The next thing that comes to mind after registering an account on a betting site is to make a deposit, and as important as that is, if you don’t do it the right way, there’s a possibility that your funds will be lost.
For that reason, we’ve put together this guide. You’ll be learning about how you can deposit using the different payment options available to Nigerian punters, the rules to keep in mind, what to do when you encounter any issue, and we answer some of the most frequently asked questions about depositing in Nigeria. Let’s get started.
What You Need Before Making Your First Deposit
Before we go into the different options available for deposit on Nigerian betting sites, there are a few things you should keep in mind, and that includes:
- You need an active betting account. We’re not just talking about any betting sites; we’re referring to bookmakers that are licensed in Nigeria. If you need recommendations, click here.
- After your betting account is in place, what you need is a means to fund your account. You can make use of your bank account, debit card, or any of the fintech apps accepted by the bookmaker, but it has to be registered in your name.
- You’ll need a phone number that’s linked to your BVN or your NIN so that you can receive One-Time Passwords (OTPs) that’ll be sent to you.
Once the above is in place, you’re now set to start making deposits on any betting site in Nigeria.
Step-by-Step Deposit Methods in Nigeria
The best betting sites in Nigeria have payment options like card payment, bank transfer, USSD payment, and e-wallet payments like OPay. Below is a detailed guide on how you can make deposits using the different options listed on Sportybet.
Debit Cards (Visa, Mastercard, Verve)
Debit card payments are one of the most reliable, and they usually have very extended limits for payments. To make a deposit using this option, see the steps below:
1. Log into your betting account and click on the deposit sign at the top of your homepage.
2. Switch from the deposit options available to the card payment option as shown in the screenshot below.
3. After clicking the card deposit option, you’ll be asked to enter your 16-digit card number, expiry date, and CVV. Once that is filled, enter the amount you want to deposit and click on the top up now button.
4. You’ll be directed to a secure page where you’ll need to enter the OTP that’s sent to you via SMS or email from your bank. You enter the 6-digit code in the empty section as shown below and then click on Continue.
5. Once you authorize the payment, your bank account will be debited, and you’ll receive the funds in your Sportybet account.
Instant Bank Transfer
Bank transfer options are not regularly used by punters, and that’s because it may take a while to receive money sent through this method. It’s reliable and good for depositing large funds. Here’s how you can go about it.
1. After signing in, click on the deposit tab at the top of your homepage, and you’ll be directed to the payment page.
2. Switch from the payment option that pops up to the bank transfer option.
3. Select your preferred account to transfer to and enter the amount you want to deposit. Once done, click on the top up now button.
4. The bank details to transfer to will pop up, and you can transfer the amount shown on your screen to the account displayed. Once you make the transfer, click on the “I have transferred the money” button to continue.
5. After clicking, the system will start checking for deposits, and once received, you’ll be credited with your funds.
USSD Code Banking
The USSD deposit option isn’t widely used, but the advantage it has over some of the other payment options is that you don’t need an active internet connection on your phone to use this option. Here’s how it’s done.
- After signing into your account, look for the USSD deposit option.
- The USSD deposit option works with different banks, so you’ll have to choose the specific bank you’re using. Examples of banks available on Sportybet include GTBank, Access, Zenith, UBA, etc.
- After selecting your bank, the USSD code you need to dial on your phone will pop up. The code may appear as *737*50*Amount*558#, for example. The “amount” section is where you’re to add the amount you want to deposit.
- Dial the code on your phone number linked to your bank account and enter your 4-digit or 6-digit USSD PIN to confirm the payment.
- Once done, you’ll receive a confirmation SMS and your betting account will be updated.
E-wallets (OPay, PalmPay, Kuda)
This option is what most punters opt for, and that’s because of how fast and reliable it is. With just the click of a few buttons, your funds will be deposited. See an example of how Opay is used to make deposits below.
1. Ensure you’re signed into your betting account and that your Opay wallet is signed into your phone.
2. Once that is in place, click on the deposit sign at the top of your homepage.
3. Switch from the current deposit option to the Opay option to deposit with Opay. Enter the amount you want to deposit and click on the top up button.
4. You’ll be directed to your Opay wallet, authorize the payment, and your betting account will instantly be credited with the funds.
Quickteller and ATM Vouchers
This is the best option for players who just want anonymity and don’t want to connect their bank account online. Here’s how it’s done.
1. You need to visit an authorized Quickteller kiosk, retail shop, or agent location.
2. Provide them with your betting User ID and the cash amount you want to deposit, and the agent will get it done.
3. This isn’t available on Sportybet, but some other betting sites may have the option. What it entails is that you need to buy a recharge voucher online or from an agent, select the voucher deposit on the betting site, input the pin and your deposit amount will be credited.
Key Rules to Keep in Mind Before Depositing
While trying to make deposits on your preferred betting site, there are a few things that may hinder your deposit from going through. These include.
- Your bank account name must match the name on your betting account. If this isn’t the case, your deposit may be held, and future withdrawals will be blocked.
- Most of the betting sites we’ve tested in Nigeria accept a minimum deposit of ₦100, and others have a maximum deposit. If you exceed the deposit or go below the minimum, you may encounter issues. The limit is usually clearly stated under the deposit option.
- Most bookmakers in Nigeria don’t charge any fee to help you deposit your funds; however, some gateways or USSD operators may charge a fee for processing your transaction.
Frequently Asked Questions
1. What is the safest deposit method in Nigeria?
All of the deposit methods we’ve listed are very safe for payment, but if you’re more interested in remaining anonymous, we’ll recommend that you use Quickteller for payment.
2. Can I deposit using my friend’s bank account or card?
No, it’s not allowed. Third-party deposits are strictly prohibited by Nigerian betting operators, and it’s simply to help prevent fraud. Always make use of your own account.
3. How long do deposits take to reflect?
Most of the deposit options process deposits instantly, but if you’re using the bank transfer option, it may take up to 3 minutes for the deposit to be processed.
4. What do I do if I’ve been debited but it’s not reflecting in my betting account?
If this happens, you may want to wait for about 30 minutes because it may be due to the network. If you don’t get your funds after 30 minutes, keep your transaction receipt and contact the betting platform’s customer support for help.
5. What should I do if my transaction keeps failing?
If your transaction keeps failing, you want to verify that you haven’t exceeded your bank’s daily transfer limit and that you entered the right account details provided during the session.
