This guide will take you through the available payment options that you can expect to find at online casinos operating in Nigeria. Also, we will explore the deposit and withdrawal processing times along with the security measures put in place for your protection against online
Debit and Credit Cards
Debit and credit cards are very similar to each other. However, debit cards allow holders to draw upon funds that they have built up in a bank account. Whereas credit cards enable the holder to borrow/lend money from the card issuer thereby creating a debt. For this reason, credit cards are no longer accepted in the UK by casinos and other gambling institutes.
Credit cards tend to offer better consumer protection compared to debit cards though they do attract more fees from the issuer. Both are very popular payment options at casinos operating in Nigeria due to instant deposits and a 3 day withdrawal times.
Prepaid cards are a common payment method found in Nigeria. The holder of the card credits or loads his card with funds he already holds either from a bank transfer or in some cases cash. It is impossible to spend more than what is on the card, unlike a bank debit card with an overdraft. So, it is a safer option for those who tend to over commit. Processing times are 1-3 days but some casinos will not allow them as a withdrawal method.
E-wallets or digital wallets are an online service that allows electronic transitions between parties such as from the gambler to the casino and vice versa. They are very flexible with many of them having apps. Furthermore, you can fund your e-Wallet by standard means like bank transfers or even credit cards.
Once you register with an e-wallet your details stay with them. Thus, you will not need to enter further details when depositing, less those of the e-wallet itself. Processing times can vary but many deposits are instant and withdrawals take 1 to 3 days. A downside is that many casinos do not accept certain e-wallet deposits for promotions and bonuses.
Wire, bank or credit transfers are an electronic transaction of funds, generally, between one bank to another – the casino’s bank. It can also be done through paying cash at an office which is then transferred to an account of the payees choosing. The cash option is very popular in Nigeria as there is no need for a bank account and there are no hidden fees or charges. However, casinos may not accept all companies that deal with these types of transfers. So, it is worth checking before you gamble. Processing times can take 1-3 days depending on the banks involved.
Mobile Payment Solutions
Mobile payment solutions are the latest methods available. They are app-based and use NFC technology. The service is easy to set up by you, using bank or credit card information. The technology also allows the user to pay by being in close proximity with his phone to a payment machine. Regarding online transfers, authorization is done by facial recognition or fingerprint ID. Furthermore, transactions are very similar to e-wallets. Processing times tend to be 1-3 days for withdrawals and some deposits are instant.
Mobile-payment services include:
- Apple Pay
- Google Pay
There also is a Pay by Phone method for bettors to credit their casino accounts by having their phone bill debited the said amount. However, this is not an option currently open with Nigerian online casinos. Mobile payment solutions are currently limited in Nigeria but we predict them to become more popular both with punters and casinos.
Cryptocurrencies or digital currency is gaining in popularity with online casinos and punters alike. Through a decentralized technology, users can make secure payments and store money, all without divulging their name or using a bank. Cryptocurrencies run on a distributed public ledger called a blockchain. It has a record of all transactions and held by the currency holders. Cryptocurrencies are a very secure payment method with fast processing times.
Three popular cryptocurrencies available as payment methods are:
Payment Methods For Online Casinos Operating In Nigeria – Variety and Security
We can confirm that there is a wide variety of secure payment methods available to gamblers in Nigeria. So, it is down to personal preference as to what to use. This may boil down to convenience as not all the options are easily attainable for Nigerian citizens. However, the situation is rapidly changing for the better. No matter if you wish to use cryptocurrencies or Opay from your phone there is a casino that will accept your preferred method of payment.
- Great Bonuses and Promotions
- Quick Payment Methods
- Optimized For Mobile
Online Casino Payment Methods For Nigeria FAQ
Below we have compiled a few of the most frequently asked questions when it comes to payment methods accepted by online casinos in Nigeria.