Typically, most online sports and casino sites accept the traditional methods, including Credit/Debit Card, eWallet, Bank Transfer, and PayPal. Meanwhile, with the advent of virtual currencies, many bookmakers have introduced cryptocurrency into their payment options.
Based on the country, you may also find other no-too-known banking methods, including prepaid methods. Let’s take a look at the best and most secure online sports payment options.
Credit/Debit Cards
Almost all the leading sports betting and casino sites accept the use of Credit/Debit cards to deposit and withdraw funds. This is due to the incredible security and safety these options offer. Although there are several Credit/Debit card options, top sports betting sites often support Visa, MasterCard, and Maestro. Other American-based and foreign betting sites also allow American Express as a payment method.
Pros
- Supported by most betting sites
- Secures and protects data from third-party
- Processes transactions almost instantly
- Easy and convenient to use
Cons
- May incur service currency conversion charges on some bookies
- Some bookmakers only accept for deposit and not withdrawal
Electronic Wallets
E-Wallets are other great options to deposit funds into and/or withdraw from your sports betting and casino accounts. Carrying out any transaction to e-wallets requires the use of credit/debit cards.
The good news is that there is a wide range of e-wallet options available out there to choose from. The leading options include Skrill, Neteller, EcoPayz, InstaDebit, and Entropay. You may also find Webmoney and PayTm as great alternatives.
Pros
- Accepted by most sports betting sites
- Safe and secure
- Supports both withdrawal and deposit
- Instant deposit
- Low service fees
Cons
- Not supported for Welcome Bonus
- Withdrawals take a few steps
- Come with a service fee
PayPal
Despite attempts to categorize it under the e-Wallet payment system, PayPal has managed a unique status over the years. It’s one of the most trusted systems supported by many online sports betting platforms to deposit and withdraw funds, thanks to its keen attention to security and data protection. PayPal allows bettors to store their funds in a virtual account.
Pros
- Relatively most secure banking option
- Incredibly tailored, customer-centered service
- Uses SSL certificate
Cons
- Very high transaction fees
- Has limited acceptance on many online betting platforms
Direct Bank Transfers
Many online bookmakers support punters to use Direct Bank transfer to fund their betting account and/or use it for payouts. Depending on your bookie, your transaction is often powered either by Electronic Funds Transfer or Citadel Direct. You can make a direct transfer to your local bank account.
Pros
- Supported by leading online bookmakers
- Convenient for offline and online customers
Cons
- Not too safe
Cryptocurrency
As of today, most of the top-ranked sportsbooks and casino sites are accepting digital currencies as a means of depositing and withdrawing funds. While Bitcoin remains the most used, Bitcoin Cash, Litecoin, and Ethereum have also come into the fray.
Pros
- Flexible and convenient
- Secures players’ privacy
Cons
- Many players are new to cryptocurrency
Final
Choosing a trusted, reliable and safe sportsbook comes with several factors. Top of the list of these factors that a punter should not overlook is the availability of safe and secure payment methods. There is a wide range of options out there, but the curious bettor will have to scrutinize each one very well before settling for it.
