Skrill

Skrill is your online friend, a flexible and secure online wallet based in the UK. Skrill is the cheapest online payment solution, though not the fastest one.

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Open your Skrill account today and enjoy the benefits of this flexible and secure online wallet!

Using Skrill, you will be able to move the money around across different bookmakers without paying anything. The total transaction costs will be much lower than if you were making the deposit and the withdrawal directly with a debit or credit card.

ADVANTAGES

Skrill is the cheapest deposit/withdrawal option when it comes to online betting. Transactions with bookmakers are free, and uploads to Skrill account are also free if you’re using certain payment methods (Maestro, Sofort, wire transfer, Skrill Direct online banking). Fees for uploads via MasterCard, Visa, American Express, Diners, JCB are 1.90%. Skrill MasterCard ATM withdrawals are cheap, £1.46 per transaction, and the annual card fee is £8.13.

All this makes Skrill the cheapest option, and there are no hidden fees. Most of the transactions are free, and you never get the feeling Skrill is ripping you off. They’re just taking a small commission here and there, but in a transparent way.

The Skrill MasterCard is issued to every member for free, and is adding to the flexibility of this payment method as you can access your funds anytime and anywhere.

DISADVANTAGES

The Skrill MasterCard daily ATM withdrawal limits are very low, €250 at the Bronze VIP level, which is the default for new accounts. Maximum is €2500 for Gold VIP members, effectively making you become a Gold VIP or use different withdrawal options such as transfering the money from Skrill to your other debit card or a bank account.

While withdrawals from the bookmaker to Skrill are fast, within 24 hours depending on the bookmaker, they’re not instantaneous.

CONCLUSION

If you’re betting online, Skrill is unavoidable. Unless you want to make direct deposit and withdrawals with your debit card, in which case you’ll pay more and wait for a longer time for the payment to clear. Skrill is not ideal, but is close to it, especially for VIP members. Sign up today!

Neteller

Neteller is a lean and mean payment method – it’s possible to withdraw the online betting winnings within a couple of minutes on the first ATM. The speed comes at a cost, but we’re still voting Neteller as the best payment method for online betting.

Neteller is an online wallet accepted by virtually all online bookmakers. You top up your account using any of the traditional payment methods, then you can freely move your money around across online bookmakers for free. All that with a convenience of having a Net+ MasterCard plastic card linked to your Neteller account, so whenever funds are available on your Neteller account they’re also available on the ATM.

ADVANTAGES

Neteller is the fastest payment option, and in combination with Bet365 it’s possible to withdraw the winnings within a couple of minutes. That’s faster than walking to the betting shop to withdraw the winnings.

The Net+ daily limits are nice. £500 ATM withdrawal, £1500 POS purchases.

There are no annual, monthly or dormancy fees for the Net+ card. There’s the £8 shipping and handling fee when ordering your card, and that’s it.

DISADVANTAGES

The fees are a bit high. When uploading the money to your Neteller account you may pay up to 4.95% commission, though there are different payment methods with different fees. Choose wisely. Withdrawals are also expensive, but free if you’re using your Net+ card.

The ATM withdrawal fee is £3 GBP per transaction.

CONCLUSION

Neteller is the best payment method for online betting. Use it.

Payments methods: Wire transfer

Wire transfer is the slowest and most complicated way to transfer the money to or from an online bookmaker, but is still widely used as a reserve payment method.

ADVANTAGES

It never fails and all bookmakers accept wire transfers. They’re useful when you want to fund your account for the first time or when you need to withdraw money after depositing with an option that doesn’t allow withdrawals, e.g. Paysafecard.

DISADVANTAGES

Wire transfers are generally slow, and it’s difficult to transfer the money to a faster and more flexible payment option. Therefore, wire transfers should only be used when the goal is to transfer the money to a different payment option.

CONCLUSION

Wire transfers should never be used if another option is available, but are invaluable as a reserve payment method. For example, if you’re using Skrill or Neteller you may want to fund your account with a wire transfer in order to be able to use the full flexibility of an online wallet afterwards.

Credit cards

Credit cards are a very good payment method for online betting if used properly. It’s possible to bet with borrowed money with a 0% commission.

The biggest advantage of credit cards is, well, that they’re credit cards. Therefore it’s possible to wager some money today and pay for it with the next credit card statement, or in case of revolving cards distribute the expense over a longer period of time.

It’s best to use credit cards to fund the Skrill or Neteller account because all bookmakers accept these two online wallets and the transactions with the bookmaker are free, whereas you’re stuck with one bookmaker if depositing with a credit card directly. And it’s possible you might not be able to deposit with a certain bookmaker, depending on what card you have.

There is one bookmaker that accepts credit cards without commission, and that’s Bet365, Visa and MasterCard only. In this case we advise you make a direct deposit with a credit card, of course.

ADVANTAGES

Bet today, pay next month.

DISADVANTAGES

You might have to use wire transfer as the withdrawal method. This is avoided if not depositing directly with a credit card, and using the card to fund the Skrill or Neteller account instead.

CONCLUSION

The only way to bet with borrowed money. In case of Bet365, without a fee.