Betting Payment Methods: A Look at Your Online Betting Payment Options

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Published: Feb 8, 2024 - Last Updated: Jul 24, 2024

Before you start betting online, make sure you know online betting payment methods accepted by specific betting sites. This is important because some betting sites might not accept the way you want to pay. Knowing this beforehand ensures you can easily make deposits and withdrawals on betting sites without any hassles.

In this article, we are going to talk about various payment methods that most popular betting sites usually accept.

We’ll also analyze the pros and cons of using each of these betting payment methods so that you can figure out which one is right for you. Plus with a quick look at how to actually use these online betting payment methods, you’ll have all you need to safely and efficiently fund your bets.

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Most betting sites will include a good variety of payment methods that you can use to make your deposits and withdrawals.

Such payment options will vary according to where you are playing from, but here are some of the most common betting payment providers:

1. Debit Cards

The downsides of using cards at betting sites include the fact that card withdrawals can be pretty slow and you might have to wait anywhere between three and five working days to get your money. Plus it’s not exactly too convenient to have to type in your long card number into a betting site before you can put your esports bets down.

online betting payment methods
Image: Shutterstock/Kite_rin

2. Bank Transfers

It’s worth mentioning that Trustly betting sites offer you a faster and more convenient way to make online payments from your bank account. Just be careful, when making payments direct from your bank account because it can be all too easy to accidentally overspend.

3. E-wallets

The interesting thing is that more e-wallets are being released all of the time and each one will have different benefits and rewards. So whether you want to use Astropay betting sites or one of the growing number of Mifinity betting sites, you should have an easier way than ever to fund your esports bets.

Overall, e-wallets are considered to be the faster betting payment method than cards and bank transfers.

4. Prepaid Cards

The main downside of using prepaid cards at betting sites is that you can rarely make withdrawals back to these cards. Plus it’s common to find that you cannot claim some betting welcome bonuses if your first payment is made with a prepaid card like Paysafecard.

5. Mobile Payment Methods

Given that so many people now like to bet online via their smartphones and tablets, it’s little surprise that mobile payment methods will start to become used for online betting.

As a result, you will now find an increasing number of Apple Pay betting sites for iOS users and Google Pay betting sites for Android users.

While there is still some way to go before these become commonplace, and you’ll have to use another payment method to fund these options, they are very promising.

6. Country-Specific Payment Methods

We’ve found that certain payment methods are tied to certain countries. For example, if you want to bet on esports from Canada, you’ll be able to use a variety of different Interac betting sites and benefit from the speed of this innovative e-wallet.

Conversely, other payment methods are less country-specific and this could be the reason why Jeton betting sites have found success in so many areas of the world. So be sure to check the payments page of the betting site that you are thinking of using to see how they cater to your locale.

GG.Bet’s payment methods are a good example of this. When accessing GG.Bet’s deposit and withdrawals page you’ll notice that the options available will be tailored to the country you reside in.

7. Crypto and Emergent Payments

Methods of making payments online change as we evolve digitally. One relatively recent innovation is the crypto method of payment.

There’s been an increase in crypto betting sites that accept Bitcoin, Ethereum, Tether, and a host of other coins, which guarantee safety through anonymity with low transactional fees in a short time frame. Our review of the BC.Game crypto casino and sports betting sites revealed that an incredible 40+ cryptocurrencies were accepted. These ranged from mainstream coins like BTC and ETH to other lesser-known coins like ARB, CRO and ATOM.

sport betting online payment methods crytpo
Image: Shutterstock/Mykhaylo_Kozelko

There are also biometric payments – using things like fingerprints or facial recognition for transaction authorization purposes. This technique offers assurance over better security alongside ease of use hence one of the trends to watch out for in the coming years.

It’s Good to Analyse a Betting Site’s Payment Methods

To enjoy esports betting, you will have to make a deposit that is then used to fund your bets. Similarly, once you have made some winnings from your bets, you’ll then want to withdraw your winnings.

You will want to do this in a secure, quick, and simple way. However, not all betting sites’ payment methods work in the same way, and not all betting sites feature the same payment methods. That is the reason, we prepared this guide to help you find the best payment methods accepted at most popular betting sites.

Security Tips for Secure Transactions on the Web

Finding Your Perfect Betting Payment Method

Now you understand the importance of knowing the best payment methods for betting sites and have familiarized yourself with the list of recommended betting payment methods that we shared earlier in this article. Thus, it is time for you to determine which one is the perfect payment method for you.

However, the following factors might make one payment method a better choice than others in terms of how it applies to your esports bets:

Processing TimesIt’s always interesting to see how fast different betting payment methods compare. Some payment methods allow you to make instant deposits but it could take a few working days for your withdrawals to come through. Don’t forget that most betting sites will have a fixed processing period that they use to process your payout requests.
LimitsYou will often find that different online betting payment methods have different limits for how much you are allowed to deposit and withdraw. You will want the freedom to deposit and withdraw however much you want. Just don’t forget to apply whatever deposit limits are available to ensure that you are always gambling responsibly.
FeesOn the whole, you should rarely have to deal with any fees from the betting site itself regarding your deposits and withdrawals. However, you might find that some charges come from the payment provider itself. Such charges may be minimal but they can all add up over the long term. As a rule, we’d recommend avoiding those betting sites that charge fees for your deposits and withdrawals.
Bonus AvailabilityYou should know that some payment methods cannot be used to claim certain deposit bonuses. As such, you might find that if you deposited with something like an e-wallet or a prepaid card, your deposit won’t qualify for a sign-up offer. So make sure that you read through the terms and conditions of any deposit bonus before you put your money down.
Withdrawals PossibleMost betting payment methods can be used to make deposits and withdrawals. However, if you want to use a prepaid card, then you might find that you have to make a withdrawal via another payment option. Similarly, some betting sites will let you make deposits with certain payment methods like debit cards, but you won’t be able to make a withdrawal back to that card.
Ease of UseNobody wants to have to jump through too many hoops to make a deposit or a withdrawal at a betting site. This is why the best betting payment methods allow you to move your money around just by submitting a minimal amount of personal information. A big reason why so many people now prefer to use something like an e-wallet, rather than entering in their bank information every time that they want to make a bank transfer.
SecurityIt doesn’t matter whether you are into CS2 gambling or just want to bet on LoL, as you’ll need to know that your chosen payment method is safe. As such, you should pick a payment option that has a good reputation and can show that it can fully encrypt each deposit and withdrawal that you make. Plus make sure that the betting site can adequately safeguard your deposits.
Currencies AcceptedYou might find that certain esports and fantasy betting payment methods may be available for specific currencies and not others. So make sure that you check with the betting site that you are thinking of using to see if you can use that payment method in anything from USD and CAD to GBP, AUD, or EUR. Plus you should be aware of any currency conversion fees that you’ll have to pay because these could put a big dent in your betting budget.

Using Payment Methods at Betting Sites

The good news is that it’s fairly simple to make your deposits and withdrawals at betting sites, and the payment process shouldn’t vary too much according to the payment method that you use.

So here is a quick walkthrough of how you deposit at a betting site:

  1. Log into your betting site account by entering your password and email or username
  2. Navigate to the cashier section in your account
  3. Click on the deposit button
  4. Select which payment method you wish to use
  5. Enter the amount of money that you want to deposit
  6. Complete the required payment information such as card numbers or passwords
  7. Submit your deposit

Once you have done this, you should find that the money should show up pretty quickly in your account. Now you can simply start betting without delay.

See also: Betting sites with low deposit requirements

Making Your Withdrawals from a Betting Site

After you have made some winnings, you’ll be ready to make a withdrawal. Most betting sites will prefer to pay you back to the same payment method used for your deposits as this helps against illegal activities like money laundering. This is the prime reason you should select payment methods at betting sites that can be used both for deposits and withdrawals.

As such, you should be able to log into your account, go to the cashier section, find that your preferred payment method has been selected, enter how much you want to withdraw, and then submit your payout request. Once you’ve done this, it’s just a matter of waiting until your winnings show up in your account.

Mastering Payment Methods for Betting Sites

In this guide, we have explained that there are plenty of excellent online betting payment methods for you to pick and choose from. Whether you are going to keep it simple with something like a debit or credit card or prefer to seek one of the more innovative options, it means that you can enjoy making secure and speedy deposits and withdrawals.

Of course, you have to remember that new betting payment methods are being introduced all of the time. So watch this space to see which esports betting payment methods you should be using in the future.

Header image: Shutterstock/Ti_ser

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Luke Warr
Luke Warr

Since: April 6, 2022

Luke is an esports content specialist, with in-depth knowledge and passion in Esports & iGaming markets, with over 5 years of experience in emerging technologies in relation to crypto, blockchain, AI and esportsbooks.

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