Deposits and withdrawals at online bookmakers. Tips and useful information

Find out everything you need to know about deposits and withdrawals at online bookmakers. Discover the most frequently available payment methods and find out how you can fund your betting account even if you don’t have a credit / debit card. See what is the minimum deposit and withdrawal at licensed bookies, depending on the payment method you choose, if there are any fees, and how fast transactions are processed.

How to start betting online

In order to be able to place your online bets, you need money in your account. Depositing can be done through several methods, including debit/credit cards, bank transfers, Skrill, Neteller, Paypal and even Bitcoin!

Please note that some online betting agencies do not offer a registration bonus if you deposit through a certain payment method. For exemple, if you choose to deposit money in your account using Paysafecard, Skrill or Neteller you need to read the Terms and conditions of the bonus, to find out if deposits made through these payment methods qualify.

To make it easier for you, here’s a table that helps you find out which betting sites allow deposits through your prefered method of payment.

Most popular banking options for online betting

⇒ Credit / debit card, the most used method of topping up a betting account

Credit or debit cards are by far the most popular method of payment, and there are many beginner bettors who believe that this is the only banking option accepted by bookies.

Visa: Visa Electron and Virtuon cards

Mastercard & Maestro

Credit cards (American Express, Union Pay etc.)

Usually any card can be used for deposits, but in the case of withdrawals you will encounter problems with most of them, except for Visa Electron cards. And, of course you will not be able to withdraw money on your credit card.

⇒ Skrill – the preferred electronic wallet for deposits and withdrawals

This is an electronic wallet that can act as an intermediary between your betting account and your debit/credit card. There are many benefits to signing up for Skrill, but here are just a few:

If you have a card that is not accepted by the bookie, then you can transfer money from it to Skrill, and then top up your betting account. Your card data is not disclosed to the bookmaker. They will only be able to see the email address attached to the Skrill account, and that’s it.

Skrill is considered one of the safest payment methods in the world. A withdrawal on Skrill is processed much faster than one by bank transfer. Most are processed immediately.

There would be much more to say, but if I made you curious, then it is best to read the article: “Skrill – Electronic wallet for online betting”. Here you will be able to see what commissions and fees are charged, a complete list of advantages / disadvantages, a list of bookmakers where you can use Skrill, but also a series of common questions, tips and recommendations.

⇒ Neteller – a lesser known e-wallet for online betting

Neteller is an electronic wallet just like Skrill, which is accepted by quite a few online bookmakers. Compared to Skrill, however, I personally don’t think it offers a lot of advantages, on the contrary, there’s a lot of very high fees and commissions.

⇒ Paysafecard – pre-paid card for online sports betting

PaySafeCard provides a means to fund your betting account with cash in a simple and easy way. It is not the only pre-paid voucher of its type but it is the most widely accepted online, especially with online bookmakers and casinos. PaySafeCard is owned and run by the PaySafe Group, who also own Skrill and Neteller.

At a sales outlet, you exchange cash for a PaySafeCard 16-digit PIN; this is in the amounts of €10, €25, €50, or €100. This PIN is like your card number that you then use for their partner online gaming sites. There is no personal information collected and you must pay cash, not with a credit card. With this 16-digit PIN, you may then log onto various partner gaming sites and use this as your form of payment. They will ask for your 16-digit PIN at the payment window. You can also log onto the PaySafeCard website at any time to find out your cash balance in your account, and revisit a location to add more cash to your account or accounts as well.

However, keep in mind that most bookmakers accept this payment method only for deposits, not withdrawals. In their case, you will most likely be able to withdraw the money by bank transfer.

⇒ Paypal

As one of the largest online payment processors, PayPal is widely accepted by online bookies, and many sites even offer a free bet bonus for punters who make their initial deposit via PayPal. Moreover, as PayPal is a fully electronic payment storage option, making a deposit to a bookmaker which accepts PayPal is extremely easy – as is making a withdrawal. One of the best things about using any of the Paypal betting sites listed in our table above is the anonymity they provide you. If you deposit with Paypal then your bank statement only shows money in and out of Paypal, not a gambling operator. Here are some of the bookies we recommend to sign up with in order to receive a free bet bonus when you use this banking option:

⇒ Bitcoin

When Bitcoin was launched in 2009, many clever investors saw in it huge growth potential. Now, over a decade later, many different cryptocurrencies can be used for gambling, and hundreds of different crypto casinos have launched to fill this huge new demand. Deposits and withdrawals are usually much faster compared to traditional methods such as bank transfers, because of the speed of blockchain transactions. Most withdrawals can be processed in 1 hour or less.

What is the minimum deposit for online betting agencies?

The minimum deposit varies from one betting agency to the other. More so, the amount might vary depending on the payment method you use.

Below we will show you the minimum deposit required to start betting with any of the betting sites we recommend. If you want to know how much the minimum deposit is for a certain payment method, we recommend you check the website of the bookmaker.

Minimum deposit at the agencies recommended by tips4bettors.com

Minimum deposit at Unibet: 10€
Minimum deposit at Bet365: 5€
Minimum deposit at 888 Sport: 10€
Minimum deposit at Campobet: 10€/20€ (for the rsign up bonus)
Minimum deposit at Betway: 10€
Minimum deposit at Rabona: 10€/20€ (for the sign up bonus)
Minimum deposit at Quinnbet: 10€
Minimum deposit at Betfair: 5€
Minimum deposit at BetVictor: 5€

How to cash out your wins

The happiest moment for a bettor is when he withdraws his winnings. You should know that you will be able to withdraw money from a betting account only after you have completed the verification procedure.

Here are a few things you should know:

⇒ online betting sites have certain rules regarding the withdrawal method: in some cases you cannot withdraw using a Mastercard, while other bookies only allow you to cash in your wins by using the same method you used to deposit.

⇒ withdrawals are generally free, but there are some agencies where, if you choose to make a lot of withdrawals in a span of 30 days, you will have to pay a small commission.

The withdrawal procedure is generally similar for all betting sites:

⇒ Go to your account and select the section in which you see your wins
⇒ Select the payment method from those available.
⇒ Input the amount you want to withdraw and confirm the transaction.

Minimum withdrawal at Unibet – 15€
Minimum withdrawal at Bet365 – 5€
Minimum withdrawal at 888 Sport – 10€
Minimum withdrawal at Campobet – 10€
Minimum withdrawal at Betway – 10€
Minimum withdrawal at Rabona – 10€
Minimum withdrawal at Quinnbet – 10€
Minimum withdrawal at Betfair – 5€
Minimum withdrawal at BetVictor– 5€