs that are within walking distance of one another.
It should not be difficult to find one, particularly in large cities. To make a deposit at an ATM, you must have a bank account and a legitimate ATM card. If you’ve located one, put your ATM card into the system and proceed before you reach the payment point. Many betting sites have an operating guide, so make sure you know what command to use at the Machine.
What are the withdrawal methods available?
Punters in Nigeria can withdraw their winnings from their betting accounts, using a variety of the following methods
Withdrawal via Bank Transfers
Many Nigerian gamblers withdraw their winnings through bank transfers. This is attributed to the efficacy of bank transactions. Withdrawals from betting accounts into bank accounts are processed easily and quickly.
However, it should be noted that the speed of payment varies between bookmakers. While bookmakers do not influence transaction time. Having said that, there are some bookies that payout quickly through bank transfer. Wazobet is an excellent example. They are well-known for regularly paying out customers via bank transactions. Bank transfers can take up to 24-48 hours depending on the bookmaker and the bank.
Punters have the option of selecting a bank to move their winnings to from a list of Nigerian banks sponsored by the majority, if not all of the bookmakers. Zenith Bank, Guaranty Trust Bank, United Bank for Africa, Access Bank, and several other financial institutions. It’s also worth noting that the required withdrawal balance differs from one bookmaker to the next.
Withdrawals via e-wallets
E-wallets are not very popular among Nigerian punters but they are offered as a withdrawal option in almost every betting platform. Though neglected by many bettors they are one of the fastest ways to withdraw your winning from a betting site. Some of the popular ones at Nigerian online betting sites include:
Skrill is an e-commerce company that facilitates online orders and money transfers. It is one of the most widely used e-wallets. Skrill is accepted by the majority of foreign betting sites. Of course, Nigerian punters can use this service to deposit safely and collect payment instantly from offshore bookmakers, and deposits into bookie accounts using Skrill e-wallets are free. If you finance your Skrill account with a bank credit or debit card, Skrill will charge you 1.45 percent of the purchase amount, but getting money is free.
Neteler is an e-money transfer service used to transfer money and from the merchant, such as forex trading, social network firms. Of course, punters can use the 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 e-wallet, but unlike e-wallets, Netteler users 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.
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