Are you a first-time bettor thinking about placing your very first bet? Or are you a seasoned bettor but thinking about trying some other payment method? No matter what is your case, you will find all the answers in today’s article about the best payment methods when it comes to online sports betting.
Bank Transfer
The old-fashioned way to manage your payments for online betting on sports matches is, of course, via the bank transfer. Maybe the most secure option there is available out there, but however, also the slowest one. Transactions through your bank will take from 1 to 2 working days. Even if it is free of charge via our Sportmarket platform, you may have additional charges from your bank. This will depend on your location and bank fees and from the currency you are using. Also, if you do not have a mobile bank app and an option to check the status of your transactions, a walk to the bank will be mandatory.
Bitcoin (BTC)
Using cryptocurrencies is all the rage right now. We already explained the whole process of how to place a bet using Bitcoin in our previous article, but why should you try that out, anyway?
Payments via this currency are done completely online and are super convenient. Bitcoins will be directly converted to your currency. Transactional fees are quite low if you decide to try using Bitcoin on our platform for betting purposes. Placing your bets in Bitcoins secures you from price oscillations since Bitcoin is a more stable currency than the rest of them. Sportmarket betting platform is a great place to try out how the betting with Bitcoin works. As of 2023, Sportmarket has also included the popular cryptocurrencies, USDT and USDC, which are known as Stablecoins. They are designed to maintain a stable price at all times by being pegged to the US dollar.
EMIs
EMIs or Electronic Money Institutions are digital banks. This means that they do not have physical places of conducting transactions. Everything is done online and all your transactions are fast and secured. Something that sets EMIs apart from all the rest payment methods is the fact that EMIs have fixed fees. Therefore, the amount of money which is transferred will not dictate the transaction fees. This is a great advantage especially if you make transactions of your winnings often on a regular basis.
Which EMI should you pick? Check out our previous article about EMIs to make an easier decision.
eWallets
Besides bank transfers, BitCoins and EMIs, there is another option of managing your digital money transactions. And that is through having a digital wallet, or more popularly called, eWallet. Having an eWallet is a convenient way of storing your deposits and managing your withdrawals without dealing with banks and paper money. Have you heard of Skrill, Neteller, ecoPayz or MuchBetter? Those are all different companies which built their eWallets. If you are looking for a convenient and fast way of managing your digital money with instant deposits, eWallet is the way to go. Especially, if you are doing a lot of online shopping besides placing sports bets, eWallet is a really great solution for your needs.
Conclusion
Digital money is slowly becoming the norm today and especially in the world of online sports betting. It offers a quick and safe way of managing your earnings without paying the visit to the bank and dealing with paperwork and paper money. Whether you choose Bitcoin, Electronic Money Institution or just opening your handy digital eWallet is up to you, but stepping up your game when it comes to making sure your winnings are secured is a definitive must. Updated in 2024