For the majority of betting sites, finding the most convenient way for their bettors to deposit and withdraw funds is their biggest headache. Luckily for Kenyan bettors, most betting sites in Kenya accept M-Pesa as a deposit method.
Well, it wasn’t always this easy in the beginning before the likes of Mpesa came in. It may be hard for you to imagine that right now but yeah, Sports betting existed way before Safaricom launched M-Pesa.
Having been in operation for slightly over a decade, M-Pesa has grown in leaps and bounds and consequently impacted the Kenyan economy in general. Looking at sports betting, they have no doubt contributed largely to their success not only in Kenya but other East African countries as well.
M-Pesa allows bettors to easily and quickly make payments online and is highly favored by several betting sites thanks to its ease of use and adaptability.
How to make online bets using M-Pesa
Once you have considered several online bookies and finally chosen a reputable online bookie, sign up for an account with the bookmaker by entering your basic personal information such as name, address, date of birth and email. In the cashier section should be information about the bookies M-Pesa business number.
To deposit money to your mobile M-Pesa account, you will need to visit an authorized M-Pesa retailer in real life. Inform the cashier how much money you want to deposit, give them your mobile number and make the payment using cash.
You can also fund your mobile M-Pesa account through a cash transfer from your bank account. You will then receive a reference number as confirmation of your mobile M-Pesa account having been funded.
The process for depositing your M-Pesa funds to online sports betting account will typically require you to;
- Bring up the M-Pesa menu on your mobile phone
- Select the option ‘pay bill’
- Enter the business number provided by the online bookie
- Enter your online betting account number or username
- Enter the amount you want to deposit into your online betting account, excluding commas
- Enter your M-Pesa PIN and then press send
Once your transaction is complete, you will receive an SMS as confirmation for the deposit. Log in to your online betting account and you will be able to see the money reflected on your betting account. You can then start placing real money bets right away.
M-Pesa Betting Advantages And Disadvantages
One of the biggest benefits of online betting with M-Pesa is that it guarantees you safe, secure and reliable online transfers. It is fair to say it’s an incredibly well-regulated payment method too.
All transactions are carried out using state-of-the-art encryption technology ensuring that personal details are safe and secure at all times. Besides, the payment method is funded using real cash outlets meaning players can enjoy the benefits of it without needing to have debit and credit cards or e-wallets.
The biggest downside to using M-Pesa for online betting is the fact that it is not free. There are transaction fees involved to use the payment method, where the fees increase as you make larger transfers.
Granted, there are also some betting sites in Kenya that do not accept M-Pesa, such as Bet365. This makes it more difficult for Kenyan players to learn how to use Bet365 in Kenya, but basically players who are interested in using such bookmakers must use other deposit options.
M-Pesa is one of the most convenient banking methods in Kenya today used by some of the best sports betting sites in the world. The service provides fast and simple transfer of funds directly using a mobile phone, making it extremely easy to make deposits and receive cashouts at any time of the day or night. And this is exactly what both bookmakers and punters are striving for.