Betting Sites Payment Methods

Playing online, you can only start wagering for real money once you fund your account. If you are wondering about payment methods that work for you, then you have come to the right place. We tell you all about bookmakers payment methods you should be familiar with when playing online with details on their stand-out features.

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Top 10 Payment Methods for Sports Betting

Choosing the best betting sites also includes platforms with the best payment methods for online betting. We had to rank the best payment options. Find out what strengths each comes with:

MethodPopular becauseBest for
👉 MasterCard✔️ Accepted by most betting sites⭐ High amount of withdrawals
👉 VISA✔️ Available across different countries⭐ High cash out limits
👉 PayPal✔️ Long track record⭐ Dependable banking option
👉 Skrill✔️ Fast payments⭐ More control over your money
👉 Neteller✔️ Instant payments⭐ Forex feature for different currencies
👉 Bitcoin✔️ First cryptocurrency to be used on betting sites⭐ Fast payments
👉 Much Better✔️ Direct bank transfers⭐ eWallet features
👉 Bank Wire Transfer✔️ Direct transfers from your bank account⭐ Most secure payment option
👉 EcoPayz✔️ Availability across different parts of the world⭐ Fast payments
👉 Trustly✔️ Versatile payment options⭐ Easy to use

Card payments and eWallets are some of the most used transaction methods among online players. Even so, there is a wide range of options that include an array of altcoins and direct bank wires. Here is a rundown of some of the safe online payment methods:

Banking Cards

Credit cards have been the mainstay for online payments for a long while now. Online betting sites have made VISA and MasterCard the two most prominent payment options for cardholders. Occasionally, you will find Maestro and American Express among the card options. There are some pros and cons to using banking cards for your transactions.

  • Pros
  • Secure payment option
  • Move money straight into your bank account
  • Accepted on most online bookies
  • Large withdrawal limits
  • Useable with other payment options
  • Cons
  • Long processing time
  • Some credit cards are not accepted at all sportsbooks
  • You have to give out your details to use the service

VISA

VISA logo

VISA has long been one of the most used credit cards for online payments on virtual bookmakers. As one of the leading payment processors, you are sure to find some ❰❰ TOP VISA betting sites ❱❱ that make it a cinch to pay using your credit card. Players will like that you get instant deposits.

Withdrawals take up to 72 hours to process, after which your winnings are accessible through your card.

MasterCard

MasterCard logo

MasterCard is yet another card payment option that has become a staple in online bookmakers. Players are bound to find the option at all five-star virtual betting sites. You get fast deposits and reliable withdrawals at
❰❰ MasterCard betting sites ❱❱.

We liked that you can always access your winnings for bonus promotions. Simply fill in your details and complete the KYC process to move money in and out of your account fast.

Maestro

Maestro logo

As part of the MasterCard payment system, Maestro is yet another reliable card payment option players can take advantage of. The best thing about ❰❰ Maestro betting sites ❱❱ is that you get high cash-out amounts that let you access your whole bankroll in one withdrawal.

With your Maestro card, you don’t have to worry about having third parties to go between as you make your transactions. That you get no charges on your transactions is another reason why the card is so convenient to use.

American Express

Amex logo

American Express is one of the lesser-used cards on online wagering platforms. ❰❰ American Express betting sites ❱❱ are often platforms targeted towards clients from the US. The American Express card is a perky-heavy charge card reserved for those with high credit score rankings.

One of the benefits of having an American Express card for your betting activities is that you get quick banking for both deposits and withdrawals. You also get high transaction limits which let you move your money as you please.

Bank Wire Transfer

Bank wire transfers are often the most direct money transfer to and from the virtual site. This is a way players can use to get cash into their bank accounts directly without having to use any third-party money-handling companies.

While it is one of the classic means of money transfer, ❰❰ betting sites that accept bank transfer ❱❱ have seen most players ignore it for eWallets and crypto payments. One of the downsides that will discourage players from using the service is the processing time it takes to access your winnings.

  • Pros
  • High withdrawal limits
  • Available in different countries
  • Active on all bonus rewards
  • Secure payments
  • Deposits straight to your bank account
  • Cons
  • Takes long to process withdrawals
  • No anonymity
  • May be subject to transaction fees on the bank’s end

eWallets

Digital wallets are some of the most used payment options not only for virtual betting sites but also other transactions across the internet. Such payment options like eWallets are great for security and convenience. You can always find a top site that offers one or the other eWallet payment option. Here are some pros and cons that come with using eWallets:

  • Pros
  • Accepted in most sportsbooks
  • Instant processing time for your cash
  • Make transactions and store money
  • Accepted for bonus rewards at most betting sites
  • Apps available to manage your account
  • Cons
  • Transactions can be redirected
  • Low withdrawal limits
  • Some do not have deposits enabled

Neteller

Neteller logo

Neteller is an e-money transfer service that works on various online merchants, including online betting sites. Having started processing payments for online sportsbooks back in 2000, the company is now available at 85% of online bookmakers. With this, you get instant deposits and withdrawals. Players who play at ❰❰ Neteller betting sites ❱❱ will find that the payment processor is great for its currency allowances taking up to 26 main currencies. Aside from online payments, Neteller users also get a physical card that lets them access their money from automated teller machines.

MuchBetter

MuchBetter logo

MuchBetter is one of the newer eWallets for online gambling. The payment processor is designed mainly for online gambling, so you get a few more perks on this option.

For starters, MuchBetter betting sites offer very secure payments that connect your bank account to the betting site. Anonymity is yet another reason punters gravitate to this payment method, as you don’t get transactions from betting sites on your bank statements.

Skrill

Skrill logo

Skrill is a digital wallet that started out under the name Moneybookers. Since its launch in 2001, the eWallet has gained acceptance among online shoppers and merchants. Users get payments in 40 currencies. ❰❰ Skrill betting sites ❱❱ have the service available in 131 countries, which makes it one of the most reliable eWallets for online players. Skrill is one of the eWallets that have instant payments enabled.

PayPal

PayPal logo

The oldest eWallet used in online betting sites, PayPal is a trusted brand that has served as the main electronic payment system for a long time now. With over 244 million active users across the world, the payment processor is well-known and trusted. Some of the features that make ❰❰ PayPal betting sites ❱❱ perfect include same-day processing and availability in different parts of the world.

Online Payment Systems

Online payment systems are an alternative to eWallets that lets you access your funds for online payments. These can function as payment processors or double up as storage for your funds. With online payment systems, bettors have to go with options geared towards their countries, as these often connect your bank account to online merchants. Here are some pros and cons that come with using these services.

  • Pros
  • Convenient payments across online platforms
  • Fast payment processing
  • Direct payments from your bank account with no intermediaries
  • No need to share details if you are only using it for payment processing
  • High withdrawal limits
  • Cons
  • Low coverage for specific companies
  • Many bookies are yet to adopt these payment methods
  • Can take time to process transactions

Klarna

Klarna logo

Klarna is a fintech company based in Sweden providing financial services like online and direct payments as well as post-purchase payments. The online payment system has been running since 2005 entering new territories through time to become one of the most used payment options in Europe. That the payment service offers a buy now, pay later service is one of the reasons it is as big as it is. ❰❰ Klarna betting sites ❱❱ let you top up your account and access your winnings through the same payment option.

Rapid Transfer

Rapid Transfer logo

Rapid Transfer came into online banking with the promise to make things easier and faster. True to its word, the company has brought a system of payment that is arguably the fastest. You need no registration to use the service, and you get instant customer acceptance and payments. Rapid Transfer betting sites ensure you have all the flexibility you need when moving your money. Working with +3,000 banks, the service offers proper security and chargeback protection through indemnified payments.

Revolut

Revolut logo

Revolut is a digital banking solution with many options that encompass different financial options. Aside from storing your cash and making payments, betting sites that accept Revolut also let you buy cryptocurrency. You also get an exchange rate for your money when using currency from different parts of the world. That it qualifies for all your sports and casino betting bonuses is yet another reason to opt for Revolut.

Trustly

Trustly logo

Trustly is a Swedish online payments solution perfect for your travel, eCommerce, financial services, and iGaming needs. Trustly connects your bank account to your online betting account for ease of transactions when topping up your account and making withdrawals. With Trustly betting sites, players enjoy instant processing and high withdrawal amounts. You also get simple use that does not even need you to have an app.

EcoPayz

ecoPayz logo

EcoPayz is a long-time favourite for online players and betting sites. With the service available in over 160 countries, it is little wonder why most online bettors prefer EcoPayz. You get an app for both Android and iOS devices that keeps you close to your money. Bookmakers using ecoPayz also let you use the sleek MasterCard debit card that lets you access your funds through ATMs.

GiroPay

GiroPay logo

GiroPay is an online payment system based in Germany. The service facilitates transactions straight from the client’s bank account. Geared towards players in Germany, you are most likely to find the option for GiroPay betting sites aiming for this region. Users who opt for GiroPay will like that they are not charged any fees when making transactions.

Crypto Payments

Crypto payments have come as a new way to make online purchases, and online bookies have not been left behind. Now you have more and more crypto bookmakers emerging, giving players a chance to enjoy online gambling using crypto tokens.

In a bid to replace fiat money, cryptocurrencies have pulled off quite the feat in gaining acceptance among punters. With new tokens emerging and betting sites even coming up with proprietary altcoins, there is no telling where the wave of crypto transactions will take us. Of course, cryptocurrencies have come with some upsides and downsides.

  • Pros
  • Promote anonymity
  • Very secure
  • Instant transaction times
  • Wide variety of cryptocurrencies to play
  • Gaining acceptance among online players fast
  • Cons
  • High withdrawal limits
  • Not available on all gambling platforms
  • Excluded from some bonus promotions

Bitcoin

Bitcoin logo

Bitcoin was one of the first cryptocurrencies to hit the iGaming industry. Today, cryptocurrency betting sites have grown to be known as Bitcoin betting sites. That’s because Bitcoin has become a mainstream payment option for online betting sites. Being a pioneer in this field, Bitcoin is one of the most popular crypto payment options among bettors. Some bookies even offer players to buy Bitcoins for their future wagers.

Litecoin

Litecoin logo

Litecoin is the second most used altcoin for crypto gambling sites. You are likely to find Litecoin as one of the foremost crypto payment options at crypto betting sites you visit online. Making payments through the altcoin is fast and secure, which is why you have plenty of Litecoin betting sites. As a reliable crypto payment for online players, Litecoin lets you access a wide selection of sites.

Dogecoin

Dogecoin logo

Dogecoin is one of the cryptocurrencies that came with the surge of altcoins and became a mainstay. While other crypto tokens went burst, Dogecoin enjoyed a period of steady growth with the typical spurt of activity. Dogecoin is one of the more attainable crypto tokens for many players interested in playing crypto casino games, and thus you will find plenty of Dogecoin betting sites.

Tether

Tether logo

Tether is a cryptocurrency that introduced a way to use fiat money digitally. The altcoin is backed by the US dollar. As a stablecoin, Tether is one of the best altcoins to opt for when playing online with cryptocurrency. Since cash reserves back the coin for each coin traded online, the cryptocurrency is sure to be one of the most used, with more and more Tether betting sites coming up.

Mobile Credits

Mobile credits are yet another option meant to ease the process of transferring money. With mobile credits, you can make payments straight from your phone which are later charged to your phone bill. This is one of the easiest and most convenient payment options for players using their smartphones to play online games.

You don’t have to share your credentials when making such payments since the phone company already has these and backs your payments. While you cannot move much money through this option, it can be quite handy for players looking to enjoy some harmless wagering at mobile payments betting sites.

The other thing about this kind of payment is that it reiterates the site’s legitimacy.

  • Pros
  • Fast transactions
  • Play and pay later
  • Betting sites are catching on to this form of payment
  • Secure payment option
  • No paper trail on your betting transactions
  • Cons
  • No withdrawals
  • Low amount deposits
  • Few options to choose from

Apple Pay

Apple Pay logo

Apple Pay is a banking solution tailored for iOS users. With ApplePay, users can make payments in-store, on the app, and on online sites. Apple Pay betting sites offer the service for players operating from their Apple devices. The payment option is not specifically restricted to Apply Pay transactions alone, as it is usable with a wide range of contactless payment terminals. It also works for merchants who accept contactless payments. Supported by one of the world-leading tech giants, Apple Pay options is the undisputable leader among iPhone and iPad non-professional bettors who need to deposit small amounts to have occasional fun.

Pay by Phone

Pay by Phone logo

Pay by Phone is a mobile payment option mostly popular with UK bookies. Players in the UK can make payments charged to their phone bill for bookmakers that spot the Pay by Phone logo. While it started as a solution for paying parking fees, the system has evolved to include many options like Pay by Phone betting sites. Pay by Phone offers a fast and simple way to make small deposits to your account that you can then use on the slots and tables. Rather than go through a long-winded login and authentication process, Pay by Phone lets you move small amounts at the touch of a button.

Google Pay

Google Pay Logo

Google Pay is a mobile payment service that lets you access your funds for contactless payments, in-app purchases, and online shopping. The service lets you pay from Android phones, tablets and watches. You can make your payments on Google Pay betting sites if the platform has the logo displayed on it. Players that enjoy playing slots and other games with low wagering limits will find an option like this quite convenient.

Boku

Boku logo

Boku is yet another option that lets you make payments through mobile wallets and carrier billing. While Pay by Phone may be geared towards users in the UK, Boku takes on a worldwide customer base. The payment option lets you access online payments as well as payments at physical points of sale. Boku betting sites offer a secure payment option, so you never have to worry about foreign charges on your phone bill.


How to Choose the Best Payment Method for Online Betting

1. Security

Online players always have to watch out for shady betting sites that will take their money. Knowing the security protocols for the payment processor of your choice is key to staying safe when you make online payments. You should always go for bookies that offer a payment method you are used to. By picking options you know well, you can always track your payments.

2. Availability

Access to the available payment methods is one of the reasons some players will pick one bookmaker over another. Ideally, you want a bookmaker that lets you move money through payment options you are familiar with. All the top betting sites offer a range of payment options most punters have access to. Having a wide variety of payment options is one of the hallmarks of legitimate bookmakers.

3. Deposit & Withdrawals Limits

Accessing your bankroll is not just about having the right payment options. You also need a payment option that offers flexible deposit and withdrawal limits. Most payment options come with a deposit limit of up to $10,000. The withdrawal limit is what most punters look out for. Find a payment option with high withdrawal limits.

4. Will it Grant You a Bonus?

Some online wagering platforms will grant players bonuses for playing certain games and making deposits. In encouraging the use of one payment option, betting sites can also offer bonuses on various payment options. Players should mostly consider whether they can access bonus funds through the payment option of their choice. Betting sites often have requirements for what banking options to use when cashing out bonus winnings.

5. Processing Time

One of the most crucial considerations for most players, processing time determines how quickly you can access your funds after making a withdrawal. Typically, eWallets and cryptocurrency are the fastest payment options out there, even offering instant cash out. If you are using card transactions, you might have to wait up to 3 days to access your funds. Bank wires take the longest time to process as you may have to wait up to 5 days.

6. Fees

Moving money online may come with some fees. Most times, players incur fees when moving money in different currencies. However, the general rule of thumb is that betting sites do not charge for transactions. This way, players often move funds without having to incur any fees whatsoever. Withdrawal methods, however, frequently come with some additional fees, especially when it comes to banking methods. The charges depend on your personal banking account’s terms.


Maximizing Security and Convenience with Betting Site Payment Methods

Security is one of the biggest concerns when it comes to online payments. It is a concern shared by both merchants and customers alike. With online payment fraud growing more and more prevalent, it is up to the vendors and customers to improve security. On their part, betting sites are keeping bettors safe through means such as SSL and TSL encryption for transactions. With this, customers can rest assured that transactions are not accessible to foreign parties.

Betting sites are also adopting payment tokenization. This works through the conversion of sensitive data into algorithmically-created characters referred to as tokens. The random values created may not hold any meaning, but they redirect to the original data that is useful. In staying safe, punters are always advised to register at legitimate bookmakers where they know the vendor applies such security measures.


FAQ

Is it safe to deposit at Bookmakers?

Yes, legitimate bookmakers apply security measures that ensure neither your payments nor personal details land in the wrong hands.

Which is the fastest payment method for online betting?

Bitcoin is the fastest payment method for online betting. With cryptocurrency, making your payments is instant for both deposits and withdrawals.

What is the best payment method for online betting?

VISA is the best payment method for online betting since it offers convenience, security and widespread accessibility.

Are my banking details safe with the bookmakers?

Yes, registered bookmakers have an obligation to keep your banking details safe. Betting sites agree to keep player information confidential under the terms of use.

Which payment method to choose for big deposits at bookmakers?

When making big deposits, bettors can use bank transfer or credit cards like MasterCard, Maestro and VISA. These often come with high deposit limits.

Can I use Cryptocurrency for online betting?

Yes, betting sites now accept cryptocurrency to place bets with. Punters can choose from a wide range of the most used cryptocurrencies to place bets with at crypto betting sites.

Which is the best payment method for mobile betting?

Boku is the best payment method for mobile betting since it accepts payments from both Android and iOS devices. The service has also gained acceptance across different countries.

Expert Javia Alex
Javia Alex
Javia Alex is an expert-level Copywriter/Editor with a wealth of experience in the iGaming scene. A self-described player advocate, Javia’s player-first mindset, “tell it like it is”, has earned her an oft-cited voice across gambling circles. She frequently works late nights and long hours, fact-checking reviews and pages for accuracy.
Published on 17 January 2023, last edit on 07 February 2023
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