Betting Payment Methods

betting payment methods

It’s not only about the odds and bonuses when it comes to picking a bookmaker. The online bookmaker experience is incomplete without a great selection of betting deposits and withdrawals. Therefore, we not only show you the payment methods we prefer, but we also offer a comprehensive list of payment providers available in the online sports betting market.

One of the most significant criteria we examine when assessing bookies is the variety of payment options available. Fortunately, depositing and withdrawing funds from a betting account in the United Kingdom is simple. Traditionalists can pay with a debit card or a bank transfer, but there are also faster options available which you may not be aware of.

Suppose you are unsure which betting payment options are best for you. We’ll go through the best betting payment choices available on UK betting sites. Each banking option has advantages and disadvantages, which we detail on this page. There are far too many payment options to list them all, but the most common ones found on all of the finest betting sites in 2021 are mentioned here.

It’s worth noting that some betting payment options are only available for deposits, so we highlight these for you and let you know what options are available. In addition, we aim to provide you with all of the information that set them apart, such as projected transaction times and costs, and where you can discover the operator with the best betting payment options.

Debit Cards

You can use your debit card with most, if not all, of the leading betting sites, as you do with many other online transactions. This solution is widely available, but it is also simple to implement because no additional setup is required.

If you’ve ever made an online purchase, you’re already familiar with debit cards. You fill out the necessary information, tell them how much money you want to deposit, confirm, and you’re done. The only true stipulation here is that you stick to the rules. The minimum deposit is usually £5, but the maximum might be tens of thousands of pounds and isn’t necessarily mentioned.

Visa

Visa is the most widely accepted payment method on the planet, and if you have a Visa debit card, it is one of the simplest and most convenient methods to fund your online betting account.

Deposits are quick and free, but some betting sites also provide instant withdrawals to Visa cards.

MasterCard

Along with Visa, MasterCard is the second most popular form of debit card, and the two cards offer many of the same benefits.

Almost all betting sites in the UK offer MasterCard as a deposit option; however, some do not allow MasterCard withdrawals.

Apple Pay

If you have an Apple mobile device, the Apple Pay eWallet service may interest you. You may use your Apple Wallet to deposit money into your betting account with select bookies if you have an iPhone, iPad, Apple Watch, or even an Apple Mac.

Security is enhanced using Touch, and Face ID is also included, as well as two-factor authentication. There are no deposit fees, and payments are quick and secure. The deposit limitations are likewise quite comparable to debit cards.

There are no charges, and the service is extremely secure because you do not have to input your credit card information. Apple Pay allows you to make quick deposits and is a payment option worth considering if you own an Apple device. Unfortunately, it cannot be used for withdrawals.

Google Pay

Google Pay, formerly known as Android Pay, is a cutting-edge mobile wallet that runs on a phone app, confirming the industry’s embrace of more and more portable technologies. The good news is that it’s straightforward to deposit cash with, and security features like fingerprint and retina scans make full use of app technology.

There are no hidden costs, and setting up Google Pay is as easy as installing the app and attaching it to a debit card.

Neteller

This is a well-known electronic wallet founded in Canada and is currently based on the Isle of Man. It is completely recognised as a financial online institution that functions similarly to PayPal.

One of the great things is that Neteller betting sites provide the best of both worlds for many individuals. Except for foreign transaction costs, which may reach 3.99 per cent, they typically keep their rates modest. In addition, NETELLER, like Skrill, offers a wonderful VIP program and the Net+ prepaid Mastercard.

Fast withdrawals making them an excellent choice for people who need to deposit and withdraw quickly. Their security is also top-notch, with state-of-the-art encryption, fingerprint ID, and a two-step verification system keeping them ahead of the competition.

Although most bookmakers accept Neteller payments, you may miss out on a signup bonus if you do so since certain bookies do not provide incentives for Neteller deposits.

Skrill

Skrill is a UK-based eWallet service that allows users to conduct transactions with a range of online retail services and online betting sites. It is one of the most popular payment methods on betting sites, making it the preferred betting payment method for many punters.

While Skrill betting sites may not have the same global appeal as PayPal, Skrill is widely accepted throughout European betting sites. To put it another way, if e-wallets are accessible, these are the two you’re most likely to encounter.

Setting up an account takes only a few minutes, and once validated, you may add money to your Skrill wallet using a debit card and then deposit and withdraw to betting sites.

Even though Skrill has not been around as long as some of its competitors, many punters still utilize it to fund their online betting accounts, Skrill was previously known as Moneybookers, and the same corporation owns it as Neteller and Paysafecard.

Skrill is similar to PayPal in that it may be used for both deposits and withdrawals. However, Skrill deposits, like Neteller deposits, do not always count toward bonuses.

It has several advantages, including the ability to transact in additional currencies and what many perceive to be greater customer service. Skrill also offers a prepaid Mastercard, 1-Tap, a fantastic app, and a VIP program, among other unique features. All of these advantages more than compensate for the fact that Skrill is ineligible for most bookmaker incentives.

PayPal

PayPal, the most common form of e-wallet globally, was originally solely recognized as eBay’s principal means of payment, but it can now be found almost anywhere. It’s one of the most often utilised alternative betting payment methods in all types of casinos and sportsbooks. For many people, it’s their first step away from traditional payment methods.

While rival eWallets are gaining traction in e-commerce and online betting, PayPal remains the clear leader in popularity and ease of use. Many bettors already have a PayPal account, but if you don’t, it’s simple to get one, and once it’s linked to your preferred betting site, transactions couldn’t be easier.

It has many advantages over other payment methods such as checks, bank transfers, and debit cards, including speedier withdrawal times. These can take up to 24 hours to process, but they can be done in as little as two hours. Another advantage of PayPal is that no betting transactions will appear on your bank account.

Additionally, there are no costs associated with utilising PayPal to deposit or withdraw money from your online betting account. Therefore, if your bookie offers PayPal, we believe it is an eWallet well worth investigating.

Boku

Betting with Boku is a unique payment method that allows you to deposit cash using only your smartphone. It’s a hybrid of the ease of e-wallets and the convenience of prepaid cards, allowing you to pay with your phone without having to log in to your bank. Instead, all you need is a phone number, and your purchases will be deducted from your monthly phone bill.

EcoPayz

EcoPayz is definitely worth a second look for punters seeking a credible alternative to the eWallets. EcoPayz offers all of the same services as PayPal, Neteller, and Skrill and prepaid card services.

EcoPayz has been operating since 2000 and is used in 173 countries across the world. While it may not be offered on many UK betting sites as other eWallets, it is still a reliable and popular alternative.

Their interface is sleek, fluid, and simple to navigate. If you can deposit on a betting site with ecoPayz, you will certainly be able to withdraw using the same method.

Best of all, most online betting companies do not impose bonus limitations on bettors who use EcoPayz or EcoCards. This is a significant benefit and one of the key reasons to select EcoPayz as your primary eWallet.

PaySafeCard

Paysafecard is a prepaid card service that allows you to buy a PIN that you may use to pay for services and items online. Paysafecard might be the ideal option for individuals who don’t want to link their payment method to the site but are also wary of cryptocurrency.

A Paysafecard PIN can be purchased in stores or online, and many betting sites allow it as a deposit option, making it quite handy.

While depositing using Paysafecard at betting sites is quick, simple, and anonymous, withdrawals will require a different payment method. It operates similarly to a ‘pay as you go’ card in that you pay in a shop and receive a 16-digit pin card that you can then use at any appropriate betting site for that amount of money.

Paysafecards are available in denominations of £10, £25, £50, and £100. Log in to your betting account, enter the PIN, and transfer the value of your Paysafecard into your account once you’ve purchased a voucher.

BitCoin

Bitcoin is one cryptocurrency that has begun to emerge on betting sites in recent years. Cryptocurrency has not yet fully penetrated the online betting world, but it may only be a matter of time before it does. Bitcoin is used enough however for our experts to pull together a list of the best bitcoin betting sites for you to consider.

The benefits of Bitcoin in terms of security and privacy are well-known, and it’s just good to have the choice if you have Bitcoin on hand. However, by their very nature, cryptocurrencies have a level of difficulty built into them when it comes to getting started. The betting limits, for example, vary greatly, but the procedure of utilising them on betting sites is fairly simple. They don’t yet provide the same degree of coverage as traditional payment types, but they’re on their way!

It is not always easy to obtain Bitcoins, but once you have one in your BTC wallet, it is quite simple to spend them on betting sites that take Bitcoin, which are few at the moment.

Bank Transfers

Bank transfers are an old-school and basic payment option that does exactly what it says on the label. There is no need for a middleman; input the necessary information, and your bank will complete the transaction.

Bank transfers are accepted by most bookmakers for both deposits and withdrawals, making it a secure way to use, especially when dealing with large quantities of money. This makes it excellent for big transfers, but it isn’t ideal if you need the transfer to happen immediately.

Although most bookmakers do not charge fees for bank transfers, certain banks may, especially if you are moving money between various countries and currencies.

Some UK banks launched the Faster Funds Service (FPS) in 2008, and if your bookie accepts FPS, payments can be completed in a matter of hours. However, payments usually take 3-5 days to settle, so if your bookie accepts FPS, this payment option might be ideal for you.

Western Union

Western Union is a payment option that is recognized by many betting sites. As a result, it is one of the most well-known money transfer services in the world. The fees associated with utilising Western Union to deposit/withdraw money from your betting account is, however, a significant disadvantage.

Western Union is the most expensive payment method compared to the great majority of other payment methods. We believe that eWallets or credit/debit cards are a far better alternative. Due to the accompanying costs, Western Union should only be used as a last option as a payment method.

Which Option Is The Safest?

When sending cash online, security is always a major concern. Data breaches are becoming more prevalent, and you don’t want your financial information to fall into the wrong hands. For example, if you use a debit card as your principal payment method, you run the danger of having your account emptied if your betting site is hacked and your information is stolen.

Never use a payment method that does not provide total security. This means you’ll be secured by cutting-edge security technology and anti-fraud safeguards.

If you want the highest levels of security, cryptocurrencies may be a good option because of their anonymity and increased safety, albeit they aren’t as readily available.

As a result, we feel that using eWallets like PayPal, EcoPayz, Neteller, or Skrill to deposit or withdraw money from your betting account is the safest option.

You don’t have to provide any card information if you use these payment methods, so there’s no risk of your information falling into the wrong hands. So, from a security standpoint, we highly advise utilising one of the eWallets listed above as your preferred payment option for online betting sites.