Financials in Sports Betting

Banking is one of the key features at any online sports betting site or casino. Why? It allows you to fund your betting account so you can bet and play with real money. It also enables you to retrieve any funds and winnings that you have accumulated. We all want to enjoy the betting and gaming experience but there is one end goal for all of us, and that is to take out more money than we put in.

What are the Most Important Points about Financials?

  • Security: Nowadays, all online customers are aware of secure banking and so this naturally becomes one of the highest priorities for all betting sites. Providing a secure and fast banking process is vital if they ever want to keep a loyal customer base, so those sites who go above and beyond to provide the full banking service will always attract the best online betting customers.
  • Opportunity to choose: What does the full banking service include? As we have already mentioned, security is of the utmost importance but also a wide range of payment options is essential for both deposits and withdrawals. Credit and debit cards such as Visa and Mastercard are top of the list with e-wallet options like PayPal and Neteller also becoming more popular these days.
  • Limits: The minimum and maximum limits is also a key feature that customers look out for, as this allows both casual and high rollers to play to their preferred budgets. Lastly, the speed at which the banking team process the payment requests has also become a top priority, with many of the top sites processing withdrawals in under 24 hours for the ultimate online banking experience.

Choosing Bookmaker with the Wide Range of Payment Options

We all have our own preferences when banking online and this is why betting sites provide us with several options to deposit and withdraw. The credit and debit card types of Visa, Mastercard, and Maestro can be found at nearly all online betting sites as these are the top choices for most players. It’s a simple transaction from bank to betting site and the minimum and maximum limits are usually more than adequate for most players, ranging from as low as £5 up to hundred and thousands depending on the specific deposit limit rules of the site. Withdrawals often take anywhere from 2-5 business days and most sites will not charge any fees but it is always important to double check just to make sure.

As technology advances, players like to use the latest trends and features and over the years the e-wallet option has become a hugely popular choice for many punters. There are two main reasons behind using an e-wallet over traditional bank cards. One is that you create more privacy and keep the gambling company names off your private bank statements, only the e-wallet brand name will show. The second is the speed and you’ll find that most e-wallet withdrawals take under 24 hours to process, meaning you’ll have your money out of the betting site and under your control a lot quicker than using Visa or Mastercard options. The latest trends include paying by phone and even the use of cryptocurrencies such as Bitcoin is available nowadays. We’ll explain these in more detail shortly.

Deposit options provided by leading bookmakers in UK:

Bookmaker
10bet horizontal logo
betsafe horizontal logo
paddypower horizontal logo
betway horizontal logo
betvictor horizontal logo
betfair horizontal logo
coral horizontal logo
skybet horizontal logo
boylesports horizontal logo
netbet horizontal logo
888sport horizontal logo
betdaq horizontal logo
betfred horizontal logo
32red horizontal logo
matchbook horizontal logo
unibet horizontal logo
ladbrokes horizontal logo
bwin horizontal logo
william hill horizontal logo
bet365 horizontal logo

The UK and Irish betting communities have access to a wide range of banking methods which allows them to freely move their money around. Banking online in the UK and Ireland is often a swift and trouble-free process and this is something that betting customers greatly appreciate. The betting companies know this and do their best to ensure that their banking section is full of the popular and latest payment methods. Yet, there are certain banking favourites that always seem to be used and trusted by the majority of the betting community.

Visa and Mastercard are the most frequently used payment types and the simple process is often the reason behind this. It’s easy to enter your details and once you have set it up the first time, you can store the details to receive your funds instantly with a click of a button every time thereafter. Punters want quick and easy banking so they can enjoy the betting experience without any hassle and using the likes of Visa and Mastercard allow this to happen.

Looking beyond the bank cards, PayPal quickly became a huge favourite due to its multi-use capabilities and the extra privacy measures it brings. It does add another step in the banking process if you want to get your funds back to your bank, however, many people keep their money stored in a PayPal account to use elsewhere. This could be at other betting sites or something completely different like online shopping. E-wallets can be very convenient and PayPal is the most accessible e-wallet option available to UK and Irish customers nowadays.

Withdrawal options provided by leading bookmakers in UK:

Bookmaker
10bet horizontal logo
betsafe horizontal logo
paddypower horizontal logo
betway horizontal logo
betvictor horizontal logo
betfair horizontal logo
coral horizontal logo
skybet horizontal logo
boylesports horizontal logo
netbet horizontal logo
888sport horizontal logo
betdaq horizontal logo
betfred horizontal logo
32red horizontal logo
matchbook horizontal logo
unibet horizontal logo
ladbrokes horizontal logo
bwin horizontal logo
william hill horizontal logo
bet365 horizontal logo

Banking Statistics from Top Betting Sites

Our site provides the most up-to-date analysis and statistics regarding all of the payment plugins being used across the top betting sites. It’s our aim to highlight the sites with the best banking options and quickest withdrawal processing teams. You’ll then have a clear view on which sites you should bet with in relation to your own personal banking preferences. The last thing you want is to be stuck with a betting site that only offers low withdrawal limits or extra fees that eat into your betting profits. Let us show you what we found from our in-depth analysis and we’ll then point you in the right direction, so you can then just sit back and enjoy the betting experience.

The most popular deposit methods used by punters in UK:

Player age
Bank payments
E-wallets
Credit Cards
Pre-paid vouchers
18-24 years old
38.01%
16.28%
45.58%
0.12%
25-34 years old
36.34%
18.39%
45.27%
0.01%
35-44 years old
28.94%
18.76%
52.31%
0%
45-54 years old
30.16%
14.74%
55.11%
0%
55-64 years old
19.56%
10.78%
69.67%
0%
65-74 years old
8.52%
8.52%
82.97%
0%
75 years or older
14.39%
26.62%
58.99%
0%

As our analysis shows, despite the variety of payment methods offered nowadays, credit card payments are still on top. This method shares 45,58% of all payments made among younger people and reaches astonishing 82.97% within the 65-74 age group. As expected, this number is growing as the age goes up.That is easily explained as older people tend to be more conservative about everything they do, including online payment, while e-wallets is something totally new to them. 18 to 44 year olds share the largest part in e-wallet usage, as these generations (especially the generation Z who literally grew up with smartphones in their hands) take full advantage of everything the Internet has on offer. Additionally, due to growing credit/debit cards fraudulent activity, which younger people are more aware of, they prefer to use different payment systems with additional safety measures instead of paying directly with their cards.

The most popular withdrawal methods used by punters in UK:

Player age
Bank payments
E-wallets
Credit Cards
Pre-paid vouchers
18-24 years old
43%
8.84%
48.16%
0%
25-34 years old
42.43%
10.65%
46.92%
0%
35-44 years old
3.42%
14.88%
51.7%
0%
45-54 years old
29.6%
12.49%
57.91%
0%
55-64 years old
19.54%
8.45%
72.01%
0%
65-74 years old
18.38%
4.41%
77.21%
0%
75 years or older
18.18%
29.55%
52.27%
0%

Credit/Debit Card

The likes of Visa and Mastercard were around long before the era of online betting started. It was the obvious choice for betting sites and customers due to the worldwide acceptance of the payment method and the ease at which they can be used. However, the growing concern of cyber fraud is something that onliner punters consider nowadays and this kick-started the growing trend of using e-wallets. Visa and Mastercard are still widely used but there is less of your money at risk when using the likes of PayPal and Neteller.

PayPal

Paypal was the first e-wallet to be used for funding online betting accounts and was initially only available in America in the early 2000s. Since then, PayPal was bought out by Ebay, increased its customer reach across the globe, and then the company became a single entity in 2015. PayPal is still the number one e-wallet available across all online betting sites and offers the best security and features to enhance your betting experience overall.

Neteller

Neteller is regarded as the next biggest e-wallet option in the UK and Ireland, although its origins are traced back to Canada in 1999. The e-wallet provider only really started to make a name for themselves in the online betting world when they migrated over to the UK in 2004. Although unavailable in certain areas of the world, Neteller is still a common choice for many UK and Irish customers when funding their betting accounts.

Banking Preferences by Countries

Finding the right payment method is essential if you intend to enjoy online betting for years to come. The right method could save you hundreds, if not thousands, over the space of several years if you choose one without extra fees and charges. Some online customers like to choose the easiest option but sometimes this is not always the best option. A little extra time and care with your hard-earned money is worth it and you’ll not only have more to bet with, but also more to enjoy when you withdraw your winnings. Banking is never fun but it is important, especially when it comes to online betting.

Deposit options preferred by european punters:

Country
Bank payments
E-wallets
Credit Cards
Pre-paid vouchers
United Kingdom
3.94%
5%
91.06%
0%
Germany
62.48%
28.75%
8.77%
0%
Austria
48.1%
35.93%
15.97%
0%
Italy
2.2%
33.65%
64.15%
0%
Netherlands
19.76%
75.24%
5.01%
0%
Sweden
96.86%
1.38%
1.76%
0%
Norway
0%
97.96%
2.04%
0%
Albania
0%
76.79%
23.21%
0%
Belgium
0%
0%
100%
0%
Brazil
0%
94.74%
5.26%
0%
Bulgaria
0%
40.65%
59.35%
0%
Canada
0%
100%
0%
0%
Croatia
0%
92.86%
7.14%
0%
Cyprus
0%
51.47%
48.53%
0%
Czech Republic
0%
98.25%
1.75%
0%
Denmark
0%
16.06%
83.94%
0%
Estonia
0%
12.5%
87.5%
0%
Finland
54.69%
39.18%
6.12%
0%
Greece
0%
84.75%
15.25%
0%
Hungary
0%
48.98%
51.02%
0%
Iceland
0%
0%
100%
0%
India
0%
33.33%
66.67%
0%
Ireland
0.53%
15.96%
83.51%
0%
Latvia
0%
16.36%
83.64%
0%
Liechtenstein
0%
0%
100%
0%
Luxembourg
0%
28.57%
71.43%
0%
Malta
0%
70.37%
29.63%
0%
Mexico
0%
0%
100%
0%
Monaco
0%
0%
100%
0%
North Macedonia
0%
0%
100%
0%
Portugal
0%
16.87%
83.13%
0%
Romania
0%
54.17%
45.83%
0%
Serbia
0%
100%
0%
0%
Slovakia
0%
100%
0%
0%
Slovenia
0%
96.97%
3.03%
0%
South Africa
0%
28.57%
71.43%
0%
Spain
5.17%
0.86%
93.97%
0%
Switzerland
0%
100%
0%
0%
Turkey
0%
0%
0%
100%

It’s these extra additions to a banking section that gives the customer freedom to bank with the payment methods that suit them. The likes of Visa and Mastercard are still widely trusted but PayPal is up there alongside them in the popularity stakes, and who knows how the “pay by phone” and cryptocurrencies methods will evolve. The one key factor for betting customers like you is that you have options with your banking. To be able to choose how you move your money to and from the site is important, and should never be underestimated by online bookies especially if they want to create loyal customers.

Withdrawal options preferred by european punters:

Country
Bank payments
E-wallets
Credit Cards
Pre-paid vouchers
United Kingdom
12.65%
7.16%
80.19%
0%
Germany
83.3%
15.93%
0.78%
0%
Austria
85.65%
14.19%
0.16%
0%
Italy
0%
51.85%
48.15%
0%
Spain
0%
0%
100%
0%
Albania
0%
100%
0%
0%
Brazil
0%
100%
0%
0%
Bulgaria
0%
82.05%
17.95%
0%
Croatia
0%
100%
0%
0%
Cyprus
0%
43.24%
56.76%
0%
Czech Republic
0%
100%
0%
0%
Denmark
0%
62.5%
37.5%
0%
Estonia
0%
11.11%
88.89%
0%
Finland
73.37%
23.53%
3.1%
0%
Greece
0%
96%
4%
0%
Hungary
0%
100%
0%
0%
Iceland
0%
0%
100%
0%
Ireland
4.67%
30.84%
64.49%
0%
Latvia
0%
46.15%
53.85%
0%
Liechtenstein
0%
0%
100%
0%
Luxembourg
0%
0%
100%
0%
Malta
0%
91.67%
8.33%
0%
Netherlands
68.37%
27.89%
3.74%
0%
Norway
0%
100%
0%
0%
Portugal
0%
6.9%
93.1%
0%
Romania
0%
50%
50%
0%
Serbia
0%
100%
0%
0%
Slovenia
0%
100%
0%
0%
South Africa
0%
100%
0%
0%
Sweden
98.6%
1.2%
0.2%
0%

United Kingdom

The UK has always been heavily reliant on the Visa and Mastercard options when it comes to online betting and funding accounts. But there has never been any cause for concern as these are two of the most well-respected banking options in use, not only in the UK, but across the world. Safe and secure banking has always been linked to the names of Visa and Mastercard, and so any UK betting site worth using will have these payment options available. Growing trends and technological advances have seen the growth of e-wallets and even more recent additions such as ‘pay by phone’ options and cryptocurrencies being used. E-wallets are by far the second most popular payment options in the UK though with PayPal leading the way, followed by Neteller.

Ireland

The Irish betting community have the same options available to them as the UK. Visa and Mastercard are accepted across the country with no extra fees or charges, and so these are the two common banking choices. American Express and Maestro often find their way onto the banking list at many Irish betting sites as well. The one e-wallet that gets most use out of the Irish customers is Neteller, followed closely by PayPal. Skrill is also widely used in Ireland thanks to its huge following in Europe but it does come with withdrawal fees, something that its rival PayPal doesn’t include.

Payment Methods used for Online Betting in UK & Ireland

The UK and Ireland are both huge countries when it comes to betting, both in terms of the number of punters and also in the number of sporting events found in the region as well. Football, horse racing, greyhound racing, rugby, tennis, cricket, golf, the list goes on and on. Sports and betting has always been a much-loved combination for the UK and Irish punters, and so a wide range of banking methods has always been made available to please the passionate betting fans. Online bookies and casinos both need to offer the full betting service to keep a loyal customer base, and the banking section is one of the key factors for customers when looking to sign up to a new site.

The UK and Irish punters have been betting online since the very early days of the iGambling era. It was a natural progression to move online from the hundreds of betting shops commonly found amongst the high streets. Betting has been a tradition for many generations of families and so the UK and Irish public were more than ready to start betting online. One of the key factors behind this quick surge in online gambling was the readymade banking methods in use throughout the country. Visa, Mastercard, and Maestro were all in use through the early days of eBay and Amazon in the mid 90s. So, the public had their bank cards ready and waiting for when the sports betting sites first arrived.

Naturally, being a new type of experience never seen before, there was some hesitation at first. Punters soon took to the idea though and the rush for companies to build their own online sports betting platform began. Not all of these new sites understood the value of a well-detailed banking section though. Online bookies can only make money if their punters can fund their accounts using the payment methods they are happy using. A full collection of banking methods should be priority for any site that wants to attract the big betting crowds. The question is, which of these banking methods should the bookies be making a priority?

One or two banking methods should be making the top spot for any UK and Irish gambling site and that’s Visa and PayPal. Visa being the most popular bank card type on both the UK and Irish betting markets. When it comes to the e-wallets then our research shows that PayPal should be available in the UK and Neteller in Ireland, however, to cover all bases then both should be readily available along with Mastercard to complete the top four payment methods across both regions. These four types should cater for the majority of all UK and Irish punters but unfortunately for the online bookies, it’s simply not enough in these modern times. With more and more different e-wallet options being made available, some punters like to spread their money around and this means keeping a banking section up to date with all of these new payment options.

New e-wallets that have been introduced over recent years include Trustly, Skrill, PaysafeCard, and Sofort. Most of these are widely used in Europe and occasionally in the UK, but having the option to use these has been a necessary business choice made by the UK and Irish bookies to cater to everyone’s needs. Technology never stops moving and this has resulted in new types of payment options being offered to the public, none more so than the recent “pay by phone” method with the Boku company leading the charge. All deposits are added to your monthly phone bill or taken off your current pay-as-you balance in what becomes a quick and easy process. It’s all managed via your phone with a simple text verification to ensure that it’s you who is making the deposit. The technology is not completely new but it has only just started to get introduced into the online betting scene. We can see it becoming more popular as mobile gaming and mobile use in general increases every year. The only downside is that you can’t withdraw money due to the nature of the phone billing process. The last new addition to the banking section has been the arrival of cryptocurrencies and a few sites are now starting to include this as an option. It’s not a method that will takeover Visa or PayPal any time soon, but there are punters around the UK and Ireland that own the likes of Bitcoin and who are willing to use it when gambling online.