While many forms of gambling are illegal in Nigeria, there are many betting websites that allow players from that country to play online. Not only are their online casinos available to Nigerians, but also online poker and bingo. Online gambling is not regulated in Nigeria. WILD WILD NUGGET Slot Machine Max Bet Bonuses Sumatran Storm Slot Machine Max Bet Bonus, slot machine free games max bet, live slot play at casinoCheck O. Online gambling in Nigeria is regulated by the National Lottery Regulatory Commission, with betting, bingo, online casino, lotteries, fantasy sports, and online poker all legal in the country. Join the best sports betting company in Nigeria today and enjoy high odds, welcome bonus, rebet, cash out, live betting etc. Open a BetKing online account.

Betting industry in Africa

In recent years, sports online gambling has become a large part of economy for many African countries. Though, till 1990’s, the industry was illegal, and there were just a few land-based casinos. Today, Nigeria and Kenya are thought to be the two main “epicenters” of bookmakers, operators and betters. Such kinds of sports like American football, soccer, rugby, boxing, horse racing and basketball are in great request to wager on. Some African players also bet on golf, baseball and tennis.

In the article, we are going to concentrate our attention on the best possible gambling sites for Nigeria. Check our further top-list!

1xBet as the best betting site

Nowadays, 1xBet is the biggest brand and a leading bookmaker. The website has a lot of benefits and options:

• high odds (according to the Reddit community, bets on NBA matches and soccer have higher odds than other bookmakers can offer);
• live streaming feature;
• more than 1 thousand events every day;
• free from danger deposits transactions;
• fast cash-out feature;
• system of different bonuses (Lucky Fridays, Double Wednesdays and much more);
• a huge list of e-payment systems, including WebMoney, PayPal, Visa, Skrill and so on;
• bets on local and international sports, online games (e-sports);
• digital currency exchange feature;
• bookmakers’ ranking and overview sections;
• user-friendly interface with great infrastructure and easy navigation;
• tips and instructions for newbies;
• about 40 languages are available;
• day-and-night user support;
• a wide diapason of sports markets (from tennis, hockey etc. to less popular like biathlon).

In addition to it, the 1xBet website now has applications for Android/iOS devices and Windows. For further information, proceed to the official website.

Bet9ja sports betting site

Bet9ja is one of Nigerian well-known online gambling sites. Though, it’s still developing and growing. The predominant features of the provider are the next:

• competitive odds;
• guaranteed welcoming bonuses (up to 100 thousand NGN);
• fast deposits;
• smooth withdrawals via bank transferring;
• support of live streams;
• convenient to use interface;
• a wide list of sports markets, including virtual sports;
• live casino (slot machines and table games);
• applications for other devices and optimization for them (for instance, there is a mobile lite version for older devices).

Among disadvantages, there is only a small amount of promotions. Besides, deposit paying methods are quite limited in comparison to 1xBet. For further information, proceed to the official Bet9ja website.

NairaBet for bets on football

Though NairaBet has a huge range of sports markets (from golf to horse racing, and even more), it’s believed to specialize on football matches. Presumably, it is due to the fact that during weekends betters not only from Africa, but from all over the world as well, wager on football mainly.

In our opinion, the NairaBet website itself is quite similar to Bet9ja. But it also have some outstanding features:

• well-structured and easy-in-use interface;
• easy navigation;
• option of multiple predictions on a single event;
• welcoming bonuses;
• reward system;
• money transferring from one account to another;
• deposit payment via United Bank of Africa, First Bank, FCMB and so on;
• options for both virtual and live betting;
• quick filter option for searching your favourite team;
• bet suggestion feature (based on your specific settings).

On the NairaBet website you can also find its own blog with the information on the latest updates, tips for new players and sports predictions.

22Bet Nigeria sports betting

As many other companies, 22Bet was established in 2007. Since then, it has been developing towards players’ needs. 22Bet has the following benefits:

• it accepts Nigerian Naira (no looses on conversions);
• live streaming feature;
• welcoming bonuses up to 50 thousand NGN and guaranteed betting points with the first deposit;
• convenient to use interface, absence of bright colors;
• simple navigation;
• transactions without bank commissions;
• live betting feature;
• immediate cash-out feature;
• around-the-clock user support.

For more information, visit the official 22Bet website.

BetWay bookmaker in Nigeria

The company holds license mainly in European countries, including Italy, Ireland, Germany and many others. But it is completely allowed and licensed in Nigeria as well.

This betting website has the undermentioned characteristics:

• similar to 1xBet, it has a broad array of online banking transfer methods (MasterCard, Visa, Maestro etc.);
• odds on football, cricket, rugby and many more (all in all, it covers about 100 sports markets, even e-sports);
• the highest odds in horse racing among other bookmakers;
• 24/7/365 user support;
• bets on domestic and international sports;
• deposit bonuses for newbies (up to 20 thousand NGN);
• 17 languages available;
• bonuses at online casino and card poker;
• in-play betting feature.

Unfortunately, the BetWay website does not support live streams. For that purpose, you need to install a mobile app for Android/iOS devices.

For more details, you can visit FAQ section on the official website.

Online gambling for Nigerian players with NetBet

NetBet is probably the oldest gambling company among all the others listed in the article. But it’s still popular and very reliable. The advantages are the next:

• regular offers and promotions;
• competitive odds;
• high-quality graphics during streams;
• predictions on every event;
• bets not only on sports, but also lottery and casino games, poker tournaments and e-sports;
• easy-in-use interface, simple navigation (dark background highlights all the important information);
• system of various bets (solo/combo bets, betting with 3 to 8 selections, day-to-day free bets and more);
• it has tips and instructions for the beginners;
• language setting option;
• applications for Android and iOS devices, desktop version.

Among disadvantages, there is no user support on a round-the-clock basis. For more information, visit the official NetBet website.

Bet365 as one of the largest betting site

Today, the number of Bet365 customers is over 40 million people from all over the world. It is completely allowed and licensed in Nigeria and other African countries. In the same manner as other gambling websites do, Bet365 has its own notable features:

• guaranteed welcoming bonus;
• easy-in-use interface;
• live streaming feature;
• immediate encashment feature;
• in-game betting option;
• online casino with a huge amount of casino games;
• various paying methods, including Skrill, Bank Wire etc.;
• large sportsbook;
• available on Android and iOS devices.

Unfortunately, Bet365 does not accept NGN currency, so keep in mind that you will have to transfer deposits in US dollars. The best way to do that is using ATM cards.

BetWinner for bets on NBA matches

As NairaBet specializes on football (as it’s believed), BetWinner has the best offers for basketball lovers. Though, it’s a relatively new online gambling provider.

The benefits of the website are as follows:

• easy navigation, satisfying design;
• applications for mobile platforms;
• thousand sporting events everyday;
• live streams (but with poor graphics);
• 50 languages available;
• a broad array of sports markets (including less popular like triathlon, snooker, water polo, bandy and others);
• live sports betting option;
• live casino, card game poker, TV games and bingo are available as well.

If you still have some questions about BetWinner, you can visit its FAQ section on the official website.

Ladbrokes betting bookmaker

During the last two decades, Nigeria has become one of the Ladbrokes “sister” subsidiaries in Africa. The website operator can offer the next:

• sportsbook includes various sports leagues, TV shows and even music to wager on;
• guaranteed full cashback from the first deposit;
• 10% cashback on losses (only from Monday to Thursday);
• a broad variety of payment options;
• reliable software and Android/iOS apps.

Among disadvantages, there are slow withdrawals. Sometimes, it may take you three work days to get your money.

For more information, visit the official Ladbrokes website.

The closing of our best betting top-list – 360Bet

360Bet has been operating since 2017. Still, it has managed to get shortlisted as one of betting providers with odds quality of more than 90%.

The 360Bet website has the following advantages:

• it accepts Nigerian Naira;
• it’s available on desktop and smartphones (even on Windows Phone);
• regularly updated offers and promotional events;
• fast withdrawals;
• user support through email and hot-line;
• beforehand and in-game betting feature.

We also want to notify you that you can not wager on American football through this gambling provider, but you can still bet on soccer. For further information, please, proceed to the 360Bet website.

A martingale is any of a class of betting strategies that originated from and were popular in 18th-century France. The simplest of these strategies was designed for a game in which the gambler wins the stake if a coin comes up heads and loses if it comes up tails. The strategy had the gambler double the bet after every loss, so that the first win would recover all previous losses plus win a profit equal to the original stake.

Since a gambler will almost surely eventually flip heads, the martingale betting strategy is certain to make money for the gambler provided they have infinite wealth and there is no limit on money earned in a single bet. However, no gambler possess infinite wealth, and the exponential growth of the bets can bankrupt unlucky gamblers who chose to use the martingale, causing a catastrophic loss. Despite the fact that the gambler usually wins a small net reward, thus appearing to have a sound strategy, the gambler's expected value remains zero because the small probability that the gambler will suffer a catastrophic loss exactly balances with the expected gain. In a casino, the expected value is negative, due to the house's edge. Additionally, as the likelihood of a string of consecutive losses occurs more often than common intuition suggests, martingale strategies can bankrupt a gambler quickly.

The martingale strategy has also been applied to roulette, as the probability of hitting either red or black is close to 50%.

Intuitive analysis[edit]

The fundamental reason why all martingale-type betting systems fail is that no amount of information about the results of past bets can be used to predict the results of a future bet with accuracy better than chance. In mathematical terminology, this corresponds to the assumption that the win-loss outcomes of each bet are independent and identically distributed random variables, an assumption which is valid in many realistic situations. It follows from this assumption that the expected value of a series of bets is equal to the sum, over all bets that could potentially occur in the series, of the expected value of a potential bet times the probability that the player will make that bet. In most casino games, the expected value of any individual bet is negative, so the sum of many negative numbers will also always be negative.

The martingale strategy fails even with unbounded stopping time, as long as there is a limit on earnings or on the bets (which is also true in practice).^[1] It is only with unbounded wealth, bets and time that it could be argued that the martingale becomes a winning strategy.

Mathematical analysis[edit]

The impossibility of winning over the long run, given a limit of the size of bets or a limit in the size of one's bankroll or line of credit, is proven by the optional stopping theorem.^[1]

However, without these limits, the martingale betting strategy is certain to make money for the gambler because the chance of at least one coin flip coming up heads approaches one as the number of coin flips approaches infinity.

Mathematical analysis of a single round[edit]

Let one round be defined as a sequence of consecutive losses followed by either a win, or bankruptcy of the gambler. After a win, the gambler 'resets' and is considered to have started a new round. A continuous sequence of martingale bets can thus be partitioned into a sequence of independent rounds. Following is an analysis of the expected value of one round.

Let q be the probability of losing (e.g. for American double-zero roulette, it is 20/38 for a bet on black or red). Let B be the amount of the initial bet. Let n be the finite number of bets the gambler can afford to lose.

The probability that the gambler will lose all n bets is qⁿ. When all bets lose, the total loss is

${\displaystyle \sum _{i=1}^{n}B\cdot 2^{i-1}=B(2^n-1)}$

The probability the gambler does not lose all n bets is 1 − qⁿ. In all other cases, the gambler wins the initial bet (B.) Thus, the expected profit per round is

${\displaystyle (1-q^n)\cdot B-q^n\cdot B(2^n-1)=B(1-(2q{)}^n)}$

Whenever q > 1/2, the expression 1 − (2q)ⁿ < 0 for all n > 0. Thus, for all games where a gambler is more likely to lose than to win any given bet, that gambler is expected to lose money, on average, each round. Increasing the size of wager for each round per the martingale system only serves to increase the average loss.

Suppose a gambler has a 63 unit gambling bankroll. The gambler might bet 1 unit on the first spin. On each loss, the bet is doubled. Thus, taking k as the number of preceding consecutive losses, the player will always bet 2^k units.

With a win on any given spin, the gambler will net 1 unit over the total amount wagered to that point. Once this win is achieved, the gambler restarts the system with a 1 unit bet.

With losses on all of the first six spins, the gambler loses a total of 63 units. This exhausts the bankroll and the martingale cannot be continued.

In this example, the probability of losing the entire bankroll and being unable to continue the martingale is equal to the probability of 6 consecutive losses: (10/19)⁶ = 2.1256%. The probability of winning is equal to 1 minus the probability of losing 6 times: 1 − (10/19)⁶ = 97.8744%.

The expected amount won is (1 × 0.978744) = 0.978744.
The expected amount lost is (63 × 0.021256)= 1.339118.
Thus, the total expected value for each application of the betting system is (0.978744 − 1.339118) = −0.360374 .

In a unique circumstance, this strategy can make sense. Suppose the gambler possesses exactly 63 units but desperately needs a total of 64. Assuming q > 1/2 (it is a real casino) and he may only place bets at even odds, his best strategy is bold play: at each spin, he should bet the smallest amount such that if he wins he reaches his target immediately, and if he doesn't have enough for this, he should simply bet everything. Eventually he either goes bust or reaches his target. This strategy gives him a probability of 97.8744% of achieving the goal of winning one unit vs. a 2.1256% chance of losing all 63 units, and that is the best probability possible in this circumstance.^[2] However, bold play is not always the optimal strategy for having the biggest possible chance to increase an initial capital to some desired higher amount. If the gambler can bet arbitrarily small amounts at arbitrarily long odds (but still with the same expected loss of 10/19 of the stake at each bet), and can only place one bet at each spin, then there are strategies with above 98% chance of attaining his goal, and these use very timid play unless the gambler is close to losing all his capital, in which case he does switch to extremely bold play.^[3]

Alternative mathematical analysis[edit]

The previous analysis calculates expected value, but we can ask another question: what is the chance that one can play a casino game using the martingale strategy, and avoid the losing streak long enough to double one's bankroll.

As before, this depends on the likelihood of losing 6 roulette spins in a row assuming we are betting red/black or even/odd. Many gamblers believe that the chances of losing 6 in a row are remote, and that with a patient adherence to the strategy they will slowly increase their bankroll.

In reality, the odds of a streak of 6 losses in a row are much higher than many people intuitively believe. Psychological studies have shown that since people know that the odds of losing 6 times in a row out of 6 plays are low, they incorrectly assume that in a longer string of plays the odds are also very low. When people are asked to invent data representing 200 coin tosses, they often do not add streaks of more than 5 because they believe that these streaks are very unlikely.^[4] This intuitive belief is sometimes referred to as the representativeness heuristic.

Anti-martingale[edit]

In a classic martingale betting style, gamblers increase bets after each loss in hopes that an eventual win will recover all previous losses. The anti-martingale approach, also known as the reverse martingale, instead increases bets after wins, while reducing them after a loss. The perception is that the gambler will benefit from a winning streak or a 'hot hand', while reducing losses while 'cold' or otherwise having a losing streak. As the single bets are independent from each other (and from the gambler's expectations), the concept of winning 'streaks' is merely an example of gambler's fallacy, and the anti-martingale strategy fails to make any money. If on the other hand, real-life stock returns are serially correlated (for instance due to economic cycles and delayed reaction to news of larger market participants), 'streaks' of wins or losses do happen more often and are longer than those under a purely random process, the anti-martingale strategy could theoretically apply and can be used in trading systems (as trend-following or 'doubling up'). (But see also dollar cost averaging.)

See also[edit]

Betting Bingo Ng Tanghalan

References[edit]

1. ^ ^abMichael Mitzenmacher; Eli Upfal (2005), Probability and computing: randomized algorithms and probabilistic analysis, Cambridge University Press, p. 298, ISBN978-0-521-83540-4, archived from the original on October 13, 2015
2. ^Lester E. Dubins; Leonard J. Savage (1965), How to gamble if you must: inequalities for stochastic processes, McGraw Hill
3. ^Larry Shepp (2006), Bold play and the optimal policy for Vardi's casino, pp 150–156 in: Random Walk, Sequential Analysis and Related Topics, World Scientific
4. ^Martin, Frank A. (February 2009). 'What were the Odds of Having Such a Terrible Streak at the Casino?'(PDF). WizardOfOdds.com. Retrieved 31 March 2012.

Betting Bingo Ng Pilipinas