Betting Payment Methods

Updated: September 16, 2024 at 11:06 am GMT+1
By Craig Jones

Online betting and continued advances in technology have ensured that there has never been a wider choice of payment methods available to UK bettors.

When it comes to deciding whether or not to open a new account at a betting site, the available payment methods can be a significant factor.

PayPal
Apple Pay
Skrill

The majority of online bookmakers have a decent mix of payment methods to choose from, so whether you’re looking for the convenience of using your Debit card, or the swift withdrawal times of an e-wallet such as PayPal, there’s plenty of options out there. Although still not widely available in the UK, some betting sites also offer cryptocurrency such as Bitcoin and Ethereum as a payment method.

It’s also worth noting that Government legislation banned the use of credit cards at gambling sites in the UK in April 2020.

UK bettors have a wide range of payment methods at their disposal. Let’s start with a short list of some of the most popular:

How to Decide on a Payment Method

Choosing the best payment method to use will depend on a number of factors specific to the individual bettor.

Factors to consider include:

  • Transactions times - we all want to be able to make instant deposits and have rapid access to our funds when withdrawing.
  • Qualifying for promotions – not all payment methods allow you to claim bonuses at many UK betting sites. This can be a particular issue with e-wallets.
  • Fees – it’s important to note that some payment methods can come with transaction fees.
  • Convenience - bettors don’t want anything too complicated when it comes to funding their accounts, with the definite preference for a payment method that is quick and easy to use. Many of us will want to use a payment method that we already use on a regular basis, rather than having to set up something new.
  • Security – any reputable betting site will be protected by the latest security technology against fraud but, although all the payment methods we detail here are perfectly safe to use, some offer greater security and anonymity than others.

Which is the Best Betting Deposit Method?

The best betting deposit method will come down to individual preference and requirements. Here at free bets, we find that factors such as convenience, being able to claim any bonuses and rapid transaction times will usually be key in most bettors’ decisions.

How to add a payment method on a bookmaker site

Adding a payment method on a bookmaker site is a simple and straightforward process, with most sites having some form of payment methods tab when you sign-up for a new account.

You just select your chosen method from the list, enter the amount you want to deposit, and complete the necessary details into the required fields.

FAQs

What is a betting payment method?
A betting payment method is simply the process that allows you to deposit and withdraw funds to and from your bookmaker and/or casino accounts.
Which betting sites have the most payment methods?
Most of the leading UK betting sites offer a decent variety of payment methods. William Hill and bet365 probably lead the way in having the widest selection.
Which payment method is the most secure?
Debit cards are one of the safest methods of payment since they are easy to cancel if it's lost or stolen and many also offer some level of fraud protection. Bitcoin technology is also a relatively safe payment method.
Are online betting payment methods safe?
Provided you stick to the fully licensed and regulated betting sites like the ones listed on these pages all your deposits and withdrawals will be fully secure and employ the latest security encrypted technologies for your personal data.
Will my deposit method affect my welcome bonus?
It certainly can do. Certain methods, such as e-wallets, are usually disqualified from welcome bonus promos. Always read the terms & conditions attached to any offer.
Which is the fastest payment method?
PayPal provides quick deposit and withdrawal methods and is seen to be one of the fastest available to UK players, but others are not far behind and catching up quickly.
Do I have to use the same deposit and withdraw method?
Most betting sites will require you to withdraw at least the same amount that you have deposited with a payment method before allowing you to switch to another option, but your betting site’s customer support should be able to help if you need to change sooner.