The rapid spread of online sports betting to an international level has allowed new brands and sites to pop up like mushrooms after a rainstorm. We seem to be witnessing a shift from the traditional betting centres in Europe and the UK towards other, potentially fresh markets. This can be a good thing as far as competition goes. However, you have to be careful with these new betting sites. Though we love giving new bookmakers a chance to stand up to the big guys, it can be a risky business.
KonfamBet is a Nigerian online bookmaker that just opened up in 2020. According to their own info, they aim to combine knowledge of the local market with an internationally-oriented approach to business. In the long term, this could create exposure for Nigerian betting sites beyond the borders of the country.
KonfamBet – Bringing International Best Practices to the Nigerian Gaming Space
KonfamBet wears its Nigerian origins on its sleeve, and it’s clear that the first step they want to make is to build up a strong local following. Nigeria is easily the biggest market for sports betting on the African continent right now. Combined with the fact that Africa is an increasingly important market for betting in its own right, and we’d say that strategy makes sense.
Do not be fooled, however, KonfamBet’s ambitions are much higher than remaining on the local level. A single look at the KonfamBet betting site makes it clear that it's modelled after big industry names. It looks clear-cut and with a strong idea of branding. Based on our initial impressions, this bookie is gearing up to be a much more serious competitor than what’s common among local betting shops. That said, this KonfamBet bookmaker review will dig beyond first impressions to determine if the big names are worth turning down for this.
Considering we’re dealing with one of the youngest betting sites in 2021, there’s not much history to speak of. This is not a deal-breaker by any means but does present potential new customers with a problem. A lack of a reputation can be bad news for sports betting online. We simply don’t have a lot of user experiences to base our trust on. Navigating the waters of small bookies can be a minefield if you’re not careful, so this won’t sit well for a lot of punters.
However, a new bookie such as this does offer advantages. First of all, its African origins can provide local punters with offers they wouldn’t be able to find otherwise. On top of that, we’ll say it right out the gate – this is one of the best African bookmakers online. Secondly, taking a chance with a less-established brand comes with tailor-made customer service. If done right, the experience of small bookmakers makes you feel valued as a customer.
One last thing – the KonfamBet betting site also features other typical online gambling services. This includes an online casino, a sports betting jackpot, virtual sports, etc. This bookmaker rating will focus solely on the sports betting side of things, along with in-play betting offers. However, if these other aspects of the site interest you, you’ll have the option if you register with KonfamBet.
Licensing & Safety
This is probably the first place you’ll run into issues with this Nigerian sportsbook. Proper licensing is incredibly important for betting sites. However, most such bookies are licensed by one of a handful of respected international authorities. That way, most online players know that there’s a degree of safety in dealing with, say, UKGC license companies.
Being based in Nigeria, KonfamBet can’t rely on overseas licensing bodies or well-known authorities like in the United Kingdom. They need a local license – in this case, one issued by the Oyo State Gaming Board. To the uninitiated, Oyo is a large state within Nigeria. With a population that rivals most European countries, it’s the jurisdiction with the most defined online gambling laws and Konfam Bet’s base of operations.
On one hand, some form of licensing is better than none at all. On the other, most punters have never come across this gambling license, making it hard to trust – especially for those outside Nigeria. That said, some relatively influential local names have the same license, such as Nairabet and Bet9ja.
Of course, we have to note that this is not at all unusual even among the more well-known top online bookmakers. Some licenses we see all the time (Curacao comes to mind) have no more precedent than this one. The fact is, remote gambling licenses can offer a degree of safety to customers, but international users may not get all the benefits. As it stands, though, at least you know you’re dealing with a legal online bookmaker and that KonfamBet’s operations are legit. Nigerian residents are also sure to enjoy some protection as customers, though the extent of this is not all that clear.
As another consequence of the above, there are many restricted countries on Konfambet’s list. Sadly, their publically available information does not specify which countries’ residents may use the site and which can’t. Since we can’t test this for each state out there, be sure to check your eligibility with customer service if you decide to register with Konfambet.
Lastly, we should also briefly mention the security side of things. Konfambet is protected by standard bookmaker SSL encryption, keeping all transactions private. We have no real grounds to distrust this bookie’s stance on safety. It’s definitely among safe betting sites, though we’d need a longer track record to be certain.
Deposit and Withdrawals
You can’t bet on sports online without a bankroll, so let’s proceed with the KonfamBet payment options. Now, if you’re like us and are coming from the European betting scene, things may seem a bit strange here. The fact is, this online sportsbook relies on online payment methods that aren’t all that familiar to us. Sure, there are a few mainstays that should work regardless of where you’re from, but you should keep this in mind.
Let’s start with the banking methods themselves. Currently, players can get cash to and from the KonfamBet cashier via Visa, MasterCard, Interswitch, Paystack, Quickletter, and Verve. Nigerian and otherwise African customers may be familiar with these, but they’re new to everyone else. Additionally, bank transfers can be used for both withdrawals and deposits.
The good news is that KonfamBet is completely transparent about the various details about transactions. All methods have the same limits, the same transaction times, and are available to all customers. Consistency is a great thing if you want to be counted among the best online bookmakers, so we appreciate this.
Anyway, the minimum deposit on KonfamBet across all methods is ₦100. Deposits can go up to ₦500,000 and all are instant and free of any hidden fees or tariffs. All things considered, it’s a fair system, and it makes a lot of sense. Compared to some industry leaders whose limits are inconsistent and all over the place, this is commendable.
The withdrawals at KonfamBet are not much different either. The maximum withdrawal is also ₦500,000, while the minimum sits at ₦300. Again, none of the withdrawals come with fees, hidden or otherwise. All withdrawals are processed in up to 48 hours after the request, which is pretty much industry standard.
While there’s a lot to be said about KonfamBet’s honesty, there are some glaring issues with this implementation. If they ever hope to compete in the big leagues with the internationals, this is one of the main aspects of KonfamBet they’ll need to address. The payment methods won’t work for most people outside Nigeria. Also, the limits are stunningly low compared to most competitors. While it’s obvious this was done to fit the needs of the local market, it won’t do for international punters.
Lastly, the strangest obstacle is that international bank cards can’t be used for deposits. Only Nigerian debit cards can be used, and Naira seems to be the only accepted currency. While this is not out of the ordinary for local online sportsbooks, KonfamBet seems to market itself as an international betting site. Currently, betting on KonfamBet from outside of Nigeria seems to be impossible – or at least very difficult. Adding payment options like PayPal could go a long way in changing this.
All in all, we can single this site out as one of the best betting sites in Nigeria, which it is. However, internationally, they have a ways to go.
We briefly mentioned that personalised, effective customer service is one of the advantages of small bookies. Konfambet really decided to play to their strengths with this one, and it shows. The speed and politeness of their customer reps exceed even the best online sportsbooks. Coupled with several ways of contacting them and a comprehensive FAQ, we’re quite pleased with the results.
You can contact KonfamBet in any of the following ways:
24/7 Live Chat:a 24/7 service that seems to be the best way to get in touch with the company. The chat is available at all times in the lower-left corner of the screen.
Email Support:altogether slower, but just as reliable and easy as the live chat. Mail typically receives an answer in less than an hour. The KonfamBet contact e-mail is [email protected]
Telephone Support: The company also boasts several phone lines dedicated to customer service. You can call them at 09087867701, 09087867702, 09087867703, or 09087867704.
You can contact KonfamBet customer service in any of the above ways 24/7. That’s enviable working hours – but we suggest referring to the FAQ before asking any questions. IT answered quite a few of our queries during the writing of this KonfamBet betting site review. Konfambet also has a notable social media presence, which is a few more ways in which you can get in touch. Overall, we’re very happy with this side of the service for the KomfaBet Nigerian online sportsbook.
Market & Odds
Now that you’re familiar with how KonfamBet does business, it’s time to sink our teeth into the sportsbook itself. The overlay is rather familiar-looking and looks like some of the world’s best online sportsbooks. That means you’ll find all the different sports and categories to the left. The centre of the screen is initially reserved for highlights and top betting offers. IF you’re not yet sure what kind of bet you’re looking for, it’s a great place to start.
There are around 25 different sports on offer, which is quite strong for a bookie of this size. Most of the attention is on football, which makes sense considering how popular football betting in Nigeria is. However, the overall sports list is a bit strange compared to most top betting sites. There are definitely some interesting picks here, such as Alpine Skiing and Stock Car Racing.
On the flip side, crowd favourites like greyhounds and horse racing are unavailable. We’re guessing that’s a matter of local audiences, but it’s strange to see them lacking. Especially because of the presence of some extremely niche sports for betting, like the ones mentioned above.
As far as the markets are concerned, we’re downright impressed. Obviously, football is the biggest focus, with hundreds of various markets for large events. Premier League Betting in Nigeria is quite popular, so these matches are covered exceptionally well.
Other sports are satisfactory, but not to the same level. Still, we couldn’t find any obvious ommissions, which is impressive in its own right. Asian Handicaps are another highlight of the KonfamBet betting offer. The list of available point spreads is incredible, for one.
There are several other sports whose offers excel, though it’s a strange selection. The best offers we’ve found are for Table Tennis, Biathlon, and Rugby Union. We’re not sure if this tells us something about the Nigerian betting scene, but it’s noteworthy nonetheless.
The odds are quite strong, frankly, and are easily the best think about KonfamBet. We’ll go into more detail in the section on Margins below. For now, we’ll point at Football, Tennis, and Ice Hockey as examples of sports with the best betting odds in Nigeria. Even on an international level, these are quite competitive.
You can find this service in the Live Sports section, found on the top of the screen. Now, this part of KonfamBet is a bit of a mixed bag, though it’s still quite strong. On one hand, the coverage of international sporting events is more than respectable. We’re especially talking about some leagues and events you may not find on other top bookmakers. It’s especially great for betting on football in Africa, as it covers a lot of local leagues and competitions.
The overlay is also inspired by some big-name competitors such as BetWay. All in all, it wouldn’t hurt to have some more information available in the live feed. Live betting in Africa is still in its infancy, though, so we’re aware of some potential issues.
In-play betting at KonfamBet covers a fairly narrow selection of sports. Only 8 regular sports are available for live betting, though some additional sporting events are occasionally available. The markets are as varied as in the pre-match betting section. The odds, on the other hand, fall off a bit. This is common for live betting sites, but it’s quite noticeable on KonfamBet. We’ve seen some bookmaker margins triple during live betting events, which is quite steep by any measure.
KonfamBet Live Streaming Offer
Put bluntly, KonfamBet does not offer live match streaming at the time of the writing of this review. This did not come as a surprise to use – we are dealing with a relatively small, Nigerian bookmaker, after all. Still, some competitors do offer streaming on their sports betting platforms, which reflects poorly on this site.
To be frank, though, KonfamBet has other priorities to work on that are more pressing than streaming. If they do manage to secure broadcast rights at some point, though, it would be a great addition.
KonfamBet Bookmaker Margin
We’ve done some digging into this bookie’s Premier League betting odds and were quite stunned at the results. Large clashes occasionally have margins as low as 2.5% on 1X2 bets, for example. Less popular markets are not quite as strong, but still well below industry standards. Again, we’d like to highlight the offer of Asian Handicaps especially, which overshadows even some of the best online bookies in the world.
Other sports were not so fortunate, mind you. For example, margins on online basketball betting can rise up to an average of 5%. Different sports don’t seem to be a problem. However, small leagues and competitions are. The bookmaker margins when betting on football matches in 2nd tier leagues can go up to a whopping 10%. Again, this is common among top bookies, but it’s something you should keep in mind. Our advice is to calculate the margins on specific bets before making your decision. It can be annoying, but it’s the best way to deal with the inconsistencies.
If you’re looking for the best online sportsbooks in Nigeria, you’ve found your new home. With industry-topping betting odds thanks to incredibly low margins, we don’t see better options. We can easily extend this to mean one of the best betting sites in Africa, though non-Nigerian customers may run into trouble playing at KonfamBet.
That part of this whole deal is a bit baffling to us. It’s obvious KonfamBet wants to hit the big leagues – yet with their current banking options, that’s impossible. That said, they’ve been around for less than a year at the time of writing this review. The future may yet be exciting.
As far as everything else goes, this is quite a good little online sportsbook. The coverage of sports and events is more than comprehensive and the customer service is world-class. We’re even fans of the stripped-down design which avoids unnecessary clutter.
You can sign up for KonframBet today for a shot at the 4-step welcome bonus which increases your first few deposits by a total of 300%. In fact, KonfamBet promotions are incredibly lucrative right now because they’re still trying to establish a strong customer base. So far, they’ve even given away free bets for no deposit at all!
How to open an account at KonfamBet?
This KonfamBet welcome bonus is available for all new customers. All you have to do is go through the registration process. If you’ve never done that before, here’s a simple step-by-step guide to getting your hands on those KonfamBet free bets.
- Head over to konfambet.com using your internet browser of choice.
- Click the ‘Register’ button in the top right corner of the screen.
- Fill out the form using your phone number, e-mail address, and your desired password.
- Click register, and the initial process is complete. However, you’ll have more steps before you can bet online at KonfamBet.
- Firstly, head to your account screen and click the “personal” tab.
- Fill out the required fields using your name, date of birth, and billing address.
- Lastly, you’ll need to perform KYC verification. Just select the KYC tab of your account window and upload a scan or photo of your ID or passport.
KonfamBet Review FAQ
Is KonfamBet legit?
Absolutely! Konfambet is fully licensed by the Oyo State Gaming Board, making it a legal Nigerian online sportsbook.
Is there a KonfamBet betting app?
Yes, you can download the official Konfambet betting app from their official webpage. However, note that there is only a Konfambet app for Android – there are no versions for iOS.
What is the KonfamBet Jackpot?
The KonfamBet sports betting Jackpot allows you to compete for a large prize pool. The idea is to make several bets on several pre-made selections. Each bet has a buy-in, of course, and the goal is to get the most answers right. The winner walks away with the whole pot. Generally, these bets are either 8-selection accumulator bets or a few Correct Score wagers.
What is the KonfamBet Lite version?
The Lite version is simply a stripped-down version of the mobile site. It's intended for older devices or to save internet data.
What is the minimum withdrawal at Konfambet?
The minimum withdrawal at Konfambet is set at ₦300 regardless of your chosen payment method.