Australians can easily fund their online bookmaker accounts with a variety of safe deposit options, including credit and debit cards, Paypal, POLi and bank transfers.
These deposit options will vary slightly from Australian bookmaker to bookmaker, with some featuring a handful more deposit options, while others will have less ways to add money to your account.
This article will run you through all the common ways Australians can fund their betting accounts, plus recommend bookmakers to gamble with, and most importantly ones that use the highest standards of banking security.
Bookmaker banking – the common ways to deposit AUD
Ok, so you have signed-up with your online bookmaker and you are ready to claim your free bet bonus – now all that is left to do is to deposit some cash into your online betting account.
But just how do you get money to them in a safe and secure way? These days there are plenty of alternatives to credit and debit card deposits, although these are still the most popular form of gambling deposit.
While each bookmaker offers slightly different options in regards to depositing funds, we are here to make it easy for you by explaining the simplest, easiest and safest ways to transfer money from your bank account to your online betting account.
Credit/debit cards: You can’t go wrong with this method and it is the most commonly used way of depositing funds into most people’s online betting accounts.
When using globally recognised brands such as Visa or Mastercard, your deposit is processed instantly, meaning you can start betting straight away. The best Visa betting sites for horse racing are pretty much all online bookmakers, with very few betting sites in 2020 not accepting payments with the world’s most popular credit and debit card.
Additionally, online bookmakers do not charge any transaction fees (although depending on your bank you may be charged with a small cash advance fee).
To deposit funds, simply choose the ‘Debit/Credit Card’ option on the website or app you are using. You will then be asked to enter your card number, account name, expiry date and CCV number as well as the amount of cash you wish to fund your account with.
Once all your details are entered, all you need to do is click deposit funds and you are instantaneously able to start betting on the racing or sporting event of your choice.
Bank Transfer: For punters who do not have a credit or debit card, all of our recommended online bookmakers also offer bank transfer as a suitable method of depositing funds.
It is a secure method, with money sent directly from your bank account to your online betting account, however it can take anywhere between two and 10 days (although it is generally the next business day).
Because it takes a while for the cash to appear in your account, this is not as popular as using a credit or a debit card to deposit funds, however it is especially suitable for transferring large sums of money into your betting account, with some of the other deposit options capped at a certain amount.
Unlike credit/debit card transactions, bank transfers are completed within the website of your chosen banking website which does give many punters a greater sense of security.
To complete the transfer, you must obtain the account information of your chosen bookmaker from its website and process it like a normal internet banking transaction.
Some bookmakers, such as Sportsbet, also enable punters to go directly into a chosen bank (such as the National Australia Bank) and make a cash deposit at their local branch.
PayPal: PayPal offers a safe way to transfer funds online, with users creating an account via the company’s website. From there your bank account, credit and/or debit card are linked to your PayPal account where they are securely stored.
PayPal users can deposit funds by selecting this option on the bookmaker’s website, with the bookie requiring your PayPal email and your betting account password, with deposits processed immediately when you hit send.
Because it is linked to your bank account, your PayPal account does not need to have a monetary balance, while security issues are non-existent as PayPal does not share your financial details with bookmakers, whilst it also provides industry-leading fraud protection.
POLi: This is a method of instant bank transfer and it is available to online punters in Australia and New Zealand. Short for Pay OnLine, it is a real time debit system which is able to deposit funds into your online betting account instantaneously.
It is both confidential and secure, with transfers occurring through the website of each bookmaker. Once on the deposits page, customers select their banking institution, enter the deposit amount and their password before confirming the payment.
Conveniently, you do not need to have an account with POLi, while it is also free with no credit card surcharges or booking fees. You can process POLi payments from your PC, mobile and tablet.
E-Wallets: This is the perfect option for punters who wish to deposit money into their online betting account without sharing any of their personal details with the bookmakers themselves.
To use this method, all you need to do is create an account with one of the e-Wallet websites supported by your chosen bookmaker which you then transfer funds into from your bank account (usually from your credit or debit card).
Once the cash is in your e-Wallet, you can then transfer it across to your betting account.
One of the most popular forms of e-Wallets is Neteller. Regulated in the UK, Neteller works by creating a one-time only card number each time customers transfer money into their Neteller account. Once the cash is in the Neteller account, this information can be used in much the same way as a normal credit/debit card to transfer funds into your betting account.
Pre-paid vouchers & credit cards: Pre-paid vouchers and credit cards are a great method of depositing funds if you do not feel comfortable sharing your bank or credit card details online. Two of the most trusted companies to choose from are:
PaySafeCard: This is an electronic money system which enables punters to exchange their money for a secure and unique 19-digit code which can then be used online to instantly deposit funds into your bookmaker account. PaySafeCard vouchers can either be purchased online or from a participating retail outlet near you.
Entropay: Some bookies accept Entropay as a method of depositing funds into your online betting account. Entropay is a virtual pre-paid Visa card which can be funded via bank transfer, your standard credit or debit card or at many service stations and selected retail outlets. Deposits via Entropay are instant and free.
Cheque: If you are not happy with any of the above options, it is also worth checking out if your chosen bookmaker accepts cheques as a way of depositing money into your account. This is not a very common method as it can take up to 28 days for the funds to appear in your account once your cheque has been cleared.
With such a wide variety of options when it comes to transferring money into your betting account, there is a way sureBoo to suit everyone’s needs.
Once you have completed your transfer and the funds have appeared in your account you will be able to view your balance, redeem your free bet offer and start punting.
Best bookmakers for betting on horse racing
Choosing which bookmaker to bet with is not an easy task – sometimes it seems like there are more bookies out there than punters.
However, this can also be an advantage, with many online bookmakers offering sign-up bonuses which can more than double the amount of money in your betting account prior to placing your first wager.
Our best advice is to set up multiple betting accounts – not only does this enable you to take advantage of each of their special offers – but it also enables you to shop around and find the best odds for each particular event.
Our recommended online bookmakers and their sign-up deals are as follows:
Sportsbet: One of the most recognisable brands for online gambling in Australia, you can claim up to $500 to boost your betting account upon making your first deposit.
Bet365: Bet365 will match your first deposit up to the amount of $200, while they also encourage punters to use their new platforms of betting on your phone or tablet, giving punters a 100 per cent bonus up to $100 when making their first bet from their mobile device.
Luxbet: Backed by Tabcorp, you can get $150 in bonus bets upon depositing $50.