Depositing

Depositing

In order to be able to bet online, you will have to fund your betting account, i.e. deposit money into it. Depositing is one of the most important aspects of the betting process. Then, at some point, once you’ve, hopefully, won enough money, you will probably like to withdraw and use some of the money you’ve won. After all, that is the main goal of every punter. Knowing that millions of payments happen every day, and knowing how far technology progressed, there is nothing easier than making an online deposit nowadays and sports betting operators offer more than one deposit method.

Most Popular Deposit Methods

Each deposit options has its advantages and disadvantages and each punter can choose which method suits them most. Generally speaking we can group payment methods in few categories:

  • Credit/debit cards

    – all popular sports betting sites accept payments made with credit or debit cards, as credit cards are one of the most popular payment methods these days. Online credit card payment are something most punters are already used to, therefore it is not surprising why many decide to fund their betting accounts using their credit/debit cards.

  • E-Wallets

    became very popular, especially in the last few years. There are many e-Wallets that are available, some are available only in certain regions and countries, whereas others can be used worldwide. Neteller and Skrill are some of the more commonly used e-Wallets by sports betting punters.

  • If you’re a bit more old-fashioned than you might want to fund your account using

    bank wire transfer

    . It may take a while as these payments take longer, but they are completely safe.

  • Prepaid cards

    allow you to fund your online account without providing your credit card information. All you need to do is purchase a card that has a certain value and then use the code in order to deposit the amount to your betting account.

  • If you like you can also use instant

    payment methods like Western Union

    , as such payments are accepted by some operators, although they usually come with a fee.

  • Last but least, you can fund your account using

    Bitcoins or some other crypto-currency

    . There aren’t a lot of operators that accept Bitcoins, but there are some that do. Bitcoin payments are instant and anonymous.

Credit/Debit Cards

Most bookmakers accept Visa, Visa Electro, MasterCard and Maestro credit and debit cards and some accept American Express. Most punters have already made online deposits using their credit cards and that is why these payments are preferred by many.

Making a credit/debit card deposit is pretty easy. All you need to do is provide some necessary information. You will need to state what sort of a card do you have (Visa, Maestro, etc), what is the number stated on the front, the name and the address of the cardholder i.e. you, the expiry date (in some cases also the starting date) and the security code. If you didn’t know, the security code are the three numbers on the backside of the card. Then you will need to select the amount you want to deposit. Most casinos have a minimum deposit limit and it may vary, depending on the operator in question and/or the type of the card. Card details can be saved, so that you won’t have to fill in all the fields every time you make a deposit, although you will probably need to provide the security code every time you make a deposit.

There are certain obvious advantages of using credit cards. First of all, practically everybody already owns a credit card, so there is no need to open new accounts or waste any time. Secondly, credit/debit cards are widely accepted, by virtually every operator. Another clear advantage is the fact that cards are easy to use and the deposits are instant.

Most operators won’t charge you any fees, but some might. Also, some other methods might allow faster withdrawals. In terms of deposit and withdrawal limits, credit cards allow for a certain degree of flexibility, although there are methods which offer lower minimum and/or higher maximum limits.

E-Wallets

E-Wallets are essentially bank accounts that function online. It is very easy it so open an account and deposit money into it. Then, you can easily deposit to any online website that accepts them. E-Wallets are quite useful for online punters who have accounts with more than one betting site as you can easily withdraw from and deposit to your e-Wallet account and thus switch money between different accounts. There are many available e-Wallets, but PayPal, Skrill and Neteller are the most popular and most reliable ones.

All popular e-Wallets are similar and you’ll need to provide your email account associated with the account. Some e-Wallets provide customers with security codes, known only to them, which are required always when the customer wants to make a deposit. Most online betting operators won’t charge any extra fees on deposits made from your e-Wallet to your betting account, however there are fees when you’re depositing money from your bank account to your e-Wallet. Therefore, it would be wise to make fewer deposits from your bank account to your e-Wallet, and then withdraw money to your bank account only when there’s a larger amount of money to be withdrawn, so that you won’t lose too much on fees.

Wire Transfer

Making a wire transfer is pretty easy. People who are not comfortable with using credit cards online or other online methods usually use wire transfers. These transactions take longer and there are fees involved. If you prefer using bank transfer as your deposit method, make sure that you deposit higher amounts at once so you won’t have to pay a lot of fees. The operator’s bank information might be displayed publicly on the website, otherwise you will have to contact their customer support, since you can’t make a bank transfer without knowing the operator’s banking details first.

Prepaid Cards and Vouchers

Using prepaid cards and vouchers is very simple. They can be purchased for a fixed amount of money and there’s also a fixed amount of money on them which can later be deposited and used to fund your betting account. The disadvantage is that these cards cannot be used for withdrawals and you’d have to withdraw your winnings using some other method. The good thing is that you can limit your deposit to a certain amount of money and it will be a lot less likely for you to be tempted to wager more money than you originally planned. PaySafeCard is one of the most commonly used prepaid cards, but there are other as well.

Money Transfer Services

Money transfer services can also be used. MoneyGram and Western Union are the most popular money transfer services. Due to the fact that these services involve pretty high fees, they have been used very little by punters. Deposits via these services are pretty fast and you don’t have to use your credit card.

Bitcoins and Other Crypto-currencies

The use of Bitcoins and other crypto-currencies has been on the rise lately. There are numerous reasons for this. Firstly, Bitcoin payments are safe and reliable and you won’t need to provide any personal information when you’re making a deposit. Secondly, both deposits and withdrawals are instant and you can easily exchange Bitcoins for other currencies, both standard as well as crypto. There are a lot of specialized Bitcoin betting sites. Some of them accept other currencies as well, whereas other are limited to Bitcoins. In general, Bitcoin betting becomes increasingly popular.

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