One of the world’s most rapidly expanding markets is the sports betting business. Experts estimate that by 2024, it will be worth over $87.75 billion, up from its 2017 value of $270 million.
Although the details of the industry change from country to country, the requirements of the participants remain constant. Having reliable and hassle-free payment options is essential. Some of the most dependable sports betting payment options you’ll find at popular online sportsbooks listed below. Stay tuned!
1. Payment Cards
In the realm of sports betting, credit and debit cards are the go-to for making deposits and withdrawals. Online Casinos typically accept MasterCard and Visa. Some may take American Express and Discover. Using a credit or debit card is a quick and safe way to make a purchase. There’s little debate around their usefulness, and they’ve been around for quite some time.
Even if you don’t live in the US, you’ve probably heard of PayPal. When states initially began allowing sports betting, it was surprisingly not included as a payment option. But times have changed, and it’s now among the most sought-after alternatives. The great majority of online sportsbooks allow it. It is popular due to its high acceptance rates and lightning-fast withdrawal processing times.
Bets on sporting events increasingly accept cryptocurrency as payment. They are among the quickest and safest methods for adding funds to a gaming account. A major goal of altcoins is to make blockchain-based transactions more reliable and safe for online purchases.
Every time you make a purchase using cryptocurrency, the blockchain will be updated and a fresh passcode will be provided to you. Code-stealing fraudsters will be foiled by this security measure. These days, you may use cryptocurrencies like Bitcoin, Bitcoin Cash, and Litecoin at a wide variety of sportsbooks.
4. Bank Transfer
Bank transfers are a popular deposit option at most online sportsbooks. The player’s bank account is directly linked to the sportsbook, and money is transferred between the two parties. When cashing out, most gamers who pay with plastic opt for a bank transfer.
Wire transactions between banks are quick, easy, and trustworthy. Instant deposits and payments are a big selling point for them. Bank transfers encourage rapid deposits, but cashing out might take some time.
Skrill is a digital wallet that facilitates quick and easy money transfers. It’s accessible in over 200 countries and accepts around 40 different currencies. With Skrill, users may link their accounts to their bank accounts or debit/credit cards. Simply choose it as a payment option and you’ll be able to use it to fund your sports betting account.
Skrill may be used for both making deposits and getting money out. Withdrawals might take a few business days while deposits are quick. Skrill is a trustworthy method of payment since personal information is never revealing to merchants.
6. The PaySafe Card
The PaySafe system is a prepayment option. If you’re a gambler in search of variety, safety, and ease, this is the option for you. When using PaySafe, you may think of it as a form of prepaid gift card. Players’ financial and personal details are never revealed unless the participant voluntarily does so. No sign-up required and all financial dealings may completed swiftly and effortlessly.
Prepaid vouchers for PaySafe are available for purchase on the official website and in retail locations. To meet the demands of a wide range of players, they are available in a variety of denominations.
Similar to a traditional wallet, this digital payment solution allows for quick and easy transactions. It’s a great fit for gamblers who value honesty and fair play. This electronic wallet has been put through its paces in the marketplace and found to be reliable. Using this e-wallet is as simple as adding funds from a bank account and selecting it as a payment option in-game. It is not necessary to disclose personal information to bookies. It’s safe to use Neteller because of its long history and solid reputation. The implementation of high-level encryption protects users from fraudulent behaviour. If a consumer has any doubts about the legitimacy of their sportsbooks, this should put their mind at ease.