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How much money do I need to start online betting in Nigeria?

23 January 2020

So you want to get into the wonderful world of online sports betting but aren't sure of how much money you will need to start? Well, the great news is that online sports betting does not cost much at all.

With as little as N50, you can start your sports betting adventure! Very cheap, you say? Exactly. Obviously, the more money you stake, the greater your potential winnings, but there have been numerous instances of Nigerians winning millions of naira with very small sums of money.

However, we strongly advise that you gamble responsibly. Yes, you can win big from sports betting, but a lot of it is very dependent on luck, which you obviously do not control. When you bet, make sure you only wager with an amount that you can afford to lose so that if your bet fails, it doesn't hit you hard financially and emotionally.

Sports betting should be fun and entertainment, and should not be seen as a means of getting rich.

You may want to consider having a monthly betting budget so that you can have a level of control over the amount of money you invest in sports betting. Once you have exhausted your budget for the month, stop betting until the next month begins. It may seem difficult, but it’s very possible.

Which betting site has the lowest minimum stake?

Different betting sites have different minimum stakes, below which your bets will not be accepted. The most common minimum stake in Nigeria is N100, while some bookmakers go as low as N30.

After reviewing the various bookmakers in Nigeria, we found that these two betting sites are among the most generous with their minimum stakes requirement:

  • 1xBet
  • NairaBET

1xBet: One of the biggest international betting sites

Start betting with just N30

Imagine being able to place a bet with just N30? This is exactly what you get in 1xBet!

1xBet is relatively new in the Nigerian market, but it has become one of the most widely visited sites by bettors in the country. One of the reasons for this is the extremely favourable minimum stake, which stands at just N30. So, if want to go into sports betting, but you do not have much money to spend, you should open an account with 1xBet.

1xBet has got many other great qualities, including an expansive sportsbook, which houses over 40 sports, and diverse betting options. The bookmaker also provides numerous deposit options, including ATP cards deposits and internet banking, making it very convenient to fund your 1xBet account.

1xBet enhances the betting experience with wonderful betting features like cash out, Bet Insurance and AdvanceBet, while you will also find many promotions to boost your chances of making some money on the site.

What's more? New customers are entitled to a grand welcome bonus worth 200% of their first deposits, subject to terms and conditions, and wagering requirements. However, note that to qualify for this welcome bonus, you must make a first deposit of N400.

Why not sign up with 1xBet today, grab this welcome bonus offer, and start betting with as little as N30? It doesn't get much better than that.


How can I make money from sports betting?

Well, there is no defined method of making money from sports betting. That major factor that determines the success of your bets is luck, which is out of your hands.

Having said that, there are several strategies that you can implement to boost your chances of winning.

One thing you can do is dedicate plenty of time to research and analysis of the teams and competitions you want to bet on. Do they score plenty of goals? Are they leaky in defence? Do they have a good or bad record against opponents?

Most betting sites have detailed stats pages to help you with your research.

Betting features like live betting and cash out also enhance your chances of making money from online betting. Live betting allows you bet on sporting events while they are still going on.

During live betting, you can see how the match is progressing, and make your betting decisions accordingly. The cash out option allows you to end your bets and take away some money while the events in the bet are still going on.

Again, we must stress that nothing is guaranteed in betting. Do not see betting as a means of getting rich. Learn to stop when you are no longer enjoying the adventure. When done properly and with the right intentions, betting can be so much fun and entertainment. It can also be financially rewarding- if you get lucky.

If you are ready to join in the fun, why not sign up with one of the betting sites we have recommended? Remember, you do not need a huge amount of money to start betting. N100 is often enough, while some betting sites allow you to bet with as little as N30!

Best Betting Sites in Nigeria

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  12. Best Betting Sites in Nigeria

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