Neteller ranks as one of the largest e-wallets worldwide. This payment method has made e-commerce a simple affair, with users now able to make purchases online. The online sports betting industry is also a major beneficiary of this e-wallet, with many betting sites listing Neteller as an available payment method.
Top Neteller Sportsbooks of 2020
These are the best sportsbooks that we recommend as of 2020 based on bonuses, odds and overall betting experience:
- Neteller & US Players Accepted
- Promo Code: BOL1000 (Minimum Deposit: $55)
- Neteller & US Players Accepted
- Promo Code: SB1000 (Minimum Deposit: $25)
- Neteller & US Players Accepted
- Promo Code: ROOKIE100 (6x Rollover Requirement)
Having started operations in 1999 – Paysafe – Neteller’s parent company, began by establishing a platform that allowed individuals to send and receive money online, with the exception of Europe. Nevertheless, the company is now a global player with operations in over 200 countries allowing both businesses and individuals to send and receive money.
As online gamblers and sports betting fans, you can rely on this service to send and receive money from online sportsbooks in a fast, simple, and secure way. Not surprisingly, this translates into higher popularity for the e-wallet. As a result, Neteller betting sites are increasingly popular among sports bettors.
In this review, we dig into the ins and outs of Neteller as an online sportsbook payment method and see if it suits your specific betting needs.
Legal Situation and Security
In terms of security, players can rest assured that Neteller is one of the most trustworthy and secure e-wallets in the industry. First off, their security systems undergo frequent upgrades to ensure they have adequate safeguards against common and newly-emerge frauds and scams.
There are two ways Neteller combats fraudulent activities. One is through BIN/IP check. With this, the client’s IP addresses will be analyzed to restrict fraudulent logins. The second method is by asking the customer to provide some form of ID.
Further, the site implements 256-bit Secure Socket Layer (SSL) technology which blankets all information shared with the site. Lastly, Neteller has the blessing of the UK Financial Conduct Authority (FCA), which means they are compliant with all regulations.
When it comes to the legal environment, federal and state laws will apply. This means your area of residence will determine whether you can use Neteller for local and international gambling. Still, its presence in the US didn’t come without its fair share of challenges.
The most devastating being the passage of the UIGEA in 2006 that saw Neteller exit the US market. Nevertheless, they made a comeback in 2014 and secured its place in the market again. This saw the company make inroads in states such as Pennsylvania, Delaware, New Jersey, and Nevada where online gambling is legal and regulated.
Benefits on Betting Sites
- Fast deposits: Neteller offers one of the fastest deposit options for online sports betting. In fact, bettors should expect funds to reach their online sportsbook account almost instantly. This way, you don’t have to miss your favorite event because of delayed transfers.
- Safe and secure: Neteller protects your credit card and no one will be able to know what you spend your money on. Not all people want their card ID to be visible online, especially for those who like gambling. This deposit method serves as a ‘digital shield’ so that nobody can access your card ID.
- Convenience: Neteller allows you to make deposits and withdrawals rapidly and conveniently. Also, most online sports betting sites accept Neteller as a payment method. The best part is you perform transactions from the comfort of your mobile phone as long as you have an internet connection.
- Several funding sources: As a gambler, you want multiple options at your disposal so you don’t miss a betting opportunity. In this case, you want to be able to make deposits from Another really nice aspect of Neteller is the fact that you can use multiple sources to make a deposit into your account.
One of the ever-growing and popular payment options is Bitcoin. This banking method has become an increasingly-popular cryptocurrency, especially with online sports bettors who are taking advantage of its ability to use it as a global currency. You can now use this cryptocurrency to make a deposit into your Neteller account.
Note: There may be additional fees associated with making a deposit via Bitcoin and Bitcoin itself may actually charge you separately, but the added security is worth its weight in gold and extremely valuable to keep all your funds safe and off-limits to third-parties. You can never be too safe insofar money is concerned.
- Neteller rewards: Gamblers who use Neteller as their preferred payment method get a chance to accrue points every time they perform a transaction. Later on, you can redeem these points for cash and other gifts.
Disadvantages for Online Gambling
Each method has its flaws, so does Neteller. Despite being one of the most popular payment options for online gambling, there are several factors that upset bettors. Here are some of the downsides of Neteller betting sites:
- There are fees: Yes, it is not entirely free. There are fees for most transactions using Neteller. If your transaction uses a different currency, there is a 3.99% conversion fee. Neteller serves as many as 17 foreign currencies.
- Registration and some actions: Setting up an account is actually simple. Nevertheless, there have been some complaints about Neteller’s prolonged process when setting up an account.
Setting Up an Account
Setting up a Neteller account is (almost) painless and easy. First, you need to visit www.neteller.com and completing a general form, that is no different than setting up any other account.
They will ask you for your name, address, date of birth, banking information and account number to get your account set up. Once you complete the form, you’ll be sent an email to verify your information and email address.
Once you verify your email, you will notice that your account is temporarily blocked. This is because you need to verify some additional information and provide Neteller with the necessary verification documents that they request. That’s the slightly annoying part, but it’s absolutely necessary to make sure your funds are safe. You will need to provide them with the following documents:
- Front and back of your driver’s license
- The photo page of your passport
- Front and back of your national ID card
- Address verification document
- Face match/selfie picture of your ID
You do not need all of these items, just one that is approved and can be clearly seen. There may be other aspects required before making a deposit on Neteller after your account has been verified.
How to Fund Online Gambling Accounts Using Neteller
After setting up a Neteller account and verifying it through the verification link sent to your email, follow these steps to fund your online sportsbook:
- Log into your sportsbook account: Before doing this, you may want to go through the betting sites that accept Neteller and choose a trusted platform from the list above. Afterward, sign up or log into your account and move to the next step.
- Navigate to the cashier: This option is under the main menu and it’s here that you’ll need to choose a deposit option. In this case, choose Neteller.
- Enter your bonus code: This is important, especially if you’re a new player. There’ll be a bonus tab if the sportsbook offers deposit bonuses. From there, you can choose from multiple bonuses but ensure you read and understand all the details.
- Provide your details: Neteller has made it easy for gamblers to make deposits at their online sportsbooks. You no longer have to remember complex codes, instead, you only need to remember your account ID and security code.
How to Withdraw from Neteller
Here are three simple steps to guide you through the withdrawal process:
- Head over to the payment page: Check whether your online sportsbook accepts Neteller withdrawals. If it does, proceed to the payment page. It’s perhaps important to check the availability of Neteller withdrawals before you deposit.
- Choose your preferred withdrawal method: Under the cashier option, you’ll need to select Neteller as your withdrawal method. Afterward, you’ll need to enter your credentials to proceed.
- Specify your withdrawal amount: This is the final step and you’ll be required to specify the amount of money you want to withdraw. Once you’re satisfied, authorize the transaction by hitting the submit button.
Typically, withdrawals with Neteller take a minimum of 2 hours up to 24 hours for the money to reach your Neteller account. Nevertheless, you must understand that the transfer times will depend on the sportsbook’s internal systems.
Net+ Prepaid MasterCard
To give you a sense of just how successful this payment method is, the Net+ Prepaid card scooped the Best Online Gaming Card of the Year in 2014. The marriage between Neteller and MasterCard gave users the ability to make online purchases either in person or through a Neteller, credit/debit card.
Also, you can make withdrawals straight from the ATM and use the money anywhere you want. The best part is it’s free to make purchases in restaurants, online and physical stores. Nevertheless, there are certain fees you may incur each month.
Neteller’s VIP Structure
For gamblers that want to be treated like the special customers they are, Neteller has a comprehensive VIP system. For starters, all VIP members will enjoy lower fees when depositing and withdrawing funds.
Further, Gold, Platinum, and Diamond VIP members will enjoy higher limits on both withdrawals and deposits. It doesn’t stop there because VIP members will benefit from next-level customer service with each VIP member getting a dedicated manager whose main job will be to handle all your issues at a personal level. Even better, these managers will be at your disposal 24/7 and in your preferred language.
To top it all off, Neteller has a reward scheme where customers earn points each time they transact and you can redeem them for cash. The benefits are twice as much for VIP users because every year they remain members through the annual Reward Point Bonus.
PayPal vs Neteller: Which One Is Better?
PayPal has been recognized worldwide as one of the safest payment methods. Everyone knows about it and uses it but what about Neteller? Neteller may not be as popular as PayPal but in terms of gambling purposes, more betting sites accept Neteller than PayPal. Most sports betting sites don’t accept PayPal, except some of the highest-rated online sportsbooks that operate exclusively in a whitelisted jurisdiction where sports betting has been fully legalized.
On the other hand, many betting sites accept Neteller. The best part is that Neteller offers an exclusive VIP program for loyal users, something PayPal doesn’t have.
Neteller even offers a 1 percent fee on foreign currency transactions for VIP members. Other perks for VIP customers are lower deposit fees. That’s why bettors prefer Neteller-supported online gambling providers to others using a non-Neteller method.