The bookmakers usually offer different payment methods to be able to deposit or withdraw money from user accounts. The variety of payment methods allows the user to choose the option that best suits their circumstances.
Generally speaking, we can summarize payment methods into four main categories: credit and debit cards, e-wallets, prepaid cards, and bank transfers. Within each group, we can find some specificities and differences between each option. Knowing each method allows the user of betting houses to select the one that provides them with greater security and convenience.
Table of contents
Next, we are going to learn about all the payment methods for betting houses that are currently available, and we will end with a final conclusion.
Wire transfer
One of the most popular payment methods in online gaming is bank transfer. In the 21st century, practically everyone uses online banking, and making a transfer is as easy as indicating the account number and the amount to be deposited and making the transfer. In addition, there is the option of directly debiting the transfer to add periodic funds to the account. However, you have to be careful with the commissions that your bank apply - you can negotiate them - and pay close attention to the waiting period of the house to make the transfer, especially for withdrawals.
- Universally accepted method
- Very easy to use
- You can activate periodic funds transfer
- Wait times
- Some banks charge commission
It is one of the most comfortable and popular methods due to its efficiency, although we have to wait a little to withdraw funds.
Credit and debit cards
Practically everyone has a credit or debit card that they use to pay for all kinds of products, and we can also use them to deposit or withdraw funds from our betting account. The most common ones are MasterCard and Visa for credit cards and Maestro and Visa Electron for debit cards, although some bookmakers accept others or have some restricted. Remember that your bank must allow transactions to online gambling sites. The transfer of funds is almost immediate.
- Instant money transfer
- Accepted by all betting companies
- Very easy to use
- Some operators do not accept some cards
We are facing one of the most interesting payment methods, since the money moves almost instantly and 99.9% of users have a credit or debit card.
Skrill
It is an electronic wallet or eWallet that allows Philippines to make payments, send or receive money. To use it, you just have to create an account on their platform and link it to an email address. The user's anonymity is protected, as the recipient of the money does not know the player's banking details. It is widely accepted by both betting houses, which generally offer Skrill as a payment method, and by players who are more cautious about providing their banking information to a betting house.
- You don't have to give your data
- Instant Money Transfer
- Accepted at almost every bookmaker
- Registration and depositing money in Skrill are required beforehand
Skrill remains an intermediary between the bank and the betting house, allowing deposits or withdrawals to be completed without providing our bank details.
Neteller
It is one of the most popular electronic wallets available, so most betting houses and online gaming rooms offer this payment method to their users. One of its advantages is its bridge between the bank and the bookie, so you can make deposits or withdraw funds without your bank details ending up in the hands of the betting house. Simply register with Neteller, make a deposit and then transfer those funds from Neteller to your user account to be able to bet or play in the casino.
- You don't have to give your data
- 100% secure
- Instant money transfer
- First, you need to register with Neteller and deposit money into your account
Neteller easily fulfills its role as a link between your bank account, from which funds are withdrawn, and the gaming account, where they end up. Completely secure, the money is transferred instantly.
PayPal
It is probably the most well-known electronic wallet in the world, which explains why almost all bookmakers allow Philippines to deposit money through PayPal. All we have to do is link our PayPal account with the betting company's account and we will be able to transfer money both ways, for deposits and withdrawals. All of this with PayPal's security and without having to give our banking information to the betting company. It is one of the preferred methods among users.
- Very popular payment method
- No need to provide banking information
- Very easy to use
- It has some limitations in fund management
PayPal is a globally known company that allows Philippines to manage our money in a completely safe way.
paysafecard
Paysafecard is the global leader in prepaid cards, which allow Philippines to send money securely without the need to provide our personal or banking data. To use Paysafecard as payment method, simply buy a prepaid card of $10, $25, $50 or $100 at kiosks, gas stations, supermarkets, etc. and enter the 16-digit PIN at the betting house when making a deposit. Interesting for making deposits, as most bookies accept it, it has the handicap of needing another method to withdraw funds.
- You never provide your bank details
- Prepaid cards of different values
- Accepted in almost all betting houses
- We cannot withdraw funds via PaySafeCard
If you want to protect your banking information, PaySafeCard is the solution, although you won't be able to withdraw your winnings with this method.
entropay
Halfway between Visa and prepaid cards is Entropay, with which we can obtain up to 30 virtual Visa cards. This card can be used in any establishment that accepts Visa, including betting houses to make deposits. The process is quick and simple, you just have to fund that card but as with the rest of prepaid cards, we cannot request any refund of funds. In principle, the money is transferred instantly.
- You choose the value of the prepaid card
- No need to give banking information
- Valid method on all bookies that accept Visa
- We cannot withdraw funds
Entropay is a valid option for depositing funds in all betting houses, but the problem is that we cannot withdraw funds.
Trustly
This payment method, endorsed by the Swedish Financial Authority - which acts as a supervisor - has enormous potential. It allows for online deposits directly from a bank account, in an easy, quick and completely secure way. No software installation or registration is required, and it is accepted by many betting houses and online gaming rooms. In Philippines, customers of CaixaBank, Bankia, Banco Santander, BBVA, Banco Sabadell, Banco Popular and its subsidiary Banco Popular can operate with Trustly.
- 100% secure
- No need to provide banking information
- Supervised by the Financial Authority of Sweden
- Your bank must allow you to operate with Trustly
Despite its enormous potential, it is still quite unknown but it is a 100% safe intermediary that allows you to deposit or withdraw funds without giving your bank details.
Neosurfing
Neosurf is a somewhat special prepaid card, as it is not necessary to deposit the entire balance at once but the player decides how much to transfer. We can use the PIN as many times as necessary, and we can transfer balance between cards. The cards can be purchased in phone booths, kiosks and similar establishments, and allow Philippines to deposit funds into our online gaming account without having to register or provide any information. The limit is 250$, and as with the rest of prepaid cards, you will not be able to withdraw funds.
- Choose the balance you want to transfer
- No need to provide bank details
- We cannot withdraw funds
Neosurf is a prepaid card that can be used as many times as you want to deposit funds anonymously into your account until the balance is depleted.
teleentry
Their motto is "buy online, pay offline" and it is the ideal method for users hesitant to make online payments. When requesting a deposit via Teleingreso from the betting house, they provide a locator code of 9 digits with which we will go to a Abanca ATM or a DisaShop store. There we enter the code, the deposit amount and cash and confirm the transaction. We will get a ticket with all the details. Most bookies offer this for deposits, but not withdrawals.
- Cash payment, without giving data
- No registration required
- Most bookies offer it
- You need an Abanca ATM or DisaShop store nearby
An interesting option for users who are hesitant to make online payments, although you will have to find the nearest Abanca ATM or DisaShop store.
Fast Bank Transfer
In broad terms, it is simply a bank transfer between two accounts in the same country like any other, but with the added bonus that, as the name suggests, the processing times are shorter than normal transfers. When a player chooses this method of payment, the betting house provides them with the account number to make the deposit. However, be sure to check if your bank charges commissions for the use of this method beforehand.
- Faster than usual transfers
- No need to rely on third parties to get the money as soon as possible
- The bank can charge commissions
If you want to transfer funds instantly from your bank account, this is your payment method, but be careful with the fees.
idebit
It is an electronic wallet available for clients of Banco Santander and Banco Popular, which allows them to transfer balance in real time from Idebit to their player account. One of its features is that we don't need to register, but we operate directly from our bank account without the betting house having access to our banking information at any time.
- Instant transfer
- The betting house does not have your banking information
- For Banco Santander and Popular clients only
It is a somewhat limited payment method, both because of the few bookies that offer it and because it is only available for two banks, which does not detract from its appeal.
Sofort Banking
This is a fairly recent payment system based on the online banking services of any bank. It involves carrying out a banking transaction from the bank's website as if it were from our own account, so that the recipient of the transaction - in this case the betting house - does not have access to our bank details. In addition to guaranteeing confidentiality, the money arrives instantly, but the downside is that you cannot request a withdrawal of funds.
- Instant money transfer
- Confidential: do not provide bank details
- Does not allow withdrawal of funds
Fast, secure, and confidential, it is a rather unknown payment method that also does not allow Philippines to withdraw funds.
fundsend
Fundsend is a quite unknown tool, so the number of betting houses and online gambling rooms that offer it is limited. Still, it is a very interesting tool since it allows Philippines to send money from our credit or debit card directly to the betting house. All you need to use it is the bookie's ID in Fundsend, and by indicating the amount of funds to send, the money will be transferred immediately to your betting account, with the amount being charged to the card.
- Transfer money from credit or debit card
- The money arrives instantly to the game account
- The bookie gives you their ID on Fundsend, not your data.
- Accepted in few bookmakers
The major problem with Fundsend is its lack of awareness among players, since the offer is low; but it is an interesting way to deposit from our credit or debit card.
Instant Banking
Designed by Citadel, it is a payment method based on online banking. The user makes an online bank transfer through Instant Banking, which acts as an intermediary between the user and the betting company. One of its advantages is that it is a fast and secure method that does not require additional accounts or registrations. As its name suggests, the transfer is instant, but once again we encounter the handicap of its limited availability and lack of public awareness regarding the betting companies that offer it.
- Money is transferred instantly
- Your bank details are safe
- Very easy to use
- Offered by few bookies
Instant Banking is another tool to speed up bank transfers and have the money in our gaming account as soon as possible.
conclusions
Betting house users have at their disposal a multitude of payment methods, which can lead to doubts when deciding on one of them. Many payment methods are designed to provide greater security to users against less reliable recipients, such as an online sale between individuals. This is not the case with betting houses, which are solvent companies regulated by Spanish legislation through a license.
For this reason, it is recommended to use the most direct payment methods, such as cards or bank transfers, that do not require the registration of an account with a third party as an intermediary. These methods are simpler, just as secure, but they save time and possible problems with that third party that mediates in the operation.
What security is there for the user if the betting company asks for photographs of both the front and back sides of the credit or debit cards used, as well as proof of address and official identification, all with a legible signature? I think this is too much.