It’s no secret that betting has always been an integral part of sports. Betting on horses, football games, tennis matches and so much more has been a popular addition to your average game, however it hasn’t always been quite as easy as it is now. We live in an incredible digital age, with incredible technologies right at our fingertips, and it’s certainly changing the world of gambling for the better. With better access to sportsbooks and online tipsters, choosing where to put your money has never been more profitable or as accurate, but the improvements don’t end with the odds.
The sheer number of ways we can deposit and withdraw our funds on online sports books is consistently growing, with new and more efficient methods being introduced each and every day. Understandably, with the number of methods available, finding out which are the most popular and the most secure can be overwhelming – which is where we come in. Here, we’re exploring the most popular transfer methods for sports bettors in the UK.
Credit/Debit Cards
Using your credit or debit card to make withdrawals or deposits is one of the most popular methods of payment online, and essentially one of the easiest you could use. This is the process of filling in the relevant details from your bank card online in order to transfer the money from your account to the site. You’ll usually need your credit card number, expiration date, and the security, or CVV code, which can be found on the back of your card in the signature box.
This is the method of payment that practically every sports book will accept. Due to the common practice of paying via card while online, bookmakers that don’t accept credit or debit cards will either have a specific niche (e.g. Bitcoin sports books), or may not be directly trustworthy. This near-instant method of payment is one of the most secure methods too, however it’s important to be cautious of potential scams or unlawful sites.
eWallets
While credit and debit card payments may be secure, e-Wallets are even more so and are becoming an increasingly common method of transfer for sports books. This payment method offers a barrier between your bank account and the betting site, essentially acting as another source to keep you, your money and your details safe.
One great example of this is PayPal. Until recently, not many betting sites accepted PayPal, but demand has ensured that more and more sportsbooks are accepting this method of payment than ever before. With payments being as simple as joining your card to your PayPal account, and then entering your PayPal email and password when you come to pay online, there is no need to continuously enter your card details, and with the added security, the popularity of this payment method is only set to keep rising in the future.
E-Checks
E-Checks aren’t quite as popular as card payments or e-Wallets, but they certainly aren’t something to be overlooked. E-Checks, or electronic checks, are simply a digital version of standard paper checks but can be used to make payments online. If you have a checking account, you’ll be pleased to know that it’s as easy as simply supplying your bank routing number, your bank account number and the name on your bank account.
However, while this method is certainly secure, it’s not fast. The money isn’t instantly removed from your account like it may be with other methods, which could ultimately prove to be more of a hindrance than a help.
Money Orders/Wire Transfers
If you’re looking for security, then money orders or wire transfers are certainly the method for you. Bettors looking to deposit large amounts of money may find that wire transfers have higher limits than cards or e-Wallets, and that there are lower fees for larger payments than there may have been with credit card payments depending on the bank and betting site that you are using.
However, just like e-Checks, they may take longer to transfer. It could take a few days for the money to leave your account and appear on your site, so if you find yourself in a rush or wanting to place a bet quickly to make the most of great odds, then this may not be the ideal method.
Bitcoin
Unless you’ve been living under a rock, you’ve likely heard of the phenomenon that is Bitcoin, and if you already know about this incredible cryptocurrency, you may be pleased to know that more and more sportsbooks are starting to accept it as a method of payment. While this isn’t available at many currently, the popularity of this digital currency means that the idea is quickly gaining traction and its decentralised nature opens up sportsbooks to bettors from more and more countries around the world.
If Bitcoin is the payment method you’re looking to use, you may need to seek out a bitcoin-specific sports book. These sites are usually set up entirely for Bitcoin or cryptocurrency payments, and as a result, they specialise in secure, fast and efficient payments using this method. Of course, using Bitcoins as a payment method does require you to actually own bitcoins, but for those that do and are searching for an anonymous way to bet, this could be the solution for you.
Making transactions within sports betting is easier than ever with new technologies and faster payment methods right there at our fingertips. Whether you’d prefer to stick to more traditional methods such as credit card payments, or you’re looking to venture into the world of e-Wallets or Bitcoins, there is something out there for every curiosity and every need. All you have to do is pick your team, find the odds you like, and place your bets!