Payment Methods in UK Online Casinos
Funding your online sports betting and casino accounts
When it comes placing bets or wagers online, there are many different payment methods accepted, some of which have more advantages than others. Here you will find all the info you could possibly want to know, before spending any of your hard-earned cash. Why deposit with one funding source, when you can deposit with another and get your hands on your winnings quicker? Of all the deposit methods available, the most popular route of placing bets online is via the major UK credit and debit cards, but why? Below you will find the details on all the frequently used depositing methods, to allow you to make an informed decision on which is suited to you and your budget.
Credit Cards and Debit Card Payment
MasterCard and Visa card are the most commonly used payment methods when it comes to online bets, because these funding methods allow punters to place bets, regardless of the amount of cash in their bank. A credit card will allow you to spend more than you have in your bank, so these are considered a dangerous tool for those who spend more than they can afford to. Usually, a fee is applied to your deposit whenever you use a credit card, so make sure you take this into account before placing your bets. Wherever you see the Visa or MasterCard logos, you can place a bet, so long as you own a credit card.
One of the drawbacks to using a credit card to place bets online is, the amount of time it takes to get your hands on your winnings, as most online sports betting and casino sites won’t allow you to withdraw back to your credit card. But, what happens if you win?
Fear not, your cash won’t be floating around in no-mans land, it will be sat in your account whilst you choose an alternative route of withdrawing. Because of the withdrawal stipulations, this means you can wait up to 7 working days to see your winnings.
Debit cards such as Visa Electron, Visa Debit, Maestro, Switch and Solo are immensely popular, due to the fact that players simply cannot spend more than what’s sitting in their account. By using this route to place bets online, you can be assured that you can only spend the funds that are currently available. You may find that a fee is also payable through this route of funding your account, plus there is a time delay on withdrawals.
What are E-wallets? E-wallets are a popular funding source, because they allow players to deposit online without dishing out their financial details, unlike credit and debit cards. Skrill, Neteller and the world-famous PayPal depositing methods are simple to use, you head to the cashier of the site you wish to deposit at, chose your preferred E-wallet system, sign into your E-wallet account and send funds instantly to your online casino or sports betting account.
There is a similarity with this funding source and debit cards – you cannot spend more than you have in your account linked to your E-wallet. what makes this payment method so popular is the fact that you can get your hands on your winnings the requesting a withdrawal. Majority of sites will charge a fee for deposits, but when it comes to withdrawals, they are free and take a maximum of 24hours to process.
Crypto Currencies: Bitcoin
Bitcoin is an innovative payment network and a new kind of money, that allows you to place bets online at a growing number of casino and sports betting sites. Bitcoin is an open-source, a unique funding source that is publicly owned, allowing transactions to be made globally with low processing fees. As a form of digital currency, Bitcoin allows transactions to be distributed in small currencies, the smallest being 1 millionth of a Bitcoin (also known as Satoshi). Using Bitcoin allows punters to remain anonymous, allowing for a safer and more secure way to place bets online.
Wire transfers and Mobile Payment
Bank and wire transfers is an option that allows players to place bets online via Diners Club International or Western Union. This funding method is not one of the favorable, due to there being many drawbacks, such as the length of time it takes to fund and withdraw from accounts.
If you can’t bear to be away from your mobile or tablet, don’t panic, because all online casinos and sports betting operators, allow you to deposit and withdraw via your mobile device. There’s nothing complicated about this, you simply yogi not your account and deposit and request withdrawals, as you would via the desktop site. Whether you do deposit or withdrawals via desktop or mobile, the process is exactly the same and takes the same length of time. Mobile apps for various sites allow you to track your withdrawals and progress with a simple press of a button.
There are many different ways to fund your account, but at the end of the day, it’s your decision. Do you go for a funding source that takes hours to process withdrawals, or do you go for one that allows you to deposit as much as you like? If you feel safe giving your financial details to various sports betting and online casinos, then feel free to do so – this is why there are plenty of options on offer, when it comes to funding your account, because everybody is different.
All payment methods allow you to reverse withdrawals, but not all casino and spots betting sites do, so if you fancy placing another bet but your funds are yet to clear, you can request for this to be reversed – this allows you to get your cash credited back to your online account instantly. No matter what you choose, you will be required to fill in some basic info, such as your email address and all that’s left to do is decide on an amount to deposit and authorise the deposit. Instant access to your funds is what all punters want, so don’t go for the option of a cheque, because this can take a week to arrive, then a week to clear, whilst you are sat waiting to place your bets.
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