Online betting has grown massively in recent years, but how you ‘deposit’ and ‘withdraw’ funds can often be complicated and extremely frustrating, even at some of the big name bookmakers.
Not only this, but if you use your debit or credit card to deposit funds, then you often find:
- Large transaction fees for depositing with certain credit or debit cards
- Lots of hoops to jump though in verifying your bank details
- Delays in your funds reaching your account
- It makes a real mess of your bank statement (lots of ins and outs)
- No way of separating your betting from your everyday banking activity
That last point is crucial and is the reason why a large proportion of gamblers set-up new bank accounts solely for betting purposes. Being able to manage your finances and having visibility of all your betting transactions in one place is a ‘must’ for any punter.
Skrill Great For Betting Accounts
The good news is that a tried and trusted solution to all these problems is available in the form of a company called Skrill (formerly called Moneybookers) who offer a one-stop, easy solution for gamblers.
By opening a Skrill account you effectively have a digital wallet, similar to that available with the likes of Paypal. You can then use this for handling all your betting deposits and withdrawals and it’s something we have long recommended to Smart Betting Club members and indeed use ourselves.
Its FREE to open a Skrill account and they actively welcome betting people (not something you can say for all companies!).
Once you have an account, you can use it to upload and withdraw funds to your bookmaker account instantly with only your email address and password. Best of all, uploading money into your Skrill account won’t cost you a dime if you use a bank transfer…And there is only a small flat fee per withdrawal to your bank account. Below you can find the current withdrawal fees as of 30th November 2012 – as little as £1.46 via Bank Transfer and Visa with £2.84 for a Cheque.
An Easy Way To Transfer Winnings Into Your Account
It’s not only the ease of use that makes Skrill so useful but a whole host of other reasons. Because you can freely deposit and withdraw from your bookmaker to Skrill as often as you like, you can use it to regularly empty your bookmaker account too.
The bookies encourage you to leave large sums of your money in your account with them as it earns them interest. Far better for your own peace of mind (and also with concerns over the security of some bookmaker accounts to hacking) to have it safely tucked up in your own Skrill account. So next time you bag a big winner, you know what to do!
There are other benefits to using Skrill as well such as…
- Instant withdrawals and deposits into bookie accounts
- Keep your betting account separate from your main bank account
- Have one location for all your betting deposits and withdrawals
- Ease of use if keeping records of your betting profit and loss
Skrill are also fully vetted, authorised under UK and EU law and regulated by the Financial Services Authority (FSA) in the UK.
More Betting Expert Advice
It’s fair to say that Skrill is still a fairly little known secret amongst many gamblers, who often only find out through word of mouth or research. However here at SBC, It’s one of our top tips, especially if a regular bettor and looking for an easier way for withdrawing and depositing to bookmaker accounts.
For more help and advice on topics such as Skrill and how to improve your own betting, then try out a Smart Betting Club membership. You can join today, risk free for as little as the equivalent of £1.33 a week.