One of the tricks to convenient online sports betting is using the payment method that best suits your needs and your lifestyle. You can bet on teams to win when you are at home on computer, and by using your mobile device when you are out, so the banking mechanism you choose should support that freedom and flexibility.
On this page, you can learn about the most widely used payment methods accepted by the best brands in the industry.
Using Credit Cards For Betting
Credit cards such as Visa and MasterCard are one of the most popular payment methods. They are secure, and banks to do not charge additional fees if you use your card to make a deposit.
Instead, your deposit is charged to your card. The only interest you will need to pay is the regular interest on your balance brought forward. Deposits are processed instantly, although most sportsbooks charge a small fee for processing credit card deposits. Withdrawals usually take 3 to 5 days.
All About Web Wallets
As cybercriminals become savvier, more and more punters are looking for ways to make deposits for sports betting online without the need to submit card numbers or other sensitive data. One way of doing this is to use a web wallet or e-wallet such as Neteller, Skrill, or PayPal.
You will need to set up a web wallet at your preferred brand’s website, and then link it to your online banking profile. When it is all up and running, you can transfer money from your bank account into your web wallet. You can then use the wallet and its login details when making deposits at an online bookmaker. Deposits are processed instantly. Many sites offer web wallet withdrawals within 24 to 48 hours. Be aware that most web wallet services charge a fee for deposits and withdrawals.
How Prepaid Cards Work
Whether physical cards made of paper or plastic, or virtual ones, prepaid cards such as Paysafecard are exactly what the name says. Every card has a unique number and PIN number, and you can top it up with money at a registered vendor, whether land-based or online.
You can pay for the top-up using cash, a debit or credit card, or another accepted method. It is important to treat your card as you would treat banknotes. Some cards work using the code printed on them, which means that anyone who finds your card can use it. Deposits are processed instantly. Online bookmakers generally do not accept prepaid cards as a withdrawal method, so if you intend to use one, you will need to make sure that you also have a withdrawal method that works.
Using Cryptocurrency For Betting
More and more online sportsbooks are accepting Bitcoin and other cryptocurrencies as deposit and withdrawal methods. If you want to use a cryptocurrency for sports betting, you will first need to purchase some online at Coinbase.com or another website.
You then can transfer cryptocurrency to the sportsbook’s crypto wallet. Deposits are processed instantly, and withdrawals are processed within 24 hours.