Bitcoin (BTC) has taken the Nigerian sports world by storm. Its popularity has led to the emergence of many betting platforms in the country, supporting it as a payment method. So, how do you pick the right BTC betting site to join from the dozens of options available? That’s where we come in.
In this guide, we have assembled a list of top betting sites that accept Bitcoin in Nigeria. We will provide a brief review of each site. Also, we will explain the process of depositing and withdrawing your BTC winnings from these sites.
Top Bitcoin Betting Sites in Nigeria
Here are some of the top BTC betting platforms in Nigeria. We have tested each of these platforms to ensure they are reliable and operate per the Nigerian laws:
BC.Game
The first crypto bookie we recommend is BC.Game – an established platform only dedicated to sports betting. Crypto deposits are processed quickly, and all the altcoins, including Bitcoin, are supported. Others include Ethereum, Dogecoin, BNB, TRON, Ripple, Solana, etc.
For those Nigerians new to the world of cryptocurrencies, BC.GAME still has a solution. They can use their credit cards through MoonPay or Banxa on the platform for easy and quick conversion of fiat currency to their preferred crypto.
Note that while card payments can be used for deposits to purchase crypto, withdrawals from BC.GAME are exclusively processed in cryptocurrency. Also, BC.GAME imposes a small processing fee, starting at a minimum of 0.1% of the total transaction amount.
1Win
1Win is a decent sports betting site that has been trusted by hundreds of thousands of players from all over the world. Nigeria is one of the countries where the site operates legally.
Among the standout features of 1Win Nigeria is its sports library. It caters to a range of sporting tastes, with global options such as soccer, tennis, baseball, cricket, and basketball, as well as niche sports like darts, shocker, and esports.
Another thing that has made 1Win popular among Nigerians is its support for crypto transactions. Users can bet using BTC and other popular coins such as Bitcoin Cash, Ethereum, USDT, Binance, Tron, Dogecoin, Litecoin, ZCash, Ripple, Stellar, etc.
If you have a problem with your crypto payments, you can always use their friendly customer support service. Their live chat is available 24/7.
1xBit
1xBit is another Nigerian betting platform that accepts Bitcoin and other virtual currencies. Actually, you can use more than 40 different cryptocurrencies to deposit and withdraw. And the best thing is that 1xBit offers you an option to purchase crypto directly from your player account via various exchanges. The entire process is easy, so even a player new to the crypto world can do it seamlessly.
The registration process is also straightforward. Just enter your email address and preferred password and click the “Register” button. You are done!
Even the most demanding players will find many betting opportunities, from well-known to niche. Options include soccer, boxing, baseball, basketball, ice hockey, water polo, cycling, and several popular TV shows.
Cloudbet
Cloudbet was established in 2013. It was one of the pioneering Bitcoin sportsbooks in the market. Today, Cloudbet has a huge presence in many countries, Nigeria being one of them.
As the name suggests, you can only make deposits and withdrawals via crypto. Fiat currency is not allowed. However, if you don’t have any crypto in your wallet, they have a feature where you can use MasterCard, Visa, Google Pay, and Apple Pay to buy crypto.
A new account at Cloudbet comes with some freebies. The welcome package will get you a 100% bonus of up to 5BTC. However, you must deposit at least 0.001 BTC to activate this offer.
Their range of betting markets is impressive. It includes player favorites such as soccer, basketball, tennis, and baseball, to mention a few.
MegaPari
Megapari has been a familiar name in the sports betting industry. However, it wasn’t until 2023 that Nigerians learned about the platform. This was when Megapari launched its Nigerian website, introduced support for the NGN currency, and integrated several local payments methods. With these improvements, Megapari has established itself as a reputable Nigerian betting brand.
However, one notable thing that has made the platform even more popular among players is its support for crypto. You choose between many different altcoins, BTC being the most popular. Also, as a new member, you will be rewarded with a 100% signup bonus to bet on options such as Soccer, American Football, Basketball, Boxing, Horse Racing, Volleyball, Motor Sports, etc.
If you want to learn more about all of the Bitcoin betting sites mentioned above, visit the website of crypto gambling experts Bitcasinorank.com.
How to Use Bitcoin on Betting Sites
Do you have some Bitcoin in your wallet and want to transfer it to a betting platform so you can start placing bets? It is easy. Just sign up with one of the sites we have reviewed and follow these steps:
- Log in to your playing account. Go to the cashier section and select BTC as the method you want to use.
- Go to your crypto wallet. Click the send button.
- Add the address offered by the betting site you are using. Also, specify the amount of BTC you want to send to your betting account. Click on “Send Funds.”
- Your account will be credited right away.
Should you be lucky and win some money, the reverse process of cashing out is also straightforward.
Follow the three steps below to withdraw funds from your BTC sportsbook account:
- Go to the cashier page. Select the withdrawal option.
- Choose Bitcoin as the preferred method.
- Go to your crypto wallet and copy its address. Paste this address on the withdrawal address section provided by the bookie.
- Complete the transaction by confirming the withdrawal amount.
Potential Risks Linked to Bitcoin Sports Betting
Bitcoin offers several benefits, including anonymity, fast transactions, and low fees. However, it also comes with inherent risks that Nigerian bettors should be aware of.
Price Volatility
Like any market, Bitcoin is subject to price fluctuations. This means that the amount of Bitcoin you deposit into your betting account could decrease in value before you have a chance to place your bets. You are at the mercy of Bitcoin’s volatile market; therefore, you should always take extra care when using it to bet.
Security Risks
Bitcoin and other crypto coins offer decentralized transactions. However, that doesn’t mean they are immune to security risks. For example, you can lose the private keys that give you access to your funds. And then there is phishing, hacking, and all the other attempts to get control by fraudulent means.
To address these concerns, operators implement security measures such as:
- Two-Factor Authentication (2FA): Operators may require players to provide a secondary form of verification. For example, a code is sent to their mobile device. This helps thwart unauthorized login attempts and enhances account security.
- Cold Storage for Funds: Cold storage involves storing Bitcoin in offline wallets. This makes them less susceptible to hacking attacks.
- Regular Security Audits: Betting operators conduct regular security audits and assessments to identify system vulnerabilities.
Uncertain Regulation
The regulatory uncertainty around Bitcoin raises a lot of concerns among users. Different countries seemingly pass new laws every other day. This makes it hard to stay updated on BTC’s progress. Actually, some countries have even gone as far as imposing outright bans on Bitcoin.
For example, in February 2021, the Central Bank of Nigeria (CBN) issued a directive banning commercial banks from engaging in cryptocurrency transactions. However, in 2023, the CBN reversed this ban, citing the need to regulate such activities in line with global trends.
Despite these uncertainties, many experts believe that crypto will continue to influence the future of sports betting. Many countries have embraced this innovative form of payment and are actively working on regulations to ensure the safety of crypto transactions within their jurisdictions.
Inadequate Consumer Protection
Unlike traditional payment methods, once a Bitcoin transaction is initiated, it cannot be undone, leaving players vulnerable to unfair practices or disputes. If a sports betting platform engages in dishonest behavior or fails to honor winnings, bettors may find themselves with limited options for recourse.
Traditional banking systems often offer avenues for dispute resolution and chargebacks, but these protections are absent in Bitcoin betting. Therefore, you must exercise caution when using crypto to bet. Also, choose reputable platforms with a proven track record of fairness and reliability.
Final Thoughts
Finding a reliable and safe sports betting site that accepts Bitcoin in Nigeria isn’t as easy as it seems. However, we have managed to get to the bottom of it. Our list of the top Bitcoin bookies ensures you enjoy unrivaled convenience and security. Just register an account and start enjoying the benefits that come with BTC betting.
