Making payments on gambling websites is arguably the most important aspect of actually participating in the industry. There are dozens of payment options to choose from for a whole slew of industry segments. But what are the best payment options for eSports betting websites? What do they offer and why are they so beneficial to the community?
In most cases, you will find more than one payment option featured on a gambling platform, which usually also include credit card payments such as Visa or MasterCard. Some of them even have direct Bank Transfers.
One of the few problems associated with these types of payments is the amount of time that it takes to be confirmed and the relative lack of privacy as well.
Most banks keep quite a large repository of databases which store the customers’ payment histories. This data is then used to rate every customer for their eligibility for utilizing the bank’s benefits. Things such as loans, interest rate discounts and various other perks are usually taken away from those who have not shown trustworthiness in dealing with their finances.
This is referred to as credit score, and every eSports bettor needs to be aware of it, as it may be already too damaged for them. The reason why eSports betting payments have so many options is to provide at least some type of privacy to the players. Paments such as:
Are there to ensure fast transactions, low fees and relative anonymity in the daily dealings of a user.
However, there are a lot more options available on some platforms such as Paysafe, Much Better, Maestro and etc. But the four listed above are arguably the best choice a player can go for.
Skrill – is good for fast and cheap transactions. It is supported nearly everywhere in the world except the United States and Canada. It is usually used for gambling transfers but is regarded as a safe option with a low fee of 1.9%.
PayPal – is the online payment behemoth. It was reluctant to allow gambling transactions, but the growth of Neteller and Skrill quickly forced it to provide online payments for eSports betting and any other gambling platform. It’s not the best choice for players as it provides transaction information to banks and has a steep fee of 2.9%
Neteller – is the alternative to Skrill, as PayPal can’t really come close to it in any way. It’s available in every country except the US, Canada, Israel and Chinese city-states such as Macau and Hong Kong. It has a higher than Skrill of 2.5% but is able to provide nice anonymity by hiding the user’s bank information.
Bitcoin – is arguably the most secure way of making gambling payments online. It cannot be traced, and most importantly, it can’t be charged back automatically. Therefore once you’ve made the payment, it will appear on your account immediately. It usually doesn’t come with large fees, and the user has a choice to use one at all. The more you pay in fees, the faster the transaction will happen.
Overall, there are a plethora of choices for making eSports betting payments online, but still, most players use the four options listed above. You can go with Credit Card and Bank payments of course, but be aware that your bank will be tracking those transactions and using them against you in the future if you want to apply for a mortgage or a personal loan.