E-wallet services can make depositing and withdrawing funds from a sportsbook account much easier.

Use this article to learn more about eWallet services and the benefits they offer you, and what type of eWallets sportsbooks accept.

The Secret To Winning At Sports Betting: Use An E-Wallet, Not A Credit Card

An eWallet is a secure online platform where you can store credit card and bank account numbers to purchase items. This online system allows you to make purchases without having to repeatedly enter in information at checkout.

An eWallet also safeguards your information by acting as an intermediary between you and the merchant.

eWallets (which, for our purposes, will be the term for digital wallets that serve as betting accounts) allow you to operate anonymously, protecting not only your real-world identity but also the fact that you are using an online betting account.

Some eWallets do charge fees for transactions, but these charges are a small price to pay for security and quickness.

Why You Should Always Make Sportsbook Deposits and Cash Withdrawals Using an eWallet

Online sportsbooks that offer eWallet services provide a number of advantages for their players, including:

  • When you deposit money into an eWallet account, you will have immediate access to those funds. The longest amount of time any transfer could take is 24 hours.
  • You don’t have to give any personal information to your sportsbook.
  • Your deposit limits increase when using an eWallet.
  • eWallets make depositing at your sportsbook on your mobile phone quick and easy.
  • Your eWallet can be funded more easily with multiple funding options, including separate bank accounts and different credit cards.
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Play At Sportsbooks That Accept 3 EWallets: Skrill, Neteller, & PayPal

The three eWallets we review for sports betting sites are Skrill, Neteller, and PayPal. Each has its own advantages and drawbacks.

Skrill

As of late 2014, Skrill has officially rebranded, changing its name to Skrill. Skrill doesn’t charge fees to use its services, or for funding your account with a bank transfer.

However, there is a 1.9% charge when you send or receive money through Skrill.

Neteller

Neteller is the second most popular eWallet. Customers can fund their Neteller balance in a variety of ways, such as by transferring money from a domestic bank account for a fee of up to 4.95% per transaction.

Only Neteller, one of a small number of eWallets that handle Bitcoin deposits, gives users the option to pay a 1% tax directly on those transfers.

One of Neteller’s greatest features is its high maximum deposits.

After the Unlawful Internet Gambling Enforcement Act was passed, Neteller relocated its US operations outside of US borders.

PayPal

PayPal is the world’s largest eWallet, offering services in 202 markets around the globe. By enabling its customers to hold funds in 25 currencies and send and receive payments in 24 different currencies, PayPal makes it possible for bettors to continue wagering online even if their home currency is weak or under attack by speculators.

Unlike other eWallets, PayPal allows you to load money onto your account to make purchases or pay directly from your linked bank accounts or credit card.

If you live outside of the country where you have a PayPal account (called a foreign PayPal account), ask yourself if it’s worth it to pay a larger fee for each transaction, depending on which country you’re sending the money to.

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