Payment Options

The purpose of this section is to outline the most common payment options offered by betting sites to transfer funds to and from online betting accounts. Punters should look for payment methods that suit individual preferences and are at the same time secure and cost effective.

To verify what payment methods are accepted by each betting site, please see our sportsbook review pages. Make sure to read and understand the policies and fees associated with deposits and payouts, if any, as well as the eventual payment limits and whether the method used to deposit restricts the method to be used for withdrawal.

Below are the most common options to deposit and withdraw money to and from online betting sites:

The most popular method to fund a betting account is through credit/debit card. A card deposit is processed immediately and credited instantly into the account, although you need first to register the card by entering your personal details as well as the card mumber, date of expiration and verification code. Most online betting sites do not charge anything for card deposits, with others you may incur an administration charge of a few per cent on the amount deposited. When you deposit by credit/debit card, it is common for online bookmakers to require that any subsequent withdrawal must be credited back to the card. Once you have equaled out the amount originally deposited, you may eventually choose to use other withdrawal methods. Reputable bookmakers use encryption technology and secure servers to protect card transactions, thus we want to assure players that using credit/debit cards on the internet is safe. For extra comfort, you might want to keep your credit limit low and change your card number every year or two.

Bear in mind that some banks, especially US banks, don't allow transactions to online betting sites. We advise punters to check gambling transaction policies with their cards issuing banks or companies.

The most used credit cards are Visa and Master Card, while popular debit cards include Visa Electron, Delta, Solo, Switch, Laser and Maestro.

Bank wires are a traditional and secure way to transfer money to and from betting accounts. Dating back prior to the internet, this method is still the preferred one by the online bookies themselves, as it presents no risks for them. It is also the favourite option of players transferring large sums. To send a bank wire you need to provide the bookmaker's banking information to your bank or do it yourself through a home banking service. Transferring funds via bank wire is not instantaneous. The process can take from 3-5 business days if you wire the money to a local bank up to two weeks if you wire the money to a foreign bank. For international transfers you may incur in bank charges, which most betting sites reimburse as long as the deposit is over a minimum amount of, usually, few hundreds euros. You should always remember to check if the bookmaker has a bank account in your country, as this will reduce waiting time and eliminate charges. When withdrawing funds via bank wire, you have to provide the bookmaker your bank account number together with the name, location and routing number of your bank branch. Charges and other terms are similar to the deposit process.

These are old-fashioned ways of sending funds and may not available to all countries. To deposit by cheque you need to send it to the bookmaker's mailing address via courier or regular mail. Most online betting sites do not accept personal cheques, but you may purchase a certified bank cheque (bank draft) or an international money order from your local bank or post office. Some bookmakers will reimburse you the shipping costs for cheques or drafts sent via Fedex or DHL. Remember that the cheque has to clear before the funds will be made available on your betting account. This procedure may take up to 7 days if the cheque is from a local bank or 3 weeks if it is from a foreign bank. When you require to withdraw by cheque, it is normally sent to the address registered with your betting account.

To make a deposit by Western Union, simply go to one of the numerous agencies they have in most countries or visit the online site. You will be given a tracking number, which the bookmaker will use to confirm the funds have been sent and are present. It usually takes between 30 minutes and 2 hours to have your deposit credited to your betting account. The transfer charges are directly related to the amount transferred. Most bookmakers will pick up the fees if your deposit exceeds a minimum amount of, generally, few hundreds euros. To withdraw funds using Western Union, the procedure is similar. The bookmaker will give you a tracking number, with which you'll have to go to a WU agency and pick up the cash.

Other popular money transfer services are MoneyGram and MoneyTT.

In the last few years, the internet betting industry has grown rapidly and alternative payment services such as online wallets and prepaid cards have emerged.

Online wallets are third party intermediaries that make easy and cost effective for punters to manage their online betting payments through easy to navigate interfaces offering multiple funding options, instant transfers, and low fees. Some online wallets (or e-wallets) simply require you to register an e-mail address and your personal details to immediately start sending or receiving payments online. Others are web-based accounts allowing the transfer funds to and from any participating betting site. Online wallets work in conjunction with traditional payment methods such as credit cards, bank wires and cheques, which you can use both to load your online wallet or to withdraw funds from it. Some e-wallets even offer ATM cards that you can use to withdraw funds almost everywhere in the world. The opportunity to manage all the betting transactions in one place together with minimum deposits which are generally lower compared to more traditional deposit methods, make of e-wallets the payment method of choice for many online bettors, recreational and professional players alike. Bear in mind that although these online wallets use modern security technology, there is not much they can do if someone gets access to your login details and uses them to fraudulently transfer your funds.

The most popular online wallets are: Moneybookers, Neteller, Click2Pay, PayPal, FirePay, MyCitadel, SolidPay, ClickandBuy, ewallettExpress.

Please note that following the passage of the Unlawful Internet Gambling Enforcement Act in the United States on October 2006, Neteller, Citadel and Firepay are no longer available for US bettors, while Click2Pay stopped taking new US customers. Another note goes to PayPal, which in 2002, after being acquired by eBay, stopped accepting payments for gambling services and agreed to pay a $10 million fine to US authorities to settle allegations that it aided illegal online gambling. In February 2006, Paypal Europe announced a deal with Betfair and later signed contracts with Ladbrokes and Bwin.

Prepaid cards allow punters to fund betting accounts without the need of giving away personal and financial details. Because they are prepaid, funding is limited to the nominal card value or to the amount placed on the card by the purchaser. Some prepaid cards can be bought at shops or news-stands, while others can be purchased online. Paysafecard and Ecocard have been operating for years on the European market, while EntroPay, a virtual online Visa card, and ePassporte, a prepaid reloadable Visa card, are more recent.

Other popular payment solutions include e-gold, an electronic currency backed by gold bullion, paybox, a mobile payment solution, and Ukash, a voucher that can be purchased for cash at local shops and then used online.

Online bookmakers also accept regional payment options such as 1-Pay (China), BPay (Australia), eNets (Singapore), Instadebit (Canada), Pay888 (China), WebMoney (Russia), Stone-Pay (China), 8Pay (China), BillPay (Ireland).