The goal of any sportsbook or other gambling enterprise owner is, of course, to turn a profit. It is highly probable that any individual or corporation planning on establishing a sportsbook may not have banking options as their top priority. However, having a sportsbook is useless if customers can’t deposit and withdraw funds easily.
As a first step, a sportsbook’s ability to accept a variety of banking methods is crucial to the satisfaction that new and returning customers derive from using the site. This is due to the fact that in today’s sports betting market, all bookies essentially provide the same services.
Only exceptional features like banking options set them apart from competitors. A Sportsbook can lose a customer if they can’t bet due to problems with their banking options. This happens because when a customer makes a deposit, he essentially entrusts the betting site with his money.
As a gamer, signing up with a sportsbook is a big step, and you should prioritise how quickly and easily you can fund your account or make withdrawals. The deposit and withdrawal options offered by a Sportsbook should be communicated to new consumers at the time of registration. Questions like “is there a limited number of payment choices or a large number of them?” should be satisfied to each customer. As expected, each choice has benefits and drawbacks, and your preferences and circumstances as a player may dictate the best fit.
Hundreds of payment methods are available nowadays in many regions, including Africa. However, it’s a pity that many of them can’t be used by players in actual gambling because they’ll be prohibitively expensive. This happens because banks and other financial institutions typically view gambling enterprises as high-risk. However, the good news is that in this article, Betting Tips Africa will discuss the many payment methods that a sportsbook may accept in Africa and why they are essential.
Description of the most important Payment Methods in Africa
In this section we want to list and explain the most important payment method which are widely used in Africa. Some of them are amongst the biggest companies worldwide, some of them just having local importance targeting the specific needs of african people.
Visa is a widely accepted payment method at African sportsbooks for making initial deposits and cashing out winnings. Visa cards may be used by players with little trouble in virtually every country. The global leader in electronic payment systems, Visa aims to improve people’s lives through its services. Visa is a safe, quick, and simple way to add funds to your favourite African sportsbook.
Verve, founded in 2009 by the Interswitch Group, is now one of the most popular banking options for online Sportsbook gamers in Nigeria, Kenya, and Uganda, among other African countries. Verve is a cutting-edge, forward-thinking, globally recognised brand that caters to the individual interests of its issuers, cardholders, and merchants, by offering them various benefits, including recognition, rewards, safety, and ease of use.
American financial services and payment provider MasterCard was founded in the United States. Sportsbooks accept Mastercard from African players. MasterCard is the best option for funding your Sportsbook account in Africa due to its reliability, speed, and security. Applying for a MasterCard can be done in person at participating banks or online.
Due to its long history and reputation for safety, African sportsbooks trust PayPal to accept deposits and make payouts. PayPal has become one of the most popular e-wallets due to the ease with which it can be linked to a user’s current bank account or credit card. The exceptional attention to security equals the simplicity with which you can connect your existing bank account.
Skrill is a digital currency wallet that allows you to save, transmit, and receive funds in a variety of different currencies. Money can be moved quickly and easily between your Skrill account and your bank account. Its primary advantage is the quickness with which gamers may use Skrill to make and receive Sportsbook deposits and withdrawals in Africa.
When it comes to making deposits and withdrawals at African online Sportsbooks, Neteller is one of the best options available. Online gambling sites can use its many features, such as higher safety and convenience, while making deposits and receiving winnings.
Registered users of the well-known payment service Quickteller enjoy convenient money transfers in Africa without the need for additional fees. Two minutes is all it takes to sign up and start banking. This online money transfer service is widely used in Africa and is convenient for sending and receiving money. With Quickteller, consumers may send money to anyone with an account number or mobile phone number.
EcoPayz is a popular eWallet service that may be used at various Sportsbooks and casinos in Africa. EcoPayz is favoured by many because of its convenience and security; if you’re sick of using outdated eWallets like Skrill and Neteller, it could be the perfect replacement.
The Indian telecom company Bharti Airtel is the owner of the Airtel Money brand. Funding your Sportsbook account in Africa with Airtel Money is as easy as making a transfer or buying a prepaid card. Sending money with Airtel Money is simple, quick, and safe, and it can be used at a large number of different stores. After signing up for an account, users can use their credit or debit card to add funds.
M-Pesa is an acronym that combines the Swahili term for “money” (PESA) and “money” (M). The main goal of this service was to facilitate mobile money transfers between Safaricom subscribers. This might be accomplished by visiting an M-Pesa agent, making a deposit into one’s phone, and then sending the funds to the intended recipient. Sportsbook account funding has been more accessible than ever with the use of M-pesa where it is available.
Through the use of MTN’s network, MoMo strives to live up to the lofty expectations of mobile gamblers. It enables them to use popular Android, iOS, and Windows mobile devices to fund their Sportsbook accounts in Africa. It is also possible to utilise this mode of payment to transfer funds to loved ones. In the past several years, there has been a meteoric rise in the number of MTN Mobile Money users.
People in Ghana can use Tigo Cash, a digital payment service, to deposit money into online gaming accounts. Millicom International Cellular, the company behind the Tigo Cash service, claims to have a customer base of more than 30 million people spanning Africa and South America.
The first country to use Orange Money was Côte d’Ivoire in 2008. Millions of individuals now have access to quick, secure, and dependable financial transactions at their fingertips, all from the convenience of their mobile phones because of this solution for money transfer and mobile payment for populaces with little or no banking. Orange Money can be used to fund Sportsbook accounts in Africa with ease and convenience.
This process is analogous to making a bill payment via the internet. You can get the most out of your time at your preferred African Sportsbook if you can quickly and easily transfer money in and out of your account using the same method you use for your regular banking transactions. Banks use sophisticated methods of encryption to protect your money and personal data. The process is simple, and you can get going in almost no time. A little fee may be required, though.
By establishing a new standard for financial administration, the creators of the Bitcoin protocol hoped to contribute to the decentralisation of monetary management. If you’re looking for a fast, secure, and private way to fund your preferred Sportsbook account in Africa, Bitcoin is one of your best bets. Bitcoin, the first cryptocurrency, paved the way for others to follow.
African Sportsbook gamers can use Litecoin at any site where it is accepted. Litecoin is currently one of the fastest-growing cryptocurrencies in the world.
As its value has increased, Ethereum has grown second to Bitcoin in terms of market capitalisation. Its state-of-the-art technology has allowed it to conduct its business efficiently while preserving the excellent quality it established. Ethereum is acceptable at a few Sportsbooks in Africa.
If you have a prepaid debit card, Neosurf is a trustworthy payment option that gives you absolute freedom when playing online at Sportsbooks in Africa.
Users of PaySafeCard at African Sportsbooks are afforded a degree of anonymity, and their privacy is preserved when they choose this method of payment.
Payment Methods used by different African Countries
While having named and explained the most important payment options in the first paragraph of this article, this section focuses on a detailed examination of the most important payment options of specific african countries with a special focus on their relevance to online betting sites, deposit and withdrawal processes and payment fees.
Payment Methods used in Nigeria
Debit Cards – Visa, Interswitch, Verve or Naira MasterCard
It is imperative that you own a Visa, Interswitch Verve, or Naira MasterCard that is both active and has sufficient funds. Proceed to the Cashier or Banking section of your preferred online Nigerian sportsbook.
Pick “Pay with ATM card” from the list of available payment methods. Following submission of the form, you will be taken by the system to a safe and secured payment gateway screen, where you may enter the amount you wish to deposit into your sportsbook account. A range of 20 – 50 Naira is charged for this payment option in Nigeria.
Direct Bank Deposit – Online Banking
Nigerian banks include but are not limited to UBA, Union Bank, Fidelity Bank, Stanbic IBTC Bank, FCMB, First Bank, Access Bank and Sterling Bank.
Make sure you have all the correct banking information of your chosen online sports betting site on hand. Visit the nearest branch of your preferred Nigerian bank in person or on their dedicated app.
Fill out a deposit slip in the bank or on the app with your desired deposit amount, sportsbook (e.g. “Bet9ja”), sportsbook account number or ID, depositor’s name (your name), and deposit date. Your sportsbook account will be credited in a few minutes. A range of 20 – 50 Naira is charged for this payment option in Nigeria.
Pay At The ATM (Automated Teller Machine)
Get to the nearest ATM, put in your card, and enter your PIN. If your ATM doesn’t offer Quickteller, choose another option from the menu, such as “Fund Other Wallets,” “Fund Wallet,” or “Pay Bills.”
Select “Others” from the list of available stores on the subsequent screen. A merchant ID or code is needed. When you log in with your sportsbook player ID number, your name will appear on the screen. A range of 20 -50 Naira is charged for this payment option in Nigeria.
E-Wallets – PayPal, Skrill, PayCom, Quickteller, etc
Use the registered phone number and password to access the E-Wallet service of your choice. Choose “Send Money” from the menu’s available options.
Pick a sportsbook from the list. Amount to transfer and your individual sportsbook player ID are required fields. Then, double-check your information for accuracy, enter your PIN, and click the button labelled “Send Money.” While some E-Wallets give a limited number of free transfers to Sportsbooks per month, they generally charge a range of 10 – 50 naira per transaction. If you use an E-Wallet that uses a different currency from your local one, you will likely be charged for an exchange process.
1xBet, Nairabet, and Bet9ja are top-notch among betting sites in Nigeria when it comes to offering gamers a plethora of payment methods.
Payment Methods Used In Kenya
Credit And Debit Cards – Visa, MasterCard, American Express, DinersClub
Do you have access to a Visa, MasterCard, or other internationally recognised credit or debit card? In Kenya, you can use your credit card at a wide variety of reputable websites. Using a credit or debit card is a good choice if you want quick, fast, secure, and cheap (almost free) transactions.
Mobile Payments – M-pesa, Airtel Money
In Kenya, gamblers prefer using their mobile phones to deposit money into their online casino or sportsbook accounts. The vast majority of gamblers use either M-Pesa or Airtel Money. These mobile wallets provide instantaneous deposits into online gambling accounts from any location. M-Pesa and Airtel Money are accepted for both deposits and withdrawals. Initiating a deposit can be done with either the USSD or the SIM Tool Kit, so keep that in mind. A range of 6 – 105 KES is charged for funding your preferred Sportsbook.
E-Wallets – PayPal, Skrill, Neteller
Many worldwide bookies who welcome players from Kenya also accept the most common types of electronic wallets. Both domestic and international bookmakers that accept e-wallets attract players because of the convenience and security they provide. PayPal, Skrill, and Neteller are some of Kenya’s online gambling community’s most widely used e-wallet options. Winnings can be withdrawn by winners to an electronic wallet almost immediately. Better more, you can utilise these payment methods to claim a wide range of exclusive offers and prizes. If you are using an E-Wallet that uses a different currency from your local one, you are likely to be charged for an exchange process.
There are a few online casinos in Kenya that accept bank transactions. With this banking option, you can make instant deposits into your Sportsbook account. Most betting sites that offer bank transfers also employ cutting-edge SSL Certificates to safeguard customer data. A range of 10 – 50 KES is charged for funding your preferred Sportsbook.
Cryptocurrency – Bitcoin, Ripple, Litecoin, Snack
Have you ever fancied taking part in games without being identified? If that’s the case, you should look into Kenyan gambling sites that accept cryptocurrencies. Cryptocurrencies such as Bitcoin, Ripple, Litecoin, SNACK tokens, and more are accepted on these sites as wagering options for your favourite games.
Bet365 and Betika are top-notch among betting-sites in Kenya when it comes to offering gamers a plethora of payment methods.
Payment Methods Used In Ghana
Mobile Money Transfer – Airtel Money, MTN Mobile Money
All adults in Ghana can utilise the simple, fast, and convenient mobile money transfer service that is based on text messages sent to and received from mobile phones. Accessing Mobile Money transfer on a casino or betting site is as simple as logging in and going to the Cashier or Banking page, where you can select Airtel or MTN from the list of available payment methods.
Mobile Banking App/E-Wallet – Ecobank
A wide variety of African-friendly online casinos and gambling sites accept Ecobank. This mobile banking software also passes as an E-Wallet available to Ghanaians, enabling quick and simple money transfers. This convenience makes it a favourite for Ghanaian gamblers who use it to send and receive money, pay bills, and top up their Sportsbook accounts in a flash. If you are using an E-Wallet that uses a different currency from your local one, you are likely to be charged for an exchange process.
If you live in Ghana and want to use your personal CAL Bank or Stanbic Bank account to fund your online casino or sportsbook account, you can. Bank transfers are one of the safest payment methods because no external payment processors are required, although they can take up to 72 hours to settle.
To deposit or withdraw from your regular bank account, click the Bank Transfer tab and enter your account and routing numbers. You can make a successful transfer by selecting your bank from the options offered (CAL Bank or Stanbic Bank) and then click “continue.”
A range of 3 – 5 GHÇ is charged for funding your preferred Sportsbook in Ghana.
Voucher – SpeedPay
Previously known as SpeedBanking, Capital Bank’s SpeedPay electronic money voucher system is viral in Ghana. It enables quick and straightforward account funding via mobile devices. Therefore, it is not unexpected that many Ghanaian online gambling enthusiasts are using this service to fund their accounts, as it requires very little work.
Betway, Mozzartbet and Msport are top-notch among bettingsites in Ghana when it comes to offering gamers a plethora of payment methods.
Payment Methods Used In South Africa
Credit/Debit Cards – Visa, MasterCard, American Express, Diners Club
Due to their widespread availability and the ease with which they may be used, credit and debit cards have quickly become the preferred method of payment for South African gamblers.
Sportsbooks accept credit card deposits through their banking section. Select Visa or MasterCard, input your name as it appears on the card, the 16-digit card number, the expiration date, the 3-digit CVV number displayed on the signature strip, and the amount you wish to deposit.
Your online Sportsbook account should update promptly as long as sufficient cash is on the card. An authorisation for a credit card withdrawal may take up to three business days to process.
Bank Transfer – EasyEFT, EFTs, SID Instant EFT
EasyEFT is one of the available banking methods, and it may be used to make deposits and withdrawals with only a few clicks and the following of on-screen instructions. You can deposit or withdraw to your regular online banking profile with any South African bank you choose (Nedbank, FNB, ABSA, Capitec, Investec, or Standard Bank) once you’ve selected.
Internet bank transfers (EFTs) are the most common method of payment for South African online sportsbooks. Any of the major South African banks (ABSA, Nedbank, Investec FNB, Standard Bank, and Capitec) allow their customers to add the casino or Sportsbook as a beneficiary in their online banking apps, making it easy to deposit funds. The clearing of deposits and withdrawals via this method may take up to 48 hours.
Many gamblers in South Africa use SID Instant EFT, an online payment mechanism explicitly designed for South Africans, to make deposits and withdrawals. By eliminating the need to use a credit card, this electronic funds transfer method allows you to make instantaneous deposits and withdrawals between your regular bank account and your favourite online Sportsbook account.
While some banks allow free Sportsbook account funding, the majority charge a fee ranging from R7 to R30 in South Africa.
Virtual Credit Card – Entropay
Visa’s Entropay is a virtual credit card that may be used in the same ways as a standard debit card but is only usable online and not in actual stores. You can get a virtual card with your name, a 16-digit number, an expiration date, and a CVV security code when you sign up for an Entropay card.
E-Wallets – Skrill, Neteller, EcoPayz
It’s easy and straightforward to register an account with Skrill, Neteller, or EcoPayz, so you may use them to make deposits and withdrawals at online casinos. After that, you’ll need to fund your account with a debit or credit card. Once you have sufficient funds, you can make a deposit at your preferred Sportsbook account and have your money available for use right now.
Suppose you want to make a deposit into your Sportsbook account using your electronic wallet. In that case, you can select the appropriate option from the available payment methods list and enter the desired deposit amount. You will then be redirected to your online account, where you will be prompted to enter your email address and password.
If you are using an E-Wallet that uses a different currency from your local one, you are likely to be charged for an exchange process.
Hollywoodbets and Supabets are top-notch amon south african betting sites when it comes to offering gamers a plethora of payment methods.
There are also several special payment options (otherwise known as payment gateways) that offer quick, cheap and overall excellent services in Africa. They can also be used to fund your account at any of your preferred Sportsbooks in the continent. Some of them are listed below:
VoguePay, a payment gateway located in Nigeria, has global coverage, allowing customers and merchants to send and receive payments in any of the world’s major currencies with complete peace of mind. You can make purchases with your VoguePay balance; however, there is a one per cent transaction fee for every transfer.
Accepting safe online payments is made easier with the help of Paystack, a commonly used payment gateway in Africa. Companies that are set up in Africa can now receive payments from clients all over the world thanks to the payment gateway. It paves the way for businesses to take customer payments via debit and credit cards via the Internet. It’s a safe and simple way to accept payments from various sources.
Flutterwave streamlines the procedure of making and receiving payments for businesses and banks throughout Africa. Customers can use their local currency to make purchases, as Rave is a product of Flutterwave, which enables merchants to take debit and credit card payments from customers in 154+ countries. All major credit cards and Verve are accepted here.
Other Betting Site Categories:
Are Betting Sites that accept low deposits safe and trustworthy?
The possible deposit amounts do not say anything about the trustworthiness of a Betting Site.
Which Betting Site is the best for low deposit betting?
There is no one-size-fits-all answer to this.
Our Betting Site Review can help you to make a decision.
Which Payment Methods do Betting Sites offer?
Have a look at our Betting Site Review to find out.