What betting companies venturing in Nigeria need to know about accepting payments

By November 23, 2017Blog Posts

Research depicts that roughly 60 million Nigerians between the ages 18 and 40 are involved in active sports betting. On average, these “punters” spend in the margins of 3,000 Naira (about $15) every day on bets.

The country boasts a population of 186 million people as of 2016 and this population continues to grow – As well, interest in betting steadily rises among the people of Nigeria for a number of reasons :-

  1. Some looking for an easy source of extra cash besides their jobs.
  2. Others treat it as their day to day source of income (job).
  3. Some are just curious – seeing it as an opportunity to supplement on an interest in sport that they already possess.

Many betting companies from the the US and Europe are extending to Africa as they look to position themselves into the gold mine that is the growing betting market on the continent.

Common perception from the protagonists of betting can be quoted as saying – “Supporters of sports betting in Africa claim it’s a business that offers employment to thousands of young people, provides quick money for ordinary people, generates tax revenue for government and contributes to economic growth in African countries.” http://www.smallstarter.com/browse-ideas/how-sports-betting-is-taking-over-africa-and-a-few-interesting-facts-you-should-know/

Betting companies need to understand the payment habits of Nigeria before diving deep into business end of things It’s important to know how people will be willing to pay – what payment modes work for Nigeria and which ones don’t.

Nigeria has a strong banking system where their online platforms assist a lot of people in moving money. Card systems supplement the online banking in Nigeria with Mastercard, Verve and Visacard being the main players in the market.

Businesses usually aim at the simplest way of accepting payments from their customers but “ How can this be done when Nigeria has online bank platforms on a number of banks and various cards in use ?

Businesses already in Nigeria have settled for Dusupay because it provides a unified seamless avenue for payments in the country and Africa at large.

Dusupay understands business needs and Africa’s payments as well therefore using the Dusupay platform enables betting companies to collect money from all banks and card systems in Nigeria while receiving the funds on one convenient payment mode for the business.

More about Dusupay https://www.dusupay.com/