Author: Steven D. Thompson
Updated: 16/06/2022 10:42 AM
Gambling-Friendly Payment Methods For Betting Sites
Most online betting sites use popular paymeent methods to facilitate safe deposit and withdrawal transactions. And in this guide, we focus on the best gambling-friendly payment methods available at UK betting sites. We will cover electronic wallets (e-wallets), bank cards, pay by phone bill, cryptocurrencies and bank transfers. Read on to discover the most popular payment methods for online betting.
E-Wallets - The Most Used Payment Methods
Electronic wallets or e-wallets are undoubtedly the most common payment methods at online betting sites. They have attracted millions of punters in the UK and the world at large because they are safe and suitable for both deposits and withdrawals.
E-wallets are basically online-based banking digital wallets that allow you to store money online. You can use your wallet to make payments send or receive money from other users. This is possible when using the website or mobile app for Android or iOS.
The benefits of using e-wallets include instant deposits, fast payout speeds and ease of use. They are easy to obtain by just visiting the official website to create an account. And you can fund your e-wallet account using your bank account or debit card. Learn more about the top e-wallets such as Skrill, Neteller, PayPal, Apple Pay and Google Pay below.
Skrill is certainly one of the best payment methods you’ll find at top-rated online bookmakers for UK players. Owned by Paysafe, Skrill is the go-to payment method for most punters looking to deposit or withdraw funds fast. With it, you can fund your online betting account instantly so you can start betting without wasting time. The best online betting sites won’t even charge you for using Skrill or any other betting payment methods.
Even though Skrill is a great banking option, you must be aware that betting sites may impose payment restrictions. This means that you may not get a welcome bonus, free bets or other promotions where payment restrictions apply. Thus, it helps to read the bonus terms before depositing via your Skrill account.
Neteller is another gambling-friendly payment method brought to us by Paysafe. It’s among the most trusted payment methods for online betting sites across the UK and the entire world. Generally, Neteller is quite similar to Skrill in terms of how it works. But Neteller offers more ways to fund your online wallet.
You’ll love Neteller because it comes with great security features to protect your funds all the time. Also, you can make instant deposits, and there are VIP extras for the most loyal users. And you can use this banking method to deposit funds and withdraw money from your online betting account. As with Skrill, the biggest challenge when using Neteller would be payment restrictions that prevent you from claiming your free bet credits.
PayPal is one of the best betting payment methods that have stood the test of time. This banking option has been around since 1998 and has long been an easy choice for betting sites in the UK. Obtaining a PayPal account is easy regardless of whether you are using the website or the mobile app for phones and tablets. You simply enter the necessary details and follow the instructions to verify your account.
There are many advantages to joining PayPal betting sites today. First of all, PayPal deposits are normally instant, so you won’t waste time waiting for the money to hit your online betting account. Secondly, the e-wallet can be used for both deposits and withdrawals. But PayPal may not be as fast as other e-wallets at betting sites.
Apple Pay is a secure online banking payment method that allows users to pay for goods and services over the internet. Just like other e-wallets, you need to create an online account to use App Pay as your deposit method. This is a product of Apple, so it’s designed for iPads, iPhones, Apple Macs and Apple Watches. With any of these devices, UK punters can deposit funds into their online betting accounts safely and swiftly.
There are many good things to say about Apple Pay as an online betting site banking option. The first advantage is the fact that it is a secure payment method that does not share your card details. Security features such as Face ID and two-factor authorisation make it one of the safest payment methods. Besides that, users can enjoy instant deposits using the Touch ID feature. The only problem with this payment option is that you cannot use it to withdraw money from online betting accounts.
Google Pay may not be a popular payment method, but it’s still a great choice for some UK punters. It is a type of e-wallet created by technology giant Google for Android users at online bookies. You can use the mobile wallet to deposit money into your betting account instantly. There is nothing to worry about because the payment method is designed by one of the most trusted companies in the world.
Just like other payment options for online betting sites, Google Pay presents some benefits and downsides. The wallet is easy to set up and use as an Android user. Moreover, a high level of security is guaranteed because the company uses innovative security features to protect your funds. And punters won’t be asked to pay any fees at the best betting sites.
The biggest issue you might have with this payment method is that you can’t use it to withdraw funds from an online bookmaker. We should also mention that not many betting sites accept Google Pay for deposits. Therefore, you must research well if Google Pay is your preferred payment method.
Debit Cards - Visa and Mastercard
By looking at the sheer number of online betting sites using debit cards, it’s evident that bank cards have a place in the online gambling industry. In fact, debit cards have been among the most popular betting payment methods in the UK for a long time. This is probably because the vast majority of people own a debit card. Acquiring a debit card is easy because you only need to visit the nearest bank. You can even apply for one online without going to the bank. Visa and Mastercard are by far the most common debit card options for online punters.
If you have used debit cards before, you can attest to the fact that they are beneficial in several ways. They offer instant deposits that will let you claim free bet credits and other promotions at the selected online bookmaker. What’s more, debit cards are an excellent option for deposits and withdrawals at any betting site. The only significant concern for sports bettors would be sharing their debit card details with betting sites.
Paysafecard is one of the best payment methods for punters who don’t like sharing their bank details. It’s a voucher-based payment system operated by the Paysafe Group responsible for Skrill and Neteller. Users need to buy vouchers with a 16-digit code from the nearest Paysafecard store to use this banking method. But the easiest option is to purchase the vouchers online from wherever you are without having to travel. Once you’ve decided which betting site to join, select Paysafecard, and you’ll be prompted to enter the code.
Security is one of the greatest advantages of using Paysafecard. This payment method makes it possible to fund your online account without sharing your bank account or debit card details. The payment process is also simple, even for a new user. However, you can only choose from vouchers with predetermined amounts of £10, £25, £50 or £100. And withdrawals are practically difficult when using Paysafecard at betting sites.
Pay By Mobile
Pay by Mobile is another valid payment method suitable for online sports bettors in the UK. This option allows punters to fund their online betting accounts using a mobile phone number. Boku and Payforit are the most famous brands in this category.
Many punters are attracted to Boku because it’s one of the simplest UK betting payment methods today. To use this banking option, you first need to obtain a working mobile number from any of the supported service providers. You can then make payments to betting sites through your monthly phone bill orctly from your current balance. As with other pay by phone payment methods, Boku is fast and secure. But it does not support withdrawals.
Payforit is another increasingly popular payment method for mobile users. The only thing you need is a functional phone number to use it. Punters can have the funds deducted from their monthly phone bill or use the prepaid option to pay with the current balance. Although Payforit makes it easy to deposit money fast and safely, you cannot use it to withdraw your winnings from a betting site.
Cryptocurrencies are among the newest payment methods for online betting platforms in the UK. They use advanced technologies such as the blockchain to guarantee safe, anonymous and transparent transactions. When you hear of cryptos, you are most likely to think about Bitcoin. But more cryptocurrencies have emerged over the years and are now available at betting sites. For instance, lots of UK sportsbooks are now accepting Ethereum and Dogecoin. You only need to choose your preferred crypto to bet online.
You might not believe that old-fashioned payment methods like bank transfers are available for online gambling. But the truth is that some of the best betting sites in the UK still accept bank transfer transactions. With this payment method, you simply transfer fundsctly from your bank account to your online betting account. There are no middlemen, so the process is straightforward and safe.
So, why would someone use traditional payment options at betting sites when there are many innovative options? Well, it’s a matter of choice and the benefits that come with bank transfer payments. Bank transfers are considered to be the most secure payment method at online betting sites. Also, you can make instant deposits using this option. Another advantage of using bank transfer transactions is that they can handle huge sums of money at once. Furthermore, sports betting sites accept them for deposits and withdrawals.
The main challenge is that transaction speeds are generally slower than when using other online betting payment methods. On top of that, you might worry about sharing your bank details. Punters should only use bank transfer payments if they are not in a hurry or when there are no alternative payment methods.
How About Credit Cards?
As you can see, we haven’t talked about credit card payments at UK online bookmakers so far. The sad truth is that you cannot use your credit card as a betting payment method in the UK. This is because the UK Gambling Commission does not allow online betting websites to use credit cards. The ban would supposedly add a layer of protection for gamblers and make it hard to bet online with borrowed money. So, don’t be surprised if you come across the best online betting sites that don’t accept popular credit cards.
Look no further if you are looking for the gambling-friendly UK betting banking methods. From e-wallets to popular debit cards and cryptocurrencies, you can count on numerous options. Certain payment methods such as e-wallets and debit cards are definitely more popular than others. But it all boils down to what you like as long as it’s fast, safe, and reputable.
If you join any of our top bettings sites, you can bet for real money using the payment methods discussed here. Choose options that will let you make a qualifying deposit to claim free bet offers and other bonuses. Also, remember to meet the min deposit requirement and place a qualifying bet to benefit from sportsbook promotions. Good luck!
Frequently Asked Questions
Which is the best payment method for UK betting sites?
There are many gambling-friendly payment options at UK online betting sites. Your preferred payment method will depend on what you are looking for. But most e-wallets, bank cards, pay by phone options, and cryptocurrencies should work perfectly for everyone.
Can I use credit cards at online sportsbooks in the UK?
Unfortunately, the UK Gambling Commission banned the use of credit card payments at online gambling sites. But you are free to use debit cards and prepaid cards.
Are there transaction fees when using payment methods at betting sites?
The best betting site will not charge any transaction fees on deposits or withdrawals. But the payment service provider might charge a small amount of money.
Can I get a welcome bonus by depositing funds using any payment method?
No. Payment method exclusions apply to some payment methods for online gambling, preventing you from accessing free bets and other bonuses. E-wallets are usually the main victims of such restrictions. Always check the bonus rules before choosing a payment option.