Published on May 6th, 2021 | by Sunit Nandi0
10 of the Best EWallets in the World for Betting Payments
When it comes to making deposits and withdraws from online betting sites there are a few things that punters want: speed, security, low fees, and low minimums.
EWallets, as opposed to older payment methods like bank transfers, prepaid cards, or even cheques, offer all of these things in abundance which is one of the reasons why they have become the preferred method of payment for many punters across the world.
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EWallets, or digital wallets, are software-based systems that store users’ payment information to make fast, secure online payments. Today, eWallets can be used to make in-store purchases, money transfers, and ATM withdrawals but they are most commonly used to make online purchases.
At betting sites, eWallets can be linked to customer accounts so that when players want to bet on Melbourne Cup horse racing in Australia, Champions League football in France, or Indian Premier League cricket in India they don’t have to enter their payment information and wait days for confirmation from their bank.
Instead, eWallets (which are often still linked to credit cards or bank accounts) will confirm payments instantly while keeping users’ bank accounts and betting site accounts separate and private.
As eWallets become more widely available in the sports betting world we take a look at the top 10 best eWallets in the world for betting payments.
1. Airtel Money
Airtel is the preferred eWallet of punters in many African countries. It is particularly popular because users do not need a bank account to use Airtel, they can send and receive money to and from other Airtel accounts.
The fees for betting payments with Airtel depend on your deposit and withdrawal amount but they are low. Besides betting payments, Airtel is also popular for same-currency transfers (which are free), and it can be used for cash withdrawals, to pay bills, make online purchases, and buy mobile data from Airtel Mobile.
2. Apple Pay
The Apple Pay app is among the oldest eWallet apps on the market and it is available around the world for many iOS users. The app is built into newer iPhones and therefore it is one of the easiest eWallets to use and access for many bettors.
A variety of different currencies and card types are compatible with Apple Pay and it is especially popular for players who use iOS mobile betting apps in countries like South Africa, Australia, New Zealand, Brazil, Mexico, North America, and much of Europe.
Ecopayz is used in 173 different countries. This makes it the perfect payment provider for international betting sites that operate in multiple different geographies because they can use the same software across their different markets to enable users to make instant deposits.
Despite this, many online bookmakers don’t allow Ecopayz withdrawals which may be an issue for some punters. However, players will still be happy to know that all Ecopayz accounts are secured by SSL bit encryption technology.
An alternative to Ecopayz that is also widely available around the world is NETELLER. NETELLER is popular for punters in countries like Australia where some banks restrict deposits to betting companies.
Because NETELLER acts as a middleman, your bank won’t know that your payments are being used for betting and so will approve withdrawals to NETELLER. There are small fees associated with NETELLER top-ups on sports betting sites so punters tend to use this digital wallet for larger transactions.
This eWallet doesn’t need much of an introduction.
Aside from being the biggest payment provider for betting websites around the world, PayPal is used for everything from online shopping to Netflix subscriptions and Uber Eats orders. PayPal is the biggest eWallet in the world and one of the most trusted, secure, and technologically advanced available.
You may have never heard of Paytm but that’s probably because most of their business is done with India’s 1 billion person population.
In India, online betting is in somewhat of a legal grey zone, and therefore having access to an eWallet like Paytm is highly sought after and adds to the legitimacy of operators in the region. Paytm supports Indian Rupees deposits, is regulated by the Reserve Bank of India, and allows users to link their debit and credit cards for faster payments.
Australia has one of the highest rates of betting per capita and as you would expect an Australian-based digital payment provider like POLi is among the top choices for Aussie punters.
New Zealand-based bettors can also use POLi and their fees are capped at $3 for both online and mobile payments.
Skrill is another solid and widely available digital wallet that supports over 30 different currencies including the United States dollars and Euros.
Like other eWallets, there are small fees when making deposits but unlike some eWallets on this list, Skrill is available for both betting deposits and withdrawals.
Over two-thirds of Swedish people use Swish and the digital payment provider is often blamed/praised for the cashless nature of today’s Swedish society. Swish is used for everything from online payments to in-store purchases and even sending money to friends and family.
Swish was adopted by some of Sweden’s biggest betting websites in the last few years and because it is so fast, and so many Swedes already use it, it is quickly becoming the preferred payment method in the country.
10. Vodafone M-Pesa
In Africa, and specifically Kenya, M-Pesa is the preferred mobile payment platform. In fact, over 40 million Kenyans have M-Pesa accounts which represents around 80% of the country’s population.
Registered users are treated to lower transaction fees of approximately 27 Ksh and M-Pesa is by far the most popular deposit method used on sports betting sites. The processing time is instant and minimum deposits go as low as 10 Ksh on some bookies.
While not all of these eWallets are available in every country the 10 digital payment methods above are among the world’s biggest for sports bettors. As new countries continue to embrace both sports betting and the digitization of payments the list of options for punters is only going to grow.