Betting is a popular hobby for many Nigerian youths, and for good reason. Aside from enjoying the thrill that comes with playing their favorite casino games, players also have the chance to gain financial rewards when they win.
While online betting has been popular in the country for many years, the concept of betting with Bitcoin and other cryptocurrencies is pretty new to Nigerian players.
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As cryptocurrencies continue to grow globally, Nigerians are becoming more bullish about them, and many online casino players in the country want to get in on the fun.
Both new and existing players are out searching for the best Bitcoin casinos and sportsbooks available in Nigeria. That’s why we created this complete guide to provide with everything you need to know about Bitcoin betting in Nigeria and the best Bitcoin gambling sites to use.
Is Bitcoin Casino Betting Regulated In Nigeria?
Sticking within the bounds of the law is highly advisable, especially when dealing with money and gambling. The first thing you probably want to know is if online Bitcoin betting is regulated or legal in Nigeria.
Although Bitcoin is a decentralized currency and not controlled by any government or central entity, companies or casinos that deal with the cryptocurrency are often regulated by the authorities. That said, some decentralized casinos that are out of the government’s reach do exist.
The legal status of gambling in Nigeria is somewhat ambiguous. Some games are deemed legal, while others are not. For instance, lottery, sports betting, and most games in casinos are legal, but games like roulette, dice, and non-skilled card games are not.
There are plenty of Bitcoin games that fall within these legal categories, but hey, not being controlled by the government is one reason why cryptocurrencies exist. As a Nigerian player who enjoys betting on games classified as illegal, you might consider decentralized casinos or crypto-only betting platforms.
Best Bitcoin Casinos And Sportsbooks Available In Nigeria
Cloudbet is one of the oldest Bitcoin casinos operating in the Nigerian market. The company was launched in 2013 and is a global success. It allows Nigerian players to wager with four different cryptocurrencies, including BTC, ETH, and USDT. Cloudbet is a regulated casino with licenses from the Montenegro E-Gambling authority and the Curacao eGaming Commission.
Although the website specializes in sports and e-sports betting, it has a dedicated section for casino games with over 1000 titles in slots, table games and more. Cloudbet also offers live sports betting as well as live casino games.
FortuneJack is a go-to Bitcoin casino for beginners and seasoned Nigerian players alike. The website has more than 1500 games, including live dealer titles from popular providers like Pragmatic Play and Betsoft. The casino also has a section for sports betting and accepts nine major cryptocurrencies, including Bitcoin, Litecoin, and Ethereum.
Launched in 2014, mBit is another popular Bitcoin casino that accepts Nigerian players. While the casino has a large game portfolio, it does not have a sportsbook and is thus not suitable for sports punters. Like other good Bitcoin casinos, mBit offers an attractive welcome bonus of up to 5 BTC with more than 300 free spins.
1xBit casino may be the new kid on the block, but it is also the most innovative Bitcoin casino platform around and provides full user anonymity. 1xBit has a long list of games to select from. These include casino games, sports, and e-sports. The platform supports more than 20 cryptocurrencies, including BTC, ETH, XRP, etc.
Nigeria Bitcoin Casinos FAQ
Here are some of the most common questions frequently asked by Nigerian players about Bitcoin casinos and sportsbooks.
Is Bitcoin Legal In Nigeria?
While a few countries have placed an outright ban on cryptocurrencies, Bitcoin’s legal status in Nigeria has not yet been declared. But one thing is certain: using Bitcoin is not illegal in Nigeria.
The Nigerian Security and Exchange Commission is currently working on a regulatory framework for companies dealing with Bitcoin and other cryptocurrencies.
Is Bitcoin Gambling Safe In Nigeria?
Since Bitcoin is not illegal in Nigeria, using it for gambling is also not against the law. However, as stated earlier in the article, the Nigerian gambling industry is regulated, and some casino games are illegal. With that said, Bitcoin casinos are licensed and regulated. Unless you’re an advanced player who knows their way around the internet, we recommend that you stick to regulated platforms.
Can I Play Free Games On Bitcoin Casinos?
Yes, some Bitcoin casinos offer no deposit bonuses and free spins to new users. Also, some casinos allow you to play free games without using real money. This allows you to practice a game before placing a bet or just play for kicks (as if!)
How To Buy Bitcoin And Cryptocurrencies In Nigeria?
Buying bitcoin in Nigeria has never been easier. There are crypto exchanges that allow users to purchase BTC via bank deposits or with Naira debit cards. This option is most suitable for crypto beginners since it is convenient and eliminates scams.
However, if you’re a crypto veteran and cautious about your online privacy, then using a peer-2-peer exchange to purchase your preferred cryptocurrency is probably the the way you’ll go.
You can do this on platforms like Paxful and LocalBitcoins. There are also legit communities on social media like Facebook and WhatsApp where you can buy Bitcoin and other cryptocurrencies in Nigeria. Whichever route you take, use caution and common sense and you’ll have no problem avoiding scams.
What Is The Minimum Amount of Bitcoin I Can Deposit?
The minimum or maximum amount of Bitcoin you can deposit or withdraw depends on the casino you’re using. But, most importantly, you don’t need to deposit a whole Bitcoin at a time. At the time of writing, 1 BTC is about 7.5 million Naira, which is a lot of money in Nigeria or anywhere else for that matter! You can always deposit in fractions.
Which Cryptocurrencies Can I Use To Gamble Online?
Every casino has its own list of supported currencies. Some of the major ones you can expect to see on most platforms include Bitcoin, Ethereum, Litecoin, Ripple, and Tether USDT.
How Long Do Bitcoin Deposits and Withdrawals Take?
Once you send Bitcoin to your casino wallet address, it takes about 2-10 minutes for the transaction to confirm and reflect in your balance, depending on the Bitcoin Network. It might take longer on some days and can even be up to an hour or two on rare occasions. That means if you’re a sports person, it’s important to always deposit your funds on time so that you don’t miss out on the action. Other cryptocurrencies like USDT, ETH, and XRP are faster to confirm due the lower amount of transactions taking place on their networks.
Can I Play Live Dealer Games On Bitcoin Casinos?
Many Bitcoin casinos offer live dealer betting options to Nigerian players. Just ensure that you have a strong internet connection and a decent smartphone or other device to enjoy live casino games on.
What You Must Know Before Start Online Gambling With Bitcoin
Like most things, there are both advantages and disadvantages of using Bitcoin casinos. Here are some of the major pros and cons of betting with Bitcoin and other cryptocurrencies.
Fast and Secure
Bitcoin payments are processed within seconds or at most a few minutes, depending on the network congestion. It is also secure because the blockchain protocol is very difficult to hack or steal, unlike other payment methods such as credit cards.
However, it’s important to learn best practices for using crypto before buying in because once you start using Bitcoin, you can become a target for hackers or phishing schemes.
Multiple Payment Options
“Bitcoin Casino” is simply the ‘me too’ name for betting sites that accept crypto. Almost every casino with the tag accepts payment in other major cryptocurrencies such as Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and Stablecoins like Tether (USDT).
Although Bitcoin is a volatile asset, using it for betting gives you exposure to the world of cryptocurrencies. As someone from a developing country, this can be a handy experience in a shifting economic world. Nigeria’s national currency, the Naira, is weakening every day due to inflation and economic recession in the country. For this reason, many Nigerians are buying crypto as an investment and a hedge against the creaky economy.
Today, data breaches affecting millions of people are a common occurrence for many large companies and governments. Leaked personal information and card details are sold on the dark web. Using Bitcoin casinos means you don’t have to give your financial information like card details to the casino operators when you want to deposit or withdraw funds from your betting account.
Can Be Complex For Beginners
Mastering a new technology can be difficult for many people, and that holds true for crypto. Although sending and receiving BTC works pretty much like other forms of online payments, casino players using it for the first time have been known to mistakes that can cost them money. Read our article about ‘the top eight mistakes to avoid as a new Bitcoin casino player’ to ensure you don’t fall into this trap!
How To Pick The Best Bitcoin Casino
Now that you know the pros and cons of using cryptocurrency casinos, the next important thing is picking the best Bitcoin casino for Nigerian players.
Reputation is a key factor when considering what casino to use when you embark upon your gaming adventure. You need a Bitcoin casino that provides a holistic user experience with honest and fair terms for players. For instance, many modern casinos are adopting provably fair games to allow players to verify bet results. This added transparency gives users peace of mind that the casino is not cheating them.
Customer service plays an important role in your online gaming experience. The best Bitcoin casinos strive to ensure that their customers are always satisfied and disputes are resolved quickly and fairly. The best way to determine the customer service rating of a casino is to read reviews on blogs and explore forums where other players share their experiences using the platform.
You can also test the customer support center before depositing funds into your casino account. Do this by contacting support and asking a few simple questions. Watch out for their response time and how well they handled your queries.
This is an important factor to consider when choosing the best Bitcoin casino in Nigeria. Every good betting site has a large collection of games ranging from slots to table games and sports. Some casinos, however, are more focused on a particular game type than others. For example, a Bitcoin casino may offer hundreds of slot titles but may not support sports betting. So make sure the casino has what you’re looking for before you create an account with them.
Live Casino Games
Playing live casino games is a lot of fun. It’s the closest thing to being in a real casino environment while still enjoying the comforts of home. Online casinos that don’t provide live games will likely go out of business sooner rather than later. If you’re looking to wager on live dealers, make sure you check the casino’s live games section to see what they offer before proceeding.
Bonuses & Wagering Requirements
Most casinos offer incentives to players in the form of bonuses. The best Bitcoin betting websites give bonuses to new players and provide regular promotions for existing punters.
But don’t be deceived by mouthwatering welcome bonuses and free spins. Make sure you read the wagering requirements before you proceed with any bonus offerings.
Aside from the convenience that smartphones and tablets offer, mobile devices are more common than computers in Nigeria. If you need a Bitcoin casino that has a mobile app or a mobile-optimized website, simply research which are available on your operating system.
Try to choose a betting website with at least a few different payment options. While some online casinos combine traditional payment methods and cryptocurrencies, others only support crypto.
If you’re in Nigeria and looking for an amazing Bitcoin gaming experience, you need a good Bitcoin casino. Use the information provided in this guide to find the best betting online gambling websites available to Nigerian players. Once you’re happy with your choice, simply sign up, transfer some currency and begin your (hopefully successful) journey!