This is due to the fact that many of the online bookmakers are based in countries such as Antigua, Gibraltar, Malta or Cyprus, which are basically a financial paradise because of the extremely low or non-existent taxes, not to mention the huge number of currencies circulating in the countries where the punters come from.
So, it is almost impossible to use a direct banking system. That’s why the most popular options are licensed e-money issuers. An online service for electronic transactions, or e-wallet, is the equivalent of the traditional wallet; it acts as an online bank account, offering the usual options (deposit or withdraw money from it, transfer your funds, and also giving you the opportunity to spend your money anywhere online). You should expect no small inconveniences such as having to wait 3 to 4 days to pocket your income due to protocols.
Here are the main reasons you should choose E-Wallets:
- Reliability: Your money is always in your E-wallet, just like keeping them in your real wallet. Whenever you make a withdraw from a bookmaker, the amount is instantly transferred in your e-wallet and you can dispose of that money in whatever way you think it’s best for you.
- Lots of Funding Options: you want to make a deposit to a particular betting site but bookmaker does not accept your credit card, or you don’t have a one and can only make deposits by bank transfers that are also not accepted. That’s where E-wallet comes in. Most best Asian bookmakers, if not all, accept e-wallets as methods of payment. E-wallets accept almost all deposit methods – even checks.
- Privacy: Maybe you don’t want all the transactions you make to online betting sites to appear on your credit card statement. E-wallets work as a screen, masking the directions you send your money. The transaction history of your credit/debit card will show only transactions with the e-wallet company. Also, unlike credit cards, with e-wallets you don’t have to write down your personal details every time, thus making the money transfer more secure.
- Professional gambling: Experienced gamblers use e-wallets. They usually place bets at more than one online bookmaker. So, if they find better odds or a match offered only by a certain bookmaker, they can move their funds with ease, withdrawing money from a bookmaker to fund another.
It is fairly easy to open an e-wallet account. Choose your company, go to their website, fill out the register form with your personal details and, most importantly, don’t forget to put funds in your newly created account, taking advantage of the large variety of payments accepted by providers.
When it comes to money, it’s very important to keep safe. Research your e-money issuers well before you choose one and read as much from other users as possible until you get a good idea for yourself of their services.
Skrill (Moneybookers) and Neteller. Each of them is different, having its distinct advantages, depending on the type of gambler you are. However, they have a thing in common as well – great quality of service.
This post is also available in: Romanian