Most Popular Payment Methods
Newcomers to online gambling will find themselves pondering gambling deposit methods as they open new accounts at casinos and bookmakers. It can be hard to know what benefits each of the various betting deposit methods offer to punters. Safety and security are obviously important considerations too, especially when your hard-earned money is at stake.
You can get a good idea about the best casino deposit methods by reading our reviews here at Betting.co.uk. In those reviews, you can read about which methods are favoured by each operator. In truth, if you have a Visa or Mastercard debit card you are well served. Debit cards from those providers have their own security systems to keep you safe, and they are also accepted at the vast majority, if not all, of the operators currently active in the UK market.
But as well as debit cards, you can also use a range of e-wallets to fund your account at most operators. The likes of PayPal, Skrill, and Neteller can be used at many bookies and online casinos. You might also sometimes see other methods like PaySafeCard, Zimpler, Boku, or Neosurf on offer too.
Using these methods will sometimes prevent you from claiming welcome bonuses and other offers, but they are very safe and reliable. There is sure to be a method out there that will suit you.
Average times for deposits and payouts
One concern that many newcomers to online gambling have around the issue of gambling deposit methods is how long it takes for your deposits and withdrawals to be processed. You can be reassured, however, that most casino deposit methods process your withdrawals and deposits very quickly indeed. The vast majority of operators will accept withdrawals into your account on an almost instant basis, or at least within an hour or two at most.
When it comes to withdrawals, matters can sometimes take longer. This is usually due to there being more a security process around withdrawals, and how long the payment method itself takes to process things. But this process is rarely longer than two or three days, and can be much quicker than that too, depending on the online casino deposit methods that you favour using.
The vast majority of casino deposit methods will allow you to withdraw your funds within two or three working days at most, though some could take longer. This depends on the operator that you are using, though. Always check the help section of an operator’s website, as this can give you detailed information about how long withdrawals and deposits take to process.
Payment methods verification requirement
Another issue around betting deposit methods that concern many punters, especially those new to online gambling, is what they will need to provide for verification of their identity when they open an account. Betting operators and online casinos need to protect themselves and their customers from criminal activity, whether that be underage gambling, fraud or money laundering, and verification of their customers’ identities is a big part of doing this.
The good news is that most verification can be carried out by you simply providing your name, a UK address, and a payment method. If your payment method is a debit card linked to a UK bank account then that is usually all that is needed. Being registered on the UK Electoral Roll will speed up this process for you too. You must also usually tick a box verifying your age when you open an account at an operator.
In some cases, you may well be asked for additional verification before you can make a withdrawal. If this happens, then you need to be able to provide a photo ID, such as a passport or driving licence, a payment ID, such as a recent bank statement, and a proof of address, which can be a utility bill. You can usually provide scans of these rather than sending in original documents.
Editor’s recommendation – operator with the fastest payment handling
When it comes to making a recommendation from the range of gambling payment methods that are available for punters to use, our choice is for debit cards. These debit cards should be issued by Visa or Mastercard, as these two options are accepted almost universally across the online gambling sector. You should also remember that you cannot use credit cards to fund your account now in the UK. So debit cards also offer a great deal of convenience. They are also safe and secure, as both Visa and Mastercard have their own highly developed security systems in place. Both are also well-known brands that have developed fine reputations over many years.
Payment Methods FAQS
In this section we’ll attempt to answer some of the more common questions that punters have about casino deposit methods. Read on to see if your concerns and issues are raised and dealt with here.
Can I always claim the welcome bonus with any payment method that I use?
This is an important question that any newcomers to online gambling should make sure that they are aware of. Using some gambling deposit methods can mean that you are not able to claim the welcome bonus and other offers that might be available. This restriction is usually applied to the use of e-wallets like PayPal, Skrill, or Neteller. While some might not see this as too much of a restriction, given that new customers are under no obligation to accept a bonus, other punters should make sure they check the terms and conditions of an operator before they open an account if they are keen on picking up extra bets or bonus credit.
This is not an uncommon condition and is one that you will find in place at most UK online casinos and sportsbooks. If your choice of betting deposit methods is limited to e-wallets, you need to know that your choice of bonus offers is going to be much more restricted than it is for someone who uses Visa or Mastercard debit cards to fund their account.
Why can’t I use my credit card as one of my chosen betting deposit methods in the UK now?
From April 14, 2020, punters in the UK have not been allowed to use their credit cards as gambling deposit methods. This is due to a change in legislation that is intended to protect problem gamblers. Estimates from UK Finance, the trade body for banks and the finance industry, suggested recently that around 800,000 people were using credit cards as the main way of funding their casino or sportsbook account. According to the UK Gambling Commission, the body responsible for issuing licences to operators in the British gambling industry, 22% of people using credit cards to pay for online bets were classed as problem gamblers. As a result, punters can no longer use credit cards as casino deposit methods.
Can I fund my betting account directly from my bank account?
Yes, you can often fund your betting account by transferring funds directly from your bank account. This can be one of the most secure gambling deposit methods you can use. One drawback of using this method, however, is that it can take longer for withdrawals and deposits to be processed. Rather than being instantaneous or processed in a couple of days, withdrawals and deposits might take as long as 10 working days in some instances. While we would not rule out you ever using your bank account as a payment method, it might be more convenient for you to use the debit card associated with your bank account, especially if you are keen on getting your hands on your money quickly.
Do I get charged for withdrawals and deposits at an online casino or sportsbook?
While most operators will not charge you for making withdrawals and deposits, some casino deposit methods will charge small fees. You can check this by contacting the payment method’s customer services team. Many online casinos and sportsbooks will also have this information in the help sections at their websites, though, or you can check with the operator’s own customer services team.
Charges are usually very small when they are applied, but no one likes paying additional fees, especially not on their winnings, so it is always a good idea to check. Again, out of all the betting deposit methods on offer, debit cards tend to be the ones that are most convenient and don’t charge fees.
Can I add more than one card to my account?
Yes, many operators will allow you to add more than one debit card to your account. Again, if there is any doubt about this for any reason, you need to check with the operator’s customer services team. At least one operator we know allows you to add up to three cards to your account. One thing to remember, though, if you want to do this, is that you can only add cards that are in your name to your account. You cannot use a family member’s card or a friend’s card. All cards that you attach to a gambling account need to be in your name.
Bankroll Management is key to gambling success
Whatever choice you make when it comes to gambling deposit methods, one thing you always need to remember is that it is your responsibility to manage your funds as carefully as possible. Choosing the best from the available casino deposit methods can help with this, but ultimately it is down to you. If you do not keep a close eye on your funds when gambling you can soon experience problems. You may end up spending more than you wanted to, or chasing losses and getting yourself into trouble by placing a series of ever-increasing bets at longer odds. This can be disastrous for your personal life, and cause problems in your relationships, with your employer and lead to you becoming addicted to gambling.
So as well as choosing the best possible option from the range of betting deposit methods, you should also set yourself limits around your gambling. You can set yourself time limits, for example, where you only bet or play in the casino at certain times of the day. You can also set yourself financial limits, where you set aside a specific amount of money for gambling each day, week, or month, and then stop when those funds are exhausted. Many operators also allow you to set this kind of limit yourself on your account with them. This is a good option to explore if you find yourself spending more money than you would like on your gambling.
As you can see, you have plenty of options when it comes to gambling deposit methods. You need to choose a method that is not only convenient but also safe and secure. If you want to claim welcome bonuses or other promotional offers from a casino or sportsbook then you also need to check that your choice of payment method allows you to do this. You also need to look at how long the processing times are for each method at your chosen operator and whether any fees are applied to your transactions.
Out of all the betting deposit methods on offer, we would recommend using Visa or Mastercard debit cards. A debit card combines security with convenience and is probably the safest of all the casino deposit methods that you can use.