Nigerians are finally embracing online payments
The African online betting market is one of the fastest growing in the world and with a young population, increasing mobile penetration and access to the free internet we will be seeing much more of this young continent in the years to come. African Betting Guide is here to make sure that everyone can feel safe when they are betting online, as well as making online payments.
Today we will be looking a bit closer on the Nigerian online betting market and why online payments in Nigeria has a slow start – which now, in recent years finally been taking off.
The early stages of online payments in Nigeria
Plenty of iGaming experts in the world thought Nigeria would become the biggest player on the African continent some years ago already, however it turns out a lot of Nigeria’s has been quite resistant towards the change from physical betting shops to betting online in Nigeria. The main reason for this has been insecurity of doing payments online and in a country were online fraud is widespread, in understandable that gamblers are being cautious. Luckily African Betting Guide is providing their visitors with the best betting sites on their lists – making sure nobody gets lost in the African betting jungle.
Since Nigerians were skeptical towards online payments, many operators like Betway and Bet9ja were hoping to see customers in Nigeria embrace alternative payment methods, such as mobile payments that been taking off in many other African countries. In Kenya mobile payments has become a way of life and Kenyans use M-Pesa to pay anything from bills to deposit money to their online betting account. Unfortunately, mobile payments in Nigeria never really reached the same heights as in Kenya, but luckily we were seeing an increase of smart safe online payment options in the last 2 years, which will guarantee Nigerians their safety while doing payments online. Two local, rather fresh online payment providers, has emerged and are two great alternatives that are ready to take over the Nigerian online payment scene. Flutterwave and Paystack are the names of these two operators who are now trying to grab their pieces of the cake, which last year included over 29 million online payments. This year, in 2018, we have already seen over 10 million online payments in the first four months of the year according to Nigeria Inter-Bank Settlement System.
Online payments in Nigeria going forward
The big European online betting sites have been keeping an eye on Africa for the last years and foreign operators are now getting ready to go live with their operations across the African continent. Big households names like Betway and 1XBet has already launched their online betting sites in several African countries, such as Nigeria, and are planning to expand across the whole continent. We only recommend the best betting sites in Nigeria and we highly recommend international operator Betway Nigeria who offer their customers safe online payment options, as well as local betting site Bet9ja that Nigeria’s customers always can trust.
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