Online Betting Guide Nigeria

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The number of online bookmakers catering for the needs of betting customers in Nigeria has increased significantly over recent years, with new sites being developed on a regular basis, meaning that punters now have a host of options when it comes to staking on their favourite sports teams and players.

This betting guide will walk punters through exactly how online betting works, including available markets, payment types and promotions. However, we will kick things off by outlining just how betting in Nigeria works from a legal standpoint.

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Is Online Betting Legal in Nigeria?

The legal situation surrounding betting in Nigeria is still a little difficult to process, however in simple terms, local bookmakers must hold a gambling license from either the Lagos State Lotteries Board or National Lottery Regulatory Commission. Such authorities strictly test any potential betting site, ensuring that they are nothing but 100% trustworthy, safe and reliable. Meanwhile, players in Nigeria can also take advantage of the markets and features found on betting sites licensed by authorities in other regions, whether it be the Malta Gaming Authority or Government of Curacao.

Legal Online Betting in Nigeria

Betting in Nigeria comes under the jurisdiction of the National Lottery Act of 2005 and the Lagos State Lottery Law of 2004, who control the industry as a whole, including the security of punters. The National Lottery Regulatory Commission promotes transparency at all times, as well as protecting all those involved, including the general public. Based in Abuja, the commission delivers sports betting and lottery licenses, both online and offline.

In order to claim such a license, organisations must have a minimum share capital of at least 30,000,000 Naira, a security system and payment of a 2,000,000 Naira non-refundable application and processing fee. As far as the Lagos State Lottery Board is concerned, which was amended in 2008 following major developments in the gaming industry, this body is well-known to be the commercial epicenter of the Nigerian betting scene.

Betting Online vs Betting Shops

Before the internet, the only way for punters in Nigeria to place bets was in high street shops, whether it be NairaLand or Bet9ja. However, the rise of the internet has made it easier and more convenient than ever before to place bets, with a large number of bookmaker sites not catering for the needs of such individuals. Today, punters can find all available markets, bet types and odds on one easy to use platform, with the popularity of such betting sites meaning that it comes as little surprise that more and more bookies are looking to get in on the act.

Why Mobile Betting is No.1 in Nigeria

With estimates showing that around 75% of bets placed in Nigeria are done so using mobile devices, it is hugely important to select an online bookmaker which performs well in this area. Whether a bookie offers a dedicated mobile betting app or delivers markets through an efficient mobile website, bets should be available to place whenever players are away from their desktop. Data coverage in Nigeria is poor in comparison to some other countries, which makes it even more important that bookmakers work hard to make their mobile platforms as quick and easy to use as possible. The likes of Bet9ja, 1XBet, 22Bet and Betway have all received praise from players in Nigeria as a result of their mobile betting offerings, however there are a host of other platforms available too.

What are the Favourite Sports to Bet on in Nigeria?

Sport is hugely popular across Nigeria, with residents following events from around the world, as well as close to home. However, when it comes to betting, there are undoubtedly a small number of sports which receive the greatest amount of interest from punters in Nigeria, including football, cricket, basketball and rugby. Let’s take a closer look at these popular Nigerian sports betting markets:

Football

Whether it be a bet on the Super Eagles at the African Cup of Nations, backing Plateau Utd in the NPFL or staking on one of the biggest teams in the Champions League, football is undoubtedly the most popular sports betting market today. Because of this, any betting site looking to target Nigerian customers must cover leagues and competitions from around the world, as well as offering both pre match and in-play markets. The English Premier League is particularly popular in Nigeria, with punters regularly placing bets on teams including Manchester United, Arsenal and Chelsea.

Cricket

Nigeria may not be one of the nations in which sports fans think of when it comes to cricket, however Test, One Day and T20 matches from around the world are still bet upon on a daily basis by Nigerian customers. Possible markets could include a Test match between Kenya and Nigeria, an encounter from the hugely entertaining Indian Premier League or a Mzansi Super League tie, cricket is a major market for many online bookies available today.

Basketball

The Nigerian Premier League is one of many basketball events that are regularly bet upon by punters in Nigeria, with the NBA in the US also attracting major interest. Basketball has long been a popular sport in Nigeria, with domestic betting sites such as SureBet247, Bet9ja and LionsBet catering for their needs as a result.

Rugby

Many are predicting that Nigeria have a bright future when it comes to rugby, with the sport also growing in popularity on betting sites. Domestic matches from England, France, Australia, New Zealand and South Africa can be bet upon weekly throughout the season, while high profile international matches involving the same nations also see significant amounts being staked by players in Nigeria.

What are the Most Popular Markets/Bet Types in Nigeria?

Punters operating in Nigeria today can look forward to taking advantage of a wide range of sports markets and bet types, with bookmakers having recognised the diverse demands of such customers. Almost half of all online bets placed by Nigerian punters are live, with customers hoping to win big on events that are already underway in many cases. With that being said, below are some of the most popular bet types in which players in Nigeria are likely to come across at online bookmaker sites:

1×2 – Here, players are simply betting on which team or player will come out on top in an upcoming or ongoing sporting event. For example, backing Manchester City to beat Liverpool in the Premier League, with available options having included a home win, away win or draw.

Total – Total markets are common in a number of sports, including the numer of goals in a football match, points in a basketball game or runs in cricket, offering an alternative to just betting on the final result of a tie.

Over/Under – Similarly, many online betting sites also allow their customers to bet on there being either over or under a selected amount of outcomes, including over 2.5 goals in a football match, under 350 runs in a cricket match or over 20 games in an encounter from Wimbledon tennis.

Handicap – In the event of there being a standout favourite surrounding an upcoming sporting event, many punters may well turn to handicap markets. Here, teams or players are given a handicap based on their pre-match standing. For example, punters can bet on Chelsea beating Arsenal at +2.

Outright – Players looking for greater odds may wish to check out the outright markets found at betting sites, which include which team will win the next football World Cup, who will next be crowned NBA champions and which nation will top of Olympic Games medals table.

Accumulator – Another method of increasing the odds on offer is to add multiple selections to your bet slip, which is often referred to as an accumulator. Whether it be betting on 4+ football teams to win over the weekend or five tennis players to win their first round matches at an upcoming tournament, the rewards for successful punters here are often significant.

Why Odds are Important When Betting Online

Betting online should be about enjoyment and entertainment, however punters will also ultimately be looking to add to their bank balance at the same time. As a result, the odds in which an online bookmaker offers will effect just how much you win when placing successful bets, with betting sites performing differently in this area. Be sure to check out our betting site reviews to see just which platforms offer the best prices, which are likely to be available in decimal, fractional or an American format. Players are regularly on the lookout for value bets, which is when they believe a market has been priced incorrectly by the bookmaker, offering hightened odds in the process.

Bonus Offers & Promotions Available to Players in Nigeria

Another reason as to why so many bets are placed online nowadays is the fact that bookmakers make bonuses and promotions available to their customers on a regular basis. Whether it be for signing up online or depositing a certain amount of cash, punters can look forward to receiving any number of offers, with some of the most common and popular coming in the shape of the following:

Welcome Bonus – In an attempt to attract new players, online bookmakers will regularly offer an incentive to potential customers, which regularly comes in the shape of a welcome bonus. A qualifying deposit, along with a potential promo code, must be made, with a bonus up to a certain amount being received in the process, providing a good platform to build upon.

Free Bet – Available to both new and existing players, free bets are offered to punters who meet the qualifying conditions and sometimes even as a reward for their loyalty. Free bets are generally smaller amounts, howeve they are always well received.

Price Boost – In the build up to major sporting events, betting sites will regularly offer price boosts in an attempt to attract further interest, whether it be increased odds on a football match between Arsenal and Tottenham Hotspur, where the price for both teams to win has been boosted.

Accumulator Insurance – With accumulator bets being so popular online today, some bookies will also offer a form of insurance policy for players staking in this way. As a result, in the event of your acca bet losing because of just one pick, you will receive your stake back, up to a certain amount.

Payment Methods & Limits in Nigeria

Players in Nigeria have a good number of options when it comes to making payments on betting sites, with an increasing number of online bookmakers accepting deposits and withdrawals in Naira. Popular methods of payment include Visa, Mastercard, AstroPay, Bank Wire, Skrill, Neteller and Paysafecard, while a small number of platforms allow players to make deposits using their mobile phone, with funds being added to your monthy fee. Meanwhile, deposits are likely to start anywhere between 4,000 NGN to 10,000 NGN, which should cater for the needs of most players.

How to Register to Bet Online: A Step By Step Guide

Online betting is also hugely popular because of just how easy it is to register with bookmakers today, with the following generally being the steps required in order to gain access:

  1. Enter the betting site you wish to register on.
  2. Click on Register or Sign Up.
  3. Enter your personal details, including full name, email address and date of birth.
  4. Opt in or enter any potential promo code to receive available bonuses.
  5. Create a username and password.
  6. Verify your new account via email.
  7. Deposit for the first time using an available payment method.
  8. Start betting on your favourite sports teams and players!

5 Tips When Betting Online

In order to give players the best possible chance of being successful on betting sites, we have put together the following tips:

  1. Be sure to develop some form of betting strategy, whether it be concerning the markets in which you operate on or the amount of cash in which you wager with.
  2. Stick to what you know! If you are an expert when it comes to football, place bets here, rather than staking on a cricket or basketball match because of seemingly appealing odds.
  3. Do your research before placing bets. There is nothing worse than seeing a bet lose because of a piece of information you were not aware of, whether it be an injury to a key player or that a game is being played at a neutral venue.
  4. Set yourself limits, with online bookmakers today making it easy for players to set themselves a maximum spend on a daily, weekly or monthly basis.
  5. Remember that betting online should be fun! Do not place bet after bet in an attempt to recover lost funds.

Online Betting Nigeria FAQ

The following are answers to some of the key questions when it comes to online betting in Nigeria:

Q. Is betting online legal in Nigeria?
A. Yes. Bets made online must be placed on a betting site which holds a valid gambling license, which make them secure and trustworthy.

Q. Can I place bets in Nigerian Naira?
A. Some online bookies accept payments in Naira, however for those that do not, money can be converted into a different currency, whether it be dollars, Euros or British Pounds.

Q. Do I have to pay taxes on money made on betting sites?
A. While taxes must be paid on winnings made, such calculations have already been carried out, so players do not have to worry about declaring such finances.

Betting Guide Nigeria Bottom Line

Betting in Nigeria is growing by the day, with the number of online bookmakers available to players having also increased significantly. Betting customers should now have a much clearer understanding of just how betting online in Nigeria works, including available markets, payment methods and bookmakers.