Neteller is an e-wallet that can be used to complete any online purchase or fund your betting account, on almost every bookmaker. You can quickly make deposits or withdrawals to your bank account, transfer to other Neteller users and withdraw your money by using their pre paid card (Net+ card) on any ATM. They were founded in 1999 in Canada and five years later moved their offices to the Isle of Man. They have ever since become one of the most frequently used e-wallets in the world, especially among punters, while the real breakthrough, came in 2015 when they acquired the Skrill Group, through their parent company, Optimal Payments (now Paysafe Group). Given that they are not considered a banking institution, Neteller are obliged by the FCA to maintain the balance of every account in separate trust accounts, in case their users wish to make an impromptu withdrawal. On this article we will primarily focus on how you can utilize Neteller’s services to make the most of your betting activity and gain an advantage against the bookies.
Neteller & Betting
Ηigh limits and instant deposits
Neteller allows you to instantly deposit and withdraw money from your betting account. This means that if you are registered on a number of bookies, you can make a quick deposit and claim the best odds in the blink of an eye. You can also withdraw your money in the same manner, after having won an impressive bet, or because a betting opportunity might have arisen on another bookmaker. Additionally, Neteller has the highest transaction limits compared to most e-wallets, which can prove quite handy on high stakes bookmakers such as Pinnacle.
Betting on more than one betting company
There are countless reasons as to why your betting options should not be limited to a single bookmaker. It is also important that you can quickly claim any profitable opportunities, by making a quick top up, even if that means withdrawing money from another bookie account. Let’s take a look at an example:
Suppose you have decided to bet on the English Premier League match between Sunderland and Watford. You have 200€ and are wondering which company you should choose to bet on the outcomes of an away win and a draw.
Bookie A offers the following set: 1 (2.37) X (3.20) 2 (3.00) while Bookie B gives you: 1 (2.50) X (3.40) 2 (2.80). If you were to place two split bets on Bookie A, you would earn 220€ in case of a draw and 200€ if the away team wins. The same wagers on Bookie B would give you 240€ for the “X” and 180€ for the “2”. It can be easily concluded that if you limit your options to only one bookmaker, even if you do manage to win, you are most likely not getting the best possible odds. In the long run, this is bound to affect your bankroll.
Besides looking to claim the best odds, you might be searching for your favorite betting market. For example, you may find that the selections are limited on a certain tennis event, which will force you to either bet on a market you did not intend or abstain from punting on that match. In order to avoid such an outcome, you can instead use Neteller to quickly top up your account on a bookmaker that specializes on tennis events and enjoy the game. Betfair offers the most extensive sportsbook on tennis betting, with dozens of markets in every match.
Avoid bank transactions
Neteller lets you avoid using your bank to complete any transaction with a bookmaker. This can prove to be quite handy for three reasons. Firstly, it allows you to instantly deposit and withdraw money, a process that would take a few days when concluded through your bank account. Secondly, there is a small chance your bank might reject a deposit on a bookie, due to a random reason. This is guaranteed to never happen if you use an e-wallet. Lastly, you might not wish to share your bank account’s details with a betting firm, given that you can never be too sure with that kind of information. Neteller allows you to make such transactions incognito, without having to share private information.
Sure bets or arbitrage is a betting strategy that requires you to utilize the best possible odds, in order to make a guaranteed profit, regardless of the final result. This means that you have to act quickly in case you spot a profitable deviation between two or, perhaps three bookmakers, in order to claim those added value odds. By using an e-wallet you can make a deposit and place your sure bets in no time.
In some rare cases a bookie may start to act suspicious towards a Neteller user, especially if they make a full withdrawal immediately after having won a high stakes wager. They will consequently place certain limits on the maximum amount a punter is allowed to bet, in order to minimize their losses to arbers and bonus hunters, who most likely won’t stick around to rebet their money.
Τop 5 bookmakers that accept Neteller
|Bookmakers||Why to Bet||Rating|| |
Ηow to create an account
This won’t take more than a couple of minutes.
Step 1: Visit www.neteller.com and click on the “Join for free” link on the top right hand corner of the screen.
Step 2: Enter the required information on the according fields and make sure to choose the right currency, as this option cannot be altered afterwards. As on any other online registration form, you should create a strong password containing various numbers, letters and symbols, in order to safeguard your account.
Step 3: Upon having submitted the form, you will be transferred to another screen where you will find a “6” digit number, that will act as your Neteller id. Make sure to keep this number in a safe place, as you will need to use it as a referral on every transaction.
There are five ways of verifying your account:
Bank account. The link to register a bank account can be found in the “Account Summary” section,under the “Register Bank Account” link. On the first page you can view the necessary steps you need to follow in order to complete the registration and verification of your bank account. On the second page, you will be asked to provide your bank account’s information: ΙΒΑΝ, Βank name, city and country, currency of the account, bank phone number, SWIFT (BIC) code, Goverment ID Card
Address Verification document. Submit a scanned copy or photo of an official note, such as a gas or electricity bill. Your name and address must be clearly visible.
Passport or ID. Submit a scanned copy or photo of your ID or passport. Make sure to take a picture of both sides.
Driver’s License. The same as the above.
Permanent Residency Card. You can send a photo or scanned copy of your residency card if you lack any other kind of ID.
Deposit and Withdrawal fees
You can view every transaction methods and any added fees, on the following table:
|Deposit Method||Fee||Withdrawal/Transfer Method||Fee|
|Credit/Debit Cards||1.90% – 4.95%||Neteller Mastercard||1.75%|
|Bank Tranfer||Free||Bank Transfer||7.5€|
|Fast Bank Transfer||1.5%||Bank Draft||7.50€ -25.00€|
|International Bank Transfer||Free of Charge||Merchant Sites||Free of Charge|
|Receiving money from another user||Free of Charge||Sending money to other user||1.9%. Cap: $20|
|Skrill||3%||Merchant Sites||Free of Charge|
*Charges from 2.99% -3.99% for any transaction that includes a currency conversion
Neteller has more than 15 years of experience on completing online transactions and as a result, has always striven to create a secure platform for every user. Every deposit or withdrawal you make is guaranteed to keep your personal and financial information private.
Additionaly, Neteller secures every data using the latest encryption technology. They supplement this security by engaging with Visa and MasterCard for the “Verified by Visa and MasterCard Securecode” programs. Each time you make a deposit through a card by either of these two companies, Neteller’s security check requires that you input a pre-defined password in order to ensure that it is not a fraudulent payment.
Furthermore, under the laws of UK’s Ministry of Finance, Neteller is obliged to limit its services to completing online transactions. This means that they can not lend any money and that they have to keep each account’s balance stored on a separate bank account, in case a customer decides to make a withdrawal.
Regardless of your preferred payment method, you should always make sure that you keep the details of your account private and stored in a secure place.
If you wish to make online purchases on vendors who do not accept payments through e-wallets, or you want to withdraw money easily from your Neteller account, then you should get the Net+ Mastercard. All you have to do is go to their website, click on the “Net+cards” link on the left side of your screen, choose your currency and click on the confirm button. You will be asked to provide a one-off fee of 10€ and wait for about for 21 business days before you receive your netcard. You can use your Neteller Mastercard to withdraw money from any ATM, use it as any debit card and keep your banking and personal information private. If you are a VIP member, you can hold two (2) cards in different currencies and avoid any exchange charges.
If you plan on spending big, you might qualify for a VIP membership. There are five different levels split between Bronze (10.000€ per year), Silver (50.000€ per year), Gold (100.000€ per year), Platinum (500.000€ per year) and Diamond (2.000.000€ per year). You can win various rewards on each level, ranging from higher limits to additional currency accounts. Feel free to view the rewards here.
Pros & cons
To sum things up, the services of the Neteller e-wallet can be broken down to the following advantages & disadvantages:
- Accepted on almost every sportsbook
- Instant, free of charge deposits on your betting account
- Instant withdrawals through the prepaid Net+ Mastercard
- Minimal withdrawal fees
- High deposit and withdrawal limits
- VIP Program that allows you to keep two accounts
- Added security through the 2 Way Authentication
- You will be charged with a certain fee when you send money to another Neteller user
- A certain fee is imposed for any transaction between two Neteller accounts
- Arbitrage reputation. Certain bookies act a bit suspiciously towards bettors who use Neteller on their deposits. This is due to the fact that alongside Skrill, they share a reputation of being frequently used by betting bonus hunters and arbers, who sometimes will withdraw their money and never punt on the same betting company.
Bookmakers that accept Neteller
|Bookmaker||Deposit Charge||Min. Deposit||Max Deposit||Pending Time||Withdrawal Charge||Min Withdrawal||Pending Time|
|Free of charge||1€||Instant||Free of charge||2€||15 minutes||Claim|
|Free of charge||€10||No limit||Instant||Free of charge||€10||A few hours||Claim|
|Free of charge||10$||No limit||Instant||Free of charge||25$||1-4 hours||Claim|
|Free of charge||$20||$5000||Instant||2 Free/28 days||$1||Up to 48 hours||Claim|