Last updated on December 5th, 2023
Bank Transfer Sports Betting Sites in Nigeria
Online bookies have made it easier for gamblers to transact by accepting various payment options, one of which is bank transfers. Most players save their money in their bank accounts, so it makes sense to accept payments from them directly.
Due to its convenience, it’s hardly surprising that many online bookmakers in Nigeria accept it as a payment method. Read on to learn which Nigerian sportsbooks support bank transfers and how they function.
Online Sportsbooks That Accept Bank Transfers in Nigeria
Here is a list of some of the best sportsbooks that accept bank transfers in Nigeria:
Fees, Timing and Limits Applied by Bank Transfer Bookmakers in Nigeria
Each Nigerian bookmaker that accepts bank transfers comes with certain factors, some of which include fees, limits, and processing time. In this table, we’ll compare some Nigerian bookmakers using these factors.
| Bookmakers | Min. – Max. Deposit (₦) | Deposit Transaction Time | Deposit Fees (₦) | Min. – Max. Withdrawal (₦) | Withdrawal Transaction Time | Withdrawal Fees (₦) |
|---|---|---|---|---|---|---|
| Bet9ja | 100 – 9,999,999 | Instant | No fee | 1,000 – 9,999,999 | With 24 banking hours | No fee |
| BetKing | 100 – 10,000,000 | Instant | 20 – 100 | 1,000 – 10,000,000 | Instant | No fee |
| Betano | N/A | N/A | N/A | 2,000 – 40,000,000 | Up to 2 hours | N/A |
| Betbonanza | 100 – N/A | Instant | No fee | N/A | Instant | N/A |
| Frapapa | 100 – N/A | Instant | No fee | N/A | Instant | N/A |
The Pros and Cons of Betting with Bank Transfer
Each payment option has its advantages and disadvantages, and in the case of bank transfers, the pros tend to overshadow the cons completely. That said, here are the pros and cons of transacting with bank transfers on a sportsbook.
Pros
Bettors may find it convenient to use bank transfers as their go-to way of funding online gambling sites for a variety of reasons. Here are some of these reasons:
Safe and Open
Transferring funds via a bank is one of the safest and most reliable methods available today. In addition, all financial dealings are recorded and open to view so that gamblers may see the full details of every deposit and withdrawal.
No Registration Needed
You don’t have to register with new payment services. There is also no need to re-verify your identification or complete any of the other steps typically required when signing up for a new financial service.
Widely Accepted
It’s highly unlikely that gamblers will come across a betting site that doesn’t allow bank transfers for deposits or withdrawals. The bookies can get many of the same benefits as the players by eliminating the middleman, which can save money by lowering transaction costs.
Cons
Here is the disadvantage of transacting with bank transfers:
Slower Transaction Time
While some bank transfer techniques can be practically instant, some tend to be slower than other payment options. It takes roughly a few hours to a few days to process a transaction via bank transfer.
Top 5 Bank Transfer Bookmakers in Nigeria
With careful consideration, we’ll put together five of the best Nigerian bookmakers that accept bank transfers. We’ll give a small review of each of them below.
Bet9ja
Bet9ja is one of the most widely used gambling sites in Nigeria due to the sheer number of betting options it provides. You can bet on events even if your favourite sport isn’t one of them.
There have also been enhancements to the site that make it simpler to place wagers on athletic events. In this way, visitors may quickly choose the sport they’re interested in without having to go through a bunch of unnecessary options.
Bet9ja has been granted permission to conduct business by the Lagos State Lotteries Board. This guarantees that the site abides by the country’s primary gambling laws and levels the playing field for gamblers.
The company places a high priority on protecting its customers’ privacy. It uses Thawte SSL, a Fortinet firewall, and Dell servers to protect sensitive customer data.
BetKing
BetKing is an amazing sportsbook that operates in several African nations, including Nigeria. The bookmarker is well-known for its innovative betting features, which instill necessary trust in players. BetKing provides various sports betting options, including virtual sports, eSports, jackpot bets, and more.
It offers a wide variety of sports to bet on, as well as a live sports interface. BetKing’s sportsbook features over a thousand daily events. You can place bets on various sports, including volleyball, basketball, football, tennis, boxing, golf, and more.
This bookmaker is authorised to take bets by the Nigerian government’s National Lotteries and Regulatory Commission (NLRC). This ensures customers that the company is legal and operating within the Commission’s regulations. Players can contact the casino representative about any issue via live chat, email, or phone.
Betano
Betano is an exciting addition to the world of online betting. Betano launched its sportsbook in Nigeria after receiving excellent feedback in other countries. The Betano platform is appealing because of its many advantages, such as its numerous available markets and its intuitive mobile application.
In addition, there are many unique betting alternatives, and it has a great reputation for safety. Betano, one of the most prominent online bookmakers, has been recognised repeatedly for its outstanding performance in the gambling sector.
Betbonanza
BetBonanza was founded in 2014 and operates under licence no. 001370 issued by the Lagos State Lotteries Board. It’s an excellent online betting service because of its favourable odds, enticing bonuses, secure payment options, and user-friendly interface.
While it hasn’t always been a household name among Nigerian gamblers, the bookmaker has made great progress in improving its services. BetBonanza offers a wide range of betting markets in its sportsbook. Since gamblers are always looking for the right betting site, this gives the bookmaker an upper hand in the competitive market.
Are there any Transaction Fees with Bank Transfer
Most bookmakers don’t impose fees on bank transfers, allowing punters to transact on the sportsbook without incurring additional costs. However, before initiating a bank transfer, it’s a good idea to verify with your bank about the associated fees. While this may be true, most Nigerian bank transfer options offer zero or extremely low costs.
Conclusion
Betting sites that accept bank transfers ensure a safe and simple online gambling experience for their players. With this option, you can transact on your sportsbook account without worrying that your personal banking information will be leaked or hacked. While it’s not the quickest option to move money in and out of your account, it’s still one of the most popular.
FAQ
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Are there any fees associated with bank transfers?
Most casinos don’t charge a fee for bank transfers; however, you may have to check with your bank to confirm if they do.
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Are bank transfers safe?
This is one of the safest ways to transfer funds from one account to another. Your funds are safe because of the rigorous safety protocols in place.
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Do all sportsbooks support bank transfers?
You will discover that most of the best Nigerian betting sites offer bank transfers. If you have any doubts, verify the online gambling site by contacting sportsbook customer support.
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How long does it take to deposit and withdraw with a bank transfer?
For deposits, it may take one to five business days for funds to appear in your betting account. On the other hand, withdrawals take between one and ten business days to reach your bank account.
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Is it legal to use bank transfers for online betting?
Yes, it is. If a gambling site accepts bank transfers as a payment option, you can wager lawfully at that site.