A Quick Look at The Online Betting Payment Methods You Can Use Online
At the end of the day, the best payment methods for online betting boil down to two things – how widely accepted your payment method is, and how well that payment method works for you. As you can see from the table below, most payment methods are very similar to one another (with the exception of PayByPhone and cryptocurrencies, which we’ll get into later), meaning that ultimately what works best for you and your favourite betting operator is going to be a great choice.
| Payment Method | Advantages | Disadvantages | Fees | Processing Time |
|---|---|---|---|---|
| Debit Cards (Visa, Mastercard) | Widely accepted, convenient, fast. | May incur charges from your bank. | Varies by bank, typically 0–3%. | Instant |
| Credit Cards (Visa, Mastercard) | Widely accepted, convenient, fast. | Can be risky due to potential debt, Can’t be used in all regions for gambling. | Varies by card and issuer, typically 2–5%. | Instant |
| E-Wallets (PayPal, Skrill, Neteller) | Secure, fast, often no fees. | May not be accepted by all sites. | Varies by provider, typically 0–2.5%. | Instant |
| Bank Transfers | Secure, no fees from betting site. | Slow, can take several days. | Varies by bank, typically free. | 1–5 business days |
| Prepaid Cards (Paysafecard) | Anonymous, convenient, budget control. | Limited availability, lower deposit limits. | Varies by card, typically 3–5%. | Instant |
| PayByPhone (Boku) | Convenient, instant deposits. | Limited use, often high fees. | Varies by provider, typically 10–15%. | Instant |
| Cryptocurrencies (Bitcoin, Ethereum) | Fast, secure, potentially anonymous. | Volatile market, not widely accepted. | Varies by exchange, typically 1–5%. | Varies, typically within minutes. |
A Roundup of the Betting Sites Accepting the Widest Range of Payment Methods
Now that you know more about the types of payment methods betting sites are likely to accept, it’s time to look into the brands that offer the widest payment method support. The best online betting payment methods are the ones that offer you the most support and security, so it’s only natural that you’ll want to use your preferred method when placing bet deposits. By going to these sites, you’re more likely to be able to use the betting payment method you prefer.
Unibet – A Longstanding Sportsbook Offering Over 30 Fiat Payment Methods
- Accepts Over 30 Payment Methods
- Decent Max Deposit Limits
- No Fees
- Minimum Deposits from €5-10
- No Cryptocurrency Support
Unibet accepts many different online betting payment methods, including popular eWallets like PayPal, Skrill, Neteller, and Payz. It also accepts prepaid cards, bank transfers, and in some regions, Apple/Google Pay. However, you won’t be able to use cryptocurrencies here.
For credit/debit, the minimum deposit starts as low as €5, while prepaid cards, PayPal, and other eWallets need a deposit of at least €10, and other options vary depending on the bank, and what country you’re located in. Most options (debit/credit/eWallets) are instant and have a maximum deposit amount of €10,000 or equivalent.
The good news is that when using these options, you won’t be paying any fees, unless there’s a currency conversion involved. The deposit limit is also quite high across options, with most eWallets having a max deposit limit of €13,000. Options like debit and credit have their own unique limits based on your account. While these are all solid numbers, if you want even more low minimum deposits (and higher maximums), you’ll want to head over to a brand like Bet365.
Bet365 – A Top Provider Accepting Most Fiat Payment Options
- Wide Fiat Payment Method Acceptance
- Instant Payment Options
- No Fees
- Low Minimum Deposits
- Doesn’t Accept Cryptocurrencies
- Must Verify ID to Expand Payment Methods
Bet365 accepts most commonly used online betting payment methods that are based on fiat currencies, which excludes cryptocurrencies, so it’s similar to Unibet in that sense. There is a caveat, however. In order to make payments with options like credit, pre-paid credit, Neteller or Skrill, for example, you’ll need to verify your identity and postal address. Once verified, you can make deposits with most fiat currency options, including PayPal. There are no fees when depositing or withdrawing funds, except for a potential currency conversion fee, but that would be handled by your financial provider, not Bet365.
Bet365’s minimum and maximum deposits do change depending on the payment method. Here are a few examples:
| Payment Method | Minimum Deposit | Maximum Deposit | Processing Time |
|---|---|---|---|
| Debit | £5 | £20,000 | Instant |
| Apple/Google Pay | £5 | £5,000 | Instant |
| PayPal | £25 | £5,500 | Instant |
| Paysafecard | £5 | £770 | Instant |
| Trustly Bank Transfer | £5 | £25,000 | Instant |
| Wire Transfer | £100 | £100,000 | 2–10 Banking Days |
If you’re after a betting site with a legacy behind it as Bet365 does, but one that also accepts cryptocurrency, you’ll want a brand like 22Bet.
22Bet – A Long-Standing Betting Brand Accepting Cryptocurrency
- Accepts Cryptocurrency
- Many Unique Payment Options
- No Fees
- Minimum Deposits from €10
- Doesn’t Accept PayPal
- Must Verify ID to Expand Payment Methods
22Bet keeps it simple. For most payment methods, the minimum deposit is €10. Thankfully, it accepts a huge range of different payment methods to make up for this. On 22Bet, for example, you can pay with all the classics like debit or credit (Visa/Mastercard/Maestro credit — if accepted in your region]) and bank transfers. Unlike the others, however, you’ll find more unique payment methods accepted here. Here you can use Entropay, Pay Safe, Payz, as well as cryptocurrencies like Bitcoin, Dogecoin, and Litecoin. This gives you a good variety of options to make your bets, although one option you won’t have is PayPal. Like Bet365 though, you’ll also have to verify your ID in advance to open up their entire range of options.
The minimum deposit counts for cryptocurrencies as well; you just need to convert the €10 to the crypto you’re using. Deposits are typically instant, while withdrawals can take up to 48 hours, and bank transfers can take up to 7 banking days to process.
Delving Deeper Into Each Online Betting Site Payment Method
Of course, there’s so much more to consider when choosing the best payment methods for online betting for you. The technology behind it, the security, the freedom each option offers are all things to consider, so we’ll delve deeper into each payment method to help you pick the best option for your needs.
Debit – The Universally Accepted Payment Method
Debit is the most universally accepted payment method in the world, which means that it’s also a great option for online gambling. It’s essentially a speedy bank transfer, since it deducts funds directly from your bank account, only without the delays, checks, or issues. You’ll be able to tell if your debit card can make online transactions if it has a Visa or Mastercard symbol on it (not to be confused with credit)
Credit – Universally Accepted, But With Strings
Credit is a tricky one, because technically, you’ll find you won’t be able to use a regular credit card on most betting sites. This isn’t just a preference on their end, either. Most creditors don’t allow payments to betting sites, and in some countries like the UK, it’s outright illegal. The good news is that we’ve rated many Mastercard and Visa bookmakers, and that the reason behind their acceptance of these ‘credit’ cards is simple – Visa and Mastercard are credit technologies. That’s why your credit agency isn’t Visa or Mastercard, but a bank or other lender. This also means there are a few instances where you can use ‘credit’:
- A debit card powered by a credit technology like Visa or Mastercard
- A prepaid credit card
Understanding eWallets – The Go-To Payment Option
Using eWallets comes with a few key advantages, starting first with convenience. Rather than input all your details, you just need to log in to these eWallet payment options. They’re also designed for mobile phone use and offer additional protection in the case of fraud. eWallets are widely accepted, making them a great pick to fund your bets. Keep in mind that you may need to first verify your identity before you can pay with any of these options.
PayPal is a widely used and accepted payment method – just not in the world of online gaming. There are exceptions, of course, and we’ve reviewed many of the top-rated PayPal betting sites so you know just where to go if this is your preferred way to pay. Using PayPal means faster payment processes, buyer protection, fraud protection, and even better budget management, making it a great pick.
Neteller is another hugely popular payment method, which is why we’ve reviewed and listed the best betting sites with Neteller support for your convenience. Neteller itself is a digital wallet that’s separate from your bank account. You can fund it with various sources, including pay-by-phone options, and then use those funds as you please. Unlike PayPal, Neteller can help to protect your identity when you use it online. Some betting sites even offer special bonuses just for those using Neteller to make deposits.
Skrill is very similar to Neteller. It also lets you fund it from multiple sources, and then use those funds to make deposits or payments. Skrill also tends to have lower fees than Neteller when it comes to converting currency, which can be useful for those betting in one currency who then want to withdraw it to another. Like before, we’ve collected and reviewed the top betting sites accepting Skrill, so if this is your go-to way to pay, you’ll know just where to go.
Apple and Google Pay are, once again, not payment institutions themselves, but rather a way to pay using your debit or prepaid credit cards. Both technologies have all the information needed to make transactions pre-saved, so the only thing you need to do to authorise a deposit or withdrawal is to input your code password, or use fingerprint or face ID. If the convenience of Apple Pay for example is ideal for you, then check out our top-rated Apple Pay betting sites.
Picking the Best Online Betting Payment Methods for You
The right online betting payment methods for you will boil down to convenience, need, and security. All payment methods offer these three characteristics to varying degrees. That’s why it ultimately depends on your preferences, and also which betting site you prefer. If you have access to a bank card, PayPal, and even Apple Pay, for example, but your favourite betting operator doesn’t accept PayPal, then it’s a simple matter of using one of the other two. Alternatively, you can specifically start a new account if there’s a bonus on your favourite operator that you want. Since it’s free to open any of the aforementioned accounts, you can easily open up a new account if it suits your bet strategy.
Great betting bonuses to check out
Online Betting Payment Methods FAQ
❓ Can I withdraw funds to a different account than I deposited them in?
It depends. Some operators won’t let you use separate accounts in order to minimise financial risk and money laundering; others will let you use different deposit and withdrawal methods. If you want the freedom of being able to move money to and from different accounts, use an eWallet like Neteller that acts as your payment’s base of operations.
🏦 What can I do if I don’t have a bank account?
If you don’t have a bank account, or alternatively don’t want to use your bank account, you can use PayByPhone, which lets you make payments through your phone bill. Not many operators accept Boku all on its own, however, so you’ll need to go through Neteller to make and withdraw payments.
👍 Why can’t I withdraw my funds?
You won’t be able to withdraw funds until you’ve fully verified your identity with the operator. Some operators even need to verify your address or financials. This is called “Know Your Customer” or KYC, and it’s a legal requirement that all betting sites must adhere to.
👏 The site says it accepts my preferred payment method, but I can’t use it. What do I do?
Some sites will lock payment methods until you’ve verified your account. If you still can’t see the option after verification, contact customer support.
😀 The amount I withdrew isn’t the same as what has arrived in my account – why?
There may be a discrepancy because there was a currency conversion involved in the process or because your provider extracted a fee. If you’re unsure, get in touch with the customer service team of both your payment method and also the betting operator for more details.
