Last Updated on 23/09/2022
Fact checked by: Noah Ezra
Ever wanted to deposit money into a betting site in Australia, but weren’t sure what the best payment methods are for doing so? We’ve created a handy guide that can give you a good overview as to the most popular and secure deposit methods for betting in Australia. This should mean that you can go to any of the best betting sites in Australia and fund your sports bets in a safe and efficient manner.
We’ll show you how eWallets, credit cards, bank transfers and even cryptocurrencies can all have their pros and cons when it comes to trying to deposit money into a betting site in Australia. From the speed it takes to add money to your account to the limits that will be put on your deposits, it can all have a significant impact on your sports bets.
It’s all part of our online betting guide for Australia that aims to help you with some of the more overlooked parts of sports betting. So, whether you want the answers to questions like ‘what is Asian handicap betting?’or ‘what is 1×2 betting?’, or want to know how bookmakers make money, then you will find it all here at Wetten.com.
While you might ask ‘which bookmaker is best for beginners in Australia?’, it’s also worth thinking about your payment methods. Whichever deposit methods for betting in Australia you use, it can all have an impact in how you go onto enjoy your sports bets.
This is because all deposit methods will take a certain amount of time to land in your account. Some deposits will be carried out almost instantly, while others could take anything up to three working days or more.
Similarly, some deposit methods will have their own limits. These can be imposed by the payment brand or by the bookmaker, and it means that your deposits could be limited to $200 or extend up to hundreds of thousands of dollars.
We should also note the fact that when you deposit money into a betting site or betting exchange in Australia, you will be giving a bookmaker access to your sensitive financial information. As a result, it’s important to think about which deposit method exposes you to the minimum amount of risk.
If you ever find that a bookmaker has not been handling your deposits in a way that you find satisfactory, then you can check out one of the most helpful guides to bookmaker complaints Australia has to offer at the moment.
Nearly all Australian bookmakers will allow you to make your deposits with a credit card. This is probably the most common payment method as it offers the customer plenty of security. Plus you will be able to enjoy virtually instant deposits, and there will also be high deposit limits so that your sports bets won’t be inhibited.
If you take a look at our shortlist of the best betting sites with credit card, you’ll see a massive range of bookmakers. From homegrown Australian bookmakers to some legendary European betting sites, they will all be more than happy to let you make your deposits with a credit card.
We should probably note the fact that some card providers may add some small charges whenever you make deposits to a sports betting site. While these might not look like they amount to a lot, they can all gradually carve a hole in whatever profits you make from your sports bet.
Despite this, it’s clear that using credit cards like Visa or MasterCard remain one of the most popular ways to fund your sports bets. So, if you are looking for a fast, safe and convenient way to make deposits at a bookmaker’s site, be sure to use a credit card.
More and more Australian sports betting sites are starting to accept deposits with eWallets. These give you quick and convenient ways to pay for goods and services online, and it’s little surprise to find that they would be a big hit in the sports betting scene.
You can either link your eWallet to your bank account, or make payments to your ewallet, and then go onto make the deposits to fund your sports bets.
Using eWallets also gives you plenty of security benefits. Not only do you not have to provide bookmakers with information like your credit card number, but it’s also a nice way to keep your betting budget separate from your regular funds.
If you’re looking for a good example of an ewallet, it’s hard to ignore the global popularity of PayPal. This eWallet service has been with us for nearly 20 years and we can help you find the best betting sites with PayPal in Australia. While not too many bookmakers facilitate this payment method, the ones that do will ensure that you can make speedy and free PayPal deposits.
We’ve noticed that eWallets such as Neteller and Skrill have also become popular at a good amount of sports betting sites. These offer you instant deposits that should have respectable deposit limits, although you will incur a small fee when you send money with these eWallets.
Take a look at the best betting sites with Neteller in Australia, and the best betting sites with Skrill in Australia to see how to use these eWallets for your sports bets. We should also note that EcoPayz is another eWallet that’s growing in popularity, and we’ve assembled a list of the best betting sites with EcoPayz in Australia here.
Some sports fans will prefer to fund their sports bets through making an old-fashioned bank transfer. Even many of the new bookmakers will accept bank transfers and you can see a selection of the best betting sites with bank transfer in Australia right here.
But before you rush to make a bank transfer for your sports bets, it’s worth noting that some banks might charge fees for deposits at bookmakers’ sites. Plus some bank transfers may take around three working days for the funds to show up in your betting account – not ideal if you’re looking to put down a bet on today’s NRL or AFL matches.
However, we should note that many Australian bookmakers will allow you to make a bank transfer via the POLi system. This allows you to make almost instant deposits and what’s best is that it can be used completely free of charge.
Most Australian bookmakers will usually just allow you to make deposits with credit cards or bank transfers. However, at some betting sites you won’t just be able to enjoy using eWallets as you might find other payment methods available.
For example, many sites will allow you to use the BPay electronic bill payment system. This offers plenty of security, but you might find that you can only make deposits from quite high amounts of around $50, plus you’ll probably only get the money in your betting account after a few business days.
You might also see some betting sites that allow you to use prepaid cards like Paysafecard to fund your sports bets, and there’s even been the rise of some sites that will even take Bitcoin payments.
While this is still a niche market, we can show you the best betting sites with Bitcoins in Australia, so that you can take advantage of the fast, safe and anonymous service that this cryptocurrency provides.
However, we should note that some of these Bitcoin betting sites might not be fully licensed which is something to consider before you sign up to their services. If you’ve got any questions like ‘is online gambling legal in Australia?’, we’ll make sure that you get the answers you need to enjoy licensed and legal sports betting.
Betting on sport means knowing how betting odds are calculated and it also means that you will have to give a bookmaker access to your money in the form of deposits. As a result, you’ll have to think carefully about which payment method offers you the greatest amount of security.
After all, while a strategy for the best no risk matched betting Australia has to offer might give you guaranteed wins, it’s pretty useless if your finances are insecure.
All of the payment methods described above will offer you high levels of security. This is because they enable you to make deposits through secure channels where your information will be stored behind a firewall. In addition to this, the betting sites will ensure that they feature browser encryption to keep your financial information stays in safe hands.
However, it’s important to note that many punters prefer using eWallets and prepaid cards as they can be used by entering your username and password. This means that you won’t have to type in anything like your credit card number or bank account details, and therefore these payment methods are thought to offer an extra level of protection.
Unless you have your heart set on making a bank transfer to fund your sports bets, you should be able to use all other payment methods to make instant deposits at most bookmaker websites in Australia.
This means that you should get the freedom to use credit cards, eWallets and even prepaid cards to put money in your betting account and look forward to using it almost immediately. However we should note that all decent bookmakers will aim to verify your account before they allow you to make withdrawals of your winnings.
So, to make your instant deposits, you’ll just need to sign up to a betting site. It should just take a couple of minutes to enter in personal information such as your name, address and date of birth in the registration process.
Once you’ve done this, you’ll be able to pick a payment method for making your deposits. As long as you choose to use a credit card or ewallet rather than a bank transfer, you should look forward to making your real money sports bets almost immediately. We should also note that you can use POLi to make almost instant deposits directly from your bank account.
Depending on which payment method you use, you’ll find that different bookmakers have different minimum and maximum deposit thresholds. Some Australian bookmakers will allow you to make deposits from a minimum of $5 at a time, while other betting sites will demand that your deposits must be upwards of $20.
When it comes to the maximum amounts that you can deposit, it will usually depend on the payment method that you use. If you want to use a credit card or bank transfer to fund your sports bets, then you’ll probably find that you can deposit thousands of dollars at a time.
However, if you plan to use an eWallet or prepaid card for making deposits, then the maximum deposit amounts could be significantly smaller. Despite this, you should still be able to deposit hundreds of dollars at a time with nearly all of the payment methods described above.
All bookmakers will prefer to pay you your winnings back to the payment method used to make your deposits. You’ll probably have to bet the value of your deposits at least once before you are allowed to make a withdrawal – definitely something to consider alongside getting the answer to questions like ‘how does cash out betting work?’.
Betting sites do this to avoid issues such as money laundering, and it also helps to speed up the withdrawal process as you won’t be required to provide any more personal identification for customer verification.