The Best Betting Operators and Their Payment Methods

The Best Betting Operators and Their Payment Methods

Betting on sports is a great source of entertainment. Win or lose, having a few bucks riding on an outcome adds a lot of excitement. With so many reputable online bookmakers to choose from, wagering on sports is as convenient and easy as ever. However, things would be very different if payment processors didn’t exist.

Thankfully, there is a plethora of payment options available to punters.

Online sportsbooks make a point of offering multiple payment methods. This allows people from all walks of life to participate in sports betting. Punters in Nigeria have some excellent bookmakers to choose from and these bookies give them loads of payment options.

List of the Best Betting Online Operators in Nigeria

Expert Rating
Highlights
Welcome Offer
20K
50% up to ₦20.000 Welcome Bonus
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  • International Sportsbook
  • Competitive odds
  • Excellent in-play markets
20K
50% up to ₦20.000 Welcome Bonus
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  • International Sportsbook
  • Competitive odds
  • Excellent in-play markets
Betway Review

22Bet Review
98/100
50K
100% up to ₦50.000 Welcome Bonus
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  • Accepts Naira as a form of currency
  • Very High odds
  • Excellent in-play and streaming
50K
100% up to ₦50.000 Welcome Bonus
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  • Accepts Naira as a form of currency
  • Very High odds
  • Excellent in-play and streaming
22Bet Review

100K
100% up to ₦100.000 Welcome Bonus
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  • Great Variety of Markets
  • Highly Competitive Odds
  • App available
100K
100% up to ₦100.000 Welcome Bonus
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  • Great Variety of Markets
  • Highly Competitive Odds
  • App available
NetBet Review

100K
100% up to ₦100,000 Welcome Bonus
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  • Good selection of betting markets
  • Competitive odds
  • The site is mobile compatible
100K
100% up to ₦100,000 Welcome Bonus
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  • Good selection of betting markets
  • Competitive odds
  • The site is mobile compatible
BetBonanza Review

100K ₦
100% up to 100K ₦ Welcome Bonus
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  • Huge number of available matches
  • Customer-oriented philosophy
  • A large number of bonuses
100K ₦
100% up to 100K ₦ Welcome Bonus
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  • Huge number of available matches
  • Customer-oriented philosophy
  • A large number of bonuses
MELbet Review

100K
100% up to ₦100.000 Welcome Bonus
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  • Good range of sports
  • 24/7 customer service
  • Free of charge deposits/withdrawals
100K
100% up to ₦100.000 Welcome Bonus
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  • Good range of sports
  • 24/7 customer service
  • Free of charge deposits/withdrawals
Lionsbet Review

1XBET Review
95/100
100€
100% up to 100€ Welcome Bonus
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  • Virtual markets
  • No charge for deposits/ withdrawals
  • 24/7 customer service
100€
100% up to 100€ Welcome Bonus
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  • Virtual markets
  • No charge for deposits/ withdrawals
  • 24/7 customer service
1XBET Review

£100
100% up to £100 in bet credits
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  • Huge number of football markets
  • Generous welcome bonus
  • Live streaming opportunities
£100
100% up to £100 in bet credits
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  • Huge number of football markets
  • Generous welcome bonus
  • Live streaming opportunities
Bet365 Review

100K
100% up to ₦100.000 Welcome Bonus
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  • Nigeria’s most famous bookmakers
  • Good selection in sports betting
  • Local customer support
100K
100% up to ₦100.000 Welcome Bonus
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  • Nigeria’s most famous bookmakers
  • Good selection in sports betting
  • Local customer support
bet9ja Review

  • Well-established bookmaker
  • 24/7 support
  • Wide range of sports markets
50k
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  • Well-established bookmaker
  • 24/7 support
  • Wide range of sports markets
NairaBet Review

 

Bet9ja Payment Methodsbet9ja_logo_side

  • Visa
  • Mastercard
  • UBA Bank
  • Paycom
  • GT Bank
  • Interswitch
  • FCMB
  • Verve
  • Wema Bank

What is Visa?

Visa is one of the most recognized credit cards on the planet. It is also one of the most widely accepted and commonly used payment methods at online betting sites. Visa card deposits are instant and usually qualify for welcome bonuses and other promotions. Once you choose “Visa” as a payment option, you simply enter the amount you wish to deposit and then provide your credit card information.

Conveniently, you need only provide your credit card information once. It is then safely stored on secure servers for your continued use. Unlike many other credit cards, Visa cards may be used to process withdrawals. Bet9ja doesn’t charge fees for making Visa deposits, but credit card users may be charged a cash advance fee. These fees do not apply to Visa debit cards. Visa users must provide a signed copy of the front and back of the card.

Those with concerns about sharing their Visa card information should know that Bet9ja keeps your information private. The most modern SSL encryption protects all transactions keeping your private details safe. Physical, procedural, and state-of-the-art electronic safeguards ensure that any stored information remains private.

What is Mastercard?

Like Visa, Mastercard is one of the most popular and universally accepted credit cards in Nigeria and around the world. Nigerians may use their Mastercard credit or debit cards to make instant deposits at Bet9ja. Mastercard deposits qualify for bonuses and promotions. Go to the banking section and select the “Deposit” option. When prompted, choose Mastercard as your payment method and follow the instructions. You will need to provide your Mastercard information along with the deposit amount.

Once the transaction is complete, Bet9ja stores your information on their secure servers. This streamlines the process in the event of further Mastercard deposits. As with most other credit cards, Mastercard users must provide Bet9ja with a signed copy of the front and back of their Mastercard.

Additionally, Bet9ja does not charge fees for Mastercard deposits. However, those who use their Mastercard credit card for deposits at sports betting sites could face a cash advance fee. One drawback to using Mastercard is its inability to facilitate withdrawals. Users must find an alternative withdrawal method if they deposit using Mastercard. Only Nigerian Mastercard debit cards are accepted at Bet9ja.

What is UBA?

UBA is an acronym for the United Bank for Africa which is one of Africa’s biggest banks. Headquartered in Lagos, Nigeria, UBA has operated in Africa since 1949 and boasts over 14 million customers throughout 20 African nations. Nigerians, or anyone else with a UBA account can make instant deposits and quick withdrawals at Bet9ja.

UBA payments are accepted at many Nigerian bookmakers, and they are among the most reliable. Best of all, Bet9a charges no fees for deposits or withdrawals when you use UBA Instant Bills Pay. Users must deposit a minimum of ₦100. The maximum amount depends on the type of UBA account. Go to the banking section and hit the “Deposit” icon.

uba Payment Methods

www.ubagroup.com

Select UBA, enter the deposit amount, your UBA account information, and confirm the transaction. The funds are immediately made available to your bookmaker account. UBA deposits qualify for the welcome bonus.

UBA makes use of the latest 128-bit encryption technology to protect all transactions. Their internal systems and networks are protected by layers of security features such as access control and firewalls. Furthermore, UBA maintains a Verisign Global Digital Certificate and a strict privacy policy that keeps your delicate information safe.

What is PayCom

A moblie-based payment platform that has a PiDO wallet, OPay. It allows users to send and receive money, pay bills, and even order food. It is an eWallet and transfers are facilitated by PayCom. Because over 60% of Africans do not have bank accounts, OPay is a great solution for depositing at Nigerian bookmakers. With offices around the world including Lagos, OPay is able to provide their services to millions of people. This includes those who enjoy wagering at sports betting sites and claiming welcome bonuses.

OPay is primarily an app-based mobile payment method. Nevertheless, desktop users may also use it to move money in and out of their online betting sites. Users need only download the app to their iOS or Android device, open a new OPay account, and then fund it. Your phone number becomes your bank account, and it allows you to transfer money to and from any bank account in Nigeria. You may fund your OPay account, OPay Visa, or OPay Mastercard using the following:

  • Visa
  • Mastercard
  • GT Bank
  • Access
  • Unity
  • Fidelity
  • Zenith
  • UBA
  • Sterling

What is GT Bank?

Headquartered in Lagos, Nigeria, Guaranteed Trust Bank is among the most trust Nigerian financial institutions. GT Bank has over 250 locations and nearly 1,200 ATM scattered throughout the country. On top of that, the bank has expanded into several other African countries and even the United Kingdom. GT Bank was named the best bank in Africa at 2019’s Euromoney Awards for Excellence.

Those who have an account at GT Bank can make instant deposits and fast withdrawals at Bet9ja. Needless to say, all transactions are encrypted to ensure maximum security. Several layers of physical, electronic, and procedural security protect all stored information.

To make a deposit, simply select GT Bank as your payment method, enter the deposit amount, and confirm the deposit. The deposit must be between ₦100 and ₦9,999,999. GT Bank deposits qualify for bonuses at most sports betting sites.

What is Interswitch?

Interswitch is a digital payment company that gives people the freedom to circulate money electronically. The company, which has been around since 2002, has grown by providing a reliable and cost effective platform. Interswitch is widely accepted at African online betting sites. The company also happens to own Verve, Quickteller, Retailpay, and Smartgov.

payment nigeria interswitch

www.interswitchgroup.com

Bet9ja does not charge fees on Interswitch instant deposits and users qualify for bonuses. It is a reliable and secure payment option that is accessible 24 hours a day, seven days a week. As an added incentive, users earn loyalty rewards whenever they conduct a transaction.

What is FCMB?

First City Monumental Bank is one of Nigeria’s largest financial services and internet banking providers. As such, FCMB is accepted at many of Africa’s best bookmakers including Bet9ja. Members can choose from a variety of accounts and credit cards that can be used to make instant deposits. Deposits can be as low as ₦100 and as high as ₦9,999,999. Bet9ja does not charge fees on them.

Withdrawals may range between ₦5,000 and ₦9,999,999 and they are usually completed within 24 hours. Those who deposit using this method qualify for welcome bonuses. Opening an account is fast and easy, and all transactions are protected by the most modern encryption technology. Aside from internet banking deposits, FCMB also has an FCMB Visa credit card.

What is Verve?

Owned by Interswitch, Verve is a Nigerian payment card that is accepted at many African sports betting sites. It is also accepted at thousands of online merchants in over 185 countries. The card uses an EMV chip and PIN platform, making it among the most secure payment methods around. Verve cards are issued as debit and prepaid cards that can be topped up in a variety of ways.

Using a Verve card to make a deposit at sports betting sites is the same as credit card deposits. However, because Verve is not a credit card and can only access available funds, cash advance fees don’t apply. Users don’t need to worry about interest charges either. On top of qualifying for bonuses at sportsbooks, Verve users also qualify for rewards whenever they use it.

What is Wema Bank?

Wema Bank offers Nigerians a range of banking and internet banking solutions. Headquartered in Lagos, Wema Bank has served Nigeria since 1945, making it the country’s longest lasting bank. Along with being able to perform mobile banking, customers may also apply for Wema Visa cards and prepaid Mastercards. The app is available right at the site.

You can make a deposit at Bert9ja using a Wema Bank Visa or Mastercard. Alternatively, you can select Wema Bank as your payment option to make a deposit at Bet9ja. In either case, minimum deposits of ₦100 are processed instantly and available to bet with right away. Don’t forget to claim any bonuses you may qualify for.

 

Lionsbet Payment Methodslionsbet_logo_side

  • Paystack Card and Bank Deposit
  • WebPAY Nigeria
  • Interswitch
  • Mastercard
  • Visa
  • Paydirect
  • Verve
  • Quickteller Deposit
  • Quickteller ATM
  • Scratch Card Deposit

What is Paystack?

Paystack gives users the ability to make quick payments to thousands of merchants. Of course, that includes some of the best online betting sites in Nigeria. Paystack is essentially a payment processor that facilitates payments using:

  • Card
  • GTB 737
  • Bank Account
  • Visa QR
  • Mobile Money

The two most popular means of using Paystack are Pay with Card and Pay with Bank. With the Pay with Card method, you need only provide your card details and confirm the transaction using 2-factor authentication. With the Pay with Bank option, you must provide your banking details. A fee of 1.5% is applied to transactions under ₦2,500. Anything over that amount incurs an additional ₦100 charge.

What is WebPAY Nigeria?

WebPAY is an online payment solution that is powered by Interswitch. Users can avail themselves of the service using bank-issued cards or payment tokens. The process of making payments using WebPAY is straightforward.

On the payment page, select your card type, provide the card details, enter your PIN, and click on the “Pay” button. Once complete, your Lionsbet deposit is immediately credited to your account and you’re ready to roll. At Lionsbet, you may deposit as little as ₦50 or as much as ₦1,000,000.

What is Interswitch?

This digital payment platform is one of Nigeria’s most popular secure online payment methods. Interswitch offers several payment platforms for eCommerce including Webpaydirect, WebPAY, Verve, and Quickteller. Using these platforms, Nigerian online sports betting enthusiasts can make secure instant deposits at Lionsbet.

All they need to do is go to the banking section and click on the “Deposit” link. Then, choose the cards they want to use, enter the deposit amount, and confirm the transaction. Funds are instantly credited to the betting account and ready to use. Interswitch deposits qualify for Lionsbet’s welcome bonuses and other promotions.

What is Mastercard?

Mastercard is one of the most recognizable and trusted credit cards in the world. Mastercard is accepted at the best Nigerian sportsbooks and Mastercard deposits at Lionsbet qualify for the generous welcome bonus. Usually distributed by financial institutions, Mastercard credit cards offer three levels of membership. Many banks also issue Mastercard debit cards.

payment methods mastercard nigeria

Sharaf Maksumov / Shutterstock.com

There is one main difference between credit cards and debit cards. Credit cards may be used to make sportsbook deposits without actually having the funds in your bank account. It’s like a loan. Conversely, a debit card user must have enough cash in their account to cover the deposit amount. Lionsbet does not charge fees for making Mastercard credit card or debit card deposits. However, some credit card providers treat credit card deposits at online betting sites as cash advances and charge fees.

What is Visa?

Visa is among the most widely used and accepted credit card brands on the planet. Almost every international online sports betting site accepts Visa, and that includes bookmakers in Nigeria. There are main types of Visa cards:

  • Credit card
  • Debit card
  • Prepaid card

Debit card users must have enough money in their bank accounts to cover the amount of their deposit. Likewise, a prepaid card’s balance must be enough to cover the deposit amount. Those who use Visa credit cards are essentially given a loan to make their deposits and purchases.

In each case, Lionsbet does not charge fees for Visa deposits, but card issuers normally applies a nominal transaction fee. Unlike Visa prepaid and debit card deposits, Visa credit card deposits are often considered as cash advances. As such, Visa credit card deposits are often subject to a cash advance fee.

What is PayDirect?

PayDirect is a payment method that allows you to fund your Lionsbet account from your local bank. The first step is going to one of the following banks:

Access BankCitibank Nigeria
Diamond Bank
Ecobank Nigeria
Enterprise Bank
Fidelity Bank
First Bank of Nigeria
First City Monument Bank
First Inland Bank
Guaranty Trust Bank
Heritage Banking Company Ltd
Key Stone Bank
MainStreet Bank
Skye Bank
Stanbic IBTC Bank
Standard Chartered Bank
Sterling Bank
Union Bank of Nigeria
United Bank For Africa
Unity Bank
Wema Bank
Zenith Bank

Next, fill out a deposit slip and enter Lionsbet as the beneficiary account. Use your Lionsbet customer ID as the depositor’s name and then enter the amount you wish to deposit. Give the filled out slip to the teller and say you are making a PayDirect payment. The payment will be processed and your funds made available to your Lionsbet account. Remember to get a copy of the deposit slip.

What is Verve?

Verve is a convenient payment platform that is accepted at many Nigerian bookmakers including Lionsbet. Like most modern payment cards, Verve cards EMV chips and PINs making them a very safe and secure payment method. Verve cards come in the form of debit cards that are directly linked to the user’s account. They are also purchased in the form of prepaid cards that can be topped up.

Unlike credit cards, Verve cards limit users to funds on hand. A Verve deposit will be declined if the deposit amount exceeds the user’s available funds. This prevents any overdraft or similar charges. Another benefit to using Verve is the rewards that users earn when they use their Verve cards.

What is Quickteller Deposit?

Quickteller payment methods nigeriaQuickteller gives Nigerians the freedom to make deposits and withdrawals using their mobile devices. After downloading the app for either iOS or Android, you can then pay for a variety of goods and services. Of course, you will need a prepaid card, debit card or credit card to use it.

To make a Quickteller deposit at Lionsbet, open the Quickteller app and select “Quickteller” or “Pay Bills”. You can then find Lionsbet from the menu and enter their customer ID. Follow the instructions and your Lionsbet account will be instantly funded. Don’t forget about claiming your bonus.

Quickteller ATM?

Quickteller ATM is a convenient payment platform owned by Interswitch. Quickteller ATM enables users to purchase a wide range of goods and services over the internet or at retail outlets. Of course, Quickteller ATM is also an accepted method of payment at Lionsbet. The great thing about Quickteller ATM is you can use it to fund your Lionsbet account at a participating ATMs. Simply insert your Quickteller ATM card, select “Quickteller” or “Pay Bills”, and then enter a code. The code determines the amount of your deposit.

Code Deposit Amount
04260202 ₦500
04260203 ₦1,000
04260204 ₦2,000
04260205 ₦3,000
04260206 ₦4,000
04260207 ₦5,000
04260201 Other Amounts

After selecting the appropriate code, you are prompted to enter your Lionsbet customer ID and possibly your phone number. The transaction is confirmed and funds are instantly credited to your betting account.

What is Scratch Card Deposit?

In a nutshell, the scratch card payment system is a prepaid card that you can use to make sportsbook deposits. The cards are purchased at retail outlets and they come in different denominations. Each card features a batch number, expiry date, pay code, PIN, and serial number. Both the PIN and pay code are sealed and must be scratched off.

To make a deposit, scratch off the covered areas. Go to Lionsbet’s banking section and select “Prepaid” from the deposit menu. Enter the 16-digit password and the amount to deposit. Your betting account is credited as soon as you complete and confirm the deposit.

 

NetBet Payment Methods

  • Mastercard
  • Visa
  • Neteller
  • Interswitch
  • Zenith Bank

What is Mastercard?

Mastercard is one of the most widely accepted and convenient payment methods at online sports betting sites. Mastercard provides credit cards and debit cards which are typically issued by banks. They also offer a line of prepaid cards.

Prepaid cards are sold in various denominations that can be used all at once or in increments. Mastercard debit cards are directly linked to a bank account. Purchases and bookmaker deposits cannot exceed the amount in a user’s bank account.

NetBet does not charge fees for making Mastercard deposits. However, most Mastercard products charge small fees for each transaction. Most Mastercard credit card issuers deem sportsbook deposits as cash advances and charge a special “Cash Advance” fee. Nevertheless, NetBet’s welcome bonus easily offsets any transaction or cash advance fees.

What is Visa?

Visa is easily among the most respected and trusted payment systems. There are several types of Visa credit cards with each having various perks and credit limits attached to them. Visa debit cards are used to make payments directly from the user’s bank account. Visa credit and debit cards are normally issued by banks. Visa also has prepaid cards that can be purchased at retail outlets. These cards come in a wide range of denominations.

Visa sportsbook deposits are conducted in the same manner and they qualify for NetBet’s welcome bonus and other promotions. While NetBet doesn’t charge fees for processing Visa deposits, Visa cards are subject to a small fee with each transaction. Visa credit card deposits usually incur an additional cash advance fee.

What is Neteller?

Neteller is a third-party payment processor that facilitates instant electronic money transfers. The cash is transferred from a user’s bank account or Net+ card to NetBet. You can also fund your Neteller account using dozens of payment partners including:

  • Bitcoin
  • AstroPay
  • Euteller
  • Skrill
  • Trustly
  • Visa
  • Paysafecard
  • WebPAY

neteller payment method

Neteller is similar to an eWallet, but unlike eWallets, Neteller users can only have funds in their Neteller accounts for a limited time. Neteller charges a fee of 2.5% for most funding methods. Neteller withdrawal fees range between $0.50 USD and $12.75 USD depending on where the money is being transferred to. Neteller deposits at NetBet qualify for the welcome bonus.

Interswitch

Interswitch allows Nigeria’s online sports betting public to make online bookmaker deposits. Businesses in most African nations accept Interswitch. In fact, Interswitch is among the most widely used payment platforms on the continent.

Interswitch provides Nigerians with several payment options including WebPAY, Verve, and Quickteller. Punters can use Interswitch to make secure instant deposits at NetBet. NetBet doesn’t charge any fees for Interswitch deposits, which also qualify for the welcome bonus.

Go to the deposit section at NetBet, choose Interswitch and the card you want to use. After entering the deposit amount and confirming the transaction, your NetBet account will be instantly credited.

What is Zenith Bank?

Founded in 1990, Zenith Bank is one of Nigeria’s leading multinational financial services. Zenith Bank offers many ways to fund your NetBet account. Aside from conducting an instant bank transfer or using a Zenith Bank issued card, you can also pay using PayDirect.

Zenith Bank customers can transfer funds from their bank accounts to a seemingly endless number of eWallets. Zenith Bank’s mobile app gives you the flexibility to transfer funds whenever you want from almost anywhere.

Using Zenith Bank to fund your NetBet bookmaker account is convenient, fast, and secure. Users might have to pay a nominal fee to complete a transaction but NetBet’s welcome bonus and regular promotions more than make up for it.

 

22Bet Payment Methods

  • Visa
  • WebMoney
  • Skrill
  • Perfect Money
  • Epay
  • SticPay

What is Visa?

Visa is one of the most popular payment methods on earth. It is accepted at millions of businesses both online and land-based. Almost all online betting sites accept Visa credit and debit cards which are issued by banks. Those who do not qualify for credit or debit cards may purchase a Visa prepaid card in various denominations.

Those who use prepaid cards can make sportsbook deposits up to the amount remaining on the card. Visa debit cards are linked to the user’s bank account. Deposits cannot exceed the amount of money in the bank account. A small transaction fee normally applies.

Visa credit card deposits are normally subject to small transaction fees. Furthermore, cash advance fees may also apply so be sure to check with your Visa card issuer.

What is WebMoney?

Webmoney is a popular eWallet that has been around since 1998. It is accepted at many Nigerian sports betting sites, including 22Bet. Available for most mobile devices, users can load their WebMoney accounts using cash at retail outlets. They can also use credit cards, debit cards, internet banking, prepaid cards, and vouchers.

WebMoney account balances can be used to make payments or they can be withdrawn to your bank card or bank account. You can even redeem them at WebMoney exchange outlets. WebMoney is a perfect payment solution for those who do not have a bank account or credit card.

Popular Cryptocurrencies
Other Cryptocurrencies
     
BitcoinLitecoin
GameCreditsBitcoin Gold
QTUMTrueUSDOmiseGO
DogecoinDashNEMBitcoin Cash
STRATISPAXBasic Attention Token
EthereumMoneroBytecoinEthereum Classic
RippleTetherTRON
ZcashDigByteVergeUSD Coin
ChainlinkBitShares

What is Skrill?

Skrill is one of the world’s most popular eWallets. It is accepted at most international bookmakers as well as at 22Bet. Skrill accounts are free to open and you can fund them in a variety of ways. Most commonly, people link a credit/debit card or their bank account. While 22Bet doesn’t charge fees for Skrill deposits, Skrill charges a flat fee of 1.45% for each transaction. However, it costs nothing to receive funds.

Skrill also offers a number of other payment solutions such as the Skrill Prepaid Mastercard. Whatever Skrill product you use to make a deposit at 22Bet, the deposits are instant and secure. 22Bet quickly processes Skrill withdrawals and the funds are usually available to you within a couple of days.

What is Perfect Money?

Perfect Money is a payment system that facilitates instant cash transfers. Buy Bitcoin, precious metals, or fiat currencies like USD and Euros. Of course, you can also use Perfect Money to make a deposit and claim a bonus at 22Bet. Perfect Money offers seven different ways to load your wallet:

  • Bank wire
  • Instant bank transfer
  • Certified exchange partners
  • Cash terminals
  • Bitcoin
  • Prepaid card/eVoucher
  • E-Currency

You can still move money around even if you don’t have a bank account or credit card. Simply go to one of their certified land-based outlets and top up your Perfect Money account using your local currency. Perfect Money deposits at 22Bet are instant and they qualify for bonuses.

What is Epay?

Epay is a powerful payment gateway that allows users to transfer money to over 200 countries. Aside from 22Bet and the depositor, a third party makes the transfer using the Epay network. Unlike bank transfers, which can take time to process, Epay payments are instant.

Epay facilitates a number of popular payment methods including major credit cards, online banking, and even PayPal. This is handy because it gives PayPal users a way to make deposits at sites that don’t support PayPal. Opening an Epay account takes mere seconds, and it’s free.

What is SticPay?

SticPay is an eWallet and prepaid card that allows you to send and receive funds easily and securely. It’s as simple as loading your account or STIC Card and using the money to make an instant deposit at 22Bet. The STIC Card is linked to your SticPay eWallet no matter where you are. There are several benefits to using this payment method.

SticPay payment method

It’s as simple as loading your account or STIC Card and using the money to make an instant deposit at 22Bet

One great feature is its ability to access funds from ATMs around the world. Users also enjoy high daily, weekly, and monthly limits. Once you have opened your SticPay eWallet, you apply for the STIC Card which should get to you within 2-3 weeks. The only requirement is that you maintain a balance equal to about ₦400.

What is Cryptocurrency?

Cryptocurrency is best described as a digital currency. First appearing in 2009, cryptocurrencies are decentralized which means they are not governed by a central bank. Unlike fiat currency that you can hold in your hand, cryptocurrency only exists online. However, cryptocurrency has real-world value and is used to purchase real goods and services just as cash does. While many online betting sites don’t accept cryptocurrency, more sites accept it every day.

22Bet doesn’t just accept popular cryptocurrencies like Bitcoin, Ripple, and Ethereum, they accept over two dozen cryptocurrencies. You can even cash in on 22Bet’s welcome bonus when you deposit using any of the supported virtual currencies.

 

Learn More About the Different Ways to Deposit and Reload Betting Accounts

What is an eWallet?

An eWallet, also known as a digital wallet, is an online service that allows users to store, spend, and receive funds. There are countless eWallets and they generally work in the same way. Users open an eWallet account and fund it using a credit/debit/prepaid card, bank account, wire transfer, or voucher.

Some eWallets can be funded at land-based retail outlets using cash. Once the eWallet is loaded, users can use the funds to make secure payments for goods and services. Almost all online sports betting sites accept eWallets. Typically, eWallet deposits are instant and qualify for bonuses.

Some of the most widely accepted eWallets include:

  • Skrill
  • Qiwi
  • WebMoney
  • Nordea
  • Epay
  • PayPal

What is Cryptocurrency?

Cryptocurrency, also referred to as digital currency or crypto, is a virtual currency that has real-world value. Unlike fiat currencies like the US Dollar, Euros, and Naira, cryptocurrencies aren’t regulated by central banks. Also, unlike fiat currencies, crypto isn’t something you actually hold in your hand. Instead, it exists online and is mined in blockchain using advanced encryption techniques.

payment methods Cryptocurrency

PixieMe / Shutterstock.com

Using cryptocurrency comes with several benefits. When you deposit and withdraw at online betting sites using cryptocurrency, there is no middleman. This equates to little, if any fees. It also means cryptocurrency transactions are processed much more quickly. Those who worry about their online privacy love using cryptocurrency because transactions are completely anonymous. You need not provide any personal or financial details when you use it.

What are Prepaid Cards?

Prepaid cards are a great payment solution for those who don’t have a bank account or credit card. Prepaid cards are typically sold in various denominations at land-based retail outlets. Once purchased, the cardholder can use it to pay for goods and services at physical locations or online.

They work much like credit and debit cards as far as using them goes. However, unlike credit and debit cards, users cannot exceed the amount available. This eliminates all possibilities of accruing overdraft or similar charges.

Prepaid cards usually have very small transaction fees. The biggest downside to using them is that many prepaid cards cannot be used to make withdrawals at sports betting sites. Still, there are plenty of convenient withdrawal methods available. Prepaid card deposits at online betting sites normally qualify for bonuses.

What is Internet Banking?

Internet banking is straightforward. It is a method of conducting financial transactions over the internet. Users can login to their online bank accounts and pay bills, send money, or receive money electronically. Likewise, you can choose to pay via online banking when you make an online payment.

For example, you would choose “Online Banking” from your sportsbook’s deposit options. You would then provide the relevant banking information, the deposit amount, and confirm the transaction. The funds would be transferred from your bank to your betting account.

Some people worry about having their personal and financial details compromised when conducting an online transaction. However, banks that offer online services use the most modern technology like SSL encryption to ensure complete privacy. The same steps are taken by any reputable online betting site.

What are Payment Systems?

Payment systems are simply methods used to facilitate financial transactions. You wouldn’t travel to the physical location of your online sportsbook to deposit or withdraw funds. Instead, you would conduct the transaction using a credit card, debit card, prepaid card, voucher, eWallet, internet banking, wire transfer, and so on. All of those methods are payment systems.

Without payment systems, it would be very tough to make online payments. Sure, you could send a check but think about how long the transaction would take to complete? It would first need to go through the mail. Then someone would need to cash it. Let’s not forget about the time it takes to actually clear. It could literally take weeks. With modern payment systems, transactions are processed and completed much faster and way more efficiently.