Betting Payment Options
The best online betting sites will allow you to deposit and withdraw using a vast number of methods and payment options, others offer just a few. At OnlineBetting.org.uk we have done the research for you to help you pick the bookie with the right banking methods for you. We weigh up the pros and cons of the various payment options offered by UK online bookmakers.
Ever wondered what Skrill or Bitcoin is? What are the benefits of using various payment services? If you already have a traditional or digital payment method then where can you use it? Which bookmakers have the lowest minimums or highest maximums? What penalties or fees are there for using these services and how easy are they to set up and use? We have all the answers you need to make sure you bet in a fun, safe and secure way.
In this section we break down banking and payment options by type. Click on the payment options for additional details and information. For casino payment methods visit our sister casino site OnlineCasinos.org.uk.
Credit and Debit Cards
Most online accounts are funded through debit and credit cards. If you are unsure what card is the best to use or if you may incur any fees for using certain providers or card types then read our payment guides below. We have researched all major credit and debit payment methods and list all of our recomended bookmakers who provide them, along with minimums, maximums and any fees or charges.
The card is still the most universally accepted form of payment for online gambling. For the widest choice, lowest limits and largest maximums transacting using your bank or store card is one of the best ways to go.
The Visa and Maestro, and other debit card, payment methods are very widely accepted by UK online bookmakers. Debit cards are usually linked to your bank account and are drawn from your credit balance. This is the most widely accepted payment method and betting accounts can be funded, if in the same currency, without any transaction fees. Pre-paid debit cards are also available. Read More.
Visa and MasterCard Credit Cards (Banned From 2020)
From April 2020 credit cards can no longer be used to gamble online or offline in the UK, this includes using credit cards via eWallets. If you wish to continue to bet in the UK you will need to use a debit card, eWallet or other means to deposit. These changes were brought in on the recommendation of the UKGC due to high proportional use by problem gamblers and associated high fees from providers that penalise users. Read more.
Entropay is a pre-paid virtual VISA card accepted by many UK and European betting sites. Entropay offer one of the safest and secure payment methods you will find. With entropay you can keep track of your betting and ensure you don't ever go overdrawn. All bookmaker sign up bonuses are available with entropay, unlike some other methods such as Skrill. Minimums, maximums and processing time are all similar to conventional VISA cards. Real more.
The vast majority of credit cards are issued through Visa or MasterCard although there are other varieties about. One in particular being American Express. Most bookies will accept a wide range of credit payment options although AmEx is rarely accepted due to high processing fees associated with the product. If you would still like to use AmEx on a betting site then we can tell you some other ways to do it. Read more.
eWallets And Digital Wallets
eWallets or Digital Wallets are basically an intermediate storage method for your cash. These accounts are funded from your existing bank account and you can control how money moves into and out of the account. There are several main benefits of digital wallet systems. A real draw is not having to constantly enter card numbers and codes to websites, simply enter your eWallet account number. If you cancel your bank card, change your bank card or are reissued with a new card following expiry then you only need to enter the new details in once place. This way you don’t need to visit loads of different sites changing your payment details.
Digital accounts are very useful for those with several of online betting accounts, these allow you to keep your transactions in one place so you can monitor your winnings and loses more easily. Another major benefit of this system is the fact that bookmaker transactions do not appear on your bank statement, only the transaction to the eWallet. This can give you added personal privacy and security.
Finally if you happen to be somewhere where online gambling is restricted, or indeed if you use an account that is based somewhere where there are gambling restrictions, then eWallets are a great option for you. We are not saying that you should do anything unlawful, but are simply pointing out the fact. Below we show you some of the pros and cons of using eWallets to fund your online betting sites.
The most popular eWallet service in the UK, I would be surprised if you haven't heard of PayPal. Originally PayPal took off through its association with eBay but have recently begun to spin off as an entirely separate entity. The principle is simple, authorise your bank account(s) and card(s) with PayPal and you can add or remove funds to your eWallet, using your eWallet you can then deposit to or withdraw from online bookmakers. PayPal is widely accepted for most bookies but there are some exceptions. Read more.
Another major e-money provider. Everything works on the same principles as PayPal. The service was created in Canada and moved to the Isle of Man in 2004 and is classed as an authorised electronic money institution by the UK government. Neteller have a long association with betting websites and at one point were estimated to be processing payment for 80% of the world-wide gambling sites. Unfortunatly although most bookies accept this payment option previous abuses mean many bookies do not offer welcome bonuses for accounts funded by this mechanism. Read more.
Skrill, formerly known as Moneybookers are an e-commerce company, UK registered and regulated by the financial conduct authority (FCA), they are licenced to operate in the EU. Launched a few years after PayPal and Neteller, the principle is again the same. Skrill are part of the Paysafe group which also owns Neteller and PaySafeCard. As with Neteller, Skill payments are widely accepted by bookmakers but unfortunately similar controversy means many do not give welcome offers to accounts funded this way. Read more.
If you want a major alternative to the services describe above to fun your online bookmaker account then consider ecoPayz. With all the features and services available from the PaySafe group and PayPal (including associated MasterCard, prepaid cards and more) this operator have actually been around since 2000 and are one of the oldest eWallet services around. New customer free bets and bonuses are not restricted with ecoPayz unlike Skrill and Neteller and therefore this is one of the biggest benefits in using ecoPayz as an alternative to the others. Read more.
If you have an Apple iPhone, iPad, Watch, or any other touch ID enabled device from the company (including MAC's) you can now use your Apple Wallet to deposit into some online bookmakers directly through the app or website. This is the most convenient and instant deposit method I've ever seen. The service is fee free with similar limits to card payments and is highly secure, replacing your personal details with a one of security token so that you bookie has no need to see or store your card details. Read More.
Other Digital Wallet Services
There are plenty of other eWallet services out there, some are more popular in some countries and regions more than others. In our bookmaker guides we cover some of the other major types in case you want to bank with another digital provider or if you already have an account and want to know where you can use it. Several UK bookmakers such as William Hill have vast arrays of payment options and will accept Click2Pay. ClickandBuy, Entropay, InstaDebit, WebMoney, Usemybank and others. For individual bookmakers that accept other digital wallet services see our betting site reviews.
Cash and Cash Alternatives
The switch from high street to online bookmaking has been brilliant for the punter for so many reasons. There are more bet types available, a greater range and depth of markets, games, live betting, streaming and most importantly tons of better value promotions and offers around. One of the only downsides to this however is the lack of options to bet in cash.
In the old days most bets were placed in cash, but what do you do if you still want to bet in cash but you want to use an online account? Do not worry there are options out there for you, from depositing cash in betting shops to use of pre-payment cards and cash voucher services such as PaySafeCard. Read our guides below to find out more.
Some of the bigger bookies that still have a high street presence will allow you to deposit and withdraw to and from your online account direct through their existing betting shops, others allow you to withdraw from ATMs using linked pre-paid cards. For whatever reason you want to bet in cash you shouldn't be excluded from accessing the great markets, features and offers available online. Find the best bookie for betting in cash online. Read more.
There are now several bookies that will let you link your online account and in shop betting with a cash card. These one wallet systems let you do more than just deposit and withdraw in cash they also allow you to retain access to many online features such as offers, free bet clubs, bet trackers and even cash out facilities. Having a cash card with some of the leading UK high street bookies can increase your betting options and even give you additional rewards compared to online betting alone.
Services such as PaySafeCard can be used to load funds into your online accounts without the need for a bank account. Voucher can be purchases online or in certain high street shops using cash or any other major payment method. Many bookies now accept these payment methods too, and although there are restrictions on withdrawals and generally lower limits this is a good means to pay in cash with online only bookmakers. Read more.
Ukash was a form of cash voucher that allowed you to load money into your betting account you simply need the voucher number, no bank details required. Ukash is now part of the Paysafe group and all of the services Ukash used to provide are now available through PaySafeCard. If you would like to know more about Ukash and how it worked you can still read our page. Read more.
Virtual & Digital Currencies
Virtual currencies, such as Bitcoin, are separate from existing traditional currency such as the Dollar, Pound or Euro. These are 100% digital and are not linked to any specific country or economy. Instead these new forms of money are supported by networks of people that use them. Some betting sites have started to accept deposits in these new forms of digital cash, offering punters a great new way of keeping control of their funds away from traditonal banks.
Initially seen as a flash in the pan that wouldn’t catch on Bitcoin has beaten its doubters to become the largest decentralised crytogrpahic virtual currency. With Bitcoin you become your own bank, storing, sending and receiving payments digitally. The system is fast, secure, very cheap and can pretty much be used anywhere in the world. Betting sites in the UK are now accepting Bitcoin deposits and this is a great new alterative to traditional banking methods. Read more.
Other Payment Options
There are plenty of other banking options available for depositing funds to UK betting sites. We can't cover every method but you will find some of the other major payment methods from BACS and Bank Wire to the good old Cheque listed below.
Bank transfers in particular are very common means to fund online bookies, in part due to the fact they usually come with the highest maximum limits and no fees.
A bank wire or transfer is simply an authorisation for you bank to transfer money from your account to another bank account. In the UK we tend to refer to these payment types as BACS, CHAPS and faster payments. All essentially do the same thing but some may take more time than others. Bank wire transfers to online bookies don't usually come with a fee but your bank can charge you a fee for using these services especially if transferring between different countries and currencies. Read more.
Cheque Betting Sites
Remember the cheque, that piece of paper that people used to pay you with, you would take it to the bank, they would lose it, it would be reissued and some point about 3 weeks later you would get your cash. Seriously though if you still want to transact with your bookie by cheque you still can. A surprising number of bookies accept cheques, although do bear in mind you will need to post these to your bookmaker and wait for the funds to clear before you can place any bets. Some bookies will even let you withdraw using cheque. For individual online bookmakers who accept cheques see out betting site reviews.
Western Union Betting Sites
The Western Union money transfer system is one of the most global money sending services. Many bookies accept deposits and withdrawals through WU, but beware these can often carry fees. Details of betting sites that accept Western Union transfers can be found in the payments sections of our bookmaker guides.
Minimum and Maximum Bets, Deposits and Payouts
The variation between individual betting sites minimums and maximum deposits and bets can be quite astonishing. We have created the articles listed here to help you find the online bookmaker with the right terms to match how you would like to fund an account and bet your cash.
Deposit minimums can be anywhere from just £1 to hundreds dependent on where you bet and what payment method you use. Low minimum deposits doesn't always mean low stakes bets either. Depending on who you play with the minimum stake can vary from 3p to £2 for singles and terms for multiple bets can vary a fair bit too. Find the bookmaker with the best limits on funding your account and withdrawing your cash. Read more.
Most bookies set limits on maximum deposits and withdrawals, this is often more to prevent fraud than anything else. Find the sites with the right deposit, withdrawal, stake and payout maximums for you. There is no point winning a million if you are restricted to withdrawing it a few grand at a time, likewise there is no point putting on a large bet if your payouts are capped. We list sites maximum payouts and withdrawals so you don't get caught out. Read More.
While the highest payout for something like elite football and racing can often be in the region of £1M for the big bookies for smaller sports and minor events the limits can be a lot lower; for novelty bets it can sometimes be as low as £500. In our guide we list payout limits by sport for all major brands, it is worth knowing this before you bet as it's not just big bets that hit these limits long odds multiples can also easily hit payment limits for some sports. Read more.
The articles below are related to finance, banking, payment methods or funding a gambling site. For more see our betting guides section.
- Shop Card Schemes To Deposit, Bet & Withdraw
- Source Of Funds Checks For Gambling
- Does Gambling Affect Your Credit Score?
- What Happens To Bets And Winnings In The Event Of Death?
- Betting & Gambling Tax In The UK
- Problem Gambling And Fraud Prevention Measures
- Betting Sites Refuse To Pay, Limits & User Bans
- Why Do Bookmakers Limit Winning Punters?
- Betting Site ID And Verification
- What To Do If A Bookmaker Or Casino Closes
- Is It Still Possible To Defraud Betting Companies?
- Can You Be Forced To Pay Back An Incorrect Payout?
- Gambling Fraud And Theft
- Trading Vs Betting, What Is The Difference?