Do you want to fund your online bookie account but don’t have or want to use a bank account? You can bet with MTN Mobile (MoMo) and do all your deposits and withdrawals without the use of a bank account right from your mobile phone. In Nigeria, mobile money is becoming a popular way of payment for betting.
The Central Bank of Nigeria has granted MTN’s MoMo payment service bank a licence in April 2022, allowing it to offer its services to online bookies.
Although not as well-established as in Kenya, it’s growing, and more Nigerian punters are using it as a form of payment. Mobile money is a digital service that allows users to send and receive money using their cell phones. Keep reading to find out how to deposit and withdraw using MoMo and what benefits and limits you can expect when using MTN Mobile sport betting sites.
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Making deposits and withdrawals using MTN Mobile is easy, but before we show you how to do that, you need to set up your MTN Mobile payment system. Firstly, you will need to download the MTN MoMo app to be able to bet with MTN Mobile.
You can download it from Google Play (Android), AppGallery (Huawei), or the App Store (iOS). Secondly, you need to ensure that the number you registered for MTN Mobile is the same number that’s listed on your online betting account.
You will also need to fund your MTN MoMo app either through your bank account or through an agent. You can locate an agent by dialling *223# from your mobile phone.
Different MTN Mobile sport betting sites may vary in their process, but only slightly, as the service is pretty straightforward regardless of where you are sending money. To deposit money into your bookmaker account, follow these steps.
MTN MoMo is free of charge on most bookie sites and very fast.
Withdrawing funds from your bookie account is just as simple as making a deposit. MTN Mobile sport betting sites may have slightly different step-by-step processes for MTN Mobile withdrawals. They all follow a similar procedure as the one listed below.
Your deposit may take up to 24 hours to reflect in your MTN MoMo account.
Since MTN Mobile offers bankless and cardless services, there are fewer limits than some other payment methods. The fact that MTN MoMo is also available across all mobile networks makes it accessible to all Nigerian punters.
There are fees attached to transactions to and from your MTN MoMo account. These fees depend on the type of payment you are doing and the amount of naira you are sending or receiving.
As far as deposit and withdrawal limits go, each bookie that allows Nigerian punters to bet with MTN Mobile sets its own limits and transaction fees.
The minimum deposit amount that MTN MoMo allows per transaction is ₦100. This could be higher or lower depending on how you are making the deposit and which bookmaker you are funding.
The maximum deposit limit on MTN Mobile is set by default at either ₦50,000 or ₦100,000, depending on which agent you use. This limit can also be increased by providing the requested documentation.
Transaction limits vary from bookie to bookie when it comes to withdrawing funds from your betting account. You will have to check with your preferred bookmaker on what their MTN MoMo withdrawal limits and fees are.
There are many reasons for Nigerian punters to bet with MTN Mobile Money. The MTN MoMo service was designed with Africans in mind and serves to provide its customers with convenient banking alternatives in both rural and urban areas. Here are some of the reasons we recommend that you try MTN Mobile to fund your bookmaker account.
You do not have to have any airtime or data to access and use the MTN MoMo mobile application.
You can deposit and withdraw money to and from your MTN Mobile app using a local agent instead of through a bank account if you like. There are agents in rural areas specifically where banks are scarce in Nigeria.
MTN MoMo is not restricted to MTN network users. Anybody on any network in Nigeria can use the MTN MoMo app and its features.
MTN Mobile is definitely beneficial for all Nigerian punters who don’t have a bank account or prefer to transact in cash. It’s also one of the easiest and most accessible ways to fund your betting account if you reside in a rural area that doesn’t have any nearby banks.
The fees are reasonable and the transaction times are competitive, with deposits being instant and withdrawals to the MTN MoMo app taking up to 24 hours. There are also USSD codes that you can use if you prefer not to use the MTN MoMo mobile application.
MTN Mobile is a popular payment method in Nigeria, so agents and banks that facilitate deposits and withdrawals are reasonably easy to find. The downside is that MTN Mobile is not yet widely accepted as a payment method in the international bookmaker market.
The transaction limits on MTN Mobile can start as low as ₦100 and are set at a default up to N100,000, but you can request to have this limit increased through MTN MoMo support by providing certain documentation.
Overall, MTN Mobile is a secure and easy-to-use payment method that’s only expected to grow in popularity throughout African countries.