Payment Methods for Online Betting » Deposits & Withdrawals

Payment Methods for online betting

Learn about the payment methods offered by betting sites

Payment methods at betting sites

When it comes to choosing an online betting site, one of the biggest factors among punters is what payment methods each bookmaker offers. Why? Because there are a lot of great bookies that punters are willing to consider. But not that many payment methods.

However, more and more payment options are coming into existence and nowadays quite a few are available at the online betting sites. Especially at the more experienced ones.

This page serves as an overview of the most popular and, in our opinion, best payment methods on offer for online betting in the UK.

The payment methods can be divided into four main categories. Cards, e-wallets, bank transfers and others. “Others” include the likes of mobile payments or crypto currencies, i.e payment options that are growing, but not yet used to a large extent.

Frequently asked questions about payment methods for online betting

Here follow some of the most frequently asked questions about online betting sites and payment options.

🥇 What is the best payment method on betting sites?

This is a difficult to answer as it depends on what you want from your transactions.

If you want ease of transaction then using your Visa/Mastercard could be your best option.

If you are in a country where you cannot use your debit or credit card directly, then Skrill or Neteller could be the best way to secure a secure and relatively speedy transaction.

If you are looking for mobile payments, Google Pay for android, or Apple Pay for iPhone are great, fast options.

💡 What is the fastest payment method on betting sites?

Payments with debit cards are usually very fast, and widely accepted by bookies. However, if you have Apple Pay or Google Pay setup on your mobile device, it will probably be even faster.

Click for betting sites with Apple Pay or Google Pay.

🔑 Which payment method is the most secure?

If it is a reputable betting site that you are using, then any payment method they offer should be reliable. However, bank transfers are considered the most secure. The downside is that it often is a slow process to both deposit and withdraw through bank wire.

❓ Can I claim the sign up offer with any payment method?

Unfortunately you can't. This has to do with "know your customer" (KYC) regulations. A bookie must be reassured that there is a real person behind the money they handle. There have been a lot of bonus schemes from syndicates by using for example e-wallets. Therefore, e-wallets are not (in general) allowed as valid payment methods for the sign up offer. Be sure to check that your preferred payment method makes you eligible for the sign up offer.

Companies with most payment methods

22bet: Top international choice

100% up to €120

22bet is an international bookmaker with a lot of options for deposits and withdrawals. The site is not available in the UK, but in terms of the total amount for all countries, there are not many bookies that beat 22bet.

Claim €120 offer

This offer is available to new players who made the first deposit. All players must be 18+ years old and of a required legal age to gamble. In order to activate this bonus on the personal 22BET account, please, enter the bonus code BB122 when a deposit is made and wager your deposit once on betting markets with odds of at least 1.65 within 30 days.


Bet365: Top UK choice

100% up to £100 in bet credits

Bet365 is a great option, no matter which payment option you prefer. All the classic methods are available, and also modern e-wallets, such as Apple Pay and Google Pay (only at bet365 at time of writing).

Claim £100 offer

Open Account Offer. Up to £100 in Bet Credits for new customers at bet365. Min deposit £5. Bet Credits available for use upon settlement of bets to value of qualifying deposit. Min odds, bet and payment method exclusions apply. Returns exclude Bet Credits stake. Time limits and T&Cs apply.


Card payments

There was a big update regarding payments for online betting in April of 2020, when the United Kingdom imposed a ban on credit card deposits at online betting sites. The reason being that a lot of problem gamblers were using credit cards to fund their betting account.

Gambling addiction

Gambling addiction should be taken seriously. If you have any worries about your gambling, please get in touch with BeGambleAware where you can find free, confidential help.

However, debit cards are still valid payment methods and remain the most popular way of funding online betting accounts.

There are several reasons for this, but the most obvious is that next to all people have a debit card.

Pros and cons of debit card payments

There are several good reasons for why debit cards is the most widely used payment method for online betting. 

Pros

  • Deposits are instant
  • Eligible for sign up offers
  • Easy to withdraw money

Cons

  • Punters have to share their card details with the bookmaker

Betting sites that accept VISA/Mastercard

20 May 2020

Deposits and withdrawals with debit cards, such as VISA or Mastercard, is the most popular payment method for online betting. There are many reasons for it, as you will learn in ... Read more

E-Wallets

The most options punters will find when it comes to payment methods, lies with e-wallets. The most well-known option is Paypal, but there are also betting-geared options such as Skrill or Neteller, as well as big brand options such as Apple Pay or Google Pay.

The general advantage of e-wallets is that they gather all your funds in one place, as an online version of your physical wallet. Instead of using your debit card for your online purchases (clothes, electronics, betting etc), and sharing card details, you only need to share your card details with the company behind the e-wallet. Logically, it is therefore more secure.

Pros and cons of e-wallet payments

E-wallets are very popular for deposits and withdrawals at online betting sites, as many consider the pros to outweigh the cons. 

Pros

  • Instant deposits
  • No need to share bank details with bookie
  • Fast and easy to withdraw funds

Cons

  • Not eligible for sign up offers (in general)

Paypal for online betting

Paypal is one of the most preferred e-wallets on the betting market. The reason for it is that Paypal is a well respected, secure option and it is also possible to claim the welcome offer with Paypal deposits. At least in almost all cases. This is not the case with many other e-wallets.

  • Main advantage: Considered the most secure, reliable e-wallet.
  • Main disadvantage: Not the fastest deposits and withdrawals.

Neteller for online betting

Neteller is a digital payment service that works very much like a wallet. With a Neteller e-wallet you can save and spend money online. It is a very tried and tested payment method within the online betting community.

To spend money with Neteller on betting sites, you will simply need to upload money into your e-wallet from your bank and then chose Neteller as a payment option with the betting site.

  • Main advantage: Integrity, as you don't have to share bank details with bookmakers.
  • Main disadvantage: Not eligible for sign up offers.

Recommended Neteller betting site

Neteller payments at Coral

Bet £5 get £20 in Free bets

There are a lot of betting sites that accept Neteller as a valid payment method. However, terms and conditions might differ a bit among them. At Coral, the minimum deposit requirement is the lowest, and in combination with withdrawals within 24 hours, they are our top choice for Neteller payments.

Claim £20 offer

18+ Eligible UK+IRE players. Paypal & some deposit & bet types excl. Min first £5 bet within 14 days of account reg at min odds 1/2 = 4x £5 free bets. Free bets valid for 7 days, stake not returned. No cash-out, restrictions & T&Cs apply.


Read more about Neteller

Betting sites that accept Neteller

20 April 2020

Neteller, the trusted e-money transfer service, is a ubiquitous payment method in the betting industry, and because of its fast deposits and simplicity, it is many UK punters' ... Read more

Skrill for online betting

Skrill is a similar service to Neteller in that it is an online digital wallet. You simply select what currency you will deposit with, along with some basic personal details and you will have set up your Skrill account.

Like Neteller, it is a very well trusted payment service within the betting world.

  • Main advantage: Widely accepted among bookies.
  • Main disadvantage: No sign up offers.

    Recommended Skrill betting site

    Skrill payments at Paddy Power

    £20 Risk Free Bet

    Paddy Power is one of the most recognized bookies in the UK. When it comes to Skrill deposits, Paddy Power also offer its customers good services with a low minimum deposit and among the fastest payout to the e-wallet.

    Claim £20 offer

    New customers only. Place your FIRST bet on any Sportsbook market and if it loses we will refund your stake in CASH. Max refund is €/£20. Only deposits made using Cards or Paypal will qualify. €/£5 Same Game Multi free bet will be available to claim from the promotions hub after the qualifying bet has been settled. T&Cs apply.


    Read more about Skrill

    Betting sites that accept Skrill

    17 April 2020

    Skrill is one of the industry's most trusted digital payment providers for online betting. In this article you will learn about the advantages, disadvantages of the payment ... Read more

    Apple Pay for online betting

    Apple Pay is a deposit option that has really exploded in the past years. Similar to other e-wallets, its simplicity, especially on the mobile device is what makes it a great option for punters looking to deposit at online betting sites.

    Unfortunately, Apple Pay is only available for Apple users and does not allow for withdrawals.

    • Main advantage: Probably the fastest option for payments.
    • Main disadvantage: Does not support withdrawals.

    Recommended Apple Pay betting site

    Apple pay deposits at Betfair

    5 x £20 Free Bets

    There are not that many betting sites that offer Apple Pay yet. However, among the ones that do there is really no one that stands out when it comes to minimum deposits or other factors.

    However, we like Betfair as a general option, and Betfair do allow deposits with Apple Pay. Therefore, our main recommended betting site for Apple Pay deposits is Betfair.

    Claim £100 offer

    New customer offer. Place 5 x £10 or more bets to receive £20 in free bets. Repeat up to 5 times to receive maximum £100 bonus. Min odds 1/2 (1.5). Exchange bets excluded. Payment restrictions apply. T&Cs apply.


    Read more about Apple Pay

    Betting sites that accept Apple Pay

    21 May 2020

    Apple Pay has surfaced as possibly the most popular modern payment methods at online betting sites, and more and more operators are coming around to accept the mobile payment ... Read more

    Google Pay for online betting

    Google Pay is the latest payment option for Android users at online betting sites. It is very simple to use, and probably the fastest one for Android users.

    • Main advantage: Probably the fastest option for payments on Android phones.
    • Main disadvantage: Does not support withdrawals.

    Recommended Google Pay betting site

    Google Pay at Bet365

    100% up to £100 in bet credits

    At the time of writing, only Bet365 offer Google Pay. In time, we are sure more bookies will follow. But seeing as Bet365 is the world's top betting site, and offer Google Pay, recommending them is a no brainer.

    Claim £100 offer

    Open Account Offer. Up to £100 in Bet Credits for new customers at bet365. Min deposit £5. Bet Credits available for use upon settlement of bets to value of qualifying deposit. Min odds, bet and payment method exclusions apply. Returns exclude Bet Credits stake. Time limits and T&Cs apply.


    Read more about Google Pay

    Betting sites that accept Google Pay

    25 May 2020

    Google Pay is one of the easiest deposit methods for online betting if you have an android device. Similar to its counterpart Apple Pay, Google pay enables its users to do ... Read more

    Bank Transfer

    Bank transfers, also known as bank wires, are simply a way of sending your money from your bank to a betting company.

    In theory, this is the simplest way of doing business as there is no middle-man transferring the payment for you. The bank will simply check that you have the money and send it.

    Pros and cons of bank transfers

    Pros

    • It's simple and straightforward
    • It is a secure option
    • Bigger deposits and withdrawals available

    Disadvantages

    • Processing Time

    In some countries the process of bank transfers has been very much improved because of third-party services such as Trustly. But in the UK the bank payment remain fairly slow. That is, however, the only real downside of bank transfers for online betting. 

    On the other hand, the main advantage with bank transfers are that they are very secure. Probably the most secure option available to UK punters. 

    Adding to that, if you are a punter who likes to gamble with bigger amounts, bank transfers might be your cup of tea. The maximum amounts for deposits and withdrawals are larger compared to other methods because of the security bank transfers bring. 

    Recommended bank transfer betting site

    Paddy Power bank transfer

    £20 Risk Free Bet

    Paddy Power is a well-known UK bookie with several good payment options. For bank transfers, we recommend Paddy Power over other bookies because of its low minimum deposit of £5, (relatively) fast withdrawals and "faster payments service" bank transfer which makes deposits quicker than normal.

    Claim £20 offer

    New customers only. Place your FIRST bet on any Sportsbook market and if it loses we will refund your stake in CASH. Max refund is €/£20. Only deposits made using Cards or Paypal will qualify. €/£5 Same Game Multi free bet will be available to claim from the promotions hub after the qualifying bet has been settled. T&Cs apply.


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