Banking Methods Explained

The Pros and Cons of different banking methods

Signing up to an online sportsbook for the first time can be a daunting experience. Where to start? How much should I allow myself to spend? Have I chosen the right bookmaker?

So many questions!

We all like to look after our money and making sure we only spend within our means is vitally important. Choosing the right deposit method is imperative for an enjoyable and potentially profitable betting experience.

Most reputable online sportsbooks will offer a huge range of deposit methods when signing up and it’s possible to mix things up if required. Some people operate through their PayPal account whilst others are comfortable enough to use a credit card for all of their gambling transactions. There’s also Skrill, Neteller & even personal cheques!

Online security is pretty tight these days and any kind of breach would be a PR disaster for a bookmaker. They rely on customer loyalty and they wouldn’t want to lose their clientele through sloppy security errors. There is still a stigma, particularly amongst those of an older generation that inputting card details is a game of chance but depositing with an online sportsbooks is safer than ever before.

Credit/Debit Cards

credit cards are an easy depositing methodCredit and Debit cards remain the most popular way of depositing. It’s quick and easy and the money appears in your account immediately. There is also no additional charge for using this service in the majority of countries (always worth checking!)

Pros

Once your details have been entered for the first time, they will be saved and future deposits will take a matter of seconds. It is a stress-free way of adding funds and there is rarely any need to move money around beforehand.

It makes it easy to follow all of your transactions through this method with them usually appearing on a monthly & annual statement.

Withdrawals can often completed slightly quicker than using alternative methods.

Credit and Debit cards are able to process larger payouts. If you land the dream 10-fold accumulator or the 200-1 outside comes in, it’s straightforward to withdraw large amounts of money to your personal account.

Cons

Some Credit Cards may come with a small operator charge, always best to check with your provider.

Gambling addictions can sometimes spiral out of control particularly if multiple credit cards are used or large overdrafts are available.

Withdrawals often take 1-3 days to complete (longer if it falls on a bank holiday weekend!) and there is a danger of bills being paid which leave the account short of funds until the transaction is complete.

If you’re trying to hide gambling activity from a partner or family member, this is not the method to choose!

Credit and Debit cards can be limited or stopped altogether if the sportsbook suspects fraud may have taken place.

PayPal

PP is a popular banking option for gamblersPayPal operates an online wallet storing cash which can be used to purchase goods or services online. It’s quick and easy to set up an account and can be utilised for a number of things including funding an account with an online sportsbook.

Pros

It is a quick an easy method and money is added to betting accounts immediately.

Handy for keeping a set amount of money separate from cash required to pay bills and everyday costs.

Safe and secure. Money can be quickly transferred back to a credit or debit card if required.

PayPal allows different currencies to be converted.

Cons

There is a small charge for using this service. Depositing £10 from a PayPal account for example would leave you with £9.80 to play with.

If you don’t sign up and deposit with PayPal when registering for the first time with an online sportsbook account, some bookmakers can make it difficult to add these details at a later date.

Not available in every country.

Some transactions can take slightly longer (but not by much!)

Skrill

deposit using skrill 1tapSkrill operates in a similar way to PayPal and can store money in an online account. It is often used by businesses. Moving money between this account and an online sportsbook is simply and easy to do.

One recent development is the addition of Skrill -1Tap which allows accounts to be funded with one touch. This can be applied on a mobile, laptop or tablet.

Pros

Much the same as PayPal, it keeps a set amount of money separate from other accounts.

Safe and secure and operates in a number of different languages offering a range of currencies too.

Reasonably quick transactions

No documentation is required before funding a betting account using this method.

Cons

Not all online sportsbooks have added Skrill to their roster. Always best to check before signing up.

There may also be a small charge applied to these transactions (different online sportsbooks operate varying rules)

Neteller

netteller banking optionsNeteller is another online e-wallet which provides a separate account for online users. It is particularly popular in the USA and Canada. It is virtually the same as having a Skill account.

Pros

Once again moving money between your accounts is easy.

It keeps the money separate from other funds.

Once you’ve added your account details to the system, it should be straightforward to make deposits in the future. (You don’t have to remember the 12 digit code each time!)

Cons

Not all online sportsbooks offer Neteller as a deposit method. Always check first.

There are additional charges for using Neteller. Funding a betting account is free but moving cash between your account and credit/debit card will incur a small charge.

Some online sportsbooks set a higher minimum deposit when using this system. They also restrict the amount of money which can be withdrawn.

Cheques

This may seem like a very old fashioned way of operating…and let’s face it, it is!

But, some online sportsbooks in a number of countries still accept payments using cheque.

Pros

There is no charge for depositing using this method

A number of different cheques are accepted (Not travellers!)

Cons

There is usually a large minimum deposit limit when using this amount. Each individual online sportsbook has different requirements.

Cheques can take between 5 and 28 days to clear.

Additional charges could be incurred for recorded delivery or ensuring the cheque is posted safely and securely.

Some online sportsbooks have removed this method from their list of possibilities.

Online Bank Transfers

This is an increasingly popular way of depositing and bypasses the inputting of credit or debit card details. Most bookmakers do accept this method but always best to check beforehand.

Logging onto your online banking provider is required to complete this transaction. You will need to use your membership reference number which should be easy enough to find.

Pros

Once you’ve set up the recipient, you won’t need to input the details of the betting company unless you change bank or open a new account.

It’s quick and simple. Money will appear in your betting account later that day.

Skips the inputting of credit card details. Some punters prefer the betting company not to hold their vital digits on their system!

It’s 100% free to use this method with the majority of banks.

Cons

This method requires careful inputting of details. Correct sort code & account numbers must be added plus the correct membership reference number so they know which account to attribute the funds to.

Not all online sportsbooks & betting sites accept this method.

Any online security issues would be your responsibility as opposed to the bookmakers.

Online betting accounts can sometimes take a couple of hours to be funded via this transaction.

There are a number of other methods which are accepted by various online sportsbooks. Paysafe Card is very similar to PayPal and Neteller with no charge for each transaction. A minimum deposit is sometimes required for this method although various currencies are available.

Entropay is similar to having a virtual Visa debit card and is some people’s preferred method of depositing.

Most bookmakers are expanding their offering and selection of deposit methods. It allows bettors to make the choice whilst keeping their personal preferences in mind. The more methods available, the likelier they are to attract new customers from all around the world.

Every method has pros and cons and it’s always best to read up on the advantages and disadvantages before jumping in!

Online sportsbooks will always push people towards using credit and debit cards as it is quick and easy and deposits can be made instantly. Personal choice & situation is important to consider before signing up and mixed your methods is perfectly acceptable. Don’t be caught out by additional hidden charges however!

Coral Betting Site Review

coral sports betting site has free 20 bets

Corals Online Sportsbook Review

Coral is one the oldest and most established names in sports betting although is relatively small outside of the UK & Ireland. Its online offering is extremely popular and gains thousands of new customers each year.

The Sportsbook prides itself on providing an enjoyable user experience with a number of bonuses and rewards for those who wager on a regular basis.

Coral tends to put the emphasis on football betting and may be a touch guilty of neglecting other sports, but we found plenty to our liking when we took a closer look.

free bets at coral

Getting Started & Signing Up

Like most online sportsbooks Coral don’t make it difficult to sign up to their service. The new customer offers (more on them shortly…) are plastered all over the landing page with the green ‘Join Now’ button in the top right hand corner.

Coral will require some mandatory details and new customers must create a username and password before completing registration. You can also select preferred currency and submit a secret question. Once you’ve submitted all of these, add a payment preference, verify the email and you’re signed up!

Depositing and Withdrawing

There a wealth of deposit options available with Coral. The most popular and highly recommended option is Visa Debit or Credit Card. There is no charge for this and the minimum deposit is just £5/$5.

Mastercard, Skrill, Paypal, Paysafe Card and Neteller are other accepted methods and commonly used.

There appears to be no charge for using any of these at the time of writing.

Unlike most online sportsbooks, Coral allows customers to withdraw as little as £1/$1 from accounts, but this does seem fairly pointless.

Most withdrawals take between 3 & 5 days, which is the average, but can depend on the chosen methods and bank settings.

Money can be moved around between sportsbook wallet and casino wallet.

There is also a responsible gambling page on the Coral website and users can choose to implement their own restrictions.

New Customer Bonus

The Coral Sportsbook bonus offers ALL new customers £20 in FREE bets when they sign up, deposit and bet at least £5. This must be on a selection with odds of 1.50 (1/2) or over.

If you deposit and bet £5, you will receive a £5 free bet. If you deposit and bet £10, you will £10 in free bets. You get the idea…

This is capped at £20 and free bets will arrive in the form of 4 x £5 bets. These are credited to the account straight away.

The first bet must be placed within 14 days of signing up. This is relatively generous considering that rival online sportsbooks offer just a week to take advantage of the bonus. This could be handy if you’re waiting for payday to come around!

coral sports betting site has free 20 bets

If you sign up on the week of a significant football match or sporting occasion, Coral will occasionally offer new customers an alternative sign-up offer. For example – Get 7/1 for Manchester City to beat Stoke when you open a new account. Maximum bet £5.

There is an element of risk involving this bonus as Manchester City MUST win their match, but bonuses will be paid out straight after the final whistle.

Customers will have the option to choose between these bonuses but generally cannot opt in to both.

Other Bonuses and Promotions

There is a dedicated offers page on the Coral website, but most of their current promotions are dotted around the home page already.

These usually come in the form of enhancements for upcoming football matches. Often centred on the Premier League or English teams playing in Europe.

They also have a 5+ Acca Insurance offer which applies to football accumulators and is particularly popular at the weekend.

There aren’t a huge amount of offers focusing on alternative sports although I spotted one or two enhancements on the snooker and Six Nations rugby.

They have various offers geared towards the next big horse racing event including the Cheltenham Festival, Aintree Festival or the St Leger. There are best price guaranteed offers on greyhound races too.

Usability

The Coral website has improved remarkably over the past couple of years although at times still looks a little too cluttered.

There is a lot of detail on the home page which can be a little overwhelming at first.

However, finding the sport and market of your choosing is straightforward and menus load up quickly. The football markets are simple to navigate between and placing a bet in easy. Shortcut pages help save time searching for your favourite sports and this can be tailored to suit individual needs.

The In-Play page is particularly easy to navigate and the option of ‘Live in Play Now’ or ‘Live in Play Later’ is a welcome addition and a handy way of planning bets throughout the day.

The interface is decent and the colour scheme is relatively easy-on-the-eye. The busy-ness can be difficult to come to terms with at first, but once your eyes have adapted, it’s soon forgotten about!

Markets and Odds

Coral definitely prioritises football and the majority of their headline offers will relate to this. Horse Racing is another of their key priorities and they offer a decent selection of enhancements and specials on a number of big events within the sport.

It isn’t just sports. Politics, lotto and TV specials are all offered on the Coral website although these aren’t as extensive as some of their rival sportsbooks.

There are plenty of sports offered and can be found in the A-Z of sports list on the left hand side of the website. Aussie Rules, Motorsports, Golf and Hurling are all options available.

Some of these markets have the tendency to be limited and if you’re a fan of betting on Ice Hockey, Basketball or Lacrosse, you may be better looking elsewhere.

The odds provided by the sportsbook are always competitive and offer decent value to punters. They can’t be described as ‘outstanding’, but you won’t be losing any value betting with Coral.

The horse racing markets are plentiful with every UK and Irish race priced up and plenty of ante-post markets and offers on forthcoming festivals.

If you are predominantly a football punter, Coral should be one of your first destinations as there are hundreds of markets on every game from the top leagues throughout Europe. Several enhancements will be available on games in the Champions League, Premier League and major International tournaments.

It’s clear that Coral sportsbook largely target football punters and they cater perfectly for their needs.

Other Features

Coral Radio

Coral Radio allows customers to listen to live audio commentary of all UK and Irish horse racing meetings for FREE. There are also sports commentaries offered. It’s available through the website.

Streaming

Coral have recently improved their Live Streaming service to compete with rival sportsbooks. It is available through PC, Tablet and Mobile. It boasts over 2,000 live events each week which includes football from the Eredivisie, La Liga and the increasingly popular MLS. There are tennis tournaments from both the ATP & WTA tours as well as Snooker, Darts and Volleyball.

The streams are high quality and are available to any customer with a positive balance in their account.

Horse Racing and Greyhounds are also available in streaming for any customer who places a bet to the value of £1 or greater on the race.

In-Play Betting

The In-Play console is very impressive and extremely simple to navigate. There are hundreds of events available at any one time with markets being updated quickly and efficiently. Cash-Out is also available on the majority of pre-match or In-Play bets which is handy if things are going your way!

Mobile and App

There isn’t too much to say about the Mobile and App offerings. They are easy to download, straightforward and we didn’t come across any problems or glitches when using it. Placing a bet is quick and the menus are simple to navigate which is ideal for those betting on the move.

The Bet Slip is easy to customise and users can add their own quick links to the app in order to speed up the betting process.

Customer Support

If customers are suffering issues with the Coral sportsbook, there are plenty of options available to them. First of all, a huge list of FAQ are available and easily accessible on the website. Make sure you have your reading glasses at the ready as it’s extensive!

Phone-lines are available and manned for the majority of the day. Coral often schedule a call-back to save customers wasting time on hold. This is a nice touch.

There is also a live chat and email service which are both fairly efficient.

Coral’s online sportsbook is an established name in a crowded market and is one of the best options for football and horse racing bettors. They have a decent offering of markets and odds but are perhaps lacking in more obscure sports, however they are constantly improving the service. The offers are plentiful and promotions regular and they certainly look after their customer base. If you can look beyond the slightly busy design of the website, using Coral Sportsbook is an enjoyable experience.

Vist Coral Today and get £20 in FREE bets!