Online betting sites are very successful in Africa. In this regard, African gamblers have the same privileges as Westerners, but with some differences. Not all payment methods are functional in some states, which is a real hindrance for players. Fortunately, crypto-currencies are the best option, which is still unrestricted today.
Some punters are used to traditional payment methods such as bank transfers and credit/debit cards. However, using these usually causes problems with deposits or withdrawals.
Indeed, if you are using a card issued by a National Bank, it is essential to obtain its authorization before any exchange. In practical terms, the operation is likely to be a failure, as the laws and jurisdictions of African countries do not grant any credibility to bookmakers. As a result, your banker will be forced to refuse your sports betting transaction to stay within the national legislation.
In this kind of situation, the only valid option is cryptocurrency. Whether it's Bitcoin or other altcoins, digital currencies have the advantage of being decentralized. In other words, they are not under the control of a government or bank. So you can make sports bets in crypto currency without anyone refusing your transactions for any reason.
These stored Monero funds will serve you in the next steps of this procedure.
The slow processing of deposit and withdrawal requests is a real burden that reduces the enthusiasm of African bettors. This is especially evident when using traditional payment methods. On the other hand, operations with cryptocurrencies guarantee you transfers with impressive speed. Specifically, the processing time ranges from a few minutes to less than an hour. With a bank transfer or Visa card, it will take you anywhere from 24 hours to a week to receive your winnings.
Overall, it is impossible to bet without your transactions appearing on your credit card statement. In turn, your bank can intercept your bets and interrupt your intervention on sports betting sites.
Cryptocurrencies remove this barrier of control processes when you bet. In other words, you get an excellent level of anonymity by opting for this alternative. No one will be able to know when you deposit or withdraw money from a bookmaker, as no banking or personal information is transmitted to a third party.
It is an open secret that banking options involve relatively expensive service fees. Bank transfers are relatively more expensive and charge up to more than 30 euros per withdrawal. Fortunately, crypto assets are sensitive to this. On a withdrawal of $300 US dollars, cryptographic services usually take 1% from you, which is an amount of only $3. So it makes more sense to turn to these e-currencies in order to enjoy online betting, regardless of your city or country.
