What are the various ways tennis fans can deposit or withdraw money into their bookmakers accounts for tennis betting? Here’s our guide for the different, available options for banking available in different countries for online tennis betting.
Tennis being a very popular sport around the globe, betting on tennis too has become prevalent. One of the major reasons behind this is online betting. It is quick, hassle-free, easy and also enables punters to do real-time betting from the comfort of their homes. Unlike olden times, you no longer need to physically go to the bookmakers office to place your bet or collect your winnings; all this now happens virtually, saving you a ton of time and effort.
So with this rise of online tennis betting, countless banking options have also shroomed up in this space. To even start off with betting on tennis, you obviously need to deposit some money into the betting account on the betting website of your choosing.
Furthermore, you will also need to have a method of withdrawing money from that account some time in the future when you do win. To do all of this and move your money around, you have quite a lot of choices and not everyone is well-informed on that front so we decided to give you a helping hand and lay out all the banking options.
Hopefully, with this piece guiding you and informing you of the options, you will have no further problems in determining which method suits you best.
Before we give you the various banking options, keep in mind that certain banking methods may not be valid in your country. But worry not, we will mention it as we go so that you know exactly which ones you can use.
So now take a look at the various banking and payment options you can avail in order to start your online tennis betting journey.
Credit and Debit Cards
Credit and debit cards are a very common method of making payments in everyday life. The same holds true for online tennis betting as well. This is possibly the most common method used by punters as the payment method. There are fees that you will be charged for using certain card types or certain providers, while there are also minimum and maximum limits which you have to adhere to.
Visa and Maestro and other debit cards are a widely used and accepted method of making transactions to the online bookmakers. Debit cards are linked to your bank account directly and hence the money you require is drawn from the account balance. The best thing about this is that your online betting account can be funded with debit cards without any transaction fees, if it is in the same currency.
The two most common and widely accepted types of credit cards are Visa and MasterCard. In most cases and for most tennis betting websites, where one type is accepted, the other will be too most likely. Usually, making deposits and withdrawals from your online betting account using credit cards does not incur a fee on you, however, the bank may still charge you a fee for making a deposit. When you make deposits to your online bookies, it is categorised as a cash transaction and hence you might have to pay a cash fee for it.
Among VISA cards, Entropay card is accepted by many European betting websites and so makes for a good reliable and safe method of payment. What’s more, the sign up bonuses offered by online bookmakers is also available in Entropay unlike other such methods.
Note that American Express cards are not widely accepted in the UK, in particular, due to its high processing fees, however, in Australia, Amex cards can be used to make deposits, but not for withdrawals.
The big online betting websites like Betway and Bet365 offer its Indian customers the option to manage their account in Rupees.
Digital wallets are quite common in today’s age and hence you will also find that most tennis betting websites accept eWallet transactions.
With eWallets, you can simply transfer money to and from your bank account. This method of payment is a great option as it helps you keep track of your transactions and furthermore, gives you added privacy since the bookmaker transactions do not appear on your bank statements. This makes for a very easy and quick payment method since you do not have to keep filling in your account details every time you want to make a transaction.
Among the most widely used eWallet service in Europe and UK is PayPal. Many may already have PayPal accounts and so can easily use this method to make transaction on betting sites. While it is accepted by most online betting websites, there may be a few exceptions. PayPal is accepted by Australian sports bookmakers as well since sports betting is legal in Australia.
Another popular eWallet service is Neteller. With a long association with online betting websites, it is responsible for a high percentage of payment processing in the online betting economy. Skrill too is very popular and widely accepted in Europe and Australia.
Neteller and Skrill are also accepted in India. The major advantage here is that you can make all your transactions in Rupees which is always recommended for Indian punters.
Virtual Currencies [Crypto-currency like Bitcoin]
Virtual currency has now taken off and is becoming a part of our society. They are completely digital and are separate from the existing traditional currency.
Many betting sites have now started accepting virtual forms of currency. While there are many forms of such virtual currencies, most of you will be familiar with Bitcoin. Bitcoin is one of the frontrunners in the existing virtual currencies and is now being accepted by many betting websites.
This payment method makes for a good one and enables you to keep your betting and normal transactions separate. It is better to not tangle yourself up in cryptocurrencies for making your betting payments. Use this method only if you have prior experience with it and are familiar with this form of currency.
Bank wire is a very common method of payment to online bookies. With a bank wire, you simply authorise the bank to move funds from your account to another account.
This a quick and convenient method of payment and is certain to be accepted by most sites. This is quite a common payment method since it has higher maximum limits than other methods and also usually has no fees charged. However, some banks may charge you fees if you are transferring funds in another currency or country.
Some bookmakers have an option in some countries to allow users to opt for prepaid vouchers like Astro Card or Paysafe Card. These cards can be bought using different denominations that are available with the seller without revealing your banking information and can be used on these bookmakers sites if they allow it.
For instance, tennis bettors in USA can use the Paysafe Card to deposit money into their bet365 accounts.
The old, traditional way of depositing or withdrawing money into your tennis bookmakers account. And the most cumbersome too. It typically takes five to 28 days to deposit the money using this method of payment and something similar for withdrawals too, making it the least-liked method among tennis betting fraternity.
One other issue with cheque payments is that the minimum amount allowed to be deposited is usually way larger than the other aforementioned methods.
That said, if you have no other option and don’t want to go through the hassle of creating accounts with e-Wallets and if the bookmaker allows this method in your country, then it’s a good way to go about your business.
Other Deposit or Withdrawal Options
- Klarna by Skrill (for Instant Bank Transfer)
- EPS by Skrill (for Instant Bank Transfer)