Skrill

E-wallets like Skrill are secure and fast for sports punters to get money into or out of their betting accounts. The wallet is more like an online personal bank account that has been used for over a decade. People use this digital wallet to store money online, make payments, and receive funds.

Additionally, the payment method acts as a middle-man between a punter's betting platform and personal bank accounts. Plus, players can make a Skrill deposit without even providing their banking details. Many sports betting providers worldwide accept payments made via this banking method. Here's the full low-down on this online banking option.

Sportsbooks And Skrill - Overview

Previously called Moneybookers, Skrill began its operations in 2001 and had its headquarters in London. After operating for six years, Investcorp purchased the e-commerce business for about €105 million. The company expanded its operations rapidly to reach millions of customers globally. Skrill's services are available in over 200 countries, and the banking method is supported by close to 16000 online businesses and merchants.

Today, the e-wallet is one of the most commonly used payment methods in the online betting space, mainly because the e-wallet allows for fuss-free and fast payments. In fact, its history closely links to betting since it was the first e-wallet to process online payments to and from gambling operators.

Away from that, the method is perfect for both cash-ins and cash-outs. The best thing is that a Skrill withdrawal is relatively easy since the e-wallet directly links to a bettor's bank account. For this and other reasons, the largest and best online sports betting apps, including William Hill, Betfair, and Ladbrokes, allow deposits and withdrawals via this payment method.

However, online punters from Turkey and China cannot use it. And if the payment method in question is available in a particular country, bookmakers usually list it among the available options.

Deposits and withdrawals using Skrill

Compared to other well-known digital wallets, Skrill has relatively similar e-wallet services. Users do not need debit or credit cards to enjoy the benefits because the digital wallet is an intermediary when processing various online payments. No third party is involved in using the wallet, making everything fast and straightforward.

However, users must fund their accounts before depositing to their preferred betting sites. The most common way to do this is by initiating a bank transfer, which needs to be linked with a card from the bank. Afterward, the bettor can wire money to their betting account easily and instantly.

Further, withdrawals are relatively easy and instantaneous since no verification is needed. Players can even initiate transactions with their mobile devices, thanks to the dedicated mobile app. That said, the payment option charges nominal fees every time a player uses the service.

How to deposit with Skrill

1. Log in to the online gambling account. With an active and funded Skrill account, the bettor should visit the sports betting operator's site and sign in to their betting account. This step typically requires the account's username and password only.

2. Go to the cashier menu and select Skrill. Here, the bettor will choose this e-wallet as the preferred deposit method.

3. The sports betting operator will prompt the bettor to log into their Skrill account. Often, the player will only need to provide their username, password, and 2FA to gain access.

4. Select the amount to deposit. If there is a balance on the e-wallet account, the site will initiate the payment while protecting the punter's banking information. Otherwise, the site will prompt the bettor to initiate a transfer. The bookie will instantly credit the betting account afterward.

Safety and trustworthiness

Sports gambling enthusiasts who wager on regulated Skrill betting sites have no reason to worry about their safety. The payment method doesn't require users to disclose their banking information. Further, all payments are processed within the platform, but users must provide their login credentials first.

Verisign's secure 128-bit SSL encryptions safeguard all the transactions initiated using the e-wallet. Moreover, the service uses its in-house security tools to back up Verisign's tech tools. As such, all payments undergo a rigorous monitoring process, which is why the e-wallet has an excellent reputation in the betting industry.

With this in mind, Skrill is one of the safest payment modes. Users can take various measures to ascertain their safety when using this platform. First, punters should ensure that they keep their login information private. Further, they should take advantage of the 2FA security addition, designed to lock out third-party interference.

Pros

• Easy deposits and withdrawals: Skrill makes it easy and fast for punters to deposit into and withdraw from betting accounts.

• Safely stores funds: The payment method uses Verisign's secure 128-bit SSL encryptions to safely store users' funds and information.

• Doesn't share users' details: Skrill has a strict privacy policy against information sharing with third parties.

• Accepts a vast array of payments: The platform allows users to make payments using a variety of methods, including Credits card and bank transfers.

• Popular: When you choose Skrill as a payment option, you'll have a wide range of sportsbooks.

Cons

• Unavailable in some countries: Punters in countries such as China, Israel, and Turkey cannot use Skrill as a banking option.

• Fees vary based on transactions. Depending on the transaction type, users incur varying fees. For example, when performing Skrill to bank transfers, bettors pay up to 7.5% of the amount as added costs.

• Unwarranted account limitations: This payment service has pretty tight security policies that sometimes lead to accounts being blocked.

• Slow response time to issues raised: It usually takes 24 hours or longer for customers to get a response from the support team.

Final verdict - Betting with Skrill

To sum up, Skrill is a relatively dependable online payment method, and players across the globe widely use it to make fast and secure payments online. While everything has its ups and downs, the pros of using Skrill as an online banking option have heavily outnumbered the cons.

The e-wallet is available worldwide, with just some countable exceptions like China. In addition, it is supported by hundreds of online sports betting sites. Although users incur charges when topping up or withdrawing from their wallets, the option is considerably less expensive. Apart from that, the service supports an array of currencies to help cut the extra costs of currency conversion.

Essentially, Skrill's services work to the advantage of punters. Their transaction limits are even more admirable as betting sites with this banking option have higher withdrawal limits than several other sportsbooks.