Banking Options

Depending on where you are situated in the world, being able to create an account at online sportsbooks is not the only problem that arises for potential players, but finding banking options that you can actually utilize to fund your account. New laws are continuously passed when it comes to gambling, and some even prohibit financial institutions from processing transactions to online gambling operators. You also have the problem of high fees when using most services and trying to figure out which payment processor you actually can even make use of.

Here you will find a list of the most popular payment processors used by online betting sites and the ones that we recommend and use ourselves.

Recommended Banking Options

Free Deposits and Withdrawals
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  • High security
  • Plenty of deposit options
  • Swift transactions

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Free Deposits and Withdrawals
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  • Many deposit options
  • Fast transactions
  • Great customer service

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Great reputation
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  • Easy to use
  • Secure transactions
  • Long track recrod

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Instant and Anonymous
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  • Very fast transactions
  • Low cost fees
  • Anonymous transactions

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Why use alternative banking options?

Many of you probably are used to paying for things online using a credit or debit card, and that is the standard way most people pay for things online. When you are looking to bet online you need to fund your account before you can place your bets, and a natural way to do this would be to pay using your favorite credit card.

However, in most regions online gambling is considered illegal and the government has issued their local banks to block all payments and transactions to and from betting sites.

This means that you will not be able to deposit to your betting account using your standard methods. You need to take a step between depositing funds to the betting site. Here is where the choice of an alternative banking option comes into play.

Which Banking Option to choose?

As you can see, we have listed 4 different banking options above, all 4 which are methods we ourselves use and can recommend. But how do you choose which to use for your needs? We will give a brief overview over the different options and what the pros and cons of each are:

Neteller

neteller logoThe best option and what we use ourselves the most. Neteller works like an online bank account that you can use to pay and receive funds from many websites, including gambling sites.

It is a bit of a hassle setting up an account at Neteller as you need to verify it and verify your own identity, but once that is done most of the transactions are very swift. The security is very good here as well and we can highly recommend using Neteller if you want to bet on cricket online.

Skrill

skrill logoSkrill is very similar to Neteller. Actually, now they are both owned by the same company. So why choose the one over the other? Guess it should come down to your personal preferences. Most betting sites allows both at the same time and the fees are mostly the same with Skrill and Neteller. Their VIP programs differ a bit, as well as the design of the sites, but apart from that, same thing really.

PayPal

paypal logoThe famous online payment processor is still alive and kicking, and more popular than ever. PayPal is used by millions around the world to pay for goods and services, and most of that is thanks to their excellent customer protection service. If you get scammed paying with PayPal, they will go to long lengths of making amends for you. Besides this PayPal is generally an amazing website, with plenty of great options. Top alternative.

So why use Neteller over PayPal? Because the amount of betting sites that accept PayPal payments are still very small, and it also depends on which region you are situated in. So chances are you can’t use them even if you like the look of PayPal. So maybe you need to wait a little longer.

Bitcoin

bitcoin logoThe final option that we would recommend is a bit more difficult to use, but well worth if you take the time to learn about bitcoins. Basically it is like regular currency as USD, INR or EUR, but there are no physical proof of the money. It is all stored and used online. It is very easy to acquire Bitcoins, and you can transfer them immediately to and from your betting account.

Note that you should learn as much as possible about Bitcoin before you start using them. It is very easy to lose them or make mistakes when you are doing this for the first time, I did when I tried out my first 0.01 BTC. Luckily not a lot of money, but it still stings.

Other Banking Options

There are other methods that you can use to deposit money to online gambling sites if you have tried all of the above or want some other options. Here is a list of some other ways to fund a betting account:

Why Can’t I Deposit With My Credit Card?

There could be many different reasons for why your credit card is not accepted for payment, but the most common one is because the bank you have your credit card with has blocked all transactions to and from gambling sites. Be sure to check the local laws and regulations before you continue trying to deposit using a credit card.

If you are sure that it is allowed and should work, then maybe one of these issues might be the problem:

What are ewallets

Many that are betting online have taken up the usage of ewallets. This is a great alternative to credit cards for depositing, that might not be an option in your region, or bank transfers, which takes forever to process. By using an ewallet, you get safer, swifter and better banking options overall when it comes to funding your gambling accounts.

The way an ewallet works is that it basically is an online bank account. You send money to your account here just like you would send money to your friends or pay an utility bill. The reason this often is a good option for some players is that these ewallets allows you to transfer to and from online sportsbooks without any restrictions, as well as depositing and withdrawing to and from the ewallet from your local bank account is without restrictions as well, since these are often used for other things besides gambling as well.