Sports betting is dependent on making use of payment and withdrawal methods. To place a bet, you are going to need to make a real money deposit in your sportsbook account. If you win any cash, you’re going to want to withdraw it from your account.
On this page, we teach Australian punters all they need to know about banking at sportsbooks. This includes the available payment options at the best sites, how to choose a payment method as well as providing a list of sports betting sites with the best banking options. So, read on to find out more.
Betting Sites with Top-Rated Payment Methods
Payment Options at Sports Betting Sites
In order to get started in sports betting, you’ll need to make a deposit in your user account. If you are skillful enough, you may win a bet and want to withdraw your winnings. There is a whole load of different sports betting payment methods you can use to perform deposits or withdrawals at the best Australian betting sites. Some of the most popular options include the following:
- Debit and Credit Cards – this is the most commonly used deposit and withdrawal method at bookmakers. The most widely accepted debit and credit cards are provided by Visa, Mastercard and American Express. It is important to note that while debit card withdrawals often aren’t limited, credit card withdrawals are limited to the amount previously deposited into your account.
- Prepaid Cards – many punters prefer to use prepaid cards from big financial services providers like Mastercard, Visa and Paysafecard to make deposits. This way they don’t have to share their bank account details with the site.
- PayPal – the most popular e-wallet system in the world is available at most legalized online betting sites in Australia. The fast and efficient banking method allows punters to make instant deposits into their account.
- Other e-Wallets – some sports betting sites also allow punters to use other e-wallets to make deposits and withdrawals. Some popular options at Aussie sports betting sites include Neteller, Skrill
- Bank Transfers – the oldest money transfer method is available at almost all betting sites. There is a big drawback to using this method though and that is that it takes several days for transactions to be processed.
- Cheque – some sports betting sites still allow Australians to make deposits through cheque. It takes several days for this banking method to be processed. This means longer waiting times for deposits or withdrawals.
How to Choose the Best Deposit Method
When choosing a banking method, it is important to keep a few different things in mind in order to make the right choice. Remember that not all banking methods are the same. Each service has its own advantages and disadvantages. Here are some details to focus on when choosing a payment or withdrawal option:
- Convenience – it is important to make sure that you use a banking method that you find convenient. It is important to note that some methods are processed quicker than others which means you can begin gambling sooner. Some may also require that a bettor go through rigorous tests before they are able to make a deposit.
- Fees – some deposit methods have associated payment fees attached. For example, when ever you make a credit card transaction, your bank will probably charge you a fee. This is not even to mention the fees bookmakers may charge you for handling your cash. It is important to make sure that you choose a banking method with fees that you believe are manageable.
- Popularity – it may be important to select banking methods that are popular at sports betting sites across Australia. Remember if you choose to use an obscure banking method, it may not be available at your preferred sports betting site.
- Supported Currencies – ultimately, Australian bettors want to make wagers in Australian Dollars so that they know how much money they are placing on the line with a wager and how much they could possibly win.
- Supported Withdrawal Methods – it is important to note that not all deposit methods offer viable withdrawal methods, such as prepaid cards and credit cards. If you’re looking to use the same banking methods for deposits and withdrawals, make sure that the one you select does offer both options.
Sports Betting Deposit Methods FAQs
Which is the best sports betting deposit option for Australian bettors?
We tend to gravitate towards using banking methods that are processed instantly (such as debit and credit cards, prepaid cards and e-wallets) so that punters don’t have to wait to place bets. We do strongly recommend that punters have a look at each banking options terms and conditions before placing a deposit or withdrawal.
Which online betting withdrawal method is the best?
Generally, we recommend using e-wallets due to the speed of transactions. While bank transfers are a reliable option, it may take several days for a punter’s winnings to make it to them.
Which are the most popular banking methods at Australian bookmakers?
There is a load of great banking methods available at the sportsbooks we recommend. Some of the most popular include:
Do bookies charge fees?
Most betting sites won’t charge punters for making deposits, withdrawals or even bets at their sites. However, this does not mean the financial services provider you decide to use won’t charge you a fee. It doesn’t matter whether you use a card, bank transfer or e-wallet, you’ll probably be charged a fee.
Can punter use the same deposit and withdrawal methods?
This depends on the selected banking method. Most bookmakers offer more deposit options than withdrawal options, and then even only some of those options are able to be used deposit and withdrawals. Before making a deposit, it is important for punters to have a look at whether the banking method they want to use can be used for deposits and withdrawals.