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SO you want to have a punt online.
That’s great!
There are plenty of online bookmakers ready to take your bets.
But first thing’s first.
Once you sign up, you need to be able to get your hard earned to the bookmaker in order to use it to place your bets.
Fortunately, there are a plethora of ways to do this. Here we take a look at the deposit options offered by most Australian bookmakers, just to make things a little easier for you, the punter, to get your AUD into your betting account.
Using credit and debit cards to fund your betting account
Using your MasterCard or Visa is where it’s at for a swift deposit into your online betting account. The funds are available as soon as you hit the deposit button and there are usually no fees associated with this method of topping up your account. Of course, the one issue here is that you usually need to send a copy of your credit card off to the bookmaker by scanned fax or email for verification purposes and to prevent fraud. This means that they have your details on file – so you have to have trust that your bookie is going to protect that information. If you’re keen to withdraw using your credit card, you had better check with your provider, because many banks have restrictions on how funds can be deposited into credit cards.
Transfer cash from your bank account to your betting account
If you’re happy to wait a couple of days to play with your funds, then the electronic bank transfer from your bank account to your betting account will be perfect. As mentioned, the drawback is the time it takes to get from your account to the bookie, but you’ll find most bookies have their account details available. There are usually no fees charged for this method and it is a lot more secure than the credit card option, because you don’t have to hand over your access details. A good way to get your real cash into your betting account. On the reverse, this is the most popular way to withdraw funds, as the bookie sends it back and it appears as real cash in your account within a day or two of your withdrawal request.
How to BPay your online bookmaker
Have you paid a bill before using BPay? Well you can also pay into your betting account using the same method. Just like your pesky electricity or gas bills, you can load up your netback – or pick up the phone – and use BPay to do the same thing with your betting account. Again, though, it does take a couple of days for the funds to come through, so make sure you plan ahead if you’re going to use this method. BPay uses a biller code and an account number transfer funds through secure channels. All you have to do is get the details off your bookmaker. just look for the BPay logo in the bookie’s payment options.
PayPal your way to punting glory
You can shop until you drop with PayPal, but you can also use it to transfer currency to your online betting account. In the same way that you’d make a purchase on shopping sites like ebay.com PayPal either uses funds you’ve already deposited from your credit card or bank account to send through to your betting account. It can also directly access your credit card, should there be no funds available in your PayPal account at the time, meaning the transfer is instant. If this is your preferred method of deposit, the bookie’s site will redirect you to PayPal, where you would usually use your email address to log in and make the payment. It’s very simple and, as we’ve said, if you use PayPal for online shopping, it should be a breeze to send a little punting dough over to your betting account.
Make deposits into your betting account with POLi
POLi is fast becoming the most popular way to transfer funds to betting accounts in Australia. it’s a relatively new method, but uses your net banking system to make an immediate transfer, meaning your funds are available as soon as the transaction is completed, rather than having to wait a couple of days for your regular bank transfer to go through. It ticks all the boxes – fast, secure and convenient to use. If you’re worried about the program’s ability to access your online bank details, you can be safe in the knowledge that the system handles more than $1 billion worth of transfers each year. When you click the POLi option, your bookmaker’s website will redirect you to your chosen online banking site, where you log in as if it was normal. But it uses secure encryption to access your account and you still get the final say on whether the transfer goes through or not. Early days the program could be a little temperamental, but it appears those issues have been sorted out and we’ve certainly not experienced any recent dramas depositing with our favourite bookmakers in recent times.
Need to send money to your betting account? Skrill Moneybookers is the answer
Skrill is a strange little name for a transfer method, but it works really well because you don’t actually have to show your banking details and the transfer is instantaneous. For want of a better term, the artist formerly known as Moneybookers is somewhat of a ‘digital wallet’ that you can load your funds into and then use to make immediate deposits into your betting account. You do this by the traditional ways, credit or debit card, bank transfer, POLi or cheque. It is a United Kingdom based service, but many Australian bookies will allow you to use it. The one downside to the Skrill service is it does charge a fee on your transfers. The good thing about Skrill, though, is you don’t actually have to provide your bookmaker with your bank account or credit card details to make deposits using Skrill. Just as an addendum, if you’re punting with an international bookie, you can’t use POLi – but here’s the thing, you can deposit funds into your Skrill account using the POLi service and then use your Skrill to send the money to your overseas bookmaker.
Masterpass your real money into your betting account
Similar to Skrill, Masterpass uses a virtual wallet, but it is an app that basically allows you to use any card you like to send funds through. Designed for use on the mobile or tablet, it’s very easy to use, although not all online bookmakers have made it available yet. Fast growing, it should be a very viable option for transferring funds in the coming years. The app stores your credit card details, so you don’t need to have it physically on hand to make your payment. It’s already there, you just need to log on.
Get onto Neteller to top up your betting account
Another online wallet type, Neteller is said to be just as safe as the others we’ve mentioned and, just like Skrill, it allows you to keep your banking details hidden from your bookmaker. Another United Kingdom based company, the drawback to this is if you use your credit card to upload funds, it incurs a charge on the transaction. Fortunately, and also like Skrill, you can use POLi to make your transactions for free. And the deposit is immediate, so you can click and play very easily. Neteller charges big fees to withdraw from it, so make sure any funds you deposit are going to be used up.
Mobile options for depositing and withdrawing funds from your betting account
The best thing about all the options we’ve detailed above is that you can use them on the move. You don’t have to be sitting in front of the computer to get the job done. You can use your smart phone or tablet to either deposit or withdraw using all the methods above. Some of them even have apps that will store your details, making the clicking process even easier. All you have to do is use your iOS or Android enabled system, (iPad, iPhone, etc) to access your online bookmaker’s mobile site or app and then find the banking options for deposits and withdrawals. Select the option you like best and happy trails.
Is transferring money online safe?
While there is always a small element of risk when uploading your banking or credit card details online, the short answer here is yes. Obviously you need to make sure your anti virus software and protections are up to scratch if you’re using a desk top, but, on the whole, you’ll find that almost all online bookmakers use security measures that adhere to the strictest of rules and regulations in Australia, in order to protect your account details. Punters will be heartened to know that those rules and regulations are among the tightest in the world, meaning all the reputable bookmakers are forced to step up, or suffer the consequences when it comes to customer protections. You’ll usually find most bookmakers use the powerful Verisign Secure site, which is licensed in Australia by the Northern Territory Racing and Gaming Commission, and the superb 128-bit Secure Sockets Layer (SSL) encryption, which is used by banks all over the world, is there to protect your details during transactions.