With the advent of online sports betting, the need for reliable and discrete methods of payment has never been greater. It is true most virtual sportsbooks support card transactions but this is not a viable alternative for bettors who want to retain their privacy and avoid sharing their card details.
Currently, a new breed of banking solutions rules the online betting market, with Skrill leading in terms of availability, frequency of use, and fluidity of the payment process.
This type of digital wallet and e-commerce platform saw the light of day in 2001 and has been making waves in the online betting circles ever since.
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One year later, it became the first FCA-regulated electronic-funds issuer in Europe. It was branded as Moneybookers at the time of its arrival but was officially rebranded as Skrill in 2013.
Headquartered in London, Skrill is listed in the cashiers of hundreds of online sportsbooks. Some of its biggest partners from the betting industry include bet365, Betway, Ladbrokes, 188BET, and William Hill. It allows for hassle-free deposits and withdrawals in more than 40 currencies.
Above all, it furthers payees’ privacy since it does not require them to reveal any personal or banking details when using its platform. Instead, they pay straight from their e-wallet balance.
This is a truly global payment services provider that operates in 200 countries or so. As such, it supports a platform that works in twelve languages.
Registering an Account with Skrill
Before you can start using Skrill for transactions to and from your online sports betting balance, you need to set up a free account for an e-wallet. This is where you store the funds you will later transfer to your sportsbook of choice.
The registration process is not a hassle at all. It will require but a fraction of your time since you only need to fill in the sign-up form with your details.
These include your first and last name, a valid email address of yours, the country you are permanently based in, and your currency of choice. You also need to choose a password to access your Skrill e-wallet with.
Once the registration process is complete, you must fund your new e-wallet. Some of the most popular payment options you can use for the purpose include manual bank transfers, credits or debit cards, and rapid bank transfers.
Another alternative is to use Neteller provided that you already hold an account for its e-wallet service. The cryptocurrency Bitcoin and third-part online banking platforms like Klarna, Giropay, and Trustly are also supported for this purpose.
It is recommended to validate your Skrill account as this will lift the restrictions on your transactions. Do not worry, the verification process is not as scary as it sounds. The requirements are to upload a legible copy or scan (in color) of an identification document.
For the purpose, you can use your driving license (front and back), your passport, your national ID card (again front and back), and a utility bill to confirm your permanent residence address.
A selfie is also needed so that they can ensure your face matches that on the identification document you sent.
Once you process $6,000 or more to online sportsbooks and other merchants via your Skrill wallet, they will automatically upgrade your account to VIP status.
The $6,000 in transactions must be transferred within a single quarterly period. You can also apply for more accounts that use different currencies once you reach Silver or Diamond VIP status.
Supported fiat currencies punters can set up Skrill accounts in – AED, AUD, BGN, BHD, CAD, CHF, COP, CZK, DKK, EUR, GBP, HKD, HRK, HUF, ILS, INR, ISK, JOD, JPY, KRW, KWD, MAD, MYR, NOK, NZD, OMR, PLN, QAR, RON, SAR, SEK, SGD, THB, TND, TRY, TWD, USD, ZAR
Available languages punters can open Skrill accounts in – English, German, Greek, French, Spanish, Italian, Polish, Romanian, Turkish, Czech, Russian, Chinese
Depositing to Sportsbooks with Skrill
Punters who have never used Skrill before will be surprised by the fluidity this payment platform ensures. It works for deposits as well as for withdrawals. Both processes are equally time-efficient and free of hassles.
Best of all, most of the established sportsbooks on the market do not charge additional fees on payments conducted with Skrill.
If you like to redeem welcome bonuses and free bets, we recommend you to first take some time to go through the promotional terms of your sportsbook(s) of choice.
Some bookies do not allow customers to claim any deposit-related perks if they have made their payment with Skrill or other similar e-wallets like Neteller, ecoPayz, and WebMoney.
The limits on deposits and withdrawals conducted with Skrill vary across online bookmakers. Check the cashier system in advance to see whether the allowed limits for Skrill coincide with your personal betting needs.
Below is a step-by-step explanation on how to conduct your first Skrill deposit to a web-based bookie.
- Log into your sports betting account if you have one already. If not, fill in the registration form with details like your name, birth date, valid email, telephone number, and residence address. The sportsbook will send a link to your email to complete your registration with. Some websites prefer to text customers the activation codes on the mobile numbers they have provided.
- Once you have set up your account, you must navigate to the mobile cashier where you needto select the Skrill logo from the list of supported banking alternatives.
- Enter the amount you want to transfer to your sports betting account in the designated field and click the Confirm/Deposit button.
- If you intend to use a welcome or reload bonus that requires an opt-in, tick the opt-in box or enter the promo code that applies to your chosen bonus.
- A new window will open prompting you to enter your Skrill log-in credentials, i.e. the email you registered your e-wallet account with and your Skrill password. Click the log-in button.
- A new pop-up window will appear where you must provide a six-digit security code. This is required for the purpose of preventing automated hacking attempts.
- Go through the details of your payment once again to ensure everything is correct and confirm the money transfer from your e-wallet balance.
- The funds will be instantly added to your sports betting balance so you can start punting immediately.
Withdrawing from Sportsbooks with Skrill
The process of withdrawing with Skrill is rather similar to that of depositing with the method. There are some differences, however, especially if you have registered a new account with an online sportsbook.
If this is your first withdrawal from the website, they most certainly will request you to send documents to verify your identity, residence address, and age. This procedure is rather similar to verifying your Skrill account.
Afterward, the sportsbook’s financial department will require some time to review, assess, and approve your Skrill withdrawal request. The exact approval timeframes vary between several hours to three business days depending on the policies of the bookie.
The beauty of using Skrill for withdrawals is that the funds hit your e-wallet balance almost immediately after the sportsbook releases them from your cash balance. Go through the step-by-step process below for further clarification.
- Open the online sportsbook’s withdrawal page.
- Select Skrill as the chosen method for your withdrawal. Some bookies would automatically return your money via the same banking solution you have used for deposits.
- Enter your details in the form as well as the sum you want to cash out.
- Confirm the payment and that is it. All you have left to do now is wait for the sportsbook to approve the payment and send the money to your Skrill balance.
Fees Related to Skrill Betting
We previously explained there are usually no fees associated with Skrill payments on behalf of the sportsbooks themselves. Of course, it all depends on which bookie you punt with.
We have seen bookies charging as much as 5% on top of the requested withdrawals for Skrill. Sending money from your e-wallet account is not charged extra by Skrill itself, though.
However, some fees may result from using this e-wallet service, particularly when you load funds into your Skrill balance. Regardless of whether you use a card, manual bank transfers, online banking processors, rapid transfers, Bitcoin, or Neteller, you will have to contribute a 1% fee.
The money is instantly added to your e-wallet balance with all supported top-up options bar the manual bank transfer, in which case you will have to wait up to five business days.
Skrill also charges currency conversion fees of 3.99% but the exact percentage may vary depending on the status of your account.
Benefits of Betting with Skrill
There are plenty of benefits of using Skrill for the purposes of sports betting, starting with the fact it allows you to keep your personal and banking information private. Transactions are kept strictly confidential since your name and residence address are never revealed to the online sportsbooks you punt with.
Another advantage is that you have real-time access to your sports betting bankroll. Deposits to online sportsbooks are instant with this e-wallet, enabling you to punt immediately after you confirm the transaction.
The method is broadly available across most sports betting sites. If you sign up for a Skrill account, you will experience no issues with finding a sportsbook to bet at unless you are from the USA.
Moreover, the e-wallet is offered in more than 200 countries and supports 40 different currencies. If you are one of those punters who prefer to use a payment solution that accepts their currency, Skrill is most definitely the right option for you.
Another good reason to choose Skrill for your sportsbook payments is the marvelous customer support it provides. There is a detailed help section with frequently asked questions on the website where Skrill users can find comprehensive information about account management, security, payments, and fees.
Also, you can always give them a ring or email them at firstname.lastname@example.org if you happen to experience a more complex issue. The method supports toll-free phone lines for international customers. It will cost you nothing to call and receive assistance.
Finally, this e-wallet is incredibly secure to use. Your details are kept confidential, not to mention all the information you send to your online sportsbook of choice is SSL-encrypted.
Drawbacks of Betting with Skrill
Although there are many benefits to using Skrill, the e-wallet is not entirely lacking in disadvantages. Some online punters consider the registration process a nuisance and prefer to use other payment alternatives that do not require them to sign up. The positive here is that the registration is free of charge.
Furthermore, you have to verify your account by sending them a bunch of documents to prove your identity and residence address. If you skip on the verification process, you will have to suffer limitations on your payments. This is especially detrimental to professional bettors who frequently put large amounts of money at stake.
Although many online sportsbooks process Skrill payments at no cost, there are small charges on behalf of the e-wallet company. Most methods you can top up your e-wallet balance with involve charges. If the sportsbook you punt with does not support the currency of your Skrill account, you will also be charged for the conversion.
Promotional incentives are important for many sports bettors, especially rookies who are trying to build a sports betting bankroll. Unfortunately, an increasing number of sportsbooks are beginning to exclude e-wallets like Skrill from bonus redemption. It is not unheard of Skrill users to deposit only to find out they cannot redeem a welcome bonus with this method.
Regulation and Availability with Skrill
Sports bettors who use Skrill for gambling transactions can have their peace of mind where security is concerned. This e-wallet is regulated by the Financial Conduct Authority (FCA).
The latter is responsible for the oversight of the conduct of more than 58,000 payment services companies and financial markets across the UK. This alone is enough to assure you Skrill is a secure method to use for online betting transactions.
The e-wallet is available across hundreds of web-based sportsbooks including major players in the industry like Ladbrokes, William Hill, Betway, and 888sport. You will be hard-pressed not to find a website to punt for real money on if you are using this e-wallet.
On a side note, the method is available for use in the United States but it is impossible to implement it for online gambling transactions at foreign-lisenced sportsbooks. This is due to local restrictions under the Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006.
The UIGEA prohibits banking institutions and payment services providers from processing financial transactions to gambling sites licensed and based outside the country. Basically, US residents can use Skrill for anything else but online gambling.
As we pointed out earlier, this e-wallet solution is available across an impressive number of countries, over 200 to be precise.
Some of the locations punters can set up Skrill accounts from include Canada, China, Australia, the UK, Finland, France, Ireland, Italy, Mexico, the Netherlands, New Zealand, Norway, the Philippines, Portugal, Russia, Singapore, South Africa, Spain, Sweden, Switzerland, Thailand, Turkey, and the United Kingdom.
As you would expect from a payment services company subjected to the oversight of the Financial Conduct Authority, Skrill offers incredibly high levels of security.
It all starts with the fact there is no need for you to reveal any sensitive information to your online bookie when you process payments via the Skrill platform.
When you initiate the payment, you are redirected to your e-wallet account without the need to input any card or bank account information.
Of course, everything is encrypted with SSL both on the side of Skrill and the online sportsbook you are using. In particular, the e-wallet platform relies on 128-bit encryption with a certification of VeriSign.
Customers’ security is a priority of Skrill. The e-wallet implements in-house-developed tools to monitor every transaction that goes through its platform. The payment company does not share any of your sensitive details with third-party retailors or online sportsbooks in this case.
Skrill has over 36 million customers worldwide and this is no coincidence. The method offers great flexibility and is particularly useful to sports bettors since it allows for strictly confidential and well-protected payments.
This e-wallet is highly popular among punters because it is accepted across hundreds of licensed sportsbooks including industry veterans like William Hill, bet365, and Ladbrokes. Deposits with Skrill are processed instantly and typically at no extra cost for sportsbook users.
Withdrawals are also rather time-efficient since the funds become available into your e-wallet balance right after the betting operator releases them from your account. The method is cost-effective, highly secure, and very flexible. Check out our list of Skrill sportsbooks if you are looking for a trusted betting site that supports the method.