Banking Options for Betting Online

After finding a quality betting site, one of the next important steps is to figure out how to actually deposit to your betting site account.  The process of depositing and betting online can be a little tricky with some of the deposit options out there. 

We enjoy betting online and have done a ton of research on all the different deposit methods out there.  Yes, we’ve been to many forums shifting through comments, tried many banking options, and heard from out visitors in order to bring an informative guide to banking options to bet online. 

Choosing the right banking option could be the difference between having a great betting experience and a super frustrating one.  We’ll get into why using a credit or debit card to deposit funds might not be the best option when betting online, as well as why some, less than mainstream, options could be the future of online betting deposits and withdrawals. 

Some items to consider choosing a banking method with online betting site:

  • Security of your personal information
  • Accessibility on desktop, mobile, and offline
  • Fees to deposit and/or withdraw
  • Acceptability across all your betting sites
  • Ease of use
  • Trust in banking method

Should I always use a credit card?

What is the most common way people pay for things online?  Credit or debit card. 

While this might be the acceptable option to pay online for most items, we feel it’s not the best option for betting online. 

First, in some areas online betting is discouraged; this means banks may try and block certain transactions running through credit and debit cards when trying to deposit or withdrawing from online betting sites. Not to worry though, there are many alternative banking options.

Second, in most transactions online it is best practice to keep a third-party between your card information and the website you are depositing too.  This creates an additional step in the process (which is easy, fast, and worth the minimal extra effort). 

Online Betting Banking Options

There are several banking options out there for betting online, we’ve researched and experienced them all to provide you with a guide to banking options for online betting.  All options below will allow you to both deposit and withdraw to bet online and most are accepted by all of our recommended betting sites.

E-Wallet Deposit and Withdraw:

  • Neteller Deposit and Withdraw
    • Founded in 1999, Neteller is one of the world’s largest e-wallets around with over 23 million customers. They process billions of dollars of transactions a year and offer simple, fast, and secure way to bet cricket online.
    • Neteller is one of the most universally accepted deposit and withdrawal methods in online betting. It is a great benefit to have one e-wallet that can be used in all your favorite betting sites.
    • Neteller accepts 28 currencies including Indian Rupee, US Dollar, and Euro.
  • Skrill Deposit and Withdraw
    • Skrill is a great alternative to Neteller, in fact, they are actually owned by the same company, just operating as two different brands. (Formerly Moneybookers)
  • Paypal Deposit and Withdraw
    • Most people have heard of Paypal deposit option, but as it relates to us in the online cricket betting community it’s not really a useable banking method. Most of the online betting sites do not accept Paypal banking method.
  • Entropay Deposit
    • While not as large as some of the other e-wallet deposit options, Entropay is gaining popularity in the online betting community.
    • Basically, a prepaid Visa card that works online, providing security and the ability to deposit on gambling sites.
  • Paysafe Card
    • Depositing without a bank account can be done by using a Paysafe Card, which is essentially a prepaid card. 

Credit and Debit Card

  • While the most popular method in the world for gambling sites, credit and debit cards can be an unreliable option to bet online. It can be frustrating when your first few transactions go through and then your bank starts to block withdrawals from betting sites.
  • Using Credit and Debit cards to bet online is easy and fast when they actually work. However, if you encounter any issues with Credit Cards, or you prefer an extra layer of private, we recommend using e-wallets as a preferred way to fund your favorite cricket betting site.

Bitcoin 

  • Using bitcoin to bet online is becoming very popular in the cricket betting community. We recommend several betting sites that accept bitcoin.
  • Cryptocurrencies in general are highly volatile themselves, so that can be an added item to consider when using bitcoin to bet online.

Bank Wire

  • Bank Transfers are widely accepted deposit and withdrawal options and that’s why it’s a good back up method for us cricket punters. Bank wires are not an ideal banking option because of the fees and delayed timing.
Deposit Options Cricket

Banking Options for India Players

For a long time Bet365 cricket was the only betting site accepting Indian Rupees.  Fortunately, there are more trusted online betting sites that accept INR.

All of our recommended cricket betting sites accept Indian Rupees for both deposits and withdrawals.

Banking methods for Indian Players:

  • Neteller
  • Skrill
  • Bitcoin
  • Credit and Debit cards
  • Entropay
  • Paysafe Card
  • Bank Wire

Betting sites for India Players:

  • Bet365
  • 10Cric
  • Betway
  • Royal Panda
  • Bodgo

When depositing Indian Rupees, we recommend using e-wallets as they are more secure, just as fast, and more dependable than credit or debit cards.

Issues with Banking Options and betting online

Some banking methods have more issues than others when betting online.  We can start with the most common payment type with issues, credit and debit cards. 

Credit and Debit card issues with betting online beginnings with the simple nature of online betting sites, some local laws and regulations do not allow gambling online.  For this reason, many banking institutions will sometimes block transactions to and from betting sites.

Other reasons for credit or debit card issues when betting online could be deposit limits, many sites have both a minimum and maximum amount players can deposit at one time.

Another less common issue with betting site deposit options are the slow deposit processing times.  Not many things are more frustrating than going through the process of depositing funds into your player account and then realizing there is a lag in processing which leaves you unable to see or use the deposit to bet online. 

To avoid slow deposit processing time, we recommend depositing with e-wallets such as Neteller or Skrill.

What Others are saying

“Back 10 years ago it was very hard to deposit to betting sites and I’d have to fight with the sites customer support team to get probably half my withdrawals approved; now it’s much less of a hassle when you go with a quality betting site.”
– Reddit User Comment 2019

“I use e-wallets to deposit and bet online, but will probably move to bitcoin to give that a shot.” – Reddit User Comment 2019

Final Thoughts

We bet online for the fun of the matches and to win some money, the last thing we want to deal with is unreliable, slow, or frustrating banking options. 

We gathered all the banking options you need to know about when betting online into one simple place. We researched and experience the payment methods to give you our honest feedback on each one of them.

We think cricket players should be more focused on placing bets online and the excitement of the match, rather than worrying about researching all the different banking methods.

Neteller is our recommended banking option as they have a great industry reputation with over 32 million customers, low fees, simple user interface, and military grade security.

Banking Options FAQ

What are e-wallets?

Do all online betting sites accept all banking options?

What is best banking method?

What is the fastest way to deposit money to online betting site?

What is the safest online betting site payment methods?

What are the betting site deposit and withdrawal fees?