If you want to know more about the most popular payment options at the best betting sites in Africa, stay tuned. In this betting payment methods guide, you can find out more about trustworthy deposit and withdrawal options.
What Are the Most Popular Betting Payment Methods in Africa?
African online betting sites offer a wide variety of payment methods. Each payment method, however, has benefits and drawbacks of its own.
When choosing the best banking option for your deposit, there are some factors you must take into account.
Check out the list below to discover some of the most popular payment methods at African sports betting sites.
- Mobile Money/ e-wallet
- Cryptocurrency
- MPESA
- Airtel
- Vouchers
- SMS payment
- Bank transfers
- EFT
- Cards
E-wallet
One of the safest online payment methods that are used on different PayPal betting sites is an e-wallet, often known as a digital wallet. An e-wallet enables online money storage and payment processing.
Moreover, you can easily link your e-wallet to your bank account and later use stored funds to make payments at Neteller betting sites, for example.
The transfer process on many Skrill betting sites lasts only a few moments. And this is one of the main factors contributing to this payment option’s popularity.
Moreover, e-wallets don’t usually charge fees for making or receiving transactions. In addition, e-wallets are often used among African punters at betting sites with cash-out options.
Some of the most popular e-wallet platforms are Paypal, Neteller, and Skrill. There are also Ecopayz betting sites that are very sought-after among African punters.
When it comes to Paypal betting sites in Africa, there is no minimum deposit amount, while the maximum deposit limit is $10,000 in one transaction.
For Skrill betting sites, the minimum deposit is $10, whereas the maximum deposit is $20,000. Furthermore, in African Neteller betting sites, the minimum deposit is $10, and the maximum is $10,000. Lastly, Ecopayz betting sites can differ greatly from one to the other, but in most cases, the minimum deposit amount is $10.
Cryptocurrency
Cryptocurrencies are rapidly growing in popularity, and more and more online betting sites are starting to include them as regular payment options.
They are arguably the safest online payment method currently available, which is a major factor in their growth.
Also, a crypto transaction can not be canceled once it has been completed, which lowers the possibility of fraud.
Additionally, transactions are made quickly, with both deposits and withdrawals being finished in a matter of seconds. Furthermore, this payment option has low processing costs that can be as low as 0.5%.
The most well-known and valued cryptocurrency by far is Bitcoin. The minimum deposit amount for Bitcoin is $10, whereas the maximum deposit is $10,000,000.
There are also many African betting sites with cash-out options that also include Litecoin and Ethereum as payment methods.
MPesa
This is a trusted and reliable method of money transfer that has gained popularity, particularly in Africa. However, there are also many international betting sites that accept MPesa as their primary method of payment.
Due to this payment option, African players can now swiftly and easily fund their accounts using a mobile device.
Players can make payments through M-Pesa by storing money in an account. Then, these funds can be used to make deposits at various African and international betting sites that accept Mpesa.
Moreover, by entering a special code that is received via text message, players can confirm their payments.
One of the main factors contributing to this payment option’s popularity is the instant transfer time it provides. Additionally, the minimum deposit amount is $10, whereas the maximum is $820.
However, there is a small fee that players have to pay after withdrawing their winnings.
Airtel
Another payment option that is steadily gaining popularity in Africa is Airtel. Punters can effortlessly receive and send money offline using Airtel Money.
Additionally, it’s a very safe and transparent process that leaves no chance for fraud. Furthermore, transactions are instant with low payment fees.
When using this kind of payment, the minimum deposit is $0.12, and the maximum limit is $120 per card.
Vouchers
Vouchers are purchased in stores which players can later use to make a deposit at online sportsbooks.
Since there is no connection between the players’ bank account information and the gaming website, your private information is protected. Paysafecard, Neosurf, and EcoVoucher are a few of the best-known vouchers.
Since Paysafecard is the most popular type of voucher, the minimum deposit for this payment method is $10, and the maximum deposit amount is $300
SMS Payment
Players can deposit money into their sports betting accounts while on the go by using the Pay by SMS payment option. It allows players to add money to their accounts via text message, which is paid via their phone credit.
Furthermore, if a player has a monthly membership, they can pay for it through their service provider. Instant transaction time is one of the main features of SMS payment.
Additionally, since the transaction is completed using your phone number, you don’t need to provide any personal information details.
The minimum deposit is typically around $30, though there are some minimum deposit limit restrictions.
Bank Transfers
Bank transfers, commonly known as wire transfers, are a payment option that allows users to move funds from their bank account straight to the betting account.
Moreover, it is one of the first methods used for online betting transactions.
A bank transfer is among the most highly secure casino payment methods available for both deposits and withdrawals.
Although it often takes a few minutes for deposits to appear in your account, using this method can result in a five-day wait for withdrawals. The typical minimum deposit amount is $10, and the maximum deposit is $10,000.
EFT
An electronic fund transfer, or EFT, allows its users to instantly make online transactions. When using this payment option, funds will be transferred into your account in less than 24 hours.
Customers also don’t have to provide a lot of personal information, making it safer for online transactions.
However, some banks do include additional fees when using this payment option. For this form of payment, the minimum deposit amount is $10, and the maximum deposit amount is $250,000.
Cards
The most commonly used method of payment on betting sites with cash-out options is still credit cards. VISA and MasterCard are the two credit cards that are most frequently used on online sites.
Credit cards VISA and MasterCard are among the most widely used deposit options for a variety of factors. The fact that they don’t charge any additional fees is crucial.
In addition to this, the usual minimum deposit amount for Visa and MasterCard is $5, and the maximum deposit amount is $5,000.
How to Choose the Best Betting Payment Method?
There is a number of factors that you need to be aware of in order to choose the best payment option for you.
Here are some tips on how to choose a safe and reliable payment option for bettors in Africa.
Security
When choosing a payment method, the first thing you should consider is the level of security it offers its users. Moreover, make sure to examine the operator’s security measures before selecting a payment option.
This is crucial because you’ll be providing the site with financial and personal data.
Processing Speed
You should also examine the transaction processing times on betting websites. Additionally, the time it takes to deposit and withdraw money will vary based on the payment option you select.
Bank transfers are often the slowest choice, whereas cryptocurrencies are typically the fastest.
Additional Fees
When selecting your payment method, one of the most important things to think about is whether there are any additional fees.
Therefore, when selecting your betting payment methods, you need to take into consideration the following:
- Service fees, which are often charged by credit card companies
- Transaction expenses, which the bank may require for each transaction.
Look For Bonuses
Some African online betting sites may offer players a special bonus offer for using a certain payment method. With these bonuses, players can receive matched deposit offers or free bets. These specific promotions could come in handy, so make sure to look out for them.
How to Make a Deposit on the Betting Site?
Once you have completed the signup process, you should add funds to your account. Making a deposit is a simple and quick process with most bookies.
Additionally, it should be noted that in order to safely transfer your funds into your betting account, the player must read the operator’s terms and conditions.
Moreover, the depositing process is similar on many African betting sites. So, no matter if you opt for international betting sites that accept Mpesa or those that include credit cards, the depositing process should be rather similar.
If you want to know how to deposit your funds into your betting account, check out the list below.
- Firstly, go to the operator’s main page and log into your account.
- Then, open the payment page and search for “Deposit”.
- Here, choose your preferred depositing option.
- Furthermore, add any additional information if needed.
- Also, enter the amount you wish to deposit.
- Moreover, you will need to accept the operator’s terms and conditions.
- Finally, click on the “Deposit” button to confirm the transaction.
How to Withdraw Money From the Betting Site?
When it comes to withdrawals, there are different rules for each bookmaker. However, for the majority of them, the process is similar.
Check out the list below to find out how to make a withdrawal on a betting site in Africa.
- Firstly, open your browser and go to the operator’s main website.
- Then, log into your betting account.
- Afterwards, go to the payment section.
- Moreover, click the “Withdraw” option.
- Here, you need to select your preferred payment method. In some cases, such as mobile payments, you need to use the same payment method you used for depositing.
- Also, enter the amount you wish to withdraw.
- Once you finish filling in the details, you can request a withdrawal.
- Finally, after the processing time is finished, you can receive your funds.
Online vs Offline Betting Payment Methods
There are two types of betting payment methods – online and offline methods of payment. Offline methods are considered more practical by some bettors since they are directly paid by or to the user at the retail store.
While the online version requires an Internet connection, and the funds are transferred directly into the account.
Moreover, when using online payment methods, transactions are quick and can be withdrawn from any part of the world.
While using an offline option, you must go to the bookmaker’s retail shop to withdraw your funds.
However, with offline betting payment methods, there are zero additional fees which is not the case with online options. All in all, it all comes down to personal preference.
Whereas online payment options let you make deposits and withdrawals without having to go anywhere, there are plenty of bettors who would rather take their payouts in person.
