Payment Methods For Online Betting Sites | 2018

Payment Methods For Online Betting Sites-Everything You Need To Know!

Having an easy way to manage your money at an online sportsbook is of detrimental value when choosing your bookmaker. Most bookmakers will present a wide range of banking methods to choose from, which is crucial in order to maintain a wide player base. Although you will have a good selection of deposit to choose from, almost without exception, the thing you should pay attention to are the withdrawal methods. The withdrawal methods are usually scarcer and the most common one is bank transfer. You should look for Neteller, Skrill or credit cards, because bank transfers come with prolonged processing times, meaning you will have to wait more to receive your money.

Here is a listing of online sportsbooks separated by payment methods, with corresponding symbols to the right signifying whether the method in question can be used for deposits, withdrawals or both.

What should you know about Payment Methods at Betting Sites?

Payment Methods

Logo Name Casino Deposit Count Casino Withdraw Count
AbaqoosAbaqoos60
AmexAmex30
ApplePayApplePay10
AstroPayAstroPay113
BACSBACS11
Bank WireBank Wire2333
BankLinkBankLink10
BitcoinBitcoin96
BokuBoku50
Boleto bancárioBoleto bancário62
BpayBpay10
ChequeCheque719
CitadelCitadel32
Click2payClick2pay54
ClickandBuyClickandBuy118
Cuenta de JugadorCuenta de Jugador10
DeltaDelta62
DineroMailDineroMail41
Diners ClubDiners Club122
DotpayDotpay20
eCardeCard20
EcheckEcheck21
EcocardEcocard54
ecoPayzecoPayz1412
eKontoeKonto40
EntropayEntropay2116
ePay.bgePay.bg10
EPSEPS151
EutellerEuteller102
ewireewire31
EZIPayEZIPay11
FlexePINFlexePIN10
GiropayGiropay163
iDealiDeal91
iDebitiDebit52
InstadebitInstadebit95
Instant BankInstant Bank10
InteracInterac11
InterCashInterCash11
LaserLaser52
LobanetLobanet11
MaestroMaestro3017
MasterCardMasterCard5438
Mister CashMister Cash20
Moneta.ruMoneta.ru74
MoneyPakMoneyPak10
MultibancoMultibanco61
NeosurfNeosurf40
NetellerNeteller4646
NordeaNordea61
PayLuckyPayLucky10
PayNearMePayNearMe10
PaypalPaypal2424
PaysafecardPaysafecard3614
PayUPayU10
Person to PersonPerson to Person11
PingitPingit22
Point of SalePoint of Sale11
PoliPoli72
PostePayPostePay20
Przelewy24Przelewy24101
Puggle PayPuggle Pay20
QIWI WalletQIWI Wallet124
SafetyPaySafetyPay31
SkrillSkrill4747
SofortSofort246
SoloSolo63
SporopaySporopay20
SwitchSwitch52
TelecheckTelecheck11
TeleIngresoTeleIngreso20
ToditocashToditocash71
Transferência BancáriaTransferência Bancária2934
TrustlyTrustly157
TrustPayTrustPay31
UkashUkash239
UseMyFundsUseMyFunds10
VisaVisa5650
Visa DebitVisa Debit3330
Visa ElectronVisa Electron3932
WebmoneyWebmoney116
Western UnionWestern Union64
Yandex MoneyYandex Money31
ZimplerZimpler21

Online Betting Sites: Main Payment Methods

When it comes to topping up or withdrawing money from your online betting account there are lots of options available. Some punters will be better suited by using credit or debit cards, but there are no shortage of alternatives. In this day and age there are a whole host of online bookmaker payment methods available to punters, and we outline the most popular payment methods below.

Payment Method

Deposit Time

Withdrawal Time

Debit Cards

Instant

1-3 Days

Credit Cards

Instant

1-3 days

Prepaid Cards

Instant

N/A

PayPal

Instant

Instant

Neteller

Instant

Instant

Skrill

Instant

Instant

Paysafecard

Instant

N/A

ApplePay

Instant

N/A

EcoPayz/EcoCard

Instant

24 Hours

Bank Transfer

1-3 Days

3-5 Days

Debit Cards

Perhaps the most commonly used methods for depositing and withdrawing cash from betting accounts are credit and debit cards. If you have a debit card you can use it to withdraw money from your own bank account via an ATM. You can also pay for goods and services with your debit card and most bookmakers accept debit cards.

The most widely used debit cards are Visa Debit, Maestro, Solo, MasterCard Debit and Visa Electron. When you deposit money when using a debit card the money is instantly transferred from your bank account to your online betting account. However, it usually takes a couple of days for withdrawals to process if you are using your debit card. Most bookies don’t charge a fee for debit card transactions, so this is a payment method that is well worth checking out.

Credit Cards

Credit cards are another popular payment method with punters for online betting sites. Unlike debit cards, credit cards are not linked directly to your bank account. Visa and Mastercard are the two most common credit card types, but a lot of bookmakers also accept American Express and Maestro. However, while credit card payments into your betting account are processed instantly, there are some drawbacks with credit cards when it comes to withdrawals.

If you are withdrawing money using your credit card you can only withdraw the amount that you initially deposited. So, if you do manage to place a winning wager you will have to use another method to withdraw excess cash, most commonly a bank transfer. Also, while bookmakers don’t usually charge a fee for topping up by credit card, the credit provider may apply fees so make sure to check what charges apply when you top up your betting account by credit card.

Prepaid Cards

Although credit cards and debit cards are by far the most common payment methods used by punters, prepaid cards have started to grow in popularity. You can now purchase prepaid cards from Mastercard or Visa and simply top up the card and then use it to deposit funds to your online betting account.

Another popular prepaid card is the Paysafecard, and you can purchase a Paysafecard in retail outlets around the UK. Paysafecards can be bought for £10, £25, £50 or £100. Once you’ve bought a voucher, simply log in to your betting account, enter the PIN and deposit the value of your Paysafecard into your account.

PayPal

Here at Sportsbetting24 we think that PayPal is one of the most convenient and safest ways to top up and withdraw money from your online bookmaker account. One of the main reasons we think PayPal is a payment method worth using is because of the speed of transactions. Both deposits and withdrawals are instant, so you can access any winnings straight away.

Another positive for PayPal is the fact that no bookmaker transactions will show on your bank account. Also, there are no fees when it comes to using PayPal for depositing or withdrawing cash to or from your online betting account. In our opinion, we think PayPal is an E-Wallet well worth considering, if your bookie accepts it. Below is a list of the top bookies that currently accept PayPal as a payment method.

Top Online Betting Sites That Accept PayPal

You must sign-up with Promo Code - ZSK200 | You must deposit £10 via debit/credit card or Paypal only | Other E-Wallet deposits will not count for this promotion | You must place a £10 single bet on any sportsbook market to qualify | Qualifying bets must be placed at odds of 1/5 (1.2) | Only bets placed and settled within the first 30 days of account opening qualify | Cashed Out and Voided bets do not qualify | Multiple bets are excluded and any single bets in multiple bets are also excluded (e.g Lucky 15) | Free bets are valid for 30 days.
18+. New Customers only. Min £10 stake on selected games. £10 Bonus 24x wagering req. £10 Free Spins (20p each). £10 Golden Chips (£1 each) selected games. Paypal/certain deposit types excl. All valid 30 days (bonus + winnings removed). T&Cs Apply.
18+,New Customers Only. Deposit via Credit/Debit card only and bet £/€5 @ odds 2.0+ within 7 days of registering; Cashed out bets excluded. Get 2x £/€10 free bets, valid for set types (1 @ odds 2.0+ or greater) & a £/€10 casino bonus, wagered 40x to withdraw; Bonuses expire in 7 days; Geographical restrictions apply. Click for T&Cs. 18+ begambleaware.org
18+ New UK+IRE customers. Paypal and certain deposit types and bet types excluded. Min £10 bet within 14 days of account reg at min odds 1/2 = 3 x £10 free bets. Free bets valid for 4 days on sports, stake not returned, restrictions apply. T&Cs apply.
Bonus Code
YSKA00
+ Info
New customers only. Available to residents of UK or Republic of Ireland. Open a new account using promo code YSKA00. If your qualifying bet is settled as a loser Paddy Power will refund you stake in CASH. Maximum refund is £/€10. Deposit a minimum of £/€10 using a Debit/Credit Card or PayPal. Deposits made with e-wallets including Skrill, Paysafe and Neteller will not count towards this promotion. Only Debit/Credit Cards and Paypal are eligible.
18+, New UK (and Northern Ireland) customers only | Only your first bet counts as a qualifying bet | A qualifying bet is a ‘real money’ stake of at least £10 placed on any sports markets | Minimum odds of Evens (2.0) | Free bets time limits apply | Free bet stakes not included in returns
18+ www.begambleaware.org Minimum deposit £10. You must wager your bonus money 3x to make it withdrawable at minimum odds of 1.40 (2/5) in Sportsbook, 25x for Casino. Bonus will expire after 30 days of opt-in. Further T&Cs Apply.
New UK & Ireland customers only. Min Deposit: £10. First deposit matched up to £30. 1 x wagering at odds of 1.75+ to unlock Free Bet. Credit Card, Debit Card & PayPal deposits only. Terms Apply

Other E-Wallets

PayPal is undoubtedly the most popular E-Wallet used by punters to deposit and withdraw cash to or from their betting account. However, more E-Wallets are emerging and a couple of companies have already made a big impact in this area. Some of the fastest growing E-Wallet services include Neteller, Skrill, EcoPayz, and Apple Pay. Find out more about these E-Wallet services below.

Neteller

This is a well known E-Wallet that was first created in Canada and now operates from the Isle Of Man. It is fully recognised as a financial online institution and it operates in a similar fashion to PayPal. Most bookies accept payments via Neteller, but you might miss out on a sign up bonus if you use it as some bookies do not award bonuses for Neteller deposits.

Skrill

Although Skrill might not be around as long as some of their rivals have been, plenty of punters still use Skrill to deposit money to their online betting account. Skrill used to be known as Moneybookers and they are owned by the same company as Neteller and Paysafecard. Again, Skrill works very similarly to PayPal and can be used for deposits and withdrawals. As with Neteller, deposits made via Skrill often do not count towards bonuses.

EcoPayz/EcoCard

For punters that are looking for a viable alternative to the above E-Wallets, EcoPayz is well worth a second look. The same services that are available from PayPal, Neteller and Skrill can be utilised with EcoPayz and you can also avail of prepaid card services too. Best of all, most Online Betting Sites have no restrictions on bonuses for punters using EcoPayz or EcoCards. This is a big positive and one of the main reasons why you should strongly consider using EcoPayz as your primary E-Wallet.

Apple Pay

If you are a user of an Apple mobile device you might be interested in the Apple Pay E-Wallet service. If you have an iPhone, iPad, Apple Watch or even an Apple Mac, you can use your Apple Wallet to deposit cash into your betting account with some bookmakers. There are no fees and the service is very secure as you do not need to enter your card details. Deposits are instant with ApplePay and it is a payment method well worth considering if you have an Apple device.

Other E-Wallets

 Although the aforementioned E-Wallets are some of the most popular on the market, bookies do accept payments via other E-Wallets. For example, William Hill accept a wide range of e-wallet payments, including Click2Pay, ClickandBuy, EntroPay, InstaDebit, WebMoney and Usemybank. As always, check to see which payment methods are accepted by your preferred bookmaker before you open an account.

Bank Transfers

Perhaps the simplest way to top up your online betting account is via bank transfer. Withdrawals can also be made via bank transfer too. Most bookies do not charge fees for bank transfer transactions, but some banks do apply charges, particularly if you are moving money between different countries and currencies.

Unfortunately, bank transfers are not instant and times can vary depending on what bank you use and which bookmaker you are using. Back in 2008 the Faster Payments Service (FPS) was introduced by some banks and if your bookie supports FPS payments can be processed within a couple of hours. Normally payments can take between 3-5 days to clear, so if your bookie supports FPS this payment method could be the perfect choice for you.

Western Union

One of the most famous money transferring systems on the planet, Western Union is a payment method that is accepted by many betting sites. However, the big downside to using Western Union to deposit/withdraw cash from your betting account are the fees that are involved.

 In comparison to the vast majority of payment methods, Western Union is the most expensive and we think E-Wallets or credit/debit cards are a much better option. If you are going to use Western Union as a payment method, it should only be used as a last resort due to the associated fees.  

Safest Online Betting Site Payment Methods

Security is always a big worry when transferring funds online. Data breaches have become increasingly common, and the last thing you need is for your financial details to fall into the wrong hands. If you use a debit card as your primary payment method there is always a risk that if your betting site is compromised and loses your details, your account could easily be emptied.

For this reason, we firmly believe that E-Wallets like PayPal, EcoPayz, Neteller and Skrill are the safest way to deposit or withdraw cash to or from your betting account. If you use these payment methods you don’t have to part with any card details, thus eliminating the chance of your details falling into the wrong hands. So, from a security perspective, our experts at Sportsbetting24 strongly recommend using one of the above mentioned E-Wallets as your primary payment method for online betting sites.

Online Betting Site Payment Methods FAQ

Which UK online betting sites accept PayPal?

As we outlined earlier, PayPal is one of the most convenient and secure payment methods for online betting sites. Loads of UK bookmakers now accept deposits and authorise withdrawals via PayPal. Some of the biggest names that accept payments via PayPal include the likes of BetVictor, William Hill, Paddy Power and Coral. So, if you are dead set on using PayPal as your primary payment method, those online betting sites are a good starting point.

Do online betting sites charge fees for deposits and withdrawals?

We are glad to report that the vast majority of online betting sites in the UK do not charge fees for depositing or withdrawing cash. However, some fees may be applied by your financial institution depending on the payment method you use. For example, bank transfers between different countries or currencies can incur fees, while Western Union also charge customers that use that service. Credit/debit cards and E-Wallets are usually exempt from fees so they are the most cost effective payment methods.

Can you withdraw money from a betting account using a credit card?

If you use a credit card like a Visa or Mastercard to top up your account, restrictions apply to how much you can withdraw. If you deposit £50 and manage to place a couple of winning bets that boost your balance to £300, you will only be able to withdraw the original £50 to your credit card. The remaining £250 must be withdrawn by using another payment method. With debit cards, you can withdraw the full amount in your account and it will go directly into your bank account.

What is the most secure payment method?

Although bookmakers put a large amount of security measures in place, sometimes breaches still occur. Before you open an account with an online betting site, you should always check out their security policy. If you want to minimise the risk of your financial details falling into the wrong hands, then E-Wallets like PayPal and Neteller are worth using as your main payment method. If you use debit or credit cards you have to give your bookie those details, and there is always a risk involved when you do that. No card details change hands when E-Wallets are used, so we think E-Wallets are the most secure payment method for online bookies.