PayPal
PayPal has over 300 million users and has been a trusted brand for over 20 years. You’ll be able to make quick withdrawals with PayPal, but there’s plenty more to like about this banking option. PayPal’s focus on fraud protection, 24/7 monitoring and secure encryption technology makes it an excellent choice for users. Two-factor authentication can also be enabled for an extra layer of security. A six-digit access code will be sent to your phone number or email address whenever you attempt to log in which you will then need to enter into the PayPal login page. Alternatively, you can use external authenticator software such as that provided by Google, Microsoft or Authy. What’s more, it’s free to open a PayPal account and you can even link multiple bank cards to it at any one time.
Neteller
Neteller is an e-wallet provider available in over 180 countries and it’s pretty easy to understand why it’s so popular. You can expect instant deposits using the e-wallet as well as payouts processed within 24 hours at sportsbooks like 888sport. You even have the option of signing up for a Net+ Prepaid Mastercard which you can use to spend your Neteller funds both online and offline. You can also use the Mastercard at ATMs. The e-wallet also enables two-factor authentication on transactions, as you may sometimes be asked to use a 6-digit verification code that will be sent via SMS or email.
Skrill
Skrill is another e-wallet you can use to make fast sportsbook payouts, with punters from across the world choosing Skrill for the rapid payout speeds, industry-standard data encryption software and two-factor authentication available on the app. If you want to access your Skrill funds using a physical card, then the Skrill Prepaid Mastercard is the option for you. It’s free to order and can be used wherever Mastercard is accepted.
ecoPayz
ecoPayz has been in operation for over 20 years now, launching in England way back in 2000. Payouts are processed as quickly as 48 hours with several bookies and are completely free of charge. All ecoPayz transactions are encrypted to keep your personal information safe, but customers also have the option of utilising a one-use ecoVirtual card. This virtual payment option is only valid for one use after which it expires, meaning that should the details of the card fall into the wrong hands once it’s been used, there is nothing a thief or fraudster can do with them.
Pros and Cons
Pros and Cons of Banking with an E-wallet
Pros
Cons
Click on the banking section
In order to begin the process of withdrawing your money, you will need to click on the banking section of your chosen bookmaker. When you’ve done this, you’ll then need to select the amount you wish to withdraw, choose your chosen payout method and press withdraw. If you plan on using an e-wallet, then make sure that the payment option is supported by the sportsbook before you start playing.
Login to your e-wallet account
If you’ve selected an e-wallet as your chosen withdrawal method, you will be taken to the login page of that e-wallet. Here you will have to enter your email address or phone number in order for the payment to be processed by the e-wallet and betting site.
Receive confirmation
When your payment has been confirmed, you will receive a notification from your e-wallet provider either by email or SMS message. And once this has been received, then the transaction will be complete.
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FAQs
Is it free to sign up for an e-wallet?
Signing up to an e-wallet is indeed free, which means that all you need to get yourself registered is to provide your email address and/or phone number. PayPal is free for personal transactions where no currency conversion is involved. However, some e-wallets will attach fees to deposits made using certain payment methods. Skrill, for example, charge fees of 1% for deposits made using the majority of payment options, while companies such as Neteller will charge slightly more at 2.5%. You may also encounter withdrawal fees, which can be as high as 7.5% for Visa transactions with e-wallets such as Skrill.
Can I withdraw my funds using a different payment option than my deposit method?
That depends on the betting site you’re playing with. Some give you the convenient option of allowing you to deposit your funds using a debit card and withdraw them using an e-wallet, while others will require you to use the same payment method throughout. It is best to check out the terms and conditions of your favoured sports betting site before you make a deposit just to make sure you know how to withdraw them.
What is the most I can withdraw using an e-wallet?
The maximum withdrawal amount of an e-wallet will all depend on the individual withdrawal limit of each betting site. Some bookmakers will allow you to withdraw a large amount, while others will limit the size of payouts at any one time. Again, it’s best to check out the terms and conditions of the gambling site before you sign up just so you know how much you are able to withdraw if you land some sizable winnings.
What should I do if I have a problem with my withdrawal?
If you don’t receive your payout in the time specified by the betting site, or encounter any other sort of withdrawal problem, it is important that you get in touch with both the sportsbook and provider of your payment option. The customer support team at your chosen bookmaker will be able to give you more information on the status of your withdrawal request, while your bank’s support team will let you know if the request has been received and whether there is anything blocking the transaction.
Do online sportsbooks accept cryptocurrencies such as Bitcoin?
Cryptocurrencies such as Bitcoin are some of the widely-talked about banking methods available to online customers, with many able to make a profit from the cryptocurrency if it’s global value increases.Currently, only a few operators, such as 22bet, accept cryptocurrency deposits and withdrawals, but others may follow as more regulations are established.
Can I make a fast withdrawal of my bonus winnings?
This depends on the terms and conditions of your bonus. You may get a free bet or bonus for your first deposit. However, winnings from this aren’t always available to withdraw right away. While it’s more common at casinos, some bookmakers do stipulate that any bonus winnings must be subject to wagering requirements. For example, you may be given a 2x wagering requirement, with qualifying bets outlined as those placed on markets with odds of 2.0 or over. We recommend reading the fine print before claiming your bonus.
