Bookmakers Payment Methods

A very important part regarding bookmakers are payment methods, with 34% of bettors prioritizing fast and easy withdrawals in their search for the optimal bookie. With betting sites offering more than 20 different payment options, the real question is, which one should you choose?

Each option has its benefits. E-wallets, like Skrill or Neteller, give you 3x faster withdrawals than bank transfers, but the latter excel in security. Credit/debit card deposits are more popular, but lack anonymity. And let’s not forget about cryptocurrencies, that bridge the gap between all of them.

In this comprehensive guide, we are going to rank and compare the best payment methods offered by bookmakers. We are also going to reveal detailed information like charges and limits of each option, and help you pick the most suitable one for your needs.

What Are The Most Popular Betting Payment Methods?

According to recent studies, 60% of bettors are open to using alternative payment solutions in the future, instead of bank transfers and credit or debit cards.

This is because instant withdrawals are high in users’ needs and 73% believe it will be the norm. Let’s take a closer look at the most popular betting payment methods available and their pros/cons.

Paysafecard

This is perhaps the easiest and most straightforward bookmaker payment method. You can purchase a Paysafecard at a multitude of shops, or online and receive a 16-digit code.

Upon entering this code on the bookmaker's website, your account will be credited the amount the card was paid for. However, not all bookies accept paysafe cards and if you make a deposit through this method, you can only withdraw via your bank account.

Pros	Cons
Increased anonymity	Withdrawals not accepted
No risk of chargeback or theft	Low deposit limits
Good for responsible gambling

VISA / Mastercard

Card transactions are the most common deposit methods in online betting. Transactions between bookies and players are handled by third-party apps and all it takes is filling in certain information of your card on the deposit screen and proceeding with your payment.

Remember to never share the details of your card (such as your PIN), with unauthorized payment providers or any fishy platform.

Pros	Cons
High deposit limits	Gambling transactions might be blocked in certain regions
Widely accepted	Slower withdrawals
Fraud protection

Skrill

Skrill (formerly known as Moneybookers) is a handy e-wallet that can be used on pretty much any bookmaker in the world. It allows for higher limits on your deposits and withdrawals and it has a favourable program for VIP bettors.

For a small amount each year, you can obtain a Skrill Mastercard that can be used in order to withdraw money from any automatic transaction machine (ATM).

Pros	Cons
Accepted by most betting sites	Some bookies exclude it from Bonuses
Low fee VIP program (suitable for high rollers)	High fees
Exclusive betting promotions

Neteller

The Neteller e-wallet is also often seen on bookmakers’ payment methods, but it offers higher limits compared to Skrill. On rare occasions a bookie might charge you for using Neteller, in which case you are advised to use a different payment method.

You can obtain the Net+ Mastercard for a certain membership fee and withdraw money from your account through any ATM in the world.

Pros	Cons
Supports multiple currencies & crypto	Hefty currency conversion fees
Higher limits that Skrill	Doesn’t work with certain banks
NET+ Prepaid card available

Paypal

Paypal is the leading online e-wallet and one of the safest and quickest ways to move money around on the internet. Like any other e-wallet, you can use Paypal to deposit on your account with no added fees, while withdrawals are usually concluded within 24 hours.

Bettors using PayPal will have the security of a well respected company protecting their identity and funds.

Pros	Cons
Increased security with verification on each deposit	Not always eligible for Bonuses
No deposit fees in most sportsbooks	Low deposit limits
Handy mobile app

Bitcoin

Bitcoin is the king of cryptocurrencies. Growing as a legit betting payment method, in 2015 it was adopted by online casinos, allowing players to deposit and withdraw their funds without attaching their personal information. Its inherent anonymity is perfect for players who want to bet under the radar, or navigate stringent regulations.

Pros	Cons
Most anonymous solution - Hard to trace	Slower than other cryptos like Solana or XRP
No intermediary/bank needed	Not beginner friendly - Easy to make mistakes with
Available in most countries

Which Are The Top-Rated Bookmakers by Payment Methods?

How To Choose A Deposit Method for Betting

After reviewing and comparing some of the most notable methods, our attention steers into all the factors that need to be considered before selecting a deposit method for betting. We suggest you pay close attention to local availability, hidden fees and how fast and straightforward they can prove to be.

Availability of Online Betting Payment Methods

First and foremost, the banking option has to be available on your chosen bookmaker. That is a standard for traditional online methods such as credit cards, wallets and instant banking. However, options like Crypto and betting with mobile credit such as Apple and Google Pay can be limited.

That means you have to use a different method or find a bookie that offers your desired banking option. Most payment providers have introduced tighter gambling transaction requirements, leading bookmakers to operate with more conventional deposit methods.

Which Deposit Methods Have Fees?

Then, deposit fees come into play. While most bookmakers deposit methods are free of charge, you should keep in mind that some systems could levy a small cost. These costs can fall into two categories.

First, there could be a fee when you upload funds from your card or bank account to your wallet or cryptocurrency. Second, a charge when you deposit to your bookmaker with your preferred banking method. Multiplying that with your total deposits, it can have a significant effect on your bankroll.

Can I Bet With My Local Currency?

Also, there is the availability of your local currency. Some deposit methods offer only major currencies such as Euro, US Dollar and British Pound. If your preferred bookmaker deposit option is not provided in your local currency, you might be charged with a hefty conversion fee.

Most online betting banking methods have a fixed exchange rate, which is significantly higher than traditional banks, to make more money. However, wallets and fintech banks offer a multitude of currencies to avoid additional costs.

Are There Any Instant Betting Payment Options?

The payment speed is also critical, as you might want to place a bet in a game that starts in a few minutes. The great thing is that most bookmakers offer instant deposits; however, due to regulations, some payments might go under a brief review before they are processed.

Once more, betting payment options attached to a credit card or bank account could face more scrutiny than wallets.

Limits for Online Betting Payment Methods?

Minimum and maximum deposit limits can make the difference to the player as you might want to test a bookmaker with a small deposit first before sticking to it. Therefore, low deposit betting sites are essential for the players.

You can deposit as low as €/£5 and place a small bet to check if the bookie meets your expectations. Moreover, if you are a high stakes bettor, you want to place big wagers with no payment provider restrictions.

Are All Deposit Methods Eligible for Bonuses?

Welcome Bonus availability is another feature that could depend on the bookmakers' payment methods. Many bookmakers have restricted Skrill and Neteller from the sign up offers due to a history of bonus abuse and arbitrage betting.

You can work around this issue by making your first deposit with a debit or credit card, and your subsequent ones with your wallet.

What Is The ‘Non-Disclosure Of Details’ Policy?

Privacy of your bank details has risen as a major feature since tax authorities can require a full audit of your bank account from your financial institution. 

Traditional banking methods such as credit cards and bank transfers fall short in this area as all of your private data can be shared with both the bookmaker and public authorities. Crypto and wallets owe much popularity to the non-disclosure of your financial data yet.

Is It Easy to Deposit and Bet with an App?

Mobile betting accounts for almost 50% of the entire activity; therefore, a convenient and quick app is needed for players. Luckily, all payment methods offer tailored mobile apps that allow you to control your total spending on the move.

You can make deposits and place your live bets away from home as long as you have an internet connection and even cash out or ask for a withdrawal.

Do I Need Verification To Use Bookmakers Deposit Methods?

The deposit method you will opt to use plays a part in your verification process, on top of the standard KYC documents. In case you used a credit/debit card, a photo of the card's front side is required.

You will have to verify your details for wallets, with a screenshot where your name, e-mail and transaction to the bookmaker are visible. All bookmakers’ deposit methods have to be verified due to regulations and anti-money laundering laws.

Which Are The Different Types of Bookmakers Payment Methods?

If you want to go deeper into the topic, understanding each type of payment method is important. Every type has its own technical pros and cons which make it better (or worse) for certain bettors. Here’s how we break them down from easy to more complicated.

Bank Transfers

Starting from the good ol’ bank transfers, you basically ‘wire’ an amount directly to the bookie’s account. This method, although widely accepted, is characterized by deposits and withdrawals , which take 3 days each on average. Some high-rollers seem to enjoy the security here as no intermediaries can interfere on a multi-figure transaction, besides the bank itself.

Credit & Debit Cards

Instead of completing a lengthy bank procedure to top up your betting account, you can use your credit or debit card to deposit. This is the most common payment method in bookmakers, as third-party solutions make this process near instantaneous. Withdrawals on the other hand will take several minutes to reach your bank, with potential additional fees and scrutiny.

Prepaid Cards

Stepping up a notch, Prepaid card solutions like Paysafecard or Neosurf are also an option, although less popular. They can be bought online or in stores, with set amounts and then deposited to a bookmaker using the transaction code given. Although you are not tying your real bank account to anything, withdrawals are often excluded from this method.

Mobile Payments

Apple Pay and GPay are the two primary solutions in this category. These apps allow you to add your card on them and do payments with an extra layer of protection. Both are widely accepted by online bookmakers as payment methods and score faster deposits and withdrawals than traditional cards, without any fees.

E-wallets

Second only to cards, E-wallets such as Skrill, Paypal or Neteller are mobile apps, you can use for payments worldwide without a bank account. Since they cater to a worldwide audience, they can be the perfect tools to navigate georestrictions and are generally available by betting sites. Their main drawback is usual bonus exclusions.

FinTech (eBanking) Apps

Fintech are essentially legal banking apps that users from all over the world can access. Notable examples include Revolut and Wise. You can store your funds, invest or send money to anyone with minimal fees instantly. While offered by some sportsbooks, they tend to have strict rules against gambling which could limit your account.

Cryptocurrencies

Gaining virality and widespread adoption in recent years, cryptocurrencies like Bitcoin, Solana, USDT or USDC are the final boss of payment methods. They are widely accepted by online sportsbooks and combine instant transactions, anonymity and near zero fees. If you are just starting out, it would be best to take a good read on our crypto betting guides to properly set up.

Brokers

Lastly, players in certain regions need to use brokers like BetInAsia or Sportmarket to deposit to sites online. These brokers are intermediaries with their own vetting process, which means zero anonymity, the same waiting as with regular banks and added fees. This method can be substituted by any of the previous for more flexibility.

Which Payment Type Should You Choose? - Complete Comparison

After shedding some light on each payment method, we decided it’s best to compare them all together. In this table we covered all aspects you are interested in like, how long deposits/withdrawals to/from a bookie take on average, anonymity and potential charges that could be applied.

Payment Type	Avg Deposit Time	Avg Withdrawal Time	Anonymity	Charges
Bank Transfers	1–3 days	2–7 days	No Anonymity	Currency Conversion, B2B Fees
Credit & Debit Cards	5-30 sec	Up to 24 Hours	No Anonymity	Foreign Transaction Fees Could Apply
Prepaid Cards	10-30 sec	N/A	High	Card Purchase Fees
Mobile (Apple Pay, GPay)	5-60 sec	N/A	Low	No Fees
E-wallets	10-50 sec	Instant	Moderate	Currency Conversion
Fintech	15-90 sec	1-2 days	No Anonymity	Processing Fees
Cryptocurrencies	Instant	Instant	Fully Anonymous	Network Fees Could Apply
Brokers	1-3 Days	1-3 Days	No Anonymity	Processing Fees

What You Need To Know About Charges

Before we close this section it is important to note something that not many sites talk about. All gambling sites use payment solutions which charge them fees for each transaction.

In some rare cases, bookies charge users these fees (or part of them), in order to lower/mitigate the costs. These tactics are common among newer sites, so take your time and get in touch with the sportsbook to find out if they follow similar tactics.

Safety Tips for Online Betting Transactions

Regardless of the banking method you have chosen for online betting, there are certain security features that need to be in place, to ensure the safety of your account and funds. In this section we go over 4 key features you need to remember to stay safe online.

⏩ SSL: If the site you are betting has a ‘safe connection’ message, it means that it is secured by SSL. This feature, encrypts and protects your data, so all your payment details cannot be hijacked by potential hackers of the bookmaker.

⏩ 2FA: 2-Factor Authentication (2FA) is an option that every reputable payment method has. With 2FA you can basically ask for a unique code to be sent to your device after login/transaction to ensure that it’s really you taking action.

⏩ OTP: Similar to 2FA, One Time Password (OTP) is an option you can enable to receive a one-off code to access your account / transaction. Some bookies have this option as well, allowing you to login even when you don’t remember your pass. Just like with 2FA, make sure to never share this code with anyone.

⏩ Prepaid Cards: Finally, Prepaid Cards are a great tool if you want to take the eyes of your main bank accounts, or just want not to overspend. You load them up with a fixed amount of money, and only that amount can be used, mitigating the risk of a big loss or data theft.

How To Deposit In Any Bookmaker

If you are just starting out and need some extra help, don’t worry. Depositing to any online bookmaker is no different than purchasing something online. Below, we break down this process for you in an easy, step-by-step way. Here’s what you need to do:

• 1
  Go to your bookmaker of choice and create a new account.
• 2
  Click the ‘Deposit’ button and select the payment method you want to top up your account with.
• 3
  Enter an amount over minimum, claim a ‘Welcome Bonus’ and proceed.
• 4
  That’s it. Depending on the method chosen, the deposit should be in your profile within seconds/minutes.

How To Withdraw Your Winnings

Did you make some winning bets and want to enjoy your profits? It’s time to withdraw them. The process is similar to depositing but still some attention needs to be paid.

• 1
  After logging in, locate the Withdrawal tab, usually under ‘My Profile’.
• 2
  If it is asked by the bookmaker, make sure KYC is completed.
• 3
  Select the method you have deposited with and enter your desired amount.
• 4
  Confirm the transaction and you’re all done. These juicy winnings should reach your bank account soon.

Essential Information About Betting Payments

Over time we have received several messages from our readers regarding betting payments and intricacies around them, so in this part we will answer the 4 most asked questions.

Does Gambling Affect Credit Score?

One of the biggest concerns of bettors, especially the high roller ones, is disclosing personal details and betting activity to legal authorities. Gambling is not considered as responsible spending by banks, and such activity may prohibit you from getting credit or lower it.

Depending on your country’s regulation, authorities may request your betting transactions to check for possible money laundering or any violation of these laws. With fines imposed, it can quickly have an impact on your winnings. However, such cases are very rare and there are simple methods that can be followed to minimize the risks.

Can I Increase My Limits?

This is a question most often asked by high roller bettors. Transaction limits can be found both on payment method, as well as on sportsbook level. If you want to increase them on the banking side, the process usually involves an additional verification check (usually financial), so the user complies with AML policies.

On the other hand, bookies normally increase a player’s limits as he climbs the VIP ranks. It is a good idea to check each sportsbook's terms and conditions for maximum deposit & withdrawal amounts before registering.

Which Payment Is Best for My Country?

With new solutions hitting the market daily, your options when it comes to payment methods for betting will always be plenty. Gambling regulations vary across the world, therefore it is best to check if any banking restrictions exist in your country before making a pick.

We have created in-depth guides for gambling regulations, so dig in the dedicated sections and find out. In most cases, an eWallet like Skrill or cryptocurrencies cover all regions and types of bettors.

Can I Withdraw With A Different Method Than I Deposited?

In most cases no. Sportsbooks usually allow you to withdraw only with the same method you have deposited with. This is a standard part of the Anti Money Laundering policies they have to comply with in order to operate legally.

It is best to stay consistent and not mix payout methods on bookmakers, to avoid any extra scrutiny or account risks.

Our Experts Opinion: Which is the Best Payment Method for Betting?

Having tested more than 40 solutions, finding the best payment method for betting is something that differs per player and location. The regular debit card transfers work best on most sites, but it is best to use this one on locally-licensed sportsbooks to avoid any regulatory hurdles.

Ewallet solutions, like Skrill or Neteller, also do the job but fees can be off putting if you have a limited budget. In this scenario, Paysafecard is a good option, but you will need multiple codes to deposit a good chunk.

Finally, cryptocurrencies cannot be overlooked, as anonymity and higher limits have helped us on multiple occasions, but you need to get their gist before using them. If you need a bit more help, check this quick comparison.

Best For	Method
High-Rollers	Neteller
Fast Withdrawals	Skrill
Anonymity	Cryptocurrencies
Responsible Gambling	Paysafecard
Wide Acceptance	Visa/Mastercard