Online wallets

Tags: wallet, deposit, withdraw, transfer

Online wallets offer an easy way to deposit and withdraw to online bookmakers without revealing your credit card or bank details and they can simplify the money transfer between different operators.

Their main advantage is that withdrawals are sometimes faster. This way you can simply withdraw money from one bookmaker and make a deposit to another one if you find their offer better for some events you want to bet on.

Another advantage is that you can send and receive money from friends and family.

There are many different online wallets but not all of them can be used for online gambling. PayPal is one of the most popular online wallets but they have some restrictions depending on the country you live in. For this reason if you already have a PayPal account you should check with the bookmaker if it can be used by you.

Two other online wallets are frequently used by gamblers: Moneybookers and Neteller.

Moneybookers

Moneybookers is an UK based online wallet regulated by the FSA. It can be used for gambling purposes and also at some online shops.

When you open an account your e-mail address will be used to identify you just like PayPal.

There are 2 options to deposit money into your wallet: bank transfer (2-5 days) and credit/debit cards. Before you can use your credit card you must go trough a verification process. A small fee will be charged from your card and you'll have to enter this exact amount to verify your card. You can easily and instantly check this if you have online banking enabled or you can go to the bank and ask for a statement. This has to be done once for each card you want to use.

Moneybookers also offers prepaid MasterCards you can use to pay online and offline directly from your account balance.

A lot of help is available on the Moneybookers website.

Neteller

Neteller is a similar UK based online wallet. It has a bit more complicated login system and a different verification procedure. You have to send them copies of your identification and address verification documents. You can find out more on their website.

Neteller also offer prepaid MasterCards which can be used to access the money in your account.