Payment Methods at UK Betting Sites
If you wish to place a bet, you’ll need to fund your betting account. Online betting sites now offer more options than ever before and it’s easier than ever before to make a deposit. Some of the most popular methods available in the UK include Visa, Mastercard, Skrill, PayPal and BOKU. It only takes a matter of minutes to update details and it is possible to deposit via various different methods depending on your preference and financial situation. Bettingtop10 take a look at the advantages and disadvantages of each option.
Advantages and Disadvantages of Payment Methods
Visa – VISA is the most popular way of depositing into a betting account and once you’ve submitted your card details, it is quick and easy to conduct regular transactions. There are no additional charges for using this method and it will take between 2-3 days to leave your bank account. Most sports betting sites allow users to set up deposit limits on VISA cards to help stay in control which is extremely handy. This is not the recommended method if you want to avoid deposits showing up on bank statements however.
Mastercard – Depositing via Mastercard is another simple way of funding any betting account. Similarly to VISA, it only takes seconds to submit your details and some online sportsbooks such as Bet365 offer bonuses to players using this methods. Sports betting sites are extremely safe and you can feel safe using Mastercard. Most Credit cards have a limit imposed by the operator so it’s imperative to ensure you have sufficient funds otherwise you may miss out on a potential winning bet!
Skrill – Skrill is effectively a digital wallet which holds a set amount of funds and an increasing number of UK betting sites accept this as a payment option. Transactions are often much quicker using Skrill and there are no additional charges with the majority of online bookmakers. It’s a terrific way of keeping on top of how much you have deposited although not every betting sites use Skrill and the minimum deposit is generally set at £10.
PayPal – Paypal is very similar to Skrill and acts as an e-wallet. Paypal transactions are quick and easy although some sites do charge a 1% commission for using this method. Nearly every UK betting site accepts Paypal and winning bets are paid into these accounts sometimes within hours. Once again, some sportsbooks stipulate a minimum deposit when using this method.
BOKU – The newest payment method to become available with online betting sites and is becoming increasingly popular. Users can fund accounts via their phone and receipts are sent directly to the device. It is simple and easy to use although deposits are generally limited to a maximum of £20 or £30 and some bookmakers have not added it to their list of deposit options yet and withdrawals cannot be made via BOKU.
Depositing into a Betting Account
It’s easy to make a deposit into a betting account with many sites offering a prompt when balances are running low. Most betting sites will have a ‘deposit now’ or ‘my account’ option to click on and it’s simple to enter your details and make an initial deposit. If you’re previously funded your account, your details will often be stored making it even quicker to fund your account.
Some betting sites will offer bonuses and incentives for players depositing via particular methods, there are usually limited to credit cards and some e-wallets. Occasionally, depositing a set amount will trigger a bonus or a chance to enter a prize draw so it’s always worth considering this before choosing your method and amount.
All sports betting sites have a reputation to keep up and any breach of security will result in a major PR disaster so they are always striving to improve their safety for players making deposits.
Withdrawing from a Betting Account
If you’ve managed to accumulate some winnings – congratulations! Betting sites will have the option to withdraw in the ‘your account’ section of the site and simply type how much you wish to withdraw and via which method.
It isn’t possible to withdraw via BOKU unfortunately as the payment comes from your phone bill however all other methods accept large withdrawals.
Many online sportsbooks will only allow you to withdrawal into a PayPal or Skrill account if you have deposited via their method but transactions via this way are usually significantly quicker and can take less than 24 hours to process.
Withdrawals via VISA or Credit Cards will generally take between 2-4 days although this can be delayed by Bank Holidays or weekends.