Being able to deposit quickly, easily and securely at an online casino or sportsbook is one of the most important features for all types of players and bettors.
There are a multitude of different deposit methods offered by the sportsbooks and casinos. It’s most important that you choose a payment method that is trusted, secure and right for you. Some providers are deposit only while others allow you to withdraw your winnings back to your deposit method.
Can’t decide between debit / credit cards or eWallets … it comes down to your personal choice and preference to go with. Some people prefer not to share their personal banking details over the web and trusted e-wallets like Neteller and Skrill are a great alternative. However, others prefer to stick with what they know and trust so they tend to stick with their debit cards.
Let’s start with some of the most common payment methods used by online sporstbooks and casinos.
Credit cards are still one of the most popular methods of depositing at online casinos and sportsbooks. Virtually all online operators – with the exception of the UK where the use of credit cards is illegal – accept credit cards.
Credit cards are amongst the most secure and convenient banking methods for online gambling. They are widely available and very easy to use, with operators like Visa, MasterCard and American Express offering outstanding security.
Online payments simply require the information displayed on the card and the verification code and the customer is protected through various security measures for preventing online scams and fraud. In short, credit cards are often the best for quick and safe deposits. Credit cards from MasterCard or Visa come with limited liability for the customer in case of fraudulent transactions. If the card is lost or stolen, the transactions can be denied and so the client doesn’t suffer any negative consequences. A quick call to the support team of the respective card issuing entity is often enough to block the card from future transactions.
Nowadays, credit cards can be managed much more easily through mobile apps. These feature all of the needed information and help give users an even better security for online payments. Notifications can be enabled for various transactions and the balance can always be checked within seconds. Some credit card mobile apps even support biometric authentication for signing it with a fingerprint or with Face ID.
The only downside? Depending on where you reside and the legislation in place, some banks may not permit or authorise transaction with gambling establishments or sites.
Debit cards are also a popular method of depositing online – especially in the UK, where credit cards are banned. Many sites accept deposits from card providers like Visa, Mastercard, and Maestro to name a few.
Available worldwide, debit cards have helped revolutionize the way we pay for things, be it in-store or on the net. A debit card is linked to a bank account and allows the owner to make payments instantly, with no hassles. Whilst they are similar to credit cards, users can only spend the money they actually have on their account when using a debit card.
Nowadays, most local stores and websites accept payments by debit cards from Visa or MasterCard. The top online sportsbooks and casinos that accept debit cards allow users to make deposits within a few minutes to get started as quickly as possible. There are several security measures in place to ensure that every transaction on these websites is perfectly safe and that the information is properly encrypted. Another great use for deposit cards when it comes to gambling is being able to conveniently withdraw the winnings and then use the funds immediately.
Pre-paid card solutions, such as Paysafecard, offer a prepaid payment method that offers improved security for online transactions. You can purchase a card (or codes) for as little as €10 from the selling locations – look at the vendors website - and then use them to make deposits at your casino or sportsbook of choice.
It’s a safe, secure option as no banking details are ever shared across sites. With over 40 countries currently offering solutions like Paysafecard, this is suitable for most players. Plus the free mobile app for iOS and Android devices allow players to keep all their codes in one place. Mobile payments can be made through QR codes directly from the apps.
There is a drawback to using prepaid cards in that, generally, operators won’t allow you to withdraw using a Paysafecard. However, the operator offers a service called My Paysafecard, which several casinos support withdrawals to.
Mobile e-wallet and payment apps – such as Skrill, Neteller, ECO and PayPal - allow you to easily make payments to your gambling site of choice (as well as other merchants). Simply download the app, then make payments into the app from your Visa or MasterCard credit or debit cards … even Bitcoin.
With them, you can link a credit card, bank or crypto account as a funding source to deposit money into your sportsbook or casino account and also use them to withdraw winnings. The benefit being that they allow you to move money electronically for a very low fee, in a very short time. Depositing money is nearly instantaneous and withdrawals are often processed within 48 hours at most sportsbooks and casinos sometimes, within 24 hours.
An additional benefit is their ability to allow you to access their service from your smartphone or mobile device. Furthermore, most of these e-wallet providers allow for transaction sizes large enough to accommodate the needs of almost every bettor. Just remember to set your e-wallet currency to match the currency of your betting account to reduce currency exchange fees.
Another important aspect is the anonymity they provide as your base funding source (credit / debit card) will be shown to transact with the e-wallet rather than directly with the casino or sportsbook. If you are concerned with being able to bank with your sportsbook with a layer of anonymity, these e-wallets provide it.
Direct bank (or wire) transfers are available at most sportsbooks and casinos, in almost every country of the world. Wire transfers may take a little longer to settle as a transaction but this method generally allows for extremely high limits and is thus very good for high rollers.
If you would like to fund your account using a cryptocurrency such as Bitcoin, you can do this, but you may find that your account will still be in a normal currency. A betting site that accepts cryptocurrency i.e. Bitcoin will exchange your crypto deposit for their current exchange rate into your currency balance.
Most sites that accept crypto will convert to a limited number of currencies like the USD or Euro or GBP, not others, so your betting account would likely need to be in ones of these currencies.