Why use Online Payment Providers for Sports Betting Deposits? BEST METHODS DISCUSSED

Will I Be Excluded From Bookmaker Offers If I Use Online Payment Providers?

Many online bookmakers exclude customers who use online payment providers from their sign up offers, this is because of bonus abuse. 

Online Payment Providers add an extra layer of anonymity to a customer and in some cases could help single customers open multiple accounts with the same bookmaker to take advantage of a new customer bookmaker offer.

If you want to keep the majority of your gambling transactions private (not shown on your bank statement) but don't mind some deposits going straight from your bank account to a bookmaker you could use your debit or credit card to make your initial deposit with a bookmaker before taking advantage of the sign up offer. 

Then once you have obtained the sign-up offer with the bookmaker you could then change your deposit method to your choice of the online payment provider. 

Any winnings from your initial deposit (from your debit/credit card) will still need to be withdrawn to the same source as the funds were deposited from but after that everything can be kept through the online payment provider. 


Why use an online payment method for depositing with a bookmaker?

In the UK, using credit or debit cards is the most common way to deposit with a bookmaker. 

But what if you don't have a credit or debit card or don't want to use one? What is the best way to deposit and withdraw from your online betting accounts?

Some sports bettors like to keep their betting money separate from their other money. 


Why use an online payment method


This is sensible and instead of opening a separate bank account, you can do this through an online payment provider.

Faster Withdrawals

Withdrawals can often be much faster using online payment providers and you can get access to your cleared funds more quickly.

If you bet with several bookmakers you may want to make lots of transactions, moving your money around the different bookmakers regularly. Fast and quick access to your money is important for this.


How to avoid gambling transactions on your bank statement 

OLBG members have also suggested that they dont want lots of gambling transactions on their bank account or credit card statements. Maybe this wont be looked at favourably when asking to be considered for a mortgage or loan?


How to avoid gambling transactions on your bank statement

What is the safest way to deposit and withdraw from an online bookmaker?

Financial security is another reason why some sports bettors like to use online payment systems. This way you dont need to give up details of your bank account or credit card numbers online.

What Are Online Payment Providers?

Online payment providers spare you from having to make bookmaker deposits directly from your debit or credit card. 

That is typically the most common method of depositing with a bookmaker but it doesn't necessarily suit everyone, which makes online payment providers an increasingly popular choice when making deposits and placing bets now.

 The most popular online payment providers that are accepted by the majority of UK bookmakers are: 

  • Neteller
  • PayPal 
  • Skrill (formerly known as Moneybookers).


Which bookmakers accept Neteller?

Neteller is effectively a digital bank account with money potentially entering the account from bank transfers, card payments or even bitcoin. 

Bank transfers to your Neteller account are free, but some card payments come with fees and there are set fees for withdrawals from Neteller too.


Neteller

 Withdrawals from betting accounts to Neteller often take just a few hours but can take up to 24 hours.

The following bookmakers accept Neteller deposits:

  • Betfair
  • Paddy Power
  • Unibet
  • 888sport
  • Ladbrokes
  • Coral
  • BetVictor
  • 10bet
  • Betway
  • William Hill
  • Betfred
  • NetBet


William Hill Accept Netteler Deposits and Withdrawals
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Why use Skrill (formerly Moneybookers) for sports betting?

Skrill was known as Moneybookers until it was bought out by Neteller in 2015. 

Skrill is very similar to Neteller but some of the charges are different.

Deposits from bank transfers or Maestro are without change but expect a 2% fee for Visa and Mastercard deposits. 

Withdrawals out of Skrill carry a flat fee charge which is currently set at £4.75.


 Skrill


Withdrawals from betting accounts to Skrill are very quick and usually take just a few hours, although they can sometimes be as quick as an hour.

The following bookmakers accept Skrill deposits:

  • Betfair
  • Paddy Power
  • 888sport
  • Ladbrokes
  • Coral
  • BetVictor
  • 10bet
  • Betway
  • William Hill
  • Betfred
  • NetBet 
  • Unibet


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Which bookmakers accept Paypal?

Most shoppers are familiar with PayPal and will regularly use PayPal on their mobile devices. 

It can effectively be free to use PayPal for betting as depositing and withdrawing should be free to UK bank accounts. 

PayPal make their money by charging the bookmaker a transaction fee and that is the reason that not all bookmakers accept PayPal. 

You will be charged fees though if you make your deposits to PayPal using a credit card.

 

Paypal


For most bookies you should find that withdrawals reach your PayPal account within 24 hours.

The following bookmakers accept PayPal deposits:

  • Coral
  • Ladbrokes
  • Bet365
  • 888sport
  • Betfair
  • Paddy Power
  • Betway
  • Betvictor
  • 10bet
  • Betway
  • NetBet
  • Betfred
  • Unibet
  • William Hill
You can pay into your Bet365 account with Paypal
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What is PaySafeCard?

The PaySafeCard isn't quite as well known or popular as Neteller, Skrill or PayPal but it is accepted by a decent number of bookmakers so shouldn't be ignored. 

Many users will be able to use PaySafeCard without incurring any fees, they are usually only charged if vouchers are lost or if PINs are not used within a period of 12 months.

The following bookmakers accept PaySafeCard deposits:

  • 888sport
  • Ladbrokes
  • Coral
  • BetVictor
  • Betway
  • William Hill
  • Paddy Power
  • Betfair
  • 10bet
  • NetBet
  • Unibet


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Other Online Payment Providers - ApplePay - Bitcoin

There are other online payment providers out there such as Apple Pay and Bitcoin. 

They are not that well catered for with bookmakers, although in 2020 Apple Pay is being seen more often on bookmaker payment pages.

It's worth noting though that with the rising popularity of Bitcoin some Bitcoin only betting companies are being created. 

If we believe any are worth you opening an account with we'll add them to OLBG's bookmaker pages.

Why Should I Use Online Payment Providers For Betting?

Many punters see gambling as a private hobby and don't particularly want a list of all their gambling transactions appearing on their bank statement. 

This can be particularly important when applying for a mortgage or for a loan - gambling transactions are particularly frowned upon and can even cause mortgage or loan applications to be rejected.  

Also by keeping gambling records separate it is easier to keep detailed records of profit and loss from betting. 

This is a key strategy for many punters as keeping records allows you to better improve your betting and learn from mistakes. 

Unprofitable actions can be avoided and more profitable actions can be repeated. Keeping all those gambling transactions within an account such as Neteller or Skrill can make tracking your bets much easier.  

There is also the financial security aspect. The most reputable online payment providers have top-quality security measures in place and can be seen as a more secure place to keep your funds - certainly compared to leaving it in an account with an online bookmaker.

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