Best Betting Payment Methods in Nigeria 2024

Gambling is all about making easy cash as much as it is about having fun online. To make some quick winnings you must stake which is why we have done our research on the best sports betting payment methods in Nigeria to make it less a hassle for you. If you’re wondering which deposit methods are the best, you will learn all there is to know about deposit methods, and find out which are available on your favorite betting sites.

Having the best betting sites on makes sense when you have the best online betting payment methods. This is because you can only enjoy wagering on your favorite sports or machine games in your casino section if you have enough money to stake. Similarly, winning at an online sportsbook or an online casino only makes sense if you can withdraw your winnings.

While gambling from brick and mortar casinos and betting shops meant that you had to bring load of cash with you, betting online only requires you to have a loaded account, bank app, e-wallet, or bank card. The latter, however, is not hassle-free. You have to provide your banking details and verify which can take a while compared to land-based betting shops. On the brighter side, once you’ve verified your payment methods, it will be easier to process future payments.
Online betting sites accept numerous payment methods which means that you’re spoilt of options. It also means that you might have a hard time settling on one or a few of the best, which you can access. Not to worry, we have all that you ought to know concerning sports betting payment methods, including the pros and cons of each method and how to access them if you don’t already have an account.
So, here are our top sports betting sites in Nigeria and their deposit methods:

The gambling industry has proven to be quite lucrative and innovative over the last decade. The growth has attracted numerous banks and banking technologies to providing their services to punters and operators. Betting sites have taken advantage of the pool of banking technologies which they are using to expand their clientele to accommodate all classes of punters while increasing their efficiency and convenience. Here are the most common types of deposit methods available in Nigerian sportsbooks:

Direct bank transfers

Also referred to as bank wires, direct bank transfers are as straightforward as they sound. They involve direct transfer of cash from a punter’s bank account to their betting account. Unlike many deposit methods, bank wires don’t involve third parties. If you’re looking for a deposit method you can use for withdrawals at multiple betting sites, bank transfer is the way to go.
Most if not all sportsbooks accept bank wires as both a deposit and withdrawal method.
Some of the banks that you can use for gambling in Nigeria include; Zenith bank, Wema bank, Heritage bank, Union bank, Polaris, FCMB, First bank, Fidelity Bank, and Unity bank among others.
All the sportsbook listed here at BettingTop10 accept bank transfer.

 Pros and Cons of using bank transfers

✅ Pros:

• Bank transfers are universally acceptable by numerous betting sites
• Bank transfers are normally available for both withdrawals and deposits
• They are eligible for claiming Sign-up bonuses
• Have high upper limits for withdrawals

❌ Cons:

• Bank transfers take long to process
• They usually attract extra charges

Bank cards: Visa Card, MasterCard, Verve

Bank cards are availed to punters on request by their respective banks. The aim is to increase convenience when making payments from your bank account. They exist as credit or debit cards which you can use to make instant deposits into your betting account.
Bank cards that are popular in Nigeria include: Visa, MasterCard, and Verve.
Bookmakers that accept cards:

• Verve: Bet9ja
• MasterCard, Visa: Betway, Bet9ja, Betwinner, NetBet, Bet365, 22Bet, 1xBet, and Parimatch

Pros and Cons of Using Bank Cards

✅ Pros:

• Not acceptable by all bookmakers
• Instant payments
• Not available as withdrawal methods for most betting sites

❌ Cons:

• You have to share your card details with bookmakers.

USSD

USSD id the short form for Unstructured supplementary Service Data which is a universal way of funding accounts via your mobile phone. The shortcodes differ from one bank to the other. To complete a deposit, you need to enter your user ID and ensure that you’re using the same mobile number you used for registration of your betting account.
Here are some examples of Nigerian banks that offer USSD betting payment services:

• GTBank- *737#
• First Bank- *894#
• Union Bank-*826#
• Zenith Bank-*966#

Bookmakers that accept USSD include:

• Betway
• Bet9ja
• Betwinner
• NetBet
• Bet365
• 22Bet
• 1xBet
• Parimatch

Pros and Cons of using USSD

✅ Pros:

• You can pay offline
• They are fast, efficient, and convenient
• Their charges are relatively low
• They don’t need you have a smartphone

❌ Cons:

• Not every bank offers USSD services
• You can’t use them to withdraw cash

E-wallets: Skrill, PayPal, Neteller

Popularly known as digital wallets, e-wallets are online services that allow you to save, make payments and receive payments. In short, you can use your bank accounts, bank cards, or other payment methods to fund your e-wallets.
Here’s a list of common e-wallets among punters in Nigeria and the bookmakers that accept them

• Skrill: 1xBet, Bet365, Betwinner
• PayPal: Betwinner, Bet365, Bet9ja, NetBet, 22Bet, 1xBet, Parimatch
• Neteller: NetBet, 1xBet 22Bet, Betwinner, Bet365, Parimatch
• Qiwi: NetBet
• ecoPayz: 1xBet
• Quickteller: Betwinner, Bet9ja, 1xBet, Betway, NetBet
• Epay: 22Bet

Pros and Cons of Using E-wallets

✅ Pros:

• You enjoy anonymity and security
• Payments are instant
• They are convenient and easily accessible
• Their charges are reasonably low
• They are available in mobile apps

❌ Cons:

• Not all betting sites accept e-wallet transactions
• Some bookmakers don’t approve sign-up bonuses for deposits made using e-wallets

Cryptocurrencies: Bitcoins, Ethereum, Litecoin, Dogecoin (Etc.)

Since 2009, the cryptocurrencies, which are digital currency developed under the blockchain technology have been making waves in the gambling sector. They online exist online but are available for making payments when accessing goods and services.
Some of the most popular cryptos in online betting sites include Bitcoin, Ethereum, Dogecoin, Litecoin, and Ripple to mention but a few. Some of the bookmakers that accept crypto deposits in Nigeria include 22Bet, Betwinner, and 1xBet among others.

Pros and Cons of Using Cryptocurrencies as Online Betting Payment Methods

✅ Pros:

• They are safe and anonymous
• They are a fast and convenient way of making deposits

❌ Cons:

• Not all sites accept cryptocurrencies
• Their values are highly volatile and fluctuates often

While rating online betting sites we always mention the importance of having numerous payment options. So, how do you pick one or a few of the many available at the bookmaker of your choice. We acknowledge that it can be confusing and so, we have made it easier for you.
Picking a payment method is not all. There’s always the one-million-dollar, who came first the egg or the chicken? Well, the situation is similar here. What should come first, the betting site or the payment method? In my opinion, both are as important. It all depends on your situation.
Do you have limited payment options? Then you should definitely go for a sportsbook that accepts what you have. If payment methods are not an issue for you, then you’re at liberty to check out our top bookmakers and see which ones have what you need in terms of betting products and site features.
How about you select a betting site with your desired payment methods and for the payment methods we can help you?
Here are some factors you should put into consideration when selecting online betting payment methods:

• Transaction charges (Fees)

Why use a payment method that attracts additional charges while you can use another for free? Again, some deposit methods may have relatively lower transactional fees than others. So, you can always go for cheaper methods if free is not an option (which is rare). But, don’t choose free over convenient. If a deposit method has a charge but serves you right, it might be worth the few naira.

• Limits

Every bookmaker has their deposit and withdrawal limits. Usually, the withdrawal limits are higher than deposit limits which are normally not the issue. The issue is using a deposit method that limits you while the bookmaker clearly has not set any limits for you.
Before selecting a payment, method be aware that your cards may have different limits from your e-wallets and your bank wires. If you’re a high bank-roller, you might want to consider bank wires which accommodate large payments.

• Currencies available

Does your desired payment method accept payments in Naira? The advantage of using a deposit method that facilitates transactions in our local currency is that you won’t incur additional conversion rates.

• Processing times

Why wait for a week while you can make your deposit instantly? Trust me, you don’t want to miss your bets just because you used a bank wire which could take up to 7 days to process. Usually, bank cards, e-wallets, internet banking and cryptos process payments instantly.

• How to withdraw your winnings

Making deposits and withdrawing winnings go hand in hand. Before selecting a deposit method, check whether its available as a withdrawal method to avoid extra issues. Some sportsbooks prefer that funds get withdrawn using the same method used for depositing.

In conclusion, try to strike a balance between all these factors. Don’t compromise on convenience to save a few naira or avoid a method that will save you the hassle of finding a withdrawal method just because limits seem smaller.

Bonuses and promotions are available to all users, from welcome bonus, to weekly bonuses. Some sportsbooks, however may require you to use a specific payment method to qualify for the bonus. For instance, Bet365 Nigeria requires that punters use safe methods such as AstroPay, PaySafeCard, Visa, MasterCard, and Bank wires to be eligible for their promotions.
Where payment methods are not an issue, you are eligible to claim for some common bonuses which include;

• Welcome bonuses:

A bonus available to all new users which comes in all sizes depending on what each bookmaker is offering. Usually, the sign-up bonus is offered in free bets, free spins, cash or a combination.

• Reload Bonuses:

These bonuses are offered to you for reloads made during a particular period or on certain days of the week. Sometimes, reload bonuses may be attached to specific deposit methods for eligibility.

• Accumulator of the day:

To get this bonus you ought to pick your bets from the day’s events. To qualify, you must only stake on this accumulator using stake from your account as opposed to using bonus credit.

• Weekly bonuses:

Sportsbooks occasionally offer bonuses for certain days of the week. To make the most out of these you need to be frequently active to get the updates when there is a bonus on offer.

• Bet9ja
• Betway

Betway and Bet9ja have the fastest payouts which get processed within a few hours. While Bet9ja may offer just the bank wire withdrawal method, its very efficient and swift. Betway on the other hand offers various fast methods of withdrawing winnings including PayPal, bank cards, and Skrill.
>> Learn more about the fastest payout betting sites in Nigeria

There are some payment methods that are only available on mobile betting apps. For instance, USSD is developed to help the mobile phone punters who don’t even need to be online to access their banking details.
Also, your withdrawal limit may increase when using a certain payment method on a certain sportsbook’s mobile version. So, what happens when you can’t use a certain deposit method on mobile? Its easy, just make the deposits on desktop and do the rest from your mobile.