In one of our previous articles, we wrote about the most popular banking options at online sportsbooks. In that article, we stated that every sportsbook in the world has different banking options that they offer to their customers. A significant number of operators accept at least one eWallet. But many of them accept all popular eWallet companies and some newly opened as well.
So, if you want to make your sportsbooks deposits via this method. Read our comprehensive guide! And find out why it is good to use this method, and what are the downsides of it.
General information about the eWallet
eWallets or digital wallets are online electronic wallets where bettors can store their funds. And through them, quickly transfer money, purchase goods, or make deposits to online sportsbooks.
Many bettors prefer this type of deposit and withdrawal method, as it is fast and secure and also widely accepted at most top online betting sites.
In this article, we will write about several most popular eWallets. And underline all the advantages and disadvantages of the eWallet payment method in online sportsbooks.
How to Open an eWallet Account?
Opening an eWallet account is rather easy and straightforward. Whichever eWallet company you choose, you will need to enter and finish the registration process before you will be allowed to load your money into an eWallet account. Still, before you start, there is a couple of things that you need to know.
First of all, despite the registration process is rather easy if you are not prepared, it might take you several days to set up and verify your eWallet account. The most common problem with verification of your eWallet account is to prove your identity. That’s why it is important to have scanned your ID card, passport, or any other personal card with a picture. Also, one proof of your residence in the form of a utility bill, mobile phone bill, etc. Having these documents scanned and prepared, you will shorten the period of verification.
Once when you manage to open and verify your eWallet account, you will be able to load the money into your account.
Before you do that, we suggest you read the Terms and Conditions of a few respectable eWallets! And determine which of those have the best transaction fees. Transaction fees at each eWallet are totally different.
Another important fact that you need to check before you set-up your account is whether the specific eWallet accepts people from your country, or if they are sportsbooks friendly.
Some eWallets, such as PayPal and Neteller can be picky! When it comes to particular sportsbooks, online casinos and the countries they deal with. If your country has strict online gambling regulations, you might be prohibited from set-up an account at some eWallets.
Here is the list of some of the most popular eWallets for sports bettors around the world:
Skrill (Moneybookers)
Skrill (formerly known as Moneybookers). Is one of the most popular eWallet companies in the world but also engaged in global money transfer services.
Over the years, this company has managed to keep itself at the forefront of the industry involved in this type of service, despite the occasional problems with its customers. Primarily due to the somewhat rigid business policies and sometimes high fees they charge for their services.
The main advantage of Skrill over the competition is certainly the ease of managing the site, as well as the ability to pay for a large number of services and goods online because many online stores and sportsbooks accept Skrill as a payment method.
What’s more, just because of the large selection of online stores and sportsbooks that receive Skrill, this company is currently more popular than its big competitor, PayPal.
We think that there are not many safer and faster ways to make payments and claim payments from sportsbooks and casinos than Skrill. This eWallet has been one of the leaders in the world market for years, and for a reason. If you want to know more about Skrill eWallet, we suggest you read our article about this excellent money transfer service.
PayPal
Without any doubt, PayPal is the most famous name among eWallet companies in the world. At the moment, they have over 230 million accounts in 190+ countries and regions. PayPal is free to use, and in recent years it has become a popular depositing method by many top sportsbooks. Unfortunately, PayPal as a deposit method is limited to countries outside the United States of America, Canada, and Australia.
PayPal has strict policies when it comes to the sportsbooks, as they have very high standards, and don’t accept payments and withdrawals from un-licensed and un-regulated sportsbooks.
This is positive, as when you find the sportsbook that has PayPal as a deposit method, you will know that it is a quality and secure operator. If you want to know more details about this eWallet, we suggest you read our comprehensive guide about PayPal.
Neteller
Neteller is another popular eWallet among sports bettors. Initially, Neteller gained its popularity among poker players, and after many years it is still one of the most favorite banking methods for both players and online sportsbooks and casinos.
Neteller is considered a very reliable, safe, fast, and relatively cheap eWallet. Which has a user-friendly website that is extremely easy to use.
The biggest advantages of Neteller are the fact that this eWallet is accepted by almost any sportsbook in the world, that transactions are fast and reliable, and that customers have additional protection from shady betting sites.
The downside of this eWallet is without any doubt, the fact that Neteller is usually not supported by sportsbooks for US players.
If you want to know more details about this eWallet. We suggest you take a look at our comprehensive guide about Neteller.
Other Notable eWallets
Despite these three eWallets are the most popular among the casino players, there are several other notable companies that should be mentioned.
Click2Pay, ecoPayz, Instadebit, and POLi are also very good and reliable services. That give their customers a wide range of options.
All of these money transfer services offer secure and reliable service, with low transaction fees and fast transaction times.
Conclusion
In the end, we will not make a final decision about the best deposit method in online sportsbooks. As there are many excellent deposit methods. Still, eWallets are an excellent choice for players who prefer to have fast and secure transactions.
FAQ
There is no universal answer to this question, as it comes down to personal preferences. Some people prefer not to share their personal and financial details with sportsbooks and decide to make deposit methods with eWallets. In general, eWallets are a much safer method than credit or debit cards, and withdrawals are faster.
eWallets are generally the fastest payment method when it comes to the gambling industry. Deposits are instant, and withdrawals are processed the same day. The battle for the second place is tight, as it depends on your service provider (credit and debit cards). For withdrawals, the slowest method is without a question bank transfer.
Bitcoin is very safe banking option, as storing BTC is rather complicated and potential fraudster needs to have a complex set of information to access your funds. That’s why BTC as a deposit method is considered one of the safest methods today.