Banking Methods Explained

May 17, 2017 by Adam

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 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

PayPal 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

Skrill 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

Neteller 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!

Betway Betting Site Review

May 13, 2018March 4, 2017 by Adam

Betway Online Sportsbook Review

Betway Sportsbook is quickly becoming a household name in sports betting. It only launched in 2012 following the success of their casino and poker offerings but has quickly established itself as a major player.

As a relative newcomer on the market, Betway has relied on high profile sponsorships (Notably West Ham United), promotions and word of mouth in order to establish its customer base.

Getting Started & Signing Up

When you log on to the Betway website you’ll find the new customer bonus and big green ‘Bet Now’ button plastered across the front page. It’d be difficult to miss this!

It’s easy to get started with Betway. Signing up only takes a few minutes with a few important details to submit. You are required to invent a username and password and then you can begin adding the crucial information such as card details & payment preferences.

Depositing & Withdrawing at Betway

There are twenty (Yes, I’ve counted them) different ways of depositing with Betway, so you can take your pick. These include Visa debit and credit cards, Paypal, Skrill, Neteller, Paysafe Card & Fast Bank Transfer. The majority of these are instantaneous whereas the latter will take between 1 and 4 days to appear in your account.

There is a minimum deposit of £10 or $10, which is a bit frustrating for those operating on a low budget. For those whose budget is at the other end of the scale, there’s a maximum deposit of £50,000. The average punter is unlikely to find this an issue!

Some online sportsbooks ask for identity upon registering. Betway did not request this, but we have heard reports of this being the case prior to a first withdrawal.

Withdrawals are fairly straightforward with Betway. The minimum is £10 or $10 and this will take between 1 and 7 days to arrive in your bank account.

New Customer Bonus

There is nothing wrong with the Betway Sportsbook bonus, it is perhaps a little unimaginative however. It is 100% deposit bonus up to £30. They will match your initial deposit as long as place a bet in the first 7 days with odds of 1.75 (or 3/4 if you prefer). The stake must be £10 or above and new customers must wager their bonus five times before a withdrawal is possible. Although that sounds like too many restrictions (it’s a lot to take in…), there are many rival sportsbooks who will require double or even treble that amount of wagering.

The welcome bonus for the casino, poker room and bingo are very generous and Betway will use these to encourage new customers to explore all of their offerings.

Other Bonuses and Promotions from Betway

Betway aren’t big on promotions but have recently launched the Betway Free Bet Club which will dish out a free £10 bet each week when you opt in and wager £25 or more on football multiples within 7 days. This is similar to incentives offered by rival sportsbooks, but not everybody will be keen to spend £25 within the space of a week.

There are also selected enhancements ahead of big events such as the Cheltenham Festival and the World Cup. There is a dedicated page for their offers, but I can’t help feel they could add more.

There is an option listed down the left hand side of the screen which is ‘Betway Boosts’, these are usually available on major sporting events. Champions League is one such example, but there is often only one boost per match.

Ease of Use

The Betway website is actually very easy on the eye with a pleasing black and green colour scheme. It looks very professional and it hassle-free.

They have clearly worked hard to ensure the customer feels a home on their website and it’s simple to navigate. I particularly enjoyed the horse racing markets and found it easy to move between all of the races on each card.

The markets and menus were quick to load and it was a pleasure to browse. The markets, sports and In-Play offerings were clearly labelled and placing a bet is quick and easy. The site doesn’t feel overly cluttered which is important and there are no pop-ups promoting company offers at the time of writing, which is always a tick in the box.

Adding and removing selections from a betslip is simple as each selection is clearly listed down the right hand side. Ideal for the indecisive bettor who wishes to chop and change their multiples!

The word ‘Slick’ definitely applies to the Betway website. It’s a huge thumbs up to their designers.

Betways Markets & Odds

As you would expect from any credible online sportsbook they offer plenty of different sports. Whether it’s Football, Snooker, Greyhounds or Winter Sports, Betway have it all. They are all listed down the left hand side and are very easy to locate.

When clicking on each sport, a drop down menu appears to help you narrow the search. For example – click ‘Cricket’ and you will be offered the opportunity to select ‘International’, ‘England’, ‘Australia’ etc. This is very helpful and saves time navigating through endless events.

There are plenty of future events priced up across different sports and there are a number of different markets available. The NHL & NBA offering is a little on the small side however.

Football

Within the football menu ‘Banker Acca’ is listed down the right hand side for those who are feeling a touch unimaginative and I am a fan of the ‘Useful Stats’ page provided which is available on a range of different sports. These include standings, leader-boards and current form.

For major football matches, expect between 100 and 120 different markets on the website.

Horse Racing

I found the horse racing section of the website very pleasing. Clicking on the ‘Horse Racing’ tab will take you to ante-post markets, so make sure you click Horse Racing Daily Cards instead.

This will bring up all UK & Irish Horse Racing events for that particular day with Timeform stats and analysis prominent on each page. Newspaper NAPs are also available on the website. These are two enjoyable added extras.

On top of the standard horse racing markets, there are specials which include choosing horses to finish 2^nd and the occasional match bet.

The racing results on Betway update quickly and are a handy tool. Overall the horse racing section of the website is very impressive and makes wagering on the sport a pleasure.

Other Features

Live Streaming

Betway has recently added Live Streaming to their website and this is a welcome addition. At the time of writing, this is only available in the UK & Ireland. Events include Russian Premier League, major snooker championships & some tennis matches. Unfortunately, their offering is limited compared to rival online sportsbooks, but the good news is that they are looking to increase their portfolio in the future.

Mobile Betting App

The Betway mobile app is available for both iPhone and Android and is quick and easy to download. Installing is simple and new customers betting through the App will not be penalised and receive the same bonus as their desktop counterparts.

The App is very user-friendly and makes it straightforward to find different sports and markets with the In-Play markets particularly quick to update.

Bettors can place singles or multiples on the App and SOME live-streaming is available through mobile.

In-Play

The In-Play console is extremely enjoyable and provides sporting events from all over the world. Whether you are desperately searching for Under 19s football or ITF tennis tournaments from South America, it will be priced up and the majority of events will offer constantly updating prices throughout.

There is also a cash-out feature on SOME markets In-Play which is a welcome addition and allows a change of heart or mind mid-event.

Customer Support at Betway

There is a wealth of options when it comes to customer care. Betway has made sure it’s users have plenty of ways to contact them.

There are three phone numbers available – separate numbers are available for UK, Canada & Rest of the World. These are manned 24/7.

Live Chat is a popular way of contacting sportsbooks and Betway have added this to their offerings. This is always preferable and our queries were answered within a matter of seconds.

Alternatively, sending an email is possible. Emails to support@betway.com are often answered within an hour.

‘Contact Us’ and ‘Live Chat’ can be found at the bottom of the Betway page.

Betway may be the new kid on the block, but their offering is very impressive. They may lack in promotions and offers compared to their rival sportsbooks, but their interface is simple to navigate and browsing different markets is a pleasure. Their mobile offering is equally as slick. Withdrawals can on occasion take a while to reach bank accounts and there is a minimum deposit of £10, but there are very few negatives to pick out. Overall, Betway is recommended to new customers who are looking to open an account, particularly those wagering on horse racing.

Visit Betway and get your £30 Bonus Today!