Online betting has surged in popularity in Tanzania, with bettors looking for fast, secure, and convenient ways to deposit and withdraw money. With a variety of options available, choosing the right payment system is crucial for a smooth betting experience. Here is a breakdown of the best payment systems for Tanzanian punters when using online bookmakers.
1. M-Pesa
- Overview: M-Pesa, operated by Vodacom, is the most widely used mobile money platform in Tanzania. It allows users to transfer money quickly via their mobile phones, making it an ideal choice for online betting.
- Why It’s Popular: Most Tanzanian bookmakers integrate M-Pesa due to its large user base and simplicity. Deposits and withdrawals are processed almost instantly, making it a reliable choice.
- How to Use:
- Visit the bookmaker’s deposit page.
- Select M-Pesa as the payment method.
- Enter the amount and follow the SMS prompts to confirm the transaction.
- Fees: Transaction fees vary depending on the amount being transferred.
2. Tigo Pesa
- Overview: Tigo Pesa is another mobile money service that is popular in Tanzania, operated by the telecom company Tigo. It functions similarly to M-Pesa and is widely accepted by local bookmakers.
- Why It’s Popular: For Tigo users, this option offers an easy and convenient way to manage deposits and withdrawals without needing a bank account.
- How to Use:
- Choose Tigo Pesa on the bookmaker’s payment page.
- Enter your mobile number and the amount you wish to deposit.
- Confirm the transaction via SMS.
- Fees: Fees are minimal and depend on the amount being transferred.
3. Airtel Money
- Overview: Airtel Money, provided by Airtel Tanzania, is another widely used mobile money platform. With a growing user base, more bookmakers are integrating Airtel Money as a payment option.
- Why It’s Popular: Airtel Money is a good alternative for punters who use Airtel for their mobile services. It’s fast, easy, and secure, with instant transaction processing.
- How to Use:
- Select Airtel Money as your preferred payment method.
- Enter your Airtel phone number and the deposit amount.
- Confirm the payment using the SMS code sent to your phone.
- Fees: Like other mobile money services, fees depend on the transaction amount but are generally low.
4. E-wallets (Skrill & Neteller)
- Overview: E-wallets such as Skrill and Neteller are becoming increasingly popular for online betting in Tanzania, especially for international bookmakers.
- Why It’s Popular: E-wallets provide a secure way to transfer funds without directly linking your bank account or mobile money account. They also support multiple currencies, making them ideal for punters betting on international platforms.
- How to Use:
- Create an account on Skrill or Neteller.
- Fund your e-wallet using local methods or a bank account.
- Use the e-wallet to deposit funds on your bookmaker’s platform.
- Fees: E-wallets may charge conversion fees when using foreign currencies, but generally offer low transaction fees.
5. Bank Transfers
- Overview: Direct bank transfers remain an option for some bettors, particularly those making larger deposits or withdrawals. However, this method is less popular due to slower processing times.
- Why It’s Popular: For punters who prefer to keep larger transactions within the banking system, this option offers a more traditional and secure way to handle funds.
- How to Use:
- Go to the bookmaker’s payment page and select Bank Transfer.
- Enter your bank details and the amount.
- The transfer may take a few business days to complete.
- Fees: Bank transfers may have higher fees, and they take longer to process compared to mobile money options.
6. Cryptocurrency (Bitcoin, Ethereum)
- Overview: Some international bookmakers now accept Bitcoin and other cryptocurrencies. While not as commonly used in Tanzania, crypto provides an anonymous and secure way to bet online.
- Why It’s Popular: For punters who are familiar with crypto, this payment option offers low fees, fast processing, and privacy. Cryptocurrency also allows you to avoid currency conversion issues.
- How to Use:
- Set up a cryptocurrency wallet.
- Purchase cryptocurrency from an exchange.
- Transfer the desired amount to the bookmaker’s crypto wallet address.
- Fees: Fees vary based on the blockchain network’s transaction costs but are generally lower than traditional payment methods.
7. Paysafecard
- Overview: Paysafecard is a prepaid card option accepted by some international bookmakers. It allows users to load money onto a prepaid card and use it for betting without needing a bank account.
- Why It’s Popular: This method is ideal for bettors who want to limit their spending or avoid sharing bank details online.
- How to Use:
- Purchase a Paysafecard from a local vendor.
- Enter the 16-digit code on the bookmaker’s payment page.
- Use the loaded funds to place bets.
- Fees: There are no additional fees for using Paysafecard, but you can only spend what is loaded onto the card.
Conclusion
There are a handful of payment options you can utilize in the Tanzanian betting market. Due to their convenience and popularity, M-Pesa, Tigo Pesa, and Airtel money are the most commonly used payment methods in the betting market, among Tanzanians. However, a good number of international betting platforms use e-wallets and cryptocurrencies, as methods of payment as they provide additional options for privacy. Moreover, e-wallets and cryptocurrencies have the advantage of allowing cross border payment. It is important to adjust the best payment system for you will determine what satisfies your betting lives such as speed of payment and the website.
