You can tell a lot about an online bookmaker, simply by looking at what types of banking options it offers. This is an incredibly important factor when picking an online bookmaker.
The Best Bookmakers for Depositing and Withdrawing
It will completely affect the ease with which all your transactions are made. So, you need to find a bookmaker that offers the best banking options. You ideally want to use an online bookmaker that makes both depositing and withdrawing quick and easy.
One of the biggest and most common complaints that punters have about online bookmakers is to do with their banking practice and its lack of flexibility. To make sure you can find a bookmaker that has a great service, we’ve checked through various sites and come up with the bookmakers with best banking options for you.
How We Made our Choice
One of the first aspects that we need to look at is the amount of options available for everyone. Obviously, most online bookmakers allow customers to use credit and debit cards such as Visa and MasterCard. Some, but not all, have even more variation, allowing Maestro and American Express, although this is less common. There are customers who don’t wish to attach their banking details to the site and because of this, the better sites will give you options to use eWallets such as Neteller and Skrill. A few also have the option of prepaid cards, to help you control your account as well as having the added option of PayPal, which gives you extra protection. We have looked at those that give the most options to suit everyone.
However, this is not the only factor involved. Another big issue is the speed. Most online bookmakers have instant deposits, as it is in their best interests to get you betting on the site as quickly as possible. However, there are some that have rather slow withdrawal options. We have taken into account the speed and ease of withdrawals as it is important that you can get to your winnings as quickly and easily as possible.
We have also looked at the minimum and maximum deposits and withdrawals. Most sites have a minimum deposit of around £10, which is standard. However, if a site is asking for more, then this is a factor you need to take into account. You should not have to deposit a large amount to make a bet. If you want to make a £5 or £10 bet, why should you be required to deposit £20+ into your account?
One of the biggest issues though, is the minimum and maximum withdrawal limits. If the bookmaker has high minimum withdrawal limits, this means that you can’t get to your winnings unless you get over a certain amount, which can be impractical if you aren’t a big bettor. Also, there are some that have maximum withdrawals. Although these can seem large, it will affect getting your hands on any exceptionally big wins – so if you’re a jackpot chaser this is something to think about.
Most of the biggest and best bookmakers around do not set withdrawal limits as they understand that if you have won your bet fairly, then that money is yours and you should be able to get to it when you want. Always be wary of bookmakers that have low withdrawal limits as it might be the type of bookmaker that makes it difficult for you to get to your money in other ways too.
Finally, we look at fees attached by the bookmaker. There are some bookmakers out there that feel that it is okay to attach fees to your transactions. Obviously most choose not to when it comes to depositing, because they want to encourage you to put money in there, and fees can be off putting. These fees usually raise their ugly heads when it comes to you getting your money back out again.
Before you ever put your money in, check out the withdrawal policy regarding fees. Ultimately, if they charge admin fees to process your withdrawal, then they are charging you to get what is rightfully yours, so steer clear. Some give you three free withdrawals a month and fees thereafter. This is quite easy to get around as you simply wait for three standard times in the month to withdraw, making sure you don’t exceed this. Some have fixed fees. In this case, if you do find yourself in this situation, you should make sure you have a substantial amount to withdraw first – stick to making one or two big withdrawals rather than lots of smaller ones.
However, it is clear to see that the bookmaker is encouraging you to keep your money in the account for extended periods of time, which encourages you to place more bets. The best choice is simply to pick a bookmaker with no withdrawal fees and you know exactly where you stand.