Sports betting has recently been one of the fastest-growing industries globally. 2017, this sector was worth $210 million and is estimated to increase to $87.75 million by 2024. However, the growth of the industry depends on the engagement of players.
And if we talk about what players search for first while registering for any sportsbook, it is the safe and convenient payment option. It helps them to place their bet securely and collect the winning instantly.
Besides that, you can make your sports betting more enjoyable by using the Betway app to wager on rugby, soccer, golf, tennis, or basketball. Its multiple betting options, incredible offerings, and live betting excite all sports lovers. For now, take a quick look at the five most popular payment options for sports betting in the article below!
Debit and credit cards
These are the most popular and oldest payment methods in the sports betting industry. You can pay using MasterCard, Visa, or American Cards in most sportsbooks. They are safe, fast, and reliable, and the convenience is hard to compete with other payment options. Moreover, there is no involvement of any third-party operators.
Cryptocurrencies
Cryptocurrency has been around for a long time now in sports betting. It is the most convenient and fastest way to claim your money from any sportsbook. Whenever you pay using crypto coins, the blockchain will give you an update and a new passcode. So, there will be no chance of identity theft while placing any bet to win big.
Many sports betting sites offer cryptocurrencies like Bitcoin, Ethereum, Bitcoin Cash, and Litecoin that come with instant deposits and payouts within an hour. Moreover, there will be no transaction fees with these digital currencies.
PayPal
PayPal is quite popular in the United States and also in other places all around the world. Initially, when sports betting was legalized, it was not used as a deposit option. But with time, it is also accepted as the reliable and secure payment option in most sportsbooks. Swift turnaround on withdrawals and incredible acceptance rate are the reasons behind its immense popularity recently.
Bank Transfer
Bank transfers are another incredible deposit method in many sports betting sites. This method transfers the funds from the user’s bank account to the sportsbook. If you prefer to use credit or debit cards, a bank transfer will be suitable for you to complete the withdrawal.
Moreover, it uses a KYC procedure that helps prevent money laundering and fraud cases. This option is pretty convenient for instant deposits and payouts. However, it may take some time during the withdrawal process.
Skrill
With Skrill e-wallet, you can expect easy money transfers while betting in any online sportsbook. It is available in nearly 200 countries and accepts around 40 currencies. This e-wallet lets you connect your accounts with debit, credit, and bank accounts.
Both deposits and withdrawals will be convenient with it. Furthermore, your fund will be secured as it does not involve any third party. Skrill offers players instant deposits, but the withdrawals may take a few business days.
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