For those of us that like to take a gamble across online betting sites, it helps to have a little flexibility from our provider. That flexibility can come in many forms – it could mean a wide choice of markets and an extensive set of side bets or maybe we need a number of options to get in touch with customer service quickly and effectively. But it also helps if an operator provides a good selection of betting payment options. Not all of us want to use a bank account or credit card all the time and with so many other options out there, it’s good for a bookie’s customer base if a good selection of methods is offered.
Here is a guide to the best online betting payment methods.
Debit and Credit Cards
You should find that all bookmakers take credit and debit cards as a way to fund your account. Check the full list however as while all the major providers will be covered, there may be exclusions such as Amex who charge more to the operator at point of sale.
As a very general rule, transactions should be instant with no fees to pay but you should, of course, check this with the individual bookmaker’s terms and conditions, along with any minimum or maximum deposit / withdrawal limits.
Most operators provide bank transfer as an online gambling payment method and it’s an easy way to send money across and to receive it back. Do check on transfer times however as while most of the options here provide instead funding, this method can typically take between 2 and 5 business days.
There follows a list of eWallet providers, all of whom are represented at some level in the betting industry. An eWallet is not a bank in the sense that it is not authorised to lend money but it will store your funds in a safe and secure account.
Here are the most common providers from around the sportsbooks.
Paypal was formed in 1998 and has grown to become the most popular and most recognisable of all the eWallet facilities. It became part of the EBay group with which it had partnered extensively on the popular auction site and from that point, established retailers across the world started to offer it as a form of payment.
At one point, Paypal had full restrictions on payments for gambling services but that has been relaxed to an extent. It still isn’t a widespread feature on funding lists for most operators but what you will find is that the established brands, particularly those who have been trading since before the days of the internet, are allowed to offer this as a deposit and withdrawal facility. More and more new operators join the ranks of Paypal betting sites
If a bookmaker isn’t offering the services of Paypal then it’s likely that they will move along to the two eWallets that play the biggest role in the industry. The first of these is Skrill who were set up in 2001 as MoneyBookers to provide lost cost transfers between banks and individuals overseas.
In time, their flexible way of working was picked up by the sportsbook and casino operators and they are now common across the network. Skrill works identically to Paypal in the sense that it isn’t a bank but it will hold your funds securely for when you need to deposit to and withdraw from your various accounts.
For more information and a list of Bookmakers accepting Skrill please visit our Skrill bookmakers page.
Neteller is the second name on the eWallet list for most bookies and along with Skrill, they are something of a ‘must have’ for the majority of operators. Neteller was founded in Canada in 1999 and were very quick to recognise the growth of internet betting and the need to provide additional financial services.
Once again, this is an eWallet with no banking services but Neteller are one of the biggest providers to the gambling industry so if you are looking to sign up with a range of sportsbooks, it will be very useful to have this funding facility.
Also do check out our list of neteller betting sites for a complete selection.
Bitcoin is a cryptocurrency and it remains something of a mystery to the wider general public so retailers have also been a little slow to catch onto it. The same principle applies to the gambling industry so currently, a relatively low number of operators have chosen to accept it.
In contrast, some operators have set up in recent times as exclusively Bitcoin betting sites so you can only fund into your account if you use Bitcoin and have access to the Blockchain. It may take some years for the currency to get into the mainstream but the demand seems to be getting bigger so we should see more and more operators adopting Bitcoin in the near future.
You’ll see many other eWallets and transfer facilities listed from bookie to bookie but this is by far the most popular set of options. Others, such as moneta.ru may be specific to certain countries while others such as PaySafeCard are widespread, but not quite as well used as the eWallets that we have listed here.
If you have more than one account with a bookmaker, you’ll find that having a range of funding options gives you greater flexibility and access so consider your options and look into signing up with some additional payment providers.