Nigeria has one of the most lucrative markets for gambling in Africa. Although traditional casino games and slots are strictly prohibited by the current legislation, players have taken full advantage of the cryptocurrency outburst in the land to take on a new form of gambling.
More specifically, crypto gambling sites in Nigeria allow locals to gain access to prohibited casino games and circumvent any limitations, while staying under the radar. Keep reading and we will break down all the critical details and showcase the best crypto-friendly sites you can register to.
The world of crypto gambling is a fast-paced ever-changing environment. We are dedicated to creating an up to date list of the best available bonuses. Enjoy exclusive offers and promotions that you can claim with BTC, ETH, XRP and many more, knowing that we always filter out potential scams so that you can find a convenient Nigerian crypto gambling site that fits your needs.
What to know about crypto gambling sites in Nigeria
Gambling in Nigeria is legal and is regulated by the government. The Nigerian National Lottery Regulatory Commission oversees all gambling activities, while individual gambling commissions regulate betting in specific states. Only sites licensed by both federal and state bodies are allowed to legally operate in Nigeria. Some online casinos are directly affiliated with physical ones, mainly located in major cities such as Lagos, Abuja, Port Harcourt and others.
The Nigerian crypto gambling situation became grim in February 2021, when the country’s central bank declared crypto trading illegal. Since then, most users have moved to the peer- to-peer (P2P) crypto market. On whose platforms you can purchase crypto directly from other users instead of a conventional crypto exchange. Nonetheless, many crypto casinos holding a local or offshore licence are still accepting Nigerian players.
Trending Brands in Nigeria
No of Cryptogambling Sites
5
Top Site
Anonymous gambling sites
4
Most Secure
Provably fair casinos
2
Most Games
Instant Withdrawal Sites
5
Fastest Payout
Stablecoin gambling sites
5
Most Networks
Keep in mind that in general, crypto gambling regulations are quite unclear. But in short, players from Nigeria that bet with cryptocurrencies on websites holding an offshore licence are in a grey area. Still, authorities do not seem eager to prosecute such actions.
With these facts laid out, let’s see which are the best crypto casinos & sportsbooks for bettors that reside in Nigeria.
Nigerian crypto gambling facts
1
Based on these laws, legal gambling activities in the country include the lottery, land-based & online casinos and sports betting from licensed operators. Meanwhile, games like roulette, dice and non-skilled games are deemed illegal.
2
When the Central Bank of Nigeria started to ban crypto trading, many crypto enthusiasts turned to P2P (Peer to Peer) platforms to buy their crypto coins, despite the higher cost.
3
No federal law officially prohibits Nigerians from playing on offshore or foreign bitcoin gambling sites. They can freely place bets and play casino games without restrictions.
4
Nigerian gambling sites have a wide range of slot games by established game providers like Microgaming, NetEnt and Playtech.
Best crypto casinos in Nigeria
Millions of people in Nigeria are active gamblers, and the crypto iGaming market is growing rapidly, despite the imposed cryptocurrency trading ban. The government itself can not stop this trend. Below you will find the top crypto gambling sites in Nigeria that offer over 2,000 slots from the best providers, several crypto bonuses and lighting fast payouts.
Welcome bonuses are one of the most important features for crypto gambling sites in Nigeria. Due to lower operational costs of cryptocurrency payments, a large welcome bonus is considered as standard at Nigerian crypto casinos, so do not settle for less. Bitcoin gambling sites offer bonuses that can easily go up to 1 BTC, which is much higher than traditional ones that offer around 40.000 Naira.
In any case, we strongly recommend you read every promotion’s Terms and Conditions, especially regarding wagering requirements, as they differ from one casino to another. A few other essential factors to look out for are max bet limits regarding the bonus wagering, or if there are restricted games and a maximum winning limit.
Legit crypto betting sites in Nigeria
The number one sport here is definitely football. And crypto betting sites in Nigeria offer the best deals when it comes to sports. High odds, cashback promotions and multiple markets are a few of the perks of Nigerian bookmakers accepting cryptos. Moreover, crypto sports betting is the best way to stay under the radar and circumvent local restrictions. Feel free to check out our hand-picked recommendations, which will provide you with all the aforementioned benefits.
A good bookie should offer the most popular betting options like 1X2, both teams to score, European & Asian Handicaps, but also secondary ones like cards & corners, Combo bets and player specials.
Always read through the terms and conditions. Withdrawal times are really important and can lead to an upset when you need to wait too long to receive your winnings. Moreover, a withdrawal fee is a big red flag.
Many bookmakers provide a cash-out feature, allowing bettors to immediately receive an amount of money and close their bet before it is settled. It is a popular option among recreational bettors as it eliminates the chance of a bet returning nothing. Opt for sportsbooks with this feature.
How to deposit on Crypto gambling sites in Nigeria
Since crypto trading has been banned in Nigeria, you can no longer purchase cryptocurrencies directly from a regular exchange. Instead, you need to buy your crypto directly from other people. The difference is that other random users offer their crypto coins on Peer-to-Peer exchanges like Remitano, Binance or Paxful. As a local player, you can buy it directly just like that, instead of an official trading exchange like Coinbase, Kraken or Gate.io. Below, you will find an overview of the necessary steps you need to take.
Step-By-Step Process
Step-By-Step Process
1
Start an account at a crypto exchange. Fund it via debit card, bank transfer or any other local option. Acquire the cryptocurrency that you are going to use as a gambling bankroll.
2
If you are not in a hurry, limit orders hold fewer fees than market orders. Sometimes, it is better to acquire the proprietary coin of the exchange first, as trading pairs with them cost less.
3
Transfer the cryptocurrency amount to your private wallet. Never make direct transactions between crypto exchanges & crypto gambling sites. Crypto exchanges may freeze such accounts.
4
Head over to the gambling site’s cashier section. Click on the relevant crypto method. The wallet’s address will appear. Copy the address and paste it into your wallet’s send function. QR code scans are commonly available too.
5
If a brand does not support crypto-only wallets, watch out for the exchange rate. Any spread above 1% of the current market rate is too much.
6
After a few seconds or minutes, your deposit will settle. This depends on the cryptocurrency and the number of block confirmations required by the operator.
When the time for an eventual payout comes, the process will differ from one site to another. As soon as they process your withdrawal request, it should be in your private wallet within a time frame of a few minutes up to an hour, depending on the coin or token you use. Let’s now take a look at fiscal regulations on gambling winnings in Nigeria.
According to the Nigerian tax code, you will have to pay different tax percentages on gambling and crypto profits. A flat 24% applies to regular gambling winnings. It is simple to pay, just like regular taxes, but you should carefully calculate it. Nigeria also has a 10% flat tax regarding crypto capital gains. However, the government cannot prove your crypto transactions at the moment, which is great for players who want to keep a low profile. As you can see, crypto gambling is the better alternative.
Stay under the radar
If you want to bet anonymously in Nigeria, try out one of the offshore crypto gambling sites, where KYC requirements are very relaxed. You just need to provide a username and email to register with some of them. However, note that most cryptocurrencies are pseudonymous and not anonymous; as long as nobody knows your wallet address, you are anonymous, but every transaction can be traced back to you if someone gets to know it.
In any case, you can create endless private wallets, so tracking all of them would be nearly impossible. And there are other opportunities to stay fully anonymous too, like using privacy coins like Zcash or Monero.
Crypto Gambling in Other African Countries
Nigeria is not the only country that faces a form of ‘double-taxing’. The South Africa crypto gambling market also shares the same hiccup and a similar situation can be seen in most countries around the world. In short, sticking to under-the-radar alternatives seems to be the way to go for most crypto-savvy players.
*Remember, as we are not financial advisors, this is meant to be a simple overview of the current fiscal situation. Contact a tax professional for your financial inquiries, as errors may lead to significant losses & subsequent fines.
The situation around online gambling and crypto betting in Nigeria is clearly not as simple as it seems. Everything is on thin ice, as the legislation is unclear in many aspects. Nevertheless, crypto betting sites in Nigeria, as well as crypto casinos, have been growing in popularity over the last few years, even with the latest hostile developments against cryptos. Cryptocurrencies allow Nigerian players to stay entirely under the radar and access a wide range of gambling products that would otherwise be unavailable. This is why we believe that crypto gambling sites in Nigeria are the optimal solution for avid bettors. Trust our selections and your bankroll’s value will be significantly enhanced.
FAQs
Yes, gambling and betting sites in Nigeria are legal and regulated. Every state has its own laws regarding gambling, but they also abide by general federal laws. Lottery, online & land-based casino gaming and sports betting are all permitted under local regulations. Meanwhile, games like roulette, dice games and non-skilled card games are prohibited.
Since crypto trading is officially banned in Nigeria, you cannot buy Bitcoin or other crypto from most Exchanges. Because of these crypto regulations, you need to buy your crypto from a P2P exchange where other people around the globe will sell them directly to you. However, Binance, for example, is offering this service as well. Some other P2P exchanges are Paxful, Localbitcoins or HODL HODL.
The number of Nigerian bookmakers accepting cryptos is increasing. There are also several Nigerian crypto betting sites on the market, but just a few of them have a valid local licence; most of them hold an offshore licence and operate from foreign countries.
In Nigeria, crypto trading is banned; therefore, it is not as easy as in other countries. However, there is always a way; instead of buying cryptos from a regular crypto exchange, players have to register on a peer to peer (P2P) exchange. That’s where other people sell their crypto directly among them instead of buying it off a normal crypto exchange.
Yes, cryptocurrencies are legal in Nigeria, but there is a crypto trading ban which means local users are not able to purchase crypto directly from an exchange. However, it is absolutely legal to own Bitcoin or other cryptocurrencies.