Most popular payment methods
While there are many Deposit Methods for betting in UK, not all of these payment methods are accepted by all sportsbooks. Sportsbooks accept payment methods which are reliable and secure. If you want to Deposit Money into a betting site in UK, it is necessary to go through the security features of the specific payment method. Here are the best payment methods based on their security and reliability:
Paypal is a reliable online payment method. Paypal uses a 2-factor verification where you have to input a PIN. Plus, it has a top-of-the-line SSL encryption. Deposits and withdrawals are also quite fast using Paypal. The only problem with Paypal is that it can charge a fee when you are making a deposit or payment with it.
Visa is an extremely reputable payment method both online and offline. Visa provides you with a CVV code for security measures. Plus, when you do any transaction, you receive an OTP or One-Time Password on your phone. While Visa is extremely secure, withdrawals can be a bit on the slower end.
Many casinos prefer the Mastercard over other payment methods. Along with excellent customer service, Mastercard also offers impressive security features. Mastercard has a zero liability policy against any unauthorized transaction so, your money remains secure with it. The disadvantage of Mastercard is that it takes time when it comes to withdrawals.
Skrill is a recent e-wallet which is known as one of the fastest payment methods in the world of sportsbooks. You can store your bank card details in Skrill, like in Paypal. The Financial Conduct Authority authorizes Skrill to conduct payments. The Financial Conduct Authority monitors more than 56,000 financial institutions in the UK, and so, with their authorization, you are sure that Skrill is a trusted site.
Besides, you get a 2-factor authentication to secure your financial and personal details. It is also highly encrypted. However, Skrill can attach a small fee against transactions, and not many casinos accept it. Sometimes casinos can put withdrawal and deposit limits if you use Skrill as a payment method.Betting.co.uk provides skrill deposit method guide and bank transfer payment method guidePy which will help you in payment processor.
Neteller has a long heritage as an e-wallet, and so, it is trusted by online gambling veterans. Neteller has installed the most modern security features and anti-fraud tools to ensure that the payments are secure. It also has 128-bit encryption technology to keep your data safe. The trusted Financial Conduct Authority authorizes it. However, Neteller can charge you a fee against your deposits.If you are going to deposit using Neteller then you should check deposit method guide of Neteller.
Average times for deposits and payouts
Generally, the duration depends both on the payment methods used as well as on the terms and conditions of the payment operator. These are the average duration of withdrawals and deposits of the top payment methods:
Deposits made through Paypal are quite fast. It can take only a few minutes for you to make a deposit using Paypal. Withdrawals can take a bit of time going up two to five days. However, there are a few casinos and sportsbooks that limit deposits and payouts as well, so read the terms and conditions of the operator before applying.If you are thinking of making a deposit through Paypal then you may check Paypal deposit method guide that will help you to understand the Paypal payment processor.
Visa is accepted payment by most sportsbooks. It also allows you to make large deposits. Deposits do not take much time and happen in real-time. Withdrawals, however, can take a lot of time. It takes about three to five days for withdrawals on Visa.
Mastercard has an excellent reputation when it comes to fast deposits. Deposits on Mastercard happen within a few minutes. However, withdrawals can take a lot of time, going up to three to five days.
Skrill advertises itself as one of the fastest deposit and payment methods, and it stays true to its promise. Deposits using Skrill can take within a couple of minutes to an hour. Withdrawals are quite fast, taking only a few hours to a day to withdraw. However, many sportsbooks can place limits on payment and deposits when using Skrill.
As an e-wallet, Neteller keeps the transfer process quite convenient and fast. Deposits can happen within a couple of minutes. Withdrawals, however, take a little bit of time, around two to five days. The delay can also be attributed to the internal systems of specific sportsbooks.
Payment methods verification requirements:
Since deposit methods for betting in UK use real money, they require you to go through an extensive verification process before you deposit money into a betting site in UK. While the verification process may seem lengthy and exhausting, it is just a method to ensure that your account is secure. The top payment methods use different verification methods, as well.
Here are the verification requirements that the top deposit methods for betting in UK used:
Log in with your User ID and Password to enter your Paypal account. To verify, you have to go to the Verify button on the upper-left part of the window. You will come across the ‘More about your account’ section. Click on Get Verified. You can input your personal and financial details here to get verified by Paypal.
When you are using Visa, you would be using either a Debit card provided by Visa. For verification, you will be asked to provide the CVV code at the back of the card. You may also receive a One-Time Password or OTP on your mobile phone or email, which you have to input to verify you are the one authorizing the payment.
Mastercard uses Mastercard SecureCode to verify its users. The SecureCode is delivered as an OTP to your mobile phone via SMS.
For Skrill registration, you have to input your details and your email address. You will receive a verification link on your email address. Now, click on this link to verify the account.
You can register on Neteller by inputting your personal details and an email address. You will receive a verification link on your email address. Click on the verification link to get your Neteller account verified and activated.
Editor’s recommendation – operator with the fastest payment handling
As the payment handling of each payment operator depends on both the payment operator and the sportsbooks themselves, it becomes difficult to zero in on one payment operator. If you are choosing based on fast deposits and withdrawals, you could go for the e-wallet option – Skrill. Skrill makes deposits within a couple of minutes, and the withdrawal time is faster than most payment operators – around one to five days. However, Skrill may not be accepted by many sportsbooks, and if approved, there can be limits put on withdrawals and deposits. If you want to take a more reliable and universally accepted payment method, you should go for Visa cards. You can even make large deposits using Visa cards. However, the withdrawal time will be very slow.
Payment method FAQ
When you are going through the payment methods accepted by each sportsbook and wondering where you should Deposit Money into a betting site in UK, you might have some questions:
Q1. Do I have to use the same deposit and withdrawal method?
Sportsbooks generally ask users to use the same withdrawal and deposit method for security and anti-fraud purposes.
Q2. Why can I not get my entire day’s withdrawal amount?
Sportsbooks tend to put withdrawal limits on specific payment methods. So, you may not be able to withdraw all of the amounts you won on a day.
Q3. Do I have to put in the right credentials?
You have to put the right information when you are registering for your sportsbook or your payment operator. Proper information can help operators keep your money safe.
Q4. Why does my operator block my account?
Operators can block your account if there is a problem with the verification process or if the inputted information doesn’t check out. You can contact support to help you with this process.
Q5. What payment method will get me a guaranteed bonus?
Different payment methods enforce various kinds of bonuses. Read the terms and conditions of the operator against a payment method before applying.
You need to examine the accepted payment methods and the security features that each operator offers before trying to deposit money into a betting site in UK. Going through the security features of the payment method and the verification process will ensure that you are dealing with a secure operator. You should also read the terms and conditions of the sportsbook to understand the withdrawal and deposit limits if any. Finally, you should check proper payment method comparisons and try to choose a payment method based on your requirements – whether it be speed, security, convenience, or reliability.