If you bet online and have ever used an eWallet facility, then you will certainly have some knowledge of Skrill. Previously known as MoneyBookers, this is one of the most common payment methods of its type and one that is widely used by operators across the net.
With Paypal’s restrictions on online gaming, many bookies rely on Skrill to widen their customer base but what are the important points that you need to know if you intend to use it?
Skrill Bookmakers List
You can find below an extensive directory of Skrill betting sites, bookmakers with Skrill as a deposit or withdrawal option in the cashier. Just pick one of them and you are guaranteed to be able to use your favourite online banking method.
Skrill Sign-Up Bonus Offers
A Skrill sign-up bonus is when a bookmaker accepting Skrill also offers a welcome bonus for deposits made by this payment option. Sometimes such a special Skrill bonus can be of better value than the regular welcome offer. This is due to lower processing costs for the betting sites when handling virtual payments compared to credit card processing fees.
It’s important to note that a number of bookmakers’ promotions, particularly those that involve a welcome bonus, will not be available if you deposit via Skrill or any other eWallet. This is almost certainly down to the fact that charges will be made to the Skrill bookie and they are reluctant to lose any money over and above that welcome deal.
Usually, the specific rules relating to this will be very prominently shown in any terms and conditions relating to the deal itself but if you are in any doubt, you should ask a customer services operator.
In addition, you may well find that there are minimum and maximum withdrawal limits when it comes to using Skrill bookmakers and on very rare occasions, an operator may place a charge for those who wish to use this facility. Once again, do check with Skrill bookmakers and ask customer services if you need any further clarification.
How Skrill Works
If you’ve ever used Paypal, Neteller or any other form of eWallet then you will be very familiar with the process by which Skrill carries out its business.
First you need to set up an account and this takes just a few minutes to put in some basic details but expect to provide some form of identity such as a passport or official driving license.
You can then add funds to your customer account via a number of methods. Bank transfers are typical but in the gaming industry, it’s very common to withdraw funds or pay for services via your Skrill account.
The company will then hold your account funds in place and this is done in a secure manner. Full details of Skrill’s security can be found on their website. Charges are made at both points so you will pay a small percentage whenever you receive a payment or make a withdrawal so once again, do check to see what rates apply at a specific time.
Skrill also issue a prepaid card subject to eligibility so you can withdraw cash or pay for services in the same way that you would with a debit card. Once again, be sure to check the applicable charges.
History of Skrill
Skrill was originally set up under its previous name of MoneyBookers in 2001 with a view to providing flexible and low cost international transfers. Growth was steady from that point onwards but real developments started to happen when MoneyBookers was purchased by the InvestCorp Group in 2007 for a figure believed to be in the region of 105 Million Euros.
The next significant move came in 2011, when the parent company announced that MoneyBookers would be rebranded and henceforth known as Skrill. By that stage, the provider had been named as the fastest growing private equity firm in the whole of the United Kingdom.
In the present day, Skrill provides a lot of financial services but it owes a lot of its success to the gambling industry where customers of Skrill bookmakers have such a flexible way of depositing to and withdrawing from their playing accounts.
The more flexibility that an operator can give us in terms of funding the better, and that’s why many are quick to use Skrill wherever possible. For the customer, it gives greater flexibility if you don’t want to keep using a debit or credit card and for the bookmaker themselves, having the payment provider on your roster simply opens up a much wider and more diverse customer base.