Payment Methods for Sports Betting

    When signing up with a bookmaker, you will need to make a first deposit in order to claim your welcome bonus. Also, when you play using your bonus and win, you’ll have to use a perfect banking method to receive your winnings. 

    That is why you need to consider the payment options available before you can sign up. Currently, there are many methods that you can select from, and the recommended UK sportsbooks offer all of them for their customers to use. Due to a large number of payment methods available, it can be a bit overwhelming at first. However, once you have got the hang of it, and selected your favourite method, it’ll become easy to make your deposits and withdrawals regularly.

    There’re various aspects to consider when selecting a gambling site and picking your preferred payment option. Deposit and withdrawal methods vary from one sportsbook to another, and each one of them has its strengths and weaknesses.  Some of the aspects that you need to consider include additional operator charges, ease of use, and safety. With this in mind, below are the different types of payment methods that top sportsbooks in the UK offer.

    Debit Cards

    The most popular debit cards include Entropay, American Express, MasterCard and Visa. All these cards are not only quick but also easy to use, and after submitting your details, gambling firms store them safely, and you will be able to use the payment options repeatedly for all of your transactions.

    When using cards, you need to have funds in your bank account, and you must check the deposit limit that your sportsbook or casino supports before completing any transactions. If the funds exceed the limit, your transaction will be declined. 

    All deposits through debit cards are processed instantly, meaning you will be able to start playing just after confirming your transaction. This will help you not miss on any potentially winning bets, especially when you are placing wagers on sports. 

    In terms of withdrawals, you can receive your winnings through any of these card payment options, and it will take anywhere between 2 and 3 working days for the funds to reflect into your account. 

    Debit cards are safe to use, and many gambling platforms, including William Hill and Paddy Power, will provide you with a welcome bonus when you use any of these options.

    Prepaid Cards

    Aside from credit/debit cards, prepaid cards are also common banking methods that UK punters use. You can currently purchase prepaid cards from Visa and MasterCard and top up your card before using it to fund your online casino or bookie account.

    PaySafeCard is another popular prepaid card, and you can purchase it from any verified outlets in the United Kingdom. Based on your budget, you can buy a PaySafeCard for £100, £50, £25, or £10. After purchasing the voucher, making a deposit is easy and straightforward. You just need to access your casino or sports betting account, enter a PIN, choose your deposit amount and press confirm.

    A few bookmakers, casino, poker, and bingo sites in the UK offer a welcome bonus when you deposit through PaySafeCard, while others will deny you the bonus. So it is important to check the bonus terms and conditions to be sure that you’ll receive the welcome offer before using your PaySafeCard. Ladbrokes is one of the leading betting websites that support PaySafeCard transactions.

    Electronic Wallets

    Popularly known as eWallets, electronic wallets are increasingly popular among UK punters and gambling sites. Neteller, Skrill and PayPal are the most popular electronic wallets available at top UK sites. Electronic wallets are easy to use, and they can allow you to set aside a given amount of cash to use for gambling purposes.

    All electronic wallets process deposits instantly and withdrawals only take a few hours. Many sites will only allow you to withdraw your winnings through eWallets if you deposited through the same method. Before you can use any electronic wallet option, you should check if it attracts any additional charges for making a deposit.

    If you love last-minute betting or in-play betting, then electronic wallets are a perfect match for you. Naturally, they are the quickest way of funding your betting account to place a bet in time. The only drawback with eWallets is that many sportsbooks and casinos will not allow you to claim a welcome bonus when you use either Skrill, PayPal or Neteller to make your first deposit.

    So if you are planning to take advantage of some generous free bet offers, casino bonuses, bingo promotions or poker deals for new players, you should consider using other methods like Visa and MasterCard. Betfair and Sportingbet are some of the leading betting websites that accept electronic wallets.

    EcoPayz and Other eWallets

    If you want a viable alternative to the electronic wallets mentioned above, EcoPayz is worth a look. With the safe payment services available from PayPal, Skrill and Neteller, EcoPayz offers a perfect way to fund your account and receive winnings. 

    Best of all, many online gambling websites have no restrictions on sign up offers for customers who use EcoPayz. This’s a massive positive and one of the reasons why UK punters consider signing up with bookmakers and casinos that support EcoPayz, including Unibet.

    Although the aforementioned electronic wallet options are some of the common and most popular in the market, gambling websites do accept deposits and withdrawals through other eWallets. William Hill is a perfect example, and this bookie accepts a massive array of electronic wallets, including Usemybank, Web Money, Entropay, Click2Pay, InstaDebit, and ClickandBuy. As always, it is nice to check which banking options are accepted by your bookmaker or casino of choice before signing up.

    Bank Transfers

    Bank transfers offer the simplest way to fund your casino or sportsbook betting account. You can also make withdrawals through bank transfer. Many top UK bookies don’t charge any fee for bank transfer transactions. However, some banking institutions do apply a small fee, especially when you’re moving funds between different currencies and countries.

    Unfortunately, bank transfer transactions aren’t instant and times can vary based on what banking institution you’re using as well as the bookie you’re playing at. In 2008, some banks in the UK introduced FPS, Faster Payments Service, and if your sportsbook supports FPS, your transactions can be processed within a few hours.

    In most cases, payments via bank transfers take anywhere between 3 and 5 business days to clear. If you can be patient enough, bank transfers can be a perfect match for you. To be on the safe side, you should be making your deposits at least two days earlier before the start of a race, match or any other sports event.

    When you use bank transfers to make the first deposit, you will be sure to receive a sign-up offer at top sportsbooks, casinos, poker and bingo platforms. Coral and Betfred both accept bank transfers.  

    Apple Pay

    Established in 2014, Apple Pay is currently one of the best payment options available at reputable online gaming platforms. The interface that this purchase option uses is primarily an intermediary between credit cards, online and offline transactions in physical shops across the UK. Its popularity has increased in recent months, due to its state-of-the-art features, including Face ID and Touch ID authentication systems.

    The payment option runs on the current iOS operating system for online transactions. Those who have supported debit or credit cards such as MasterCard, Maestro and Visa can also enjoy the services of App Pay. The payment method ticks all boxes as it is safe, secure, and easy to use. Additionally, it processes all deposits instantly. Bet365 is a perfect destination if you are looking to use Apple Pay to fund your betting account.

    Western Union

    Many betting sites in the UK now accept Western Union. It is one of the most popular and famous cash transferring systems in the world. However, when you compare it with other payment options that betting firms support like eWallets and credit/debit cards, it’s the most expensive. If you’re going to use Western Union to make payments, then it should be your last option due to the associated transaction fees.

    Other Common Payment Options

    When it comes to funding your casino or bookie account, you are sure to be spoilt for choice in terms of payment methods. Aside from all the above options, you will also find popular methods like Maestro, Trustly, Wire Transfer, Neosurf, Sofort, Giropay, Zimpler, Much Better, AstroPay, Cheque, Qiwi, Euteller, POLi, and Boku. Some sites also support digital currencies like Bitcoin Cash, Ethereum, Bitcoin and LiteCoin, among others. 

    Final Thoughts

    Payment methods are among the most important things that you need to consider when picking your betting site. They assure you that a given platform is safe, reliable and trustworthy since many banking companies are dedicated to protecting their customers from losing their hard-earned money. 

    Also, they allow players to get their hands on some of the most generous welcome bonuses in the UK. But the amount of bonus vary from one site to another. Be sure to check if your bookmaker or casino will provide you with a bonus if you use a given payment method. Our recommended betting sites offer a wide range of welcome bonuses; you can check them out if you are looking for a good gaming destination.