Payment Methods for Online Betting

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 Payment Methods for Online Betting

Nowadays, with people searching for more and more options of online betting sites, there has been an increase in the number of betting payment options as well.

In today’s article, we’ll talk more about the options bettors will find at online bookmakers and how to make deposits with your favorite method.

With an increase in payment methods, it can often be difficult to choose which one is the best for your deposits and withdrawals. Therefore, it is important to look for as much information as possible about each option.

This is because the payment processing for online betting changes according to the method chosen. There are methods that have immediate processing time for deposits, such as cryptocurrencies, eWallets and even credit cards. On the other hand, there are options that can take up to 2 days for the deposit to enter your account, such as bank transfers.

If you are not a person who cares for processing time, you won’t mind waiting a little more in order to use your favorite payment method. However, not everyone likes to wait for days to be able to start betting. Because of that, usually the payment options with the lowest processing time are the most popular ones.

The same also happens for withdrawals. There are some methods taking a maximum of 24 hours, which usually are the favorites, while others can take up to 7 working days.

Therefore, it is important to know the specifications of each method available in bookmakers in order to choose the one that meets your needs. Or else, you may not be pleased with the bookmaker and even want to complain about it on the internet.

How to make payments to betting accounts

  1. Choose the Payment Method

    When choosing a bookmaker deposit method, focus on those you already know and are comfortable using. If you don’t enjoy using credit cards, you could go for eWallets or bank transfers. That’s why there is a good variety of methods available. Also always keep in mind that there is no perfect payment method, only the one that works best for you and your needs.

    Choose the Payment Method
  2. Check for fees

    Although most bookmakers do not charge fees for deposits, it may be that certain payment methods have small fees ranging from 2% to 5%. This may happen in some eWallets or even some cards. Because of that, remember to always check if there is any fee for your chosen method, so you don't get caught by surprise.

    Check for fees
  3. Processing time

    Some people don't like to wait too long to start betting, so it's important to keep an eye on the online betting payment processing time for each payment method. There are methods which take very little time, while other may take days to be available at your account. For those looking for speed, eWallets, cryptocurrencies, credit cards and prepaid cards are the best options.

    Processing time
  4. Go to the Payment Section

    With the chosen method, it's time to make your deposit. In order to do this, open the customer menu and look for the option "Payments" or "Deposit". By clicking on it, you will be redirected to the deposit page. In some bookmakers, you may also click on your balance - which is the amount of money you have - and you will be directly sent to the payment page.

    Go to the Payment Section
  5. Complete the Information

    Each payment method will ask for different information. Deposits from credit cards, for example, ask for your full name, card number, CVV and card expiration date. Payments with eWallets ask you to access your account on the chosen eWallet and then make the payment. Cryptocurrencies, on the other hand, give you a wallet number for you to send the deposit amount to.

    Complete the Information
  6. Choose the value

    After completing the personal information for your payment method, choose the amount you wish to deposit. Remember that each bookmaker and each method have different minimum values, and that you will need to make a deposit that respects this value. In most bookmakers, this amount is $10.

    Choose the value
  7. Confirm the Deposit

    This is the last step. With all the necessary information complete, and the deposit amount chosen, you can confirm the deposit by clicking the specific button on your payment page. Depending on the method chosen, wait just a few minutes and you can start betting.

    Confirm the Deposit

Betting Payment Methods

Online bookmakers are trying to offer options for the most diverse types of customers, thus being able to serve a wider range of people.

In the best bookmakers, you can find several sportsbook payment options. From common everyday methods, such as credit and debit cards, to those more focused on online activities, such as eWallets and cryptocurrencies.

Apart from that, there are also vouchers, prepaid cards and even bank transfers. However, these options are mostly available for deposits only.

Because of that, many bettors prefer to choose other methods, once it becomes easier to use the same method for both deposits and withdrawals. The main reason for that is that you can control your money better, having both actions on the same card or account.

Choose a payment provider

However, the important thing to keep in mind is that you must choose the method that is best for you. That’s one of the things that bookmakers took into account when they started offering more and more payment methods for their clients.

That way, they guarantee that their bettors  will certainly be able to find the method that suits them best for both making deposits and withdrawals.

Payment Methods at Betting Sites

Payment Methods at Betting Sites

When talking about bookmakers payment methods, it is important to know that you may not find all the options offered on their website in your country. This happens because there are several methods that are specific to certain regions around the world, or even only to a specific country. So even with the bookmaker showing that method on their main page, you won’t be able to use it depending on where you are.

M-Pesa, for example, is a payment method available for African countries, and many bookmakers offer it, especially those who offer service to countries like Kenya and Nigeria.

Another popular payment option around bookmakers is Boleto, which is a specific method for Brazilian bettors.

Also, there is Interac, which is a payment method only for Canadians.

All these methods may be displayed at the main page of the bookmaker’s website, or even at the payment section if you select the options “all payment methods”. However, you will not be able to use them if your account is not from that specific country or region. So it is always important to take that into consideration when looking for a bookmaker's payment methods.

Another important thing to keep in mind is that bookmakers are always trying not to charge fees for deposits and withdrawals, as they usually push away bettors. In order to continue not charging taxes for the deposits and withdrawals, they may prefer not to offer a certain payment method for your area due to extra fees. This usually happens with Paypal, a famous eWallet around the world. They charge fees in specific countries and because of that many bookmakers choose to not make them available in that area, even though they offer this payment method in other regions.

FAQ

? What is the best betting payment option in online bookmakers?
The answer will vary as each bettor may prefer a method. However, we recommend those with short processing times and that do not charge extra fees.
? Is it possible to bet with cryptocurrencies?
Yes. Bitcoin is the most famous one, but it’s possible to find other cryptocurrencies at online bookmakers.
? Can I choose different payment methods for deposits and withdrawals?
Most bookmakers ask you to choose the same method for both deposit and withdrawal. Unless the deposit method is not available for withdrawal.
? Are all online bookmaker payment methods available in any country?
No. Some payment methods are specific to certain countries, such as M-Pesa to African countries, or Boleto to Brazil.
? What is the minimum deposit on online bookmakers?
It will depend on the method chosen, however most of them will have a minimum deposit of $10.

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Adam Bloszko

Adam Bloszko

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Vadims Mikeļevičs

Vadims Mikeļevičs

Vadims Mikeļevičs is an e-sports and biathlon enthusiast with years of writing experience about games, sports, and bookmakers.