Betting Payment Methods

Recommended Payment Providers

We all live in a very technological time where innovations are every day. As in almost every field, new payment methods are constantly emerging in finance. Of course, a banking option that appeared two years ago cannot have the background and reputation of a method that has existed for 20 years. Each payment solution has its advantages and disadvantages, but we still know that perfection does not exist. If you can't decide which method to use to deposit money into a betting site, this article will give you all the information you need to make a decision. In the table below, we have collected all recommended payment providers, which we will examine in detail in the respective sections.

How We Rate the Top Betting Sites Payment Methods

When it comes to selecting a sports betting site or an online casino

with which to open an account, it is critical that you read some reviews so that you can learn everything you need to know about that particular bookie. After that, you can make an informed decision about which bookmaker to register with. When looking for a payment method to deposit or withdraw funds from your chosen bookmaker, use the same strategy.

Reading our payment method guides will provide you with valuable information such as the best British bookies that accept the payment method in question, the benefits and drawbacks of using the particular banking option, how secure it is, and whether there are any fees or commissions associated with using that payment method. In other words, we will provide you with all of the pertinent information regarding the most popular UK payment methods. Read on to find out the main factors we consider when evaluating a payment method.

• Deposits and Withdrawals - when it comes to payment methods, not all forms of service are the same, and neither are betting sites. For instance, some online operators will accept MasterCard for both withdrawals and deposits, while others may accept MasterCard only for deposits. The discrepancies stem from the fact that betting sites have to pay for certain bank services through some kind of merchant charges. As an illustration, if a betting site does not support Neteller withdrawals, it is because the service charges the gambling operator more than they are willing to pay in order to provide this as an additional service to players.
• Fees - charges and fees vary depending on the service, whether it is paid with a credit card, an e-wallet, or a prepayment voucher. They are not present in every service, nor are they absent from every service. Our reviews will tell you exactly what is involved with the payment method and what fees and charges are associated with it.
• Security - even though all casino operators use services approved by the Financial Conduct Authority (FCA), you may want to learn more about the specifics of what personal information is sent during the transaction. For instance, e-wallets may only store the name of the customer, the payment code, and the value, while a credit card service will provide the customer's name, the last four digits of the account number, and the date the card will expire.
• Limits - if it happens to win half a million pounds, you may be unable to withdraw the entire amount in just one transaction. Some online betting sites have restrictions on what can be withdrawn, and others may be limited due to the payment systems responsible for the exchange. Many operators limit withdrawals to about $30,000 per day. Others differ, so you should look into these details to see if your financial services have any restrictions on how much can be transferred at a time without incurring additional fees and costs.
• Timescale - not every deposit and withdrawal occurs within the same timeframe when moving funds from one account to another. If you want quick payments, submit money to the casino; some are instant, while others can occupy up to a week. The same can be said for withdrawals, depending on the method you pick. Online payments are generally immediate in terms of deposits. Withdrawals typically take 3-5 business days to process. Offline deposits will take 3-5 days, and withdrawals will take 5-7 days.

Debit and Credit Cards

This is the most widespread form of payment for many players not only in the UK but around the world. VISA and MasterCard, the market's two dominant figures, preside over credit card banking. Both provide the same high level of security. To play online, you do not need to activate a credit card account because debit cards work equally well.

VISA Betting Sites Review

VISA was founded in 1958 and has since become recognized as one of the most well-reputed, reliable, and secure banking services. VISA is now the most widespread payment option available to punters in the UK and all over the world. As long as you have a VISA card, you can use this method at every betting site because there is hardly any operator that does not accept it.

Read our VISA review to find out which are the best betting sites accepting this method.

MasterCard Betting Sites Review

MasterCard, which was founded in 1966, has evolved into one of the most common banking options at sports betting sites in the UK. It is one of the payment methods that you will find on a large percentage of sports betting websites on a global level. As with VISA, you must have a MasterCard to be able to transact using this method.

Our MasterCard review will reveal everything you need to know about this banking option as well as which are the best MasterCard betting sites.

Online Betting Sites E-Wallets and Prepaid Cards

E-wallet services have been available on the market since 1999. The software that powers the tools of service includes built-in components which keep the player's private information while also providing the highest level of security by using encryption to secure the transfer of funds. E-wallets are electronic cash systems that are easily accessed via a smartphone or a desktop computer. To put it simply, this payment method is viewed as a virtual credit or debit card that connects your original banking service via a third party that, in some cases, can prevent your personal data from being conveyed through the transactions.

PayPal Betting Sites Review

Although having been around since 1998, the company entered the money transfer business one year later. The name PayPal and the functioning of the company in its current form did not happen until 2001. Globally, more than 325 million people use PayPal ant it has turned into one of the most preferred options for depositing or withdrawing money at online betting sites in the UK.

To find out which are the top betting sites in the UK accepting this banking option, read our PayPal review.

Paysafecard Betting Sites Review

Since its establishment in 2000, Paysafecard has been one of the best alternative betting sites’ payment options on the island. It is a prepaid option that enables users to buy a voucher at a nearby shop or online and then use the special 16-digit code to conduct transactions. In practice, it is neither an e-wallet nor a bank card but combines features from both.

For additional information, click on the Paysafecard link which will transfer you to our review where you can see the best Paysafecard betting sites.

Skrill Betting Sites Review

Since its beginning in 2001, Skrill has been one of the most secure payment solutions available at the best UK betting sites. Skrill is one of the most widely used e-Wallets because it allows you to transfer money both nationally and globally. It is being used by more than 40 million people and has become PayPal's main competitor.

The best Skrill betting sites can be found by clicking the eponymous link.

Neteller Betting Sites Review

Even though it was created in 1999 in Canada, five years later was moved to the UK in order to be closer to the European markets. Neteller is an alternative payment service used by most betting sites that allows users to send and receive money from other Neteller users. This e-Wallet has millions of users and is available in over 200 countries.

Our Neteller review will give you all the details you might need as well as the best sportsbooks accepting this payment solution.

EcoPayz Betting Sites Review

Due to its foundation in 2000, ecoPayz is one of the oldest e-wallets which are still functioning. The fact that it has remained around for over twenty years demonstrates how good it is because anything with major flaws will not last more than a few years. It is now available in over 150 countries worldwide and accepts 50 different currencies.

The best EcoPayz bookmakers in the UK are listed in our EcoPayz review.

Bank Wire Transfers for Gambling

This type of payment, also known as instant banking, is a one-to-one transfer between the casino's account and yours. This is a traditional approach to depositing funds into the account. Nonetheless, with so many banking services available, there are plenty of options. This payment method discloses your full bank account information, which is not the best security option, but it is clearly safe.

Instant Bank Transfers

Pay by Phone Bill Betting Site Payments

When you deposit money at a bookmaker using a "pay-by-phone" method, the amount is credited to your monthly phone bill. You choose how much to deposit, then fill in your telephone number and commonly a special code that is sent to you via text message, and the funds are instantly added to your betting account. Depositing with your phone bill is becoming an incredibly popular banking option among players due to a number of advantages such as quick operations, and high safety and security levels.

Boku Betting Sites Review

Founded in 2009, Boku is already available in more than 70 countries, and it has approximately 1.4 billion users around the world. You pay with an existing credit card or your monthly phone bill rather than a bank account. All that is required to use Boku is your mobile phone number. Thus, Boku is one of the payment options that eliminate the need to provide your personal banking information.

You can find the best sportsbook in which Boku is available in our Boku review.

Payforit Betting Sites Review

PayForIt began in 2005 as a project by a consortium with the primary goal of promoting mobile payment, but it was not officially launched until 2007. This is a "charge to bill" payment method that allows you to pay for various online services using your phone. Paying is simple and quick, and the sum is billed to your monthly phone invoice, just like text messages or phone calls, rather than your e-wallet or bank account.

Zimpler Betting Sites Review

Its establishment was in 2012 in Sweden. Zimpler functions as an e-wallet that integrates some of the best online financial practices because it allows you to store your cards in one place while also paying online. Transferring money is simple, and the owner of the mobile wallet has complete control over the funds.

In our Zimpler review you will see at which sportsbooks you can use this banking option.

Alternative Betting Sites Payment Methods 2024

In the past, we all burst out laughing when hearing about cryptocurrencies, but there's no getting away from them now. Today, cryptocurrency is the most secure and fastest method of online banking. Betting sites will accept cryptocurrency payments as a deposit, but they will then be converted into pounds, with which you will play and potentially win. Despite the fact that cryptocurrencies are an available deposit option at more and more betting sites, you will not be able to withdraw winnings as cryptocurrency.

Bitcoin Betting Sites and Cryptocurrency Betting Sites Payments

Cryptocurrencies are becoming increasingly popular on gambling websites but the most widely known is Bitcoin. Since Bitcoin is a digital currency, there is no such thing as a Bitcoin account. However, you will still require a place to keep all of your Bitcoins, which is where Bitcoin wallets play an important role. A Bitcoin wallet is similar to a traditional bank account in that you can use it to manage, send, and receive Bitcoins. There are numerous Bitcoin wallets to choose from.

Have a look at our Bitcoin review to get familiar with the best UK betting sites which accepts this banking option.

Betting Sites Deposit and Withdrawal Fees and Limits

Bookmakers have different withdrawal regulations and rules but even though, the process is pretty much the same at all of them. However, there are betting sites that will oblige you to use the same banking option for both deposit and withdrawal and therefore you should be careful when choosing your preferred one. Another common case is that at some bookmakers there are accepted payment methods through which you are not allowed to withdraw your possible winnings, and this is the other thing you should carefully search for in the Terms & Conditions section. Also, it is a wise move to check if there are any fees for using a particular method or whether the banking option’s policy foresees any charges. Otherwise, here is a simple guide to the withdrawal process of your confirmed winnings.

• Log in to your betting site account.
• Check your balance in the account and make sure you have confirmed all your winnings
• Select the option for withdrawing ad pick your preferred method.
• In case you use this option for the first time, you may be asked for some details.
• Submit to your bookmaker.
• You will be notified vias email when the withdrawal is confirmed.

Fast Withdrawal Betting Sites Options

Bookmakers have different rules and policies when it comes to withdrawals. Although the withdrawing processes are pretty much the same at all sportsbooks, it is possible to have some differences. For instance, some betting sites may require using the same banking option you chose for your deposit or may have withdrawal restrictions on some methods. These are things you should always check before any transaction, so as not to be surprised unpleasantly. Also, keep in mind that whenever you submit to your betting site, it will need some time to process the request for cashing out, and then depending on the payment option you have chosen the withdrawal time for crediting the amount to your balance will vary. Have a look at the table to see the estimated time for each payment method.

Betting Sites Account Verification and KYC Procedure

Before receiving a green light on placing bets, you have to go through the process of verifying your identity and the "Know Your Customer" procedure. They are a must for every gambling site in the territory of the UK. It is impossible to skip them because you will not be able to make deposits, claim betting bonuses and casino bonuses

in the case of the bookies that double as casinos, place wagers, and withdraw winnings.

There are three reasons why betting sites need to do that. First, to check whether you are old enough to place bets (18); second, to make a quick check whether you are self-excluded; and third, your identity to be confirmed in order to prevent the usage of user accounts by criminals. Besides, this is the main way bookmakers ensure the safety of your deposited money and winnings.

They are obliged to do that by the United Kingdom Gambling Commission even before the punter makes his/her first deposit. The documents you will be asked to provide are an ID card and bank statements. Back to the KYC procedure, it is a rigorous customer ID verification process used by banks, eWallets, and gambling operators.

The KYC procedure is really simple but varies from one site to another. Generally, during your registration process, you will have to fill in some personal details such as an email and a phone number. After submitting the registration, you will be requested to confirm your email address by clicking on the link you will receive in an email sent by the operator.

Betting Sites Payment Methods for High Rollers

There are bettors with substantial quantities of disposable income who may be able to take larger risks; these are often known as high rollers. A small proportion of bettors are likely to have the ability to wager with almost no boundaries, but still, it is always better to place a bet within your means. Although the term ‘’high roller” is more widely used for casino gamers rather than punters, its concept is valid for bookmakers’ users as well.

A high roller is a person who wagers huge amounts of money on a regular basis in the belief that they'll win. Maximum deposit limits, as well as betting and withdrawal limits, are most likely to have an effect on your capability to behave as a high roller, so punters should investigate these areas before signing up.

When dealing with significant amounts of money, gamblers must take into account the payment method they are using, as the speed and expense of withdrawals and deposits may differ between the options available, and with some of the banking methods the transfer of such large sums may not be able. That is why the high rollers prefer to use bank cards and transfers, or digital wallets. Nonetheless, bank transfers are not very fast and digital wallets may have additional fees.

Minimum Deposit Betting Sites Payment Methods

Many punters prefer to place bets at minimum deposit betting sites simply because as the name suggests the requested amount of funds in order to be able to do some sports betting is minimum and can be as low as £1. If you have a look at some of our bookmakers’ reviews, you will see that there are plenty of safe and secure minimum deposit betting sites. All of them have various payment solutions you can choose from.

What you should keep in mind is that some banking options may not allow depositing of just £1, or the operator may have restrictions about the minimum deposit when using different methods. So, it is a wise move always to check these things because they are mostly related to the operator’s policy. If you are the type of punter who prefers wagering at minimum deposit betting sites, consider using any of the “Pay by phone” methods as their intention in general is to be used for small amounts however, you can check out specific cases for casinos in our online casino reviews.

Online Betting Payment Methods

As we have already stated, all payment methods have pros and cons. Therefore, the best banking solution for you might be different than the one for your friend. You will need to find on your own which is the best payment option for you. Make experiments using different methods such as credit cards, digital wallets, prepaid cards, or “Pay by phone” options with small deposits to be able to see which one works best for you. Even though most betting sites are more into credit card usage, there is no reason not to use your preferred method.

Safe and Legal Betting Sites Banking

To be sure that your funds deposited as well as your personal information are safe, there is one thing you should do, and all your worries will be groundless. You should never sign up at shady sports betting sites without proper licensing. Just to be clear, proper licensing means that the operator has a licence issued by a respectful gambling regulator such as the UK Gambling Commission. If a particular betting site is licensed, then it follows certain rules in order to be eligible for this official document and it is subject to regular inspections whose aim is to determine whether the conditions are met.

Frequently Asked Questions