Casino Payment Methods
While inexperienced Nigerian players may look to the game offer, when considering a live casino, veterans understand that having reliable payment methods on hand can make or break the gaming experience.
What good are winnings if it takes ages for them to reach your pocket? We at LiveCasinoDeal know the nuances of making secure and fast payments at the best casinos that accept Nigerian players, and we’re here to help you understand what method best suits your needs.
Guide to payment methods in casinos
For a smooth live casino experience, it is crucial to pick a platform that provides efficient payment options. You do not want your entertainment interrupted with drawn-out procedures that make it difficult for you to fund your account and continue playing. Nor do you want to wait for days for your winnings to reach you.
You want a gaming site that lets you make in-game deposits, ones that do not even require you to exit your game. Luckily, we list many such platforms to maximize entertainment and not have you waste time.
Which is the best Payment Method?
Every option has positives and negatives. Most Nigerian players, like everyone, look for fast processing times. Thus, they gravitate towards e-wallets.
These provide a quick and reliable way to transfer funds to and from your casino account. They also offer anonymity and simple sign up, which contributes to their popularity. However, e-wallet users may not be eligible for bonuses at some casinos.
Alternatively, you may also look into prepaid cards and mobile payment options for similar benefits. If you crave security, credit/debit cards are a good bet. Bitcoin is also gaining traction, as cryptocurrencies become more mainstream.
How we rate payment methods
LiveCasinoDeal is a transparent casino guide. Therefore, we inform our readers what we look for when evaluating a payment method. We do all the research, and then tell you what played a role in us reaching the conclusion that we did.
In our process, we apply years of experience using all possible payment options on a wide plethora of gaming sites. We assure you that we know what to look for, and we know what aspects are most important. The things we pay most attention to are:
- Payment Speed
The Best Payment Methods
No individual can try everything available on the market. Thus, it is incredibly useful to benefit from a guide complied by players that have spent years on gaming platforms, using all possible options to fund and remove money from their casino accounts.
Thankfully, Nigerian players have LiveCasinoDeal to fall back on, as we have an accumulated wealth of hard data and anecdotal evidence to share. On top of this, add to this our connections and long-industry standing, and it should be clear that we are a source that you should trust.
Credit and Debit Card
The main advantage of using a card option is that almost everyone has one. So, right of the bat, the method has convenience on its side. Security is another plus, as card companies are renowned financial service providers that use advanced technology when it comes to transactions.
Credit availability in many player’s eyes is both positive and negative. Nonetheless, true negatives include the fact that you are more likely to be susceptible to online fraud, slower withdrawal times, and the possibility that banks may reject online gambling transactions.
While many see it as an outdated method, that doesn’t mean that it doesn’t feature positive aspects that still make it viable.
Its security is probably some of the best, and as far as convenience goes, anyone with a bank account can use it. Most casinos accept it, and while it does likely have the worst withdrawal speeds, it doesn’t require players to set up another account to deposit funds with an online casino.
Many Nigerian players also like using instant fund transfer systems like EasyEFT and IMPS, at platforms that allow their use.
PayPal is an excellent choice for those that want to gamble responsibly, seeing as it can play the role of your casino bankroll, a home to your detailed transaction history.
It’s super-easy to set up, features anonymity, and some of the best transaction speeds in the business. It’s also a worldwide brand that has proven itself to be reliable, and many online casinos accept it as a payment option.
Some drawbacks include high transaction fees, the fact that it is not legal everywhere, and that it features customer support that leaves a lot to be desired.
If you are wondering why we mentioned e-wallets as a method that’s a cut above the rest, well reasons that lend to their popularity are wide-acceptance, simplicity via one-click transfers, added security, dedicated apps, and record keeping. There are a few more, but these are the top ones.
In essence, digital e-wallets reduce hassle and save time while keeping your identity hidden. External financial bodies regulate them, so they’re reliable, and in an age where mobile play is the norm, they seem like the way to go.
You may also know it as Moneybookers, or Skrill Moneybookers. Skrill a UK online payment system that is one of the most popular methods among Nigerian players.
It is tremendously easy to set up a Skrill account, and all user information remains on the company’s servers, while the casino receives payments through secure channels. Thanks to company policy, credit fraud is almost non-existent, and its withdrawal speeds are superior to most competitors.
Skrill does take commissions, and not all international banks cooperate with the service. That said, it’s one of the simplest methods for online transfer of funds.
Founded in 1999, in Canada, Neteller falls under the umbrella of the Paysafe Group, alongside former competitor Skrill. Today, it is available in 200 countries, including Nigeria.
To open a Neteller account, you need a valid email and to provide limited personal details, such as your name and address, password, and security questions.
It features many of the benefits of Skrill. Convenience, security, reliability, and speed. Some casinos may provide Neteller-specific bonuses, while others may make current ones unavailable for its users.
Choose the best payment method
We cannot list one method and claim that it is the best one. There is no such thing as one option that fits all users. The choice of what is best for you is subjective. Your preferences play a massive role, and so does your region.
All methods share similarities, yet they all feature aspects that make them different. Security is more-or-less guaranteed, with most, yet, privacy and speed vary tremendously. Therefore, here are a few elements that you should always factor in when considering which option is best for you.
You’ll rarely see a gaming site that doesn’t accept Euros, the Canadian and American dollars. Europe holds a good chunk of the online gambling market, so it stands to reason that most, if not all platforms, accept the Euro, as well as some other European currencies, such as the British Pound.
Yet, if you manage to find an online casino that accepts the Nigerian Naira, then you can avoid fees associated with currency exchange. It will make the whole process more convenient, especially given that exchange rates fluctuate.
While the payment methods themselves have no license from a financial organization or auditor, any decent online casino will have one. These add a layer of credibility, and most sites that Nigerian players select as their gaming home, have some Curacao license, or one from the Malta Gaming Authority.
These overseeing bodies regulate the casinos by implementing strict standards regarding payment procedures. They conduct audits to make sure no foul play is possible, and that the players have protection when it comes to the casinos handling their finances.
Apps for making casino payments
As soon as the smartphone hit the market, with it came dedicated software that simplified a whole range of complex activities, money transfers included. Nowadays, most payment providers feature an app you can install on your mobile device through the Google Play Store or the Apple Store.
Using apps in conjunction with your online casino makes the whole money transaction process simple. You can fund your casino account with a few taps on your mobile screen as you confirm transactions with your payment service made at your casino of choice.
Deposit Methods in Nigeria
If you are a newbie, depositing at an online casino may seem like a daunting task. However, do not fret. It isn’t any more complicated than online shopping. You get to choose from one of usually dozens of available methods, and the whole operation shouldn’t take more than a minute.
No player wants to be left hanging, waiting for their funds to land in their account so that they can play. Thankfully, nowadays, most options provide instant deposits. Still, this may not always be the case, so check carefully before picking one.
How do I make a deposit?
Open your account page and navigate to the banking tab. At most casinos, there will be a deposit button in the top right, in the upper navigation bar.
If you enter, either way, you’ll get to select your preferred method, and then follow steps specific to that method. These usually consist of entering your information, such as an email address, account number, and the like.
You’ll also have to enter your desired deposit amount, and you may need to confirm the transaction through your payment service. We are proponents of e-wallets, so we recommend using those.
Though, in theory, you can make casino withdrawals through most deposit methods, that doesn’t mean that online casinos allow players to use the same option for both. Usually, the number of withdrawal options is more limited than those available for deposits.
Furthermore, some casinos may limit you to withdraw funds through the same method you used for depositing. It is called a closed-loop policy, and it is in place to prevent money laundering.
Also, processing times for the same method will vary from casino to casino. Platforms manually approve withdrawals, and each has its time frame for this operation.
How do I make a withdrawal?
Withdrawals should be as easy as deposits. Again, you access the banking tab in your account profile and select the withdrawal option. Then you choose your preferred method, enter your desired amount, and all the required information.
Before clicking the withdrawal button, you should check the processing times, and after the signified period passes, you should check your account to see if the funds transferred over. If you’re using fiat currencies, e-wallet is your best choice, but if you know anything about cryptos, Bitcoin is something you should consider.
Which is the safest payment method?
In this day and age, if all the proper precautions are in place, Nigerian players shouldn’t worry about the safety of their transactions. All payment methods have stringent security protocols that protect all funds that go through them. Players should worry more about security issues on their end, rather than with the payment services they use.
Credit/debit cards use advanced transaction technology, and they can even reach out to card issuers and ask them to stop suspicious or unauthorized payment. E-wallets use two-factor authentication to protect against hackers. Thus, all methods are relatively safe.
What is the Usual Withdrawal Time of Winnings?
Withdrawals depend on your casino and your preferred method. The withdrawal times for the same option can be different at different casinos. However, some basic principles apply.
With e-wallets, transactions should happen instantly, once you submit your request. Within 24 hours, at the most. If you choose to use a card option, credit/debit, you’ll wait anywhere between two and five business days.
For bank transfer, you may have to wait up to seven or more business days to pass before you can get your winnings.
What is the processing time?
It is the time from when you submit a request to remove funds from your casino account, to the time when those funds land in your bank account. For the most part, it takes a couple of business days for this process to finish, during which, you can usually cancel your request at any time.
The casinos we list on our site are known for their fast withdrawals, which is also an indicator of the platform’s financial well-being. Thus we, try to feature as many casinos that provide instantaneous transfers as possible.
What security measures are taken?
In recent years, regulation has tightened, and most online casinos today have to comply with KYC regulation or Know-Your-Customer checks.
These are guidelines that require the platforms to verify the identity of their clients, and they fit within the broader scope of an anti-money laundering policy.
Players usually have to go through this before their first withdrawal, and the necessary documents may include a driver’s license, passport, ID, and a utility bill. The process minimizes the risk of money laundering and identity theft.