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Converting the Nigerian Naira to bet on sports
If you do choose to exchange funds in order to start betting online from Nigeria,
ensure that do so only once for each deposit or withdrawal. Do not introduce a
third currency as this will add a layer of conversion fees that can be worth up to
5% of the amount transacted. Nigerian Naira to Euro is far better than Naira to Euros
to British Pounds.
If you already have a funding source like an e-wallet or pre-paid solution in another
base currency, try to set your betting account to the same currency. For example,
if you already have an Entropay virtual Visa account in Euros for online shopping
and you want to use it to pay into your sports betting site account, ensure that
you also set your betting account currency to Euros when you register. Are you wondering
about the latest Naira exchange rates? Convert NGN to EUR now or convert NGN to
USD now.
If you are in Nigeria and are looking for Naira online sports betting, you can do
so at a number of State-sponsored betting sites. However there are several reasons
why you may want to avoid some of them, as perhaps surprisingly, they are not the
best Nigeria sports betting sites.
A) no major banking methods like Skrill or Neteller offers Naira balances. Although,
Neteller allows Nigerian customers, you would need to have a balance in another currency.
B) If you want to bet in the Naira, you’ll need to fund your account with a source
that is likely charged fees in excess of any currency exchange fee you might incur.
Fees in Nigeria to fund your betting account often exceed 8% In other words if
you wanted to deposit $100, you might need to pay $108 with these Nigerian state-sponsored
sites. Most currency exchange fees amount about 5% of the exchanged balance. So
in other words, it is both cheaper and more convenient to have an online bookmaker
account with a top international betting site in another currency and bank using
a convenient method like an e-wallet or prepaid solution.
C) When you bet with a reputable international bookie, the odds pay better on your
bets, you get lower bet minimums and higher maximums. At Nigerian Naira betting sites,
minimums are relatively high and a maximum win limit is only about 5,000 US dollars.
Those listed below all have maximums that are many times higher.
Lastly, read the terms and conditions of the Nigeria-based betting site you are considering.
They all have terms that allow them to cancel your winning bet for any reason. While
they would not likely make this a regular practise, the clause exists to protect
themselves if they do a poor job in handicapping a particular result. No legitimate
sportsbook uses clauses like this to punish you for a win in order to protect themselves.
Both the online bookmakers above, Betway accepts customers in Nigeria and and offer
offer Naira account balances:
Non-Naira Sports Betting Sites for Nigeria
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