When choosing an online bookmaker, the first things that come to the mind of an experienced punter are withdrawal methods and speed. However, if you have previously played in an online bookmaker, you must have noticed that they offer a very long list of payment options.
Therefore, carefully choosing a payment option that suits you is very important. Today we will discuss the popular payment methods found in an online bookmaker and determine which one is the best to choose and why.
Top Ten Popular Payment Methods Available At Online Bookmakers
Cryptocurrency payment options have become quite famous nowadays. Due to their fast withdrawal speed and significantly less processing time, punters now choose cryptocurrency over other withdrawal options.
When you withdraw from an online bookmaker, they take only an hour or so to process a cryptocurrency payment, while other payment options may take five to eight hours to get processed.
There may be fees involved in cryptocurrency withdrawal, depending on the wallet you use to store your crypto coins. Nevertheless, Cryptocurrency withdrawal is the fastest in the world.
If you plan on betting again, you can easily deposit your fund using crypto deposit methods and enjoy special crypto bonuses.
PayPal is a very versatile and readily available payment method on an online betting site. Since PayPal offers services in over 60 countries, bookmakers add this as a withdrawal option.
PayPal is an eWallet therefore, the withdrawal deposit time is virtually instant. In addition, once payment is processed, it gets credited instantly. However, to get your money from PayPal to your bank, you need to pay a fee and wait 24 hours before the withdrawal.
#3 Bank Transfer
Regarding withdrawal speed, bank transfers take a lot of time to process the payment. However, if you choose the bank transfer method, there is no fee involved. Moreover, the bank transfer method is the only payment option available in all online bookmakers and casinos.
#4 Debit and Credit Cards
Debit and credit cards are also one of the most popular payment methods in online bookmakers. It is effortless and fast to deposit using a debit or credit card as you only need to remember your card number and pin. However, using credit cards is getting banned for online gaming these days.
Skrill is also an eWallet commonly seen in small and medium-sized online bookmakers. So if you like fast withdrawal and don’t mind paying a little fee to withdraw your winnings, Skrill is an excellent option.
The processing time for Skrill withdrawal is between four to six hours. Once you get money in your Skrill account, you can choose to withdraw it to your bank account, which will cost you some money as fees. Otherwise, you can reuse that money to bet on your favourite sports for no charge.
Astropay offers the world’s first virtual prepaid card. You can recharge your card on their app and use it to make payments worldwide. You can also receive payment on your card and withdraw. It works like an eWallet, so it’s at breakneck speed.
After cryptocurrency, UPI is the fastest payment method in the world, with a mere fraction of a second processing speed. However, UPI has ranked so low on our list because this payment method is only accepted in a few countries like India, Bhutan, Nepal, Malaysia, Singapore, UAE, and France.
Nevertheless, it is rapidly reaching new countries. Moreover, transferring money through UPI is entirely free and easily accessible. You need a bank account linked to your UPI ID, and the funds will be credited directly to your bank account for free.
Bookmakers With Fastest Withdrawal
The withdrawal speed is not entirely dependent on the selected payment method. It is also reliant on the bookmaker. This is because when you enter the amount and hit the withdrawal button, the bookmaker’s staff from the finance department will check and approve the payment.
They check for dues, withdrawal vs deposit ratio, illegitimate actions on your account, and more. These things take a lot of time. The time taken for processing the payment varies from one bookmaker to another.
According to surveys and reviews by many players, Bet365 withdrawal time is the least in the market. That is because their processing time is significantly less. Once the processing is done, the amount will be credited to you via the chosen method.
To conclude, we can say that cryptocurrency is the clear winner in this category, where we ranked payment options according to their withdrawal time and availability.