Home Best Payment Methods for Online Betting Sites – 2020

Best Payment Methods for Online Betting Sites – 2020

The best online betting sites provide a wide range of payment methods for depositing and withdrawing. But with so many options for online betting, it can be hard to pick the best one for you.

Check out our handy payment methods guide to help find the best solution.

Top 7 Betting Sites with Good Payment Options

Top 9 Payment Methods for Online Betting UK

Payment Method Min Deposit / Max Withdrawal Withdrawal Time
Apple Pay £10 / £1000 3-7 days
PayPal £10 / £50,000 12 hours
Trustly  £10 / £10,000 12 hours
Visa Debit £10 / £10 2-4 days
Paysafecard £10 / £10,000 N/A
Skrill £10 / N/A 12 Hours
Neteller £10/£10,000 12 Hours
Fast Bank Transfer £10/£10,000 2-4 days
Bank Transfer £15 / N/A 3-7 days

 

We've picked out these nine options as the most popular payment methods for betting in the UK. Each offers a slightly different route for your money to get from you to your betting account and there are key factors to know before picking one.

Of course, there are advantages and disadvantages with those too.

Payment Methods for Betting – Top Picks

We've rated our personal favourite payment methods for online betting sites below. Our top 3 all get a five-star rating.

Apple Pay

Apple Pay is one of the newest options for online gambling and has been growing in popularity. Sites such as Betfair and Paddy Power even accept deposits via Apple Pay to claim their welcome bonus.

It works in the same way as you would any other transaction with Apple Pay. If you're not sure about how this method works, find out all you need to know about this excellent payment option.

✅ Main advantage: Simple and efficient for deposits

❌ Main disadvantage: Withdrawals not yet supported by all bookies

Rating (out of 5): ⭐⭐⭐⭐⭐

Paddy-Power-Welcome-RFB

Using PayPal for Betting

PayPal has long been one of the safest online payment methods for making transactions online. If you’ve ever made a payment online, you’re likely to have come across, this and most likely already have an account set-up.

This is excellent for those interested in betting on sports, such as football. Deposits are instant meaning you can get a bet on quickly if there is a price you like.

This could be particularly handy for markets that start after kick-off with odds moving constantly in-play.

Withdrawing via Paypal

As long as you deposit with PayPal, you can withdraw. Unlike a debit card, as there are no banks involved withdrawal times are drastically reduced. You will have your funds in your PayPal account usually within 12 short hours.

There is an upwards limit of £10,000 per transaction and this can sometimes be per day. Therefore, if you’ve landed a huge win (congratulations) then you will have to be a little bit patient.

✅ Main advantage: Highly secure

❌ Main disadvantage: Can be slow for large withdrawals (over £10k)

Rating (out of 5): ⭐⭐⭐⭐⭐

Check out our best betting site reviews to discover which UK bookmakers accept PayPal

Trustly

This may just be the best payment method you’ve never heard of. In the UK, Trustly is becoming more widely available as a means of depositing, but it’s still relatively small.

There are several reasons why players choose Trustly; it is highly reliable, secure, and instant. It works in synergy with your bank and is effectively an instant bank transfer. That’s pretty cool.

Moreover, it is optimised for gaming, which is again pretty cool and offers a super user-friendly experience.

There is always a small drawback, but this one is minimal. Some operators or banks can charge fees, so bear this in mind.

✅ Main advantage: Designed with online betting in mind

❌ Main disadvantage: Not available widely for UK betting sites

Rating (out of 5): ⭐⭐⭐⭐

> Back to out top 7 Betting Sites

Can I Use Cards to Deposit on Betting Sites?

It may seem obvious, but you can of course deposit on gaming sites with your debit card. Paying with cards for anything has become the norm, and online gambling is no different.

Debit Card

Using a debit card is popular. Your bank will likely have authentication steps in place so you can deposit securely.

Most debit cards will be accepted, including Visa Electron. Limits tend to be quite high and you can deposit from as little as £5 on some betting sites.

Withdrawing via Debit Card

One of the best aspects of using your debit card is that withdrawals can be made easily. Moreover, they will go straight into your bank account. There are no fees to consider and the process is simple.

Although deposits are instant, you could wait up to 5 days for the bank to process withdrawals. It is also worth bearing in mind that with debit cards you will be asked to provide proof of the physical card for verification security and KYC checks.

✅ Main advantage: Usually eligible for sign-up offers

❌ Main disadvantage: Sharing bank details directly with the bookie

Rating (out of 5): ⭐⭐⭐⭐

Credit Cards Banned in the UK

As per a recent ruling by the United Kingdom Gaming Commission (UKCG), credit cards will no longer be accepted by online bookmakers for players in the UK.

The ban applies not only to online bookmakers, but also offline (ie. Betting shops). It has been introduced as a measure to combat problem gambling and has been widely well-received by the industry.

Ensuring there are ways in which to protect those at risk is of the highest importance, and as a regulatory requirement, bookmakers will have to adhere or face hefty punishments.

If you have used a credit card previously for your betting transactions, you will be asked to use a different means going forward.

You may wish to consider other methods such as Skrill, Neteller or PayPal which are e-wallets. Apple Pay is another interesting alternative that you can find out more about here.

Paysafe Card

Paysafe is one of the most common versions of a prepaid card. Interestingly, you can buy these in the likes of your local shop.

They come as vouchers, similar to how you used to top up your mobile phone and come in amounts of £10, £25, £50 and £100. The voucher will display a 16-digit code that you will need.

Withdrawing by Paysafe card is not an option.

✅ Main advantage: Very secure for depositing

❌ Main disadvantage: Lengthy process

Rating (out of 5): ⭐⭐⭐

Paysafecard

Alternative Payment Methods for Betting

E-Wallets

E-wallets have been growing in popularity recently. If you’ve never heard of them, they do exactly what they say on the tin; there are wallets online. You can fund your e-wallet with any card, including pre-paid cards.

This is a very interesting way to deposit and withdraw, and quite often players will keep these accounts solely for gambling.

Depositing and Withdrawing With Neteller

Neteller has been around for some time and is one of the more well-known e-wallets. Deposit into your online gaming account with Neteller is as easy as with a debit card.

Choose Neteller as your option and then follow the simple steps including amount, your Neteller ID, and your security code (generated by Neteller).

It is a safe and quick way to fund to and from your account. While deposits are instant, withdrawals can take several hours.

✅ Main advantage: Instant deposits

❌ Main disadvantage: Often not permitted to claim offers

Rating (out of 5): ⭐⭐⭐

Payment_method_Neteller_Features

Depositing and Withdrawing With Skrill

In the same vein, Skrill offers a fast and easy payment solution. It was designed for bettors and so it is very convenient for funding your betting account. You can deposit in the same way as Neteller, or you can get a Skrill card.

This is a pre-paid credit card, but as it’s linked to your Skrill account you will have no problems withdrawing.

Depositing via Skrill can sometimes lead to you being excluded from offers. So always double-check this if you’re hoping to claim a deal, especially if you're a new customer.

✅ Main advantage: No need to share bank details directly with the bookie

❌ Main disadvantage: Not eligible for most welcome bonuses

Rating (out of 5): ⭐⭐⭐

Payment Methods Accepted for Offers

Site Debit card PayPal Skrill
Unibet
Betfair
Paddy Power
888Sport
William Hill
SportNation

*These are based on new customer offers and are subject to change.

We've not included Neteller on the list, although the same exclusions apply as Skrill. This list should give you an idea of how accepted certain popular payment methods are.

If you want to claim a bonus, it's important to check for payment restrictions. The way that you choose to deposit funds is usually a condition of all betting promotions, especially welcome offers.

Payment Methods Direct From Your Bank

Bank Transfer

This feels pretty old school if we’re honest, but sometimes the old ways are the best ways. Via this method, you simply issue a bank transfer as you would to any other provider.

Your money will be in your account when it reaches the corresponding bank. As with all transactions of this nature, they can take some time.

Faster Payment Service (FPS)

The introduction of FPS (Faster Payment Service) was introduced around 10 years ago to ease this problem, but it’s not ideal. If your bank support FPS it could be in your account within a matter of hours but if not – then we’re talking up to five working days – possibly more.

Fees also can come in here, so keep a close eye on what the total transaction will cost.

In the same manner, withdrawals work on the same system. If your bank supports FPS then you can get it fairly quickly, if not then a number of days.

✅ Main advantage: Can be used on most betting sites

❌ Main disadvantage: Even when using FPS, deposits are not instant

Rating (out of 5): ⭐⭐

Safest Online Payment Methods For Gambling

E-wallets, as explained above, offer an extra level of security by eliminating the need to input your bank details directly on to a betting site.

However, all payment methods offer a key layer of security. At a glance, these are the main safety advantages of each:

Payment Method Main Safety Advantage 🔒
Apple Pay Fingerprint required on your personal phone for extra security
PayPal Processes thousands of transactions safely across many industries
Trustly No need to share your account details with a bookie
Visa Debit Can add extra verification stage if set-up with bank
Paysafecard You need to be in possession of the 16-digit code to use it
Neteller/Skrill Can be funded by a number of means
Bank Transfer/FPS Your bank has plenty of time to notice if a transaction looks suspicious

 

It is worth bearing in mind that you may forfeit bonuses with certain payment methods – so please do check terms of any offer you are considering.

You should rest easy knowing that all bookmakers hold licenses with the likes of the UKCG and the Malta Gaming Authority (MGA), and are bound by strict laws. Therefore, your details will be treated with care on our recommended betting sites.

Best Online Betting Payment Methods Summary

There are many ways to fund your betting account with a good variety of payment methods. It's important that whichever payment option you select whether it be PayPal, Trustly, or your debit card that you are comfortable with what is happening with your money.

Remember, you are in control of how and where your money moves, so be sure to know what you're getting into before depositing. Our recommended sites all come with excellent payment options, so if you're thinking of signing up with a new bookie we suggest one of those.

Check out our dedicated pages to our top payment method options to discover more.

Payment Methods For Online Gambling FAQs

Q: If I deposit with my debit card can I withdraw to the same card?

A: Yes. You can withdraw to the same card you use to deposit. This is assuming that you have already completed the mandatory verification process with your chosen bookie.

Q: Do any gambling sites accept PayPal?

A: Yes! Ladbrokes, William Hill, bet365, and many more of our recommended betting sites accept PayPal as a payment method.

Q: Can I claim free bet and welcome offers with PayPal deposits?

A: The answer is, unfortunately, not likely. In saying that, PayPal is becoming a more popular method of depositing and you can still claim offers with the likes of Unibet. We recommend checking the terms of the offer to be sure, but there is a chance.

Q: Why can’t I withdraw the money from my betting account?

A: This could be for a number of reasons. In saying that, if you have not verified your account, this is most likely why. Betting companies are required by law to ask you to prove you are who you say you are. Contact your bookie if you are unable to do this.