Entropay is becoming increasingly popular with sportsbook gamblers looking for a secure way to get money into and out of a gambling site. We have used this service before and therefore have first hand experience of just how useful it is from the prospective of a frequent gambler.
What is Entropay?
Entropay is a prepaid card service that operates entirely online. You simply create an account, fund that account and then create virtual VISA cards to add that money to. These cards can be used online to shop and gamble, and unlike typical prepaid cards, it’s all done online.
Entropay works with a number of top sportsbooks, including BetFair and other industry giants. Unlike other prepaid cards, you can also withdraw winnings back to your Entropay cards, before spending that money elsewhere or withdrawing it to your bank account.
How it Works
After you sign up for an Entropay account, you need to register a credit card or debit card. You can then use this to fund up to 30 virtual VISA cards, which you can use on sites like BetFair. The site will not have access to any of your bank account information or your credit/debit card information, which means this information is never at risk. You can use that virtual VISA card many times over and you can also create others.
There are limits on withdrawals, with a minimum of $10 and a maximum of $10,000, and these withdrawals can take up to 3 working days to complete. Entropay also takes a small fee once you fund your virtual VISA card, but at no other time is a fee charged. This fee is very small and is inline with the amount of money you would expect sites like PayPal and Skrill to charge.
Entropay has many positives that set it apart from its competitors, along with the features that make prepaid cards such a popular payment method in this industry.
- Security: As a prepaid payment method, Entropay is a secure way to make transactions online. Some online gamblers are wary of giving their financial details to too many sites and leaving these exposed to potential hackers. With Entropay, they only need to leave those details on the Entropay site, and even if their virtual VISA is compromised, they only stand to lose the amount of money they funded, and their bank account details and credit/debit card details will remain safe.
- Funding: Getting money onto your Entropay virtual VISA is very easy and can be done in a matter of seconds. They accept a number of credit cards and debit cards and once you have a payment method setup, you can repeat the process with a simple click when you need to fund your card.
- Withdrawals: The feature that truly sets Entropay apart from other prepaid cards is the fact that you are not limited to deposits. The very nature of these cards often means that they are one-use things, but the fact that Entropay is virtual and does not exist in physical form, and the fact that it is classed as a debit card as opposed to a credit card, means that withdrawals are just as easy as deposits.
- Online Only: Although it causes a few small problems, the fact that Entropay is entirely virtual makes the process of funding, spending and withdrawing much quicker and much easier.
- Multiple Use: You can use the Entropay virtual VISA cards as many times as you want. A single card can make unlimited deposits and withdrawals.
- Multiple Cards: Whilst some prepaid cards only allow you to create one card per account, on Entropay you can create as many as 30.
There are a couple of niggling issues with Entropay. These are far from big problems and they are certainly not big enough for us to reject this service, but they are still worth mentioning.
- Reliability: Entropay is very reliable, and there has only been 1 occasion in which we suffered any frustration as a result of downtime or technical issues on their part. However, when you’re looking to make a deposit or a withdrawal, you want it done there and then, and any downtime on their part is very frustrating. No site is infallible, but for a service that operates entirely online, it is constantly threatened by that infallibility.
- Withdrawal Wait: On PayPal and other providers, it is possible to get withdrawals into your account instantly. On Entropay, however, there is a wait. This isn’t long, but on occasion you will have to wait as many as three working days, which could mean a 5 day wait if you withdraw on a weekend.