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    Webmoney and online betting – The fast & cheap payment solution from Russia

    webmoney-bookmakers-2017

    Webmoney are one of the most frequent payment methods, used in every part of the world on everyday transactions and boasting almost 30 million registered users. They were founded in 1998 in Russia and although their main focus consisted of countries located in the former Soviet Union, they have nowadays grown to a worldwide extent. Webmoney can be used in countless ways besides making a simple payment on an online vendor, including: sending money from one account to another, fundraising, linking it to your business account, obtaining a loan and obviously, in online betting. Residents in Russia can also receive a VISA/Mastecard or issue a virtual variant that can be used in numerous ways. The purpose of the following guide is to clarify how Webmoney can be utilized in online betting and view its main advantages and disadvantages.

    Webmoney and online bookmakers

    First of all, we have to mention that Webmoney is one of the safest ways of topping up your bookie account. They use the latest encrypting technologies in order to safeguard any transaction, while their endless resources and numerous cooperations with some of the biggest banking institutions in the world, are a clear testament of their attention to security. Every deposit is also completed instantly and although you will be subjected to a fee, it is rather insignificant, given that it amounts only to 0,8% of the funds you used. What makes Webmoney stand out, is the fact that you will be charged with just 0,8% on your withdrawals as well, meaning that it is one of the most cost effective ways of receiving money from a bookmaker. Finally, a great number of bookies will accept a payment through WMZ or WME (the dollar and euro equivalents on your WM purse).

    Additionally, you can claim a first deposit or a reload bonus on any betting company that accepts WM. However, make sure to read the terms and services of your bookie, especially concerning withdrawals, given that you can only receive your money via the same method you used on your last deposit.

    Τop 5 bookmakers that accept Webmoney

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    Creating an account

    You must first enter www.wmtransfer.com. Following that, click on the Sign Up button located on the top right of your screen and fill in the various information required on the following steps. These include your mobile number, personal details such as date of birth, e-mail account plus a security question. On the next steps you will have to verify your mobile number and create a password before you are good to go.

    Verifying your account

    In order to add funds on your WM purse or make a withdrawal, you must first verify your account. Apart from your mobile verification, where you have to enter a specific code sent to you by the Web Money server, you must upload certain documents to start using the Webmoney Transfer.

    You will have to log in to passport.wmtransfer.com and choose to “Upload a new document” from the control panel. On the next step, press browse and select a photo or scanned copy of your ID, passport etc and specify what your selected document corresponds to. Following that, you can view your uploaded files on the “list of documents” on the control panel, which upon having been verified, will be marked in green with a “ symbol.

    Making a deposit

    In order to make a deposit you must go to the payment section of your bookmaker and find the Webmoney Transfer method. You need to enter your desired amount, follow the on screen instructions and click on the confirm button. Your funds will be instantly added at a slight charge, usually set at 0,8% (different rates may apply to larger amounts).

    If you wish to top up your WM account you can do so through a credit/debit card, a bank wire transfer or by making a deposit through a cashier on your bank. Note that transactions between WM members, are free of charge, while the following charges apply when depositing on your account.

    MethodTermAgent’s fee
    By an advance payment WME-cardImmediatelyUpon agreement
    Exchange at the exchange wm.exchangerImmediatelyUpon agreement
    Exchange by electronic currencies of other systemsUpon agreementExchange point fee
    By bank transfer
    (more than 10 000 WME)
    1-3 banking daysBank’s fee
    By bank transfer
    (for individuals less than 10 000 WME)
    1-3 banking daysBank’s fee
    NETTO terminals Processing in MoldovaImmediately0 (at agent’s rate)
    By bank transfer onlineImmediately2%
    In cash at banks’ branch officesImmediately2%
    At TelCell Terminals in ArmeniaImmediately3%
    In cash via the money transfer system CONTACT10-15 minutes2% (minimum 3 euro)

    Making a withdrawal

    Whenever you wish to receive your money, you simply have to go to the payment section and choose the Web Money method.

    Webmoney offers you a multitude of withdrawal methods from your WM account. You can make a withdrawal through a bank account, credit/debit card, your Web Money credit card (issued upon request for Russian customers) and even on certain e-wallets (eMoney, Qiwi and Paypal) through the Exchanger service. You simply need to go to www.webmoney.ru/eng/inout/withdraw.shtml and select your preferred method. You will be charged with the according fee.

    MethodTermAgent’s fee
    By an advance payment WME-cardImmediatelyUpon agreement
    Exchange at the exchange wm.exchangerImmediatelyUpon agreement
    Exchange by electronic currencies of other systemsUpon agreementExchange point fee
    By bank transfer
    (more than 10 000 WME)
    1-3 banking daysBank’s fee
    By bank transfer
    (for individuals less than 10 000 WME)
    1-3 banking daysBank’s fee
    NETTO terminals Processing in MoldovaImmediately0 (at agent’s rate)
    By bank transfer onlineImmediately2%
    In cash at banks’ branch officesImmediately2%
    At TelCell Terminals in ArmeniaImmediately3%
    In cash via the money transfer system CONTACT10-15 minutes2% (minimum 3 euro)

    Pros & Cons of using Webmoney

    The advantages and disadvantages of using the WM services can be summed up to:

    Pros

    • Safety. Every transaction uses the SSL encryption, guaranteeing that your financial details remain private
    • Speed & ease of use. Deposits are pretty straightforward and completed instantly
    • Low charges. Webmoney charges a certain commission on every transaction, however those fees are insignificant when dealing with bookmakers
    • Bonus eligibility. You can receive a first deposit or reload bonus by using Web Money
    • Accepted on many bookmakers. A great number of betting companies will accept a deposit through WM

    Cons

    • Limited services for non Russian customers. However, many improvements have recently been made on their website
    • Fees on deposits. Although these amount to a mere 0,8% of your deposited funds, you still might wish to avoid being charged every time you top up your account.

    Where to bet with Webmoney

    BookmakerDeposit Charge Withdrawal Charge  
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