Sports bettors in many regions use an eWallet service to fund their sportsbook accounts. Many consider it the most secure and painless way to make deposits and withdrawals.

Read on for an overview of the benefits of using an eWallet service to make deposits, and a look at the types of eWallets that sportsbooks accept.

Why You Should Be Using An Ewallet And How To Do It Effectively

An eWallet is an online application that stores payment details, allowing you to make purchases without having to enter account information multiple times. This is particularly useful when you’re live betting or line shopping and want to be able to immediately place bets without missing out on an enticing line.

Your eWallet will securely hold your information and data, encrypting it and revealing none of your sensitive information to the merchant.

Unlike at a traditional betting establishment, with eWallets, you do not need to reveal or verify your identity or bank account information to the final recipient of your funds. The eWallet company ensures its users against fraud, and if you do not receive the goods or services that you paid for, you can file a claim with the eWallet and it will refund your money.

However, some companies charge a small fee (in the form of a flat fee or a fraction of the transaction) for deposits and withdrawals, but this is only a small fee for safe, fast transactions. For more information on deposit and withdrawal methods you should check out this article

The 6 Best Reasons to Use an eWallet at Your Sportsbook

eWallets are a good option for depositing and withdrawing funds at certain sportsbooks. Here’s how they work:

  • When you use an eWallet to deposit at your sportsbook, your funds will be available almost immediately. If a transfer takes longer than 24 hours, it is likely due to a problem on the sportsbook end.
  • Customers need not reveal any personal information about themselves to place bets with a sportsbook.
  • Deposit limits using e-wallets are significantly higher than those using traditional credit cards.
  • The process of depositing funds at your sportsbook on your mobile phone with an eWallet is quick, easy, and efficient.
  • Most eWallets have their own apps so you can deposit at the sportsbook right from your smartphone or tablet.
  • Your eWallet balance can be funded from separate bank accounts or from different credit cards. This affords greater flexibility in managing your bankroll.
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The Best eWallets For Sportsbooks: Our Top Picks

Paypal vs Neteller vs Skrill

Skrill

Moneybookers, which was renamed Skrill in 2012, is a payment service that competes with PayPal and other eWallet providers.

It charges 1.9% to send or receive money from one Skrill account to another, but there is no fee for transferring money into your account via bank transfer or credit card.

Withdrawing cash using Skrill at ATMs in Europe and the UK is a unique feature among eWallet services, allowing users to deposit up to $50,000 into their Skrill accounts.

Neteller

The Neteller eWallet is usually the second most popular option for bettors, and you can fund your Neteller balances it differently. Fees added to your Neteller balance vary by method. For example, when you transfer money from a Visa credit card to Neteller, the processing fee is 1.9% to 4.95% per transaction.

Neteller charges a 1% Bitcoin tax for its users who want to transfer Bitcoin into their Neteller accounts, but the company is one of the few major eWallet platforms that allow you to add to your balance with Bitcoin.

Sharps rely on Neteller as a deposit method because it allows for larger maximum deposits than most other options.

Neteller was forced to leave the US when the Unlawful Internet Gambling Enforcement Act was passed.

PayPal

It’s operating in 202 markets around the world, PayPal supports 25 currencies and is the most popular e-wallet for buying things on the web.

Unlike other eWallets, PayPal does not require you to deposit funds into your account first in order to make a purchase. You are able to directly pay from whichever accounts you are linked to.

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However, that there are fees for sending and receiving funds from the country where you live and funds obtained through the sale of goods or services. Paypal is very picky about the sportsbooks they do business with. Luckily, we’ve compiled a list of recommended PayPal betting sites to get you started.

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