Betting Sites With The Highest Odds In Nigeria

On this page we will provide you with all the information you need about the betting sites with the best betting odds in Nigeria. There is one thing that everyone wants to know: What are the betting odds like? This is one of the most important things for you to consider simply because this is what will affect the amount of your winnings in the long run. The Bookmaker sites will all offer you slightly different odds for the same events and you will obviously be better off choosing the bookmakers that offer the highest betting odds in Nigeria.

After you’ve read this article you will hopefully have some idea of who you should be placing your bets with. We have been helping bettors to find the best betting solutions for many, many, years. We have researched and checked all of the available information to find out the legal Nigerian bookmakers you should consider joining. 

List of Betting Sites With the Best Betting Odds: July 2022

Last updated: 01.7.2022

Good

No.

Betting Site

Margin

Bonus

2

nairabet

3,87 %

4

WGB

4,46 %

5

SportyBet

4,69 %

Bookmakers with the lowest soccer margins. The average margin is not more than 5%. In some markets, it can reach 1%.

Average

8

merrybet

5,11 %

16

Supabets

6,02 %

17

betPawa

6,12 %

18

ActionBet

6,2 %

Bookmakers with average soccer margins. The average margin is not more than 7%.

Poor

Bookmakers with the highest soccer margins. The average margin is more than 7% and can reach 9%.

Betting Site With The Highest Odds

Experienced bettors would agree that the odds are one of the most important criteria when it comes to choosing a bookmaker. The better the odds are, the more your potential winnings are going to be. You can choose from a wide range of bookmakers in our country and they all offer different odds for the same events. So let’s talk about the betting sites with the best betting odds.

We understand that it’s not easy to find the online bookmakers who offer the highest odds in Nigeria. That’s why we’ve done it for you. We’ve counted and analyzed the margin and we’ve chosen the best websites that offer super high odds.

What Are Betting Odds?

The “Odds” are represented as a number, and it shows the ratio by which you multiply your stake amount in the case that your bet wins. This is what betting odds mean. Odds which are lower than the probability of an event are not good value, but the closer the odds are to the real probability (also known as the “True Odds”) the better the value you are getting. As a rule you get lower odds on things which are likely to happen and higher odds on those events which are seen to be less likely. Odds are an indication of the probability of an event happening but they are not necessarily so, there are several other variables which can effect why the bookmakers set the odds that they do.

Odds on betting sites in Nigeria will vary for the same event because each bookmaker will have a different opinion on the probability and have other factors which will influence them. The odds contain the profit margin of bookmakers and each bookmaker varies in this regard. To explain what we mean by profit margin consider for example, in the case of a bookmaker who evaluates two results as being equally possible (50%/50%), the odds are supposed to be 2.00 and 2.00 respectively (also known as Evens). However, you will find it very unlikely that a bookmaker that will offer those odds. They will be something along the lines of 1.96 to 1.96 but may be lower, perhaps 1.90 to 1.90 if the bookmakers have a high profit margin.

It’s better to make bets on websites with as low a margin as possible. Doing this will mean that you can win more or at least lose more slowly in the long run. That’s why we present you betting sites with the best betting odds.

How Do the Odds Work?

The odds is what determines how much you are paid if your bet wins. It is the number that is used to multiply the stake amount of your bet. It can be represented via the following formula:

W = S * O, where

W — The amount of Winnings if your bet is successful

S — The amount you Stake on the bet

O — The Odds you get from the bookmaker

As a general rule the odds reflect the likelihood of the result happening:

Low odds — high likelihood

High odds — low likelihood

Let’s take an English Premier League game between West Ham and Norwich City as an example to see how the odds work.

English Premier League game example

English Premier League game example

Bet9ja offer the following odds:

  • West Ham to win — 1.28

  • The Draw — 5.8

  • Norwich to win — 10.75

You can see that the bookmaker believes that there is a good chance West Ham will win the game. For that reason the lowest odds are offered for this result. Meanwhile Bet9ja highly doubts that the game will end in Norwich winning which is why the odds are so much higher.

Let’s suppose that you would like to bet ₦1000 (₦ = Nigerian Nairas) on West Ham to win with the odds at 1.28. To see what the return will be we use the formula: ₦1000 x 1.28 =  ₦1280. This is how much you will get back if West Ham win. Now ₦1000 of that was yours to start remember so the profit is ₦280.

Should you bet ₦1000 on Norwich to win the odds are much higher at 10.75 so the return to you will be ₦1000 x 10.75 = ₦10,750. The same applies that your stake was ₦1000 to start so your profit on this bet is ₦9750.

Decimal Odds vs Fractional Odds

There are several ways to express the odds when you are online betting. The most common ones are Fractional and Decimal. We give you examples of both to show how you can calculate your potential winnings.

Fractional odds originate from the British bookmakers like bet365, Ladbrokes, William Hill, etc. They’re written as fractions (obviously!) so it looks like 4/1, 7/2, and so on.

The first number (numerator) indicates the amount of profit that will be made for each time you stake the second number (denominator).

For example, if the odds are at 6/4 it means that a bettor will get a profit of ₦6 for every ₦4 . that is staked.

Decimal (European) odds are displayed as the total return to you for every ₦1000 staked including that stake amount. They can look like 1.50, 2.45, 41, or anything at all BUT they can never be less than 1.

For example, the odds at 1.75 mean that a bettor will get a profit of ₦750 for every ₦1000 that is staked.

Betting Sites With The Highest Odds In Nigeria

Nigerian bookmakers can be similar in many ways, the deposit options, the betting markets, the accessibility, and it can be down to the odds alone to separate them. Some companies provide consistently good odds with a low margin across the board. Others do not. After our extensive research on this matter we bring to you the bookies with the best betting odds in Nigeria.

Top 3 Betting Sites With Highest Odds In Nigeria

#

Logo

Bookmaker

Offer

Min Bet

Website

1
1xbet

1xBet

First deposit bonus up to ₦100 000

₦30

2
N1bet

N1Bet

First deposit bonus up to ₦500 000

₦50

3
Betwinner

Betwinner

First deposit bonus up to ₦100 000

₦30

How the Bookmakers Set Their Odds and Why They Move

Bookmakers (A betting company can also be known as a Sportsbook) set the odds based primarily on the likelihood of an outcome. Here’s a simple example: In the African Nations Cup Algeria are playing Sierra Leone. Algeria are one of the better sides in the competition.

Africa Cup of Nations game example

Africa Cup of Nations game example

The bookmaker realizes that Algeria should win. This is why the odds for this game are the following:

  • Algeria to win — 1.118

  • Draw — 8.1.

  • Sierra Leone to win — 26.

The odds have several factors which affect them:

1

Evaluation. The example above demonstrates how the markets look initially after the bookmakers analyst have just evaluated the markets and now provide odds for the different betting options. This evaluation may change as time goes on and new information becomes available. For example, if there is news that Algeria will play this game without a key player the odds on Algeria to win will go up (as the possibility of them winning will go down). The knock on effect of this is that the odds on the other outcomes will decrease as those outcomes become more likely.

2

Betting trends. If bookmakers detect that a lot of bets are being placed on any one outcome then they will decrease the odds if the liability on this outcome is becoming too high. Bookmakers should always attempt to manage their liability so that no single outcome causes them to lose too much money, and in an ideal World they would actually profit no matter what (but this is not always possible). In order to manage their liabilities and in an attempt to create a round book with profit no matter what they will increase the odds on the outcomes where few bets have been placed in order to encourage more of those.

3

The bookmakers current “book”. Bookmakers always attempt to ensure that they will make a profit regardless of the outcome of an event. They can use the odds to do this by raising the odds on outcomes they currently have a large profit and reducing the odds on outcomes they have a large liability. This should attract new bets where they want them and discourage bets from where they already have too many.

Nigerian Betting Sites With The Highest Betting Odds

Many bookmakers in our country offer competitive odds today. They are equal to the international ones more often than not, especially when it comes to football. Nigerian bookmakers successfully compete, for example, with 1XBET which is an international website that legally operates in Nigeria. It is known to be a company that offers some of the best odds on almost every market. Below we present the list of the betting sites with the highest betting odds in Nigeria.

Nigerian Betting Sites With Best Odds

#

Logo

Bookmaker

Offer

Min Bet

Website

1
Nairabet

Nairabet

₦50

2
N1bet

N1Bet

First deposit bonus up to ₦500 000

₦50

3
Betwinner

Betwinner

First deposit bonus up to ₦100 000

₦30

Betting Sites With Best Football Betting Odds

Most Nigerian bettors prefer to bet online when betting on football. This is the most popular sport that has millions of fans across the world so it is relatively easy to find ones that offer high odds. The odds will be better on average when the margin is smaller.

For a number of reasons the margin given to the top football leagues that Nigerians are able to bet on (English Premier League, Serie A, La Liga) is pretty good at around 3%. Meanwhile it is around 5-7% for the leagues of less prestigious and less wagered on leagues (Dutch Eredivisie, Turkish Süper Lig).

Odds may be even worse for the most obscure leagues and tournaments which have the lowest level of bets placed on them. The table below shows the sites with the best odds. Sometimes bookmakers offer boosted betting odds for particular events.

Best Football Odds In Nigeria

#

Logo

Bookmaker

Offer

Min Bet

Website

1
1xbet

1xBet

First deposit bonus up to ₦100 000

₦30

2
N1bet

N1Bet

First deposit bonus up to ₦500 000

₦50

3
Betwinner

Betwinner

First deposit bonus up to ₦100 000

₦30

Best Basketball Betting Odds

Basketball is another one of the more popular sports for the Nigerian players.  NBA is the most popular tournament by quite some way. In common with football to place bets on basketball with high odds the websites mentioned above are the best place to look.

Best Live Betting Odds

When you make bets during a game (known as “live betting” or “in play betting”) then the odds will be different to the pre-match ones. There are reasons for that:

  • Margin.  As a game goes In-play the odds will generally get worse for a bettor due to increased margin. For example, if in the pre-match section chances were 1.95 to 1.95, in the in-play section can go as low as 1.92 to 1.92. This is a normal practice.
  • Events during a game. The events occurring during a game affect the odds and they move almost constantly. For example a 0-0 result might seem fairly unlikely just before kick off and be available at 10/1, however by half time if still 0-0 the odds will by now have dropped to closer to 3/1. If the match continues with no goals when there is just three minutes left the odds may be as low as ½. As time has gone on the odds have steadily gone down as that result has slowly been getting more and more likely.

Best Betting Odds in Nigeria FAQs

Which betting site has the best betting odds in Nigeria?

It is probably going to be 1XBET. The average margin is less than 3%. It is here that you can find the best odds for online sports betting in Nigeria. 1XBET offers tantalizing betting odds for EPL, NBA, NHL and some others.

What is the meaning of odds in betting?

Odds indicate the amount of money that a bettor can win for each ₦1 that is risked. The lower the odds are then generally higher the probability is that the bet will win. However because of the high chances of winning  the winnings should it happen won’t be high.

Which betting site has the highest football odds?

This is usually 1XBET. The margin for top football games is around 2.2-2.9%. There are few bookmakers that can compete with 1XBET in the football odds area in Nigeria and in many other countries.

Where do the bookmakers display odds for today?

To find the latest odds you can visit a bookmaker’s website and go to the «Sports» or «Live» section. In the first case you’ll see the odds for the upcoming events. In the second case you’ll see the odds for the games in real-time. You get to bet on an event you like most.

How to convert fractional odds to decimal?

There is a simple formula to convert fractional numbers to decimal ones without using a calculator. You need to divide numerator by denominator and add one to a number you get. For example: 9/5=(9/5)+1=2.80.

Why does one bookmaker have higher odds than another?

The first thing to consider is that bookmakers have different odds setting departments. An outcome may be evaluated as more probable by one bookmaker, meanwhile another one can consider it less probable.

Another thing is that odds are different depending on the bookmakers margin. For example, 1XBET offers 1.91 for Manchester United to win in the game versus Brentford. Bet9ja offers the same outcome with the odds at 1.85. The reason could be the higher margin of bet9ja. That’s why you’d better compare betting odds before starting to place stakes.