For many sports bettors that use credit cards to make deposits and withdraws at online sportsbooks, they sometimes find it difficult, especially if they reside within the United States as policies and regulations prevent using credit cards for gambling and making deposits/withdrawals. This makes it very difficult to use a credit card for these actions without a third party company providing a service such as Neteller.
Neteller is a global provider of financial services and gives bettors the ability to use a credit card to make their deposits and withdraws to online sportsbooks. It enables a fast, simple and secure way to move money from your credit card to the online sportsbook, without worry of limitations from regulations.
Neteller is basically described as a online wallet that works as a shield or middleman between you and the online sportsbook. Let’s face it, no one wants anyone having access to your personal bank account information and by having a third party account, such as Neteller, it provides you with a safety blanket, shielding your personal information and funds from anyone else having access to it.
Benefits of Neteller for Online Gambling
Neteller is a safe option that protects your credit card. Not all people want their card ID to be visible online, especially for those who like gambling – this deposit method serves as a shield so nobody can access your card ID.
It is also practical. You can make deposits and withdrawals rapidly and conveniently. Also, most online casinos accept Neteller as a payment method.
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 popular options is the use of Bitcoin. Bitcoin has become an increasingly-popular cryptocurrency that a majority of online sports bettors take advantage of due to the ability to use it as global currency. You can now use this cryptocurrency to make a deposit into your Neteller account.
Be aware that there may be additional fees associated with making a deposit via Bitcoin and Bitcoin itself may actually charge you with a separate fee but the added security is worth its weight in gold and extremely valuable at securing your funds.
50% up to $1000
50% up to $250
100% up to $500
75% up to $1000
50% up to $1000
Disadvantages of Neteller for Online Gambling
Each method has its flaw, so does Neteller. Despite being one of the most familiar payment options for online gambling, there are several factors that upset bettors. Here are some minus points of Neteller:
- There are fees: Yes, it is not entirely free. There are fees for most transactions using Neteller. If your transaction uses different currency, there is a 3.99% conversion fee. Neteller serves as many as 17 foreign currencies.
- Procedure: The process is actually simple. But, there have been some complaints about Neteller’s prolonged process to set up an account.
Setting Up A Neteller Account
Setting up a Neteller account is painless and easy. Setting up an account is as easy as logging on to 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 mainly because you need to verify some additional information and provide Neteller with necessary documents that they request. 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 prior to making a deposit on that Neteller after your account has been verified.
How to Fund Online Gambling Accounts Using Neteller
If you want to use Neteller for online gambling, make sure you choose online casinos that accept Neteller as a payment method. Then, go to the selected sportsbook and click the Cashier section. Choose Neteller as your payment option and fill in the amount you wish to deposit. After that, you’ll just have to wait for your transaction to be processed, which usually happens within minutes.
It’s as easy as that. Even if you’ve never made an online gambling deposit with Neteller before, you’ll get the hang of it straight away.
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 Neteller? What is that? Yes, Neteller may not be as popular as PayPal. But for gambling purposes, Neteller is more familiar than PayPal. Most sports betting sites don’t accept PayPal, except some of the highest-rated online sportsbooks.
On the other hand, Neteller is widely accepted by most online sportsbooks. The best thing is that Neteller offers an exclusive VIP program for loyal users, something PayPal doesn’t have.
Neteller even offers 1 percent fee in foreign currency transaction 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 non-Neteller method.