Banking Methods

Whenever you are using a real money betting site, it goes without saying that you will need to deposit funds at some point to enjoy the site. That’s why we’ve put this page together to show you how to deposit your funds, what methods you can use, how to withdraw, and so much more.

The one and only exception to depositing funds at a betting site is if you manage to source a no deposit bonus. These can be few and far between, however, so rather than focus on the few sites where this is possible, we’d like to guide you through the whole scope of banking with your online betting accounts.

The good thing about reading this in June 2023 is that depositing at a betting site has never been easier, as you will soon find out. But if you’d prefer to skip through this information and get started with a great betting site today, just choose a site from the list on this page and sign up.

What payment methods can I use to deposit my funds?

If you are looking to gamble with real money on a betting site, it is important to familiarise yourself with the deposit options your bookmaker has available. The very best sites today have a wide range of methods that you can use, and the minimum deposit amounts for these various methods are generally quite low. More often than not, you can fund your account for as little as £5 to £10, and you won’t be charged any fees either.

Once you’ve registered for a new account with any site, you should have the choice from any of the betting banking methods listed below:

• Debit cards (MasterCard/Visa/Maestro)
• Online bank transfers
• PayPal
• E-wallets (Skrill/Neteller)
• PayByPhone
• Paysafecard

It is important to note that you won’t find all of these bookmaker deposit options at every single site that you sign up with. Some sites will have a greater range of payment methods than others, but one thing is for sure – if you stick to the very best sites, you will have no trouble in finding a method that suits you.

Are funds I’ve deposited at an online betting site safe?

Once you have deposited any funds into your online betting account, the funds are safe and protected. As a requirement of being a licensed operator, betting sites will actually hold funds in a separate bank account to guarantee this protection, which should give everyone peace of mind. Not all sites fall under this description, however, which is why you should take the time to ensure that the site is licensed and regulated and that it uses SSL encryption to safeguard your transactions.

Provided that a site displays these options, you should have nothing to worry about regardless of which banking options you choose to use. You will also be able to see your balance after you have logged into your account. This should also help to give you a degree of comfort in knowing that your funds are there and ready to be used.

Types of online bookmaker banking methods

As promised, we will now get into the betting site banking options that are available for you to use, and believe us, there are plenty to choose from. These methods can be used whether you are depositing or withdrawing funds from your account in most cases, and we have covered the main details for each right here.

Online bank transfers

If you decide to go down the avenue of an online bank transfer, you will need to manually transfer funds from your bank account into your online betting account. This can be beneficial as you are protected by the bank thanks to standard data-encryption software, and it’s also one of the most reliable methods you can use in general. The only downside to using online bank transfers is that they are not instant, so you will naturally be waiting longer for a transaction to process.

E-wallets

E-wallets are some of the quickest of all betting site payment methods and you can create an account with providers like Skrill or Neteller for free. If you deposit through these methods your money will arrive instantly, and even if you are withdrawing through these methods, funds can often arrive in a matter of hours. Just like the other betting site banking methods outlined here, you won’t encounter any unwanted fees either.

PayPal

While also an e-wallet, PayPal is arguably the most popular and familiar of all the bookmaker deposit options described here. PayPal is an incredibly secure way to process online transactions, as they are all encrypted, and PayPal also has a dedicated support team that will follow up on all transactions if something goes wrong. The only thing with PayPal is that the e-wallet provider can charge small fees, even if the betting site itself does not.

Debit cards

Just about everybody has a debit card these days, which makes this method one of the most simple and accessible for people to use. If you choose to make a deposit with any of the debit card options, such as Via, MasterCard and Maestro, you can expect the funds to arrive in your betting account immediately. However, when it comes to betting site withdrawal methods, debit cards are definitely not the quickest. It can often take a betting site up to 5 business days to process debit card withdrawals, which is slower than other methods such as e-wallets or PayPal.

Know your customer checks explained

Some betting sites will carry out a Know Your Customer (KYC) check in order for you to verify your account details before you are able to make a deposit. This is a standard practice used by betting sites in the UK. Many people start to panic when they hear that they need to verify their account, but it’s actually a very simple process. Basically, you will need to prove that you are who you say you are and that you actually live at the address you have listed when registering.

In order to verify both of these details, you can do a couple of really simple things. To verify your identity, you can easily snap a photo of your driving license or passport, and send this across to the betting site KYC team via email. Then to verify your address, you can send through a photo of either your bank statement or a recent utility bill. Providing that the photos are clear and that the requested information is visible, your account will be verified in just a few days.

When can I withdraw money from my betting site account?

You can withdraw money from your online betting account as and when you please. There is often a minimum in place for a betting site to process withdrawals, but this is usually around the £10 mark or even lower, depending on your chosen site. As is the case for deposits made at online betting sites, the very best brands have a bunch of different methods you may use when withdrawing from a betting site.

Some of these methods include e-wallets, debit cards, online bank transfers, PayPal, and several others. Whenever you are feeling ready to withdraw your funds, you can simply log in to your account and head to the banking section. From here you will need to select withdrawals, choose your desired withdrawal method, and then decide how much of your cash you wish to take out.

Fast withdrawal banking methods

It goes without saying that there is less frustration with betting sites when you manage to withdraw your money in a timely manner. After all, nobody enjoys waiting for their money, especially when it is money that has been legitimately won on a betting site. So with this in mind, it’s important to know which of the betting site withdrawal methods offer instant processing. Instant processing in this regard usually indicates that you will receive your funds within a few hours.

E-wallets like PayPal, Skrill and Neteller are generally the banking methods with the fastest payout times. As such, you will need to set up an account with one of these providers before you can use them. But the good news is that this can easily be done by heading to the respective websites of these methods which is also completely free for you to do.

Ready to make your first deposit?

If you’re now feeling pumped up and raring to try a new betting site, why not choose a brand from our hand-picked sites listed on this page? All of these sites have been vetted by our team, and they really are some of the best in the market.