MerryBet Review

4.5 rating

Guess how much money MerryBet makes online

₦1.8B

In Net Profit

7.5M

Unique Bets Accepted

₦82.9M

In Net Profit

330.8K

Unique Bets Accepted

₦6.7M

In Net Profit

26.4K

Unique Bets Accepted

Merrybet Online Market share

Merrybet currently has 4.13% of the Nigerian casino market as of this writing. That number is growing and is apt to be somewhat higher by the time you read this.

There are several factors that affect the gambling industry in Nigeria. First, there is the fact that smartphones are such a large part of our lives here in Nigeria. While home computers, whether desktop or laptop, are not a realistic option for many Nigerians, mobiles have filled the need for internet connectivity and communication. They are more affordable, easier to use, and are with the user 24 hours a day.

With so many smartphones being sold, mobile app developers continue to strive to meet the specific needs of Nigerians – from financial transactions to weather to live streaming, social communications, and yes, betting and gambling. This leads to casinos – both brick and mortar as well as online only – expanding into dedicated branded apps in order to serve customers where we live, which is on our mobile platform.

merrybet home

Another factor is that, no matter is happening with the economy here in Nigeria, people have not slowed down their betting habits. As long as there are sports events – particularly football – we’re going to place our bets and watch the drama unfold. While British and Spanish leagues are a favorite, with so many matches worldwide, we’re finding more and more to bet on. And casinos and betting houses have started to offer more sports for wagering, from cricket to basketball and even ice hockey. With lots of live scores options on merrybet mobile platform, where you can watch the match as it happens and even bet on side events like next goal scored and next foul called, merrybet app have become one stop experiences for bettors.

And it’s not going to slow down anytime soon. More and more, younger people have come to see their smartphones as their primary means for entertainment – and that includes sports and sports wagering. With such a young and adventurous audience coming into their own, the gambling industry shows no signs of slowing down anytime soon.

Annual Online Profit

Merrybet’s online annual profits, as of this writing, are coming in at 503,3M as of the fiscal year 2018.

As a comparison, Seplat Petroleum, which as of 2017 had a profit of USD $41 million.

merrybet old

Number of Internet Players

With a market share of 4.13%, Merrybet welcomes 720K players. And we are excited to see this number rise in the future.

As we mentioned above, gambling is on the rise, whether it is via smartphone or other mobile device, or by walking into a local betting shop and placing a wager in person. Even with the poverty rates being what they are here in Nigeria, gambling seems to be an industry that is immune to economic fluctuations.

Gambling being so popular, the market is becoming quite crowded, which leads to more advertising campaigns launched by brick and mortar casinos as well as online betting houses. One can barely go through a day without seeing at least a few ads for casinos – print media, outdoor advertising, and even movie theater ads before the movie starts.

This can turn off some people, but for the overwhelming majority of the betting community, this only serves as a way to learn about newcomers to the industry, new offers and promotions, and better odds and payouts than ever.

However, we do want to advise that it is extremely important not to be taken in purely by advertising alone. Fly by night companies can crop up and are unscrupulous at best, fraudulent at worst. One bad actor can spoil the industry for someone who has been taken advantage of.

So we strongly recommend that customers do their due diligence and ensure that the casino they want to sign up with is licensed and complies with all the regulations of the Nigerian gambling industry.

merrybet markets

Licensing

Merrybet casino is licensed by the Lagos State Lotteries Board. The Lagos State Lotteries Board grants licenses to casinos that wish to serve Nigerian customers. With their policy of transparency, the effort on their part to earn the trust of the Nigerian population is impressive. They have raised their standards and gotten tougher with time, which is in the interest of all stakeholders.

The information that the Lotteries Board releases to the public include the status of suspended and rescinded licenses, including the reasons why. And other regulatory agenices across Nigeria have taken notice, updating their own data policies and promising to be more transparent. We are quite heartened to see this trend from these offices.

The Edo State Internal Revenue Service, for example, has been instrumental in leading the trend with much tougher policies for regulation. Anyone can check which casinos have licenses, which do not – an important thing to know if you’re thinking of signing up – and the Service also has been much stricter on taxing and profit reporting.

On a countrywide level, the National Lottery Regulatory Commission is another important stakeholder in the gambling industry. Casinos can have a state license, a national license, or both. But they should at least have one. With two licenses come twice the amount of fees, however, so it is not a common thing for casinos to have both licenses.

We are hoping that something can be done to make it more affordable for casinos to hold both licenses, as this only increases trust on the part of the customer. But again, we do highly recommend that customers check to ensure that the casino they are interested in holds at least one license.

Merrybet Welcome Bonus

Punters looking for an online casino that will give them money just for signing up should not come to Merrybet. The casino does not offer any matching cash on a player’s first deposit. That said, it does offer regular promotional offers throughout the year.

Upon betting at least five games in a week and ending up with a loss, Merrybet will refund that player’s losses up to 5%. This is not, however, automatic. The player has to go to the site to claim the losses back. This is easy to do, but also easy to forget. So players need to keep their eye on the ball.

One of their better deals is their referral bonus. Refer a friend to Merrybet. When they start making bets Merrybet will track them. The first time they have a loss Merrybet will give you up to 50% of what they lost. This is a great deal for players.

When you place a bet on accumulator with five or more results, if you lose just one of the results you may receive 5% cashback. This makes Merrybet a good place to go if players want to experiment with accumulator betting. At least players have that slight edge.

merrybet bonus

That said, the friend referral really is the way to go. Punters all have friends. And some of their friends may be really bad at gambling. And even if they are good they will eventually lose. Since you get 50% of their first loss you can wrack up a ton of money in your account just by referring several people. It is also a key factor in the growth of Merrybet. Not only will one player refer people, the people he or she refers will want that referral cash and will refer others.

One thing most players don’t know about but that can really help them is the inclusion of free play vouchers. To get them a player has to go to customer support and ask for them. If the player has been loyal to Merrybet, and played a lot, and referred friends, the odds are they will receive a free play voucher and be able to bet without using their own money.

All players must be at least 18 years of age to use Merrybet casino. To sign up it is necessary to provide your full name, date of birth, full address, username and password. To take out money, you will have to go through further identification verification. This generally involves sending them a copy of some kind of official identification.

Beyond that,all players have to agree to all of the terms and conditions laid out by Merrybet. Punters are told to click a box that they have read all of the terms and conditions and agree to them. They cannot place a bet before doing this. This applies to any updates to the terms and conditions. Punters are assumed to keep themselves up to date on the latest update to the terms and conditions.

Merrybet Mobile

People with smartphones can use Merrybet’s Android and iOS apps. This is in addition to betting on their home page on any internet connected laptop or desktop. Because cell phone usage is much higher than laptop usage in Nigeria, this is how most people access the Merrybet site. In fact, nearly all gambling operations that run in Nigeria do so through apps.

This is because most people don’t have home computers. Instead they access the Internet through their smartphones. The apps are easy to use and one of the main reasons Merrybet is an expanding company. Their apps for Apple and Android products make accessing Merrybet casino as easy as possible. While the desktop version has some additional features not on the apps, they are not crucial.

merrybet mobile

The apps allow nearly anyone with any mobile device to go to sign up, upload money, and place bets on Merrybet. Navigation is simple. Punters can easily find the sport or virtual sport they want to place a bet on. On both operating systems, there are the original and modern version of the apps.

The original is fine if it is what the player is used to. It is an easy to follow app. The modern version is slicker and more user friendly. But it can take a while to get used to if you are used to betting with the older app.

Merrybet History

Merrybet casino was launched in 2013. That’s when betting in Nigeria was first becoming big. Once launched, it quickly became a commonly used outlet. Some people use it as an alternative website when their regular casino isn’t offering the best odds, while other people use it as their main gambling site.

Merrybet is primarily a sports betting website. It has seen its number of users consistently grow. Most users are repeat users. It seems that once a bettor places one wager with Merrybet, they want to come back and bet again. This is perhaps due to the fact that Merrybet tries really hard to give players the best experience.

Merrybet is also licensed by the Lagos State Lottery Board. This means that players can trust Merrybet to give them the most honest experience possible. The Lagos State Lottery Board performs random checks on anyone they license to make sure they are still living up to the concept of fair play.

Merrybet uses the most up to date SSL encryption to make sure that players’ data is always secure. This is the highest level of personal security. It means customers can trust that their data is not going to be shared with anyone else. The designers are always integrating new up to date SSL protection to make sure that any information you give them is seen by the Merrybet site and nobody else. Punters are right to trust Merrybet.

No matter a player’s level of experience with sports betting, Merrybet has a site that anyone can navigate. You can bet in real time, make long term bets, and in some cases place a wager on virtual competitions. Merrybet runs their own lottery, which is called Lucky Six. But Merrybet does not offer any slots machines, table games or Live Casino. Also, please note that players can only make one bet per match. This is designed to prevent people from engaging in match manipulation.

merrybet deposit

Punters don’t need to have much money to wager at Merrybet. Their betting limits are some of the lowest in the industry. This is because Merrybet is doing their best to attract the Nigerian market, where we tend to have less disposable income. As Nigeria becomes more wealthy, Merrybet may raise those limits in the future. They do have some betting restrictions that don’t make sense to European or North American players. But Merrybet makes sense here in Nigeria, which is where it really matters.

The amount of sport one can wager on at Merrybet is truly astounding. Punters can place bets on all kinds of professional sports, from ice hockey to badminton, soccer, and rugby. In addition, all African leagues are covered, as are Nigerian divisions. And that’s not only for football. All African league sporting is represented in the bettable events offered at Merrybet.

One thing Merrybet doesn’t have is any betting on e-sports. That’s because video games are not really very popular in Nigeria. That being said, companies have noticed the opportunities of the Nigerian marketplace and are starting to make inroads. In a few years, e-sports may be the new thing for Nigerians to wager on.

Of course, players don’t have to bet on real sports at Merrybet. They can also make wagers on virtual sports. This is what Merrybet offers as the alternative to video slot machines and scratch cards. Instead you can bet against the random number generator on any number of virtual sporting matches.

Poker and bingo are also not represented at the Merrybet casino. Instead, players can play the Lucky 6 lottery. While the prizes are not huge, they are not bad. And the lottery is certified as honest. This means that just by getting a couple of numbers, players can win some money. You won’t become wealthy by playing Lucky 6, but you won’t become poor, either.

Punters can place their bets a variety of ways. Wire transfers, Visa and MasterCard, Perfect Money, and a provider called Interswitch are accepted at Merrybet. With Visa and MasterCard, you can use prepaid cards. Perfect Money is what most Nigerians use to bet with. E-wallets are not accepted. Depending on what you use to deposit your money, you may have to wait between 24 hours and 10 days before you are able to bet with it. Wire transfers take the longest amount of time.

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