Neteller is a popular choice for real money punters online, but for those who aren’t familiar with this web wallet service we explain how Neteller works, what countries it caters to, the benefits and disadvantages of depositing with Neteller and how to use Neteller to fund your online sports betting site.
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What is Neteller?
Neteller is an online payment service that’s known as a web wallet or eWallet. It is basically a digital wallet that safely stores your funds in a secure online space until you are ready to transfer money over the Internet. Neteller has a shining reputation for security and reliability, making it a popular choice for online gamblers.
How to use Neteller to fund a sports betting site
Using Neteller is a quick and easy process. First up, you need to sign up for a web wallet with Neteller, which you can do in a few short minutes using the official Neteller website. Just enter your name, date of birth, address, phone number and email address and you will be given a user ID and password. To fund your Neteller wallet, choose from the list of payment methods available in your country and follow the prompts to load money into your digital wallet.
When your Neteller account is ready to go, you can use it anytime to make an instant deposit to an online sports betting site. The process is easy:
- Sign up for an account with a reputable online sports betting site that accepts Neteller – you can read our reviews to learn more about the best bookie sites
- Go to the bookies deposit/cashier/banking section
- Select Neteller from the list of payment options available
- Enter your Neteller user ID and password
- Enter the amount of money you want to load to your online betting account
- Click through to complete the transaction
That’s it – you don’t need to give your banking information or credit card number to the online sports betting site, or store any of your financial information in your betting account. Neteller acts as a middle-man to facilitate the transaction smoothly and securely. Best of all, Neteller deposits are processed instantly so you can start placing bets on sports and racing events right away.
Who can use Neteller for online deposits?
Neteller caters to punters from most countries, excluding the following:
- Korea (North)
- South Sudan
Deposits are available in 26 currencies, including USD, EUR, GBP, AUD, BRL, CAD, INR, DKK, JPY, MYR, NOK, MXN, TWD, TND, SEK, ZAR and more.
Online sports betting sites that accept Neteller
Neteller is accepted at several of the world’s top-rated sports betting sites, including one of our favourites, Bet365. Bet365 offers an enormous online betting market which caters to punters in over 200 countries. You can use Neteller to fund your account and place bets on horse racing, football, basketball, rugby, baseball, UFC and so much more.
Is Neteller a good choice for online sports bets?
Like any online payment service, Neteller offers its good and bad points. Most importantly, Neteller is an ultra-secure payment provider, with safety being at the forefront of its services. Because of this, it is a great option for players who are wary about handing over credit card or bank account information to online bookmakers, or who are generally concerned about making financial transactions over the Internet. Using Neteller means you never have to reveal your payment details to the bookie, eliminating any concerns you may have about your banking information falling into the wrong hands. Our top-rated sports betting sites are all protected by a bare minimum of 128-bit SSL (secure socket layer) digital encryption security, so using Neteller adds an extra layer of protection.
The downside to Neteller is that some hefty transaction fees apply if you want to use Neteller to withdraw your winnings, which is a major deterrent from using this service. Our editors have tested Neteller and were shocked to find $15 fees attached to a simple, small withdrawal, on top of additional fees charged by our bank for processing the Neteller transaction. While this won’t be a big deal for high rollers, those who only want to make modest withdrawals will feel the wrath of those processing fees pretty heavily. Therefore, we only recommend cashing out using Neteller if you can afford the fees attached without it leaving a bad taste.
Alternative online betting deposit methods
Not all trusted online bookies accept deposits using Neteller, so you may have to consider your options if you were set on depositing with this Web wallet service. Thankfully, there are plenty of other trusted payment methods available that offer the same convenience and protection as Neteller.
Skrill is an e-Wallet service that’s widely accepted by online sports betting sites, and as a direct rival to Neteller, Skrill offers a great alternative. The service is very similar, with only a few differences in the fees and cash transfer methods.
If Web wallets aren’t your thing, there are plenty of other choices available, including credit cards, debit cards, direct bank transfers, pre-paid cards like Paysafecard and Flexepin, or online payment services like POLi, PayPal, iDebit and many more.
For a full list of the deposit and withdrawal options offerd by your chosen sports betting site, head to the FAQ section or sign up for an account and go to the cashier section to see what payment methods are available to punters from your country.