Skrill (formerly known as Moneybookers) is a good way of funding an online sports betting account. For those who are depositing and withdrawing a lot, which would lower the total fees associated with this, and for those who live in a place that does not allow deposits to online gambling portals. Using an ewallet is a good way to fix these issues.
Using Skrill as your ewallet is a good alternative to our preferred ewallet option in Neteller. They both work about the same where you get your ewallet which is of sort an online bank account, which you can fund using your preferred payment option and from then on transfer money in and out of sportsbooks freely. The only real difference is concerning the banking fees.
HOW TO CREATE A SKRILL ACCOUNT
Head over to www.Skrill.com to get your ewallet. Proceed with signing up by choosing a personal account. From here on you simply fill in the required forms and click signup. Remember to double check all your input as you cannot change things after you have created your account. Especially your preferred currency. This can add a lot of unnecessary fees if you have a different currency in your Skrill account and sports betting account, you will have added charges to your transfers.
Before you can use your Skrill account you need to verify a different set of details that you have provided. First there is the email verification. This is simple where Skrill sends you an email with a verification link you have to click so Skrill knows it is your email account. Next is verification of your postal address. You will be sent a 6 digit code by mail that you need to enter in your account. This is for security measures and also to allow you to increase your deposit and withdrawal limits.
After you have done these two verification steps, you can also verify a bank account or verify a credit card (or both). For the bank account verification you need to provide a SWIFT code from your bank of choice. If this cannot be provided, you need to request a form that you send to your bank to fill out. This might take some time, but is worth if you plan to use Skrill for some time. If you decide on your credit card to begin transactions immediately you will have higher fees, but if you are simply transferring some smaller amount while you wait for the bank verification to come through that is fine.
FUNDING YOUR SKRILL ACCOUNT
You can transfer funds to your Skrill account using the most popular payment processors like VISA, MasterCard, Bank Transfer and many others. However, there are fees attached to the funding methods, and these vary depending on which you choose. Here is a list of the most popular ones and the fees attached:
VISA – 1.90%
MasterCard – 1.90%
Maestro – FREE
Bank Transfer – FREE
Cheque – FREE
AmEx – 1.90%
The preferred depositing methods should be Maestro, Bank Transfer or Cheque (if you are from the 80’s). These all are free and you can deposit 100% of your funds in your account. The only downside to using these depositing methods is that the funds might take some time to reach your account. If you want to start betting immediately you could use one of the other options.
When you have gotten funds into your account, you can deposit at most of the betting portals only using your skrill account. There is a 1% transaction fee associated with sending money to a betting site. This is capped at €10 though, but if you are expecting to transfer funds a lot between different bookies, these fees can eat up a lot of your bankroll.
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