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Neteller operates as an e-money transfer service, which has been in existence since 1999. It’s one of the very best e-wallets that is available to online bettors to use for depositing funds into their chosen sportsbook. Over the years, e-wallets have become a lot more utilized for sportsbook activities. The company has grown considerably since its inception, allowing gamblers to successfully transfer money into their betting accounts without exposing any bank or card details to them.
It is one of a few different e-wallets, but it is also arguably the most-known for online betting purposes. Starting out in Canada back at the end of the ‘90s, it moved to the Isle of Man in the year of 2004, and in 2015, the brand took over the Skrill Group – one of its main competitors in the e-wallet industry. Neteller has actually been processing online gambling payments since July of 2000. At this time, it processed about 85% of payments from the world’s gambling merchants, and roughly 95% of its own revenue came from such transactions. So, you can see how big it is in the gambling world in general.
Let’s find out more about it.
While Neteller may not be the only e-wallet in operation out there, when it comes to the gambling world, it’s certainly the biggest. So, while it doesn’t particularly offer anything especially unique in comparison to others, it has the advantage of being perhaps the most-known e-wallet out there.
The biggest thing that stands out about Neteller (and all other e-wallets, for that matter) is the fact that it provides a safer and more secure method of transferring funds into your sportsbook account. This is because the transaction won’t expose any personal details to the platform, as is the case with credit card or bank transfer deposits. Because you only input your Neteller ID and password when using it to deposit, your funds come directly from the Neteller wallet, rather than from a card or bank. Again, this isn’t something that is specifically unique to Neteller but is something that pertains to all e-wallets.
So, how exactly do you proceed with making deposits by using this e-wallet? Well, it’s actually quite a simple process to go through. First of all, you will need to open a free account through the Neteller website. This requires you to enter a few details, including your name, email address, country of residence, and the currency that you would like to use your Neteller account in. Keep in mind that when selecting this, you cannot change the currency at a later date. The registration process only takes a couple of minutes, and you can then move on to funding the e-wallet.
Adding money to your Neteller wallet is also an easy process. To do this, you can make use of several different payment methods, including Visa and Mastercard credit and debit cards. You’ve also got the option of using alternative payment methods, such as AstroPay, CartaSi, iDEAL, Paysafecard, Maestro, and even the Bitcoin cryptocurrency. Additionally, you can add funds through a mobile device by using Boku Pay by Mobile. It’s quite a diverse e-wallet for funding, so it supports various payment methods that are well-known throughout the world. Something to keep in mind when it comes to adding funds to your Neteller wallet is that just about all methods have a transaction fee to pay, but we’ll get to that in a short while.
After you have uploaded funds to your e-wallet, you can proceed with making a deposit into your chosen sportsbook account. Simply log into this and then navigate across to the cashier page. Now, when you created your Neteller wallet, you would have been given an ID number, and you would also have set up a password. These are the only two pieces of information that you need when it comes to depositing at your chosen sportsbook. So, when you’re on the cashier page, select Neteller from the drop-down menu, and the login details for this will show up.
Those login details are the wallet ID and the password that we just mentioned, so you need to enter these and then input the amount of funds that you would like to transfer. Then, just hit the confirmation button, and the transaction will take place instantly. This means that you should also see the funds in your balance as soon as you complete the transfer. So, you can start placing bets as soon as this is over.
So, we made mention of certain fees that need to be paid when you’re uploading funds to your Neteller account. Now, these differ between the various payment methods that you can use to fund your account. They can be as low as 1% of the transfer amount, but they can also go up to highs of 45%.
Certain payment methods don’t come with any transaction fees, though, starting with the international bank transfer option as well as the local bank deposit, too. Some of the lower payment percentages are the 0.5% that is charged on a rapid transfer, 1.95% on a Trustly upload, and 1% on a Bitcoin transaction. In stark comparison, you’ll see that a huge percentage of 45% exists on Pay by Mobile transaction by Boku and 8% on Yandex transfers. The best thing to do with this is to look at the “Fees” section of the Neteller website. This way, you can figure out which payment method works best for you when uploading funds to your Neteller account.
Now, the remaining question is, do you have to pay fees on transactions from your Neteller account through to your chosen sportsbook account? Again, the answer to this really depends upon the sportsbook that you’re using. Sometimes, there will be a small percentage charge on the deposit that you’re trying to make. However, one of the reasons that Neteller is used by so many people is because often times, it doesn’t have additional fees to pay on top of the deposit. Therefore, the likelihood is that if you use Neteller at a sports betting site, you won’t have extra charges to pay with it.
There has to be a bunch of reasons why Neteller works as the preferred payment method of several online sports bettors, right? Well, there are a few of them, yes. To begin with, it provides an instant transaction for you. So, as soon as you complete the transaction at your chosen sports betting site, the funds will show up in your balance. This means that you get the chance to place bets on your favorite sports straight away. There’s nothing worse than making a deposit and then waiting for it to become available for betting with. With Neteller, this won’t be a problem.
Secondly, the fact that it’s a more secure method of depositing makes for another advantage to using it. Because you’re not sending any of your personal or banking details to the sportsbook, you’re not exposing anything to other people. You basically fund your Neteller account with your preferred payment method and then use that to send money elsewhere. That’s why it’s only necessary for you to input your wallet ID and chosen password when adding funds to the sports betting site. Security is a big factor for many online gamblers, so with Neteller, you’re getting a secure service to benefit from.
Something else that stands out about being able to deposit with Neteller is that you have the ability to fund your e-wallet by using one of multiple different payment methods. So, whether you’re a Mastercard user, a Paysafecard fan, or a bank wire transfer enthusiast, Neteller can cater to you in all these circumstances. We all like having choices, and Neteller certainly can provide you with these when it comes to uploading money.
There is a downside to the uploading of funds, though, and that’s the fact that the vast majority of these methods do have a transaction fee to pay as well. So, while you may not have to pay anything when depositing funds to your chosen sportsbook, you’ll still have a fee in most cases when adding funds to the actual wallet itself. These are, in most cases, unavoidable. And while some do reach upwards of 10%, the biggest bulk of them are 5% transaction fees and below.
The only other thing that may put some people off of using the Neteller service is that you do, of course, have to sign up for an account. Additionally, you’ll need to provide certain identity documents to use the e-wallet at full capacity. Now, while this isn’t specifically something negative in the long run, it can be a little time-consuming in the very beginning. However, once your account is confirmed and verified, you can use your Neteller funds wherever the service is supported just by inputting your user ID and password.
Can I Also Withdraw Through Neteller?
Yes. Actually, once the sportsbook has approved your withdrawal, Neteller transactions usually provide some of the very fastest processes for withdrawing. It’s usually an instant transfer, meaning that the funds you’re taking out of your chosen sportsbook should appear in your wallet straight away.
What Do I Need to Do to Verify My Neteller Account?
To be able to verify your Neteller account, you need to send a copy or photo of one of the following documents: the front and back of your driving license, the photo page of your passport, the front and back of your national ID card, an address verification document, a face match/selfie picture of your identity. Once you verify your Neteller account, you will have access to higher limits and other depositing options. Plus, you have the possibility of applying for a Net+ Prepaid Mastercard.
Can I Use Neteller from My Mobile Device?
Yes, you can. In fact, there’s a Neteller app that is available for you to download to your device from the Apple App Store or the Google Play Store. Therefore, it caters to both iOS and Android users. You can use this to make payments from, to upload verification documents through, and initiate the uploading of funds to your wallet.
Once I’ve Withdrawn from My Sportsbook to Neteller, Can I Withdraw That Money to a Card or Bank Account?
There are actually several withdrawal methods available for you to use when it comes to taking money out of your Neteller wallet. These include transferring money to a Skrill e-wallet, transferring it to a Net+ Prepaid Mastercard, sending it via an international bank withdrawal, and sending money to your mobile phone. A foreign exchange fee of 3.99% exists in cases where the transaction involves changing currencies.
There are multiple reasons why Neteller has existed and remained as one of the world’s largest payment processors for online sportsbooks. One of them is no doubt the fact that it provides a more secure alternative to using credit and debit cards. It’s also an instant transaction that you get to benefit from, so there’s very little that takes away from using Neteller for such activities. Yes, you do have the issue of having to pay fees on most methods of uploading money to your account. Yet, for the most part, these fees are relatively low.
When you also consider that Neteller is usable at many online sportsbooks and that it is available in multiple countries and with several currencies, it’s also got a very high international appeal to it. Plus, being able to use it from a mobile device adds extra perks to it. Overall, we recommend using Neteller as a payment method for online betting. Speedy deposits, swift withdrawals, and the ability to keep your personal details secure all add up to make it a very appealing option to utilize.