Skrill Betting Guide: How to Make Deposits and Withdrawals
Skrill is one of many eWallet options for making private, secure, fast online payments. When it comes to online sports betting, you can use it to manage your funds in one place, keep them separate from your bank account, and easily accessible at any time.
You can use your account for deposits and withdrawals, and while fees are not always levied, some of the best Skrill betting sites charge a fee. It's therefore essential to check first. Something else to remember is that you may have to pay a service fee.
A Skrill account is free of charge if users log in and make a transaction at least once every 12 months. Otherwise, a small service fee will be deducted monthly from the account.
How to Make Skrill Deposits
Skrill is an eWallet payment method specifically designed for the online gambling industry, as you'll see on the Skrill website.[2] The idea behind Skrill is that you've got a central wallet that acts as a secure staging area for your bankroll. Use it to fund your online sportsbook, and you don't have to reveal your banking information.
In addition, Skrill offers loyalty rewards such as cash, special online betting offers, and even tickets to sporting events. As a customer, you'll also receive a prepaid Visa card that connects to your balance for in-person purchases and cash withdrawals from betting sites that accept Skrill.
Making deposits at Skrill betting sites is straightforward. However, before making a deposit, check the sportsbook's terms and conditions as some charge fees for using Skrill.
Here is how to make deposits at an online sportsbook that takes Skrill:
- Create a Skrill account if you haven't already got one.
- Add funds to your Skrill account.
- Choose a sportsbook that accepts Skrill.
- Visit the sportsbook's cashier page and click the "Deposit" or "Add Funds" button.
- From the drop-down menu, choose Skrill as your payment method.
- You'll be redirected to the Skrill website where you can log in.
- Review the transaction details and click "Confirm"
Your deposit should arrive in your account within minutes. From that moment, you'll be ready to place your bets. You can add money to your Skrill account in various ways, including ACH bank transfer, wire transfer, credit card, debit card, and Paysafecard.
While Skrill might be a relatively new payment method in the US, it's been processing online gaming transactions for over two decades worldwide. In states where online sports betting is legal, this provider holds all the necessary licenses to offer its services to legal sportsbooks. Skrill is also licensed with FinCEN as an authorized money service business.
How to Cash Out Your Winnings with Skrill
Cashing out your winnings at betting sites that accept Skrill is equally simple. Repeat the process by heading to the cashier and selecting the Skrill withdrawal option. You must sign in with your Skrill info again and select how much you want to transfer back to your wallet.
You have the option of keeping the funds in your Skrill account, where they are protected and secure, or withdrawing them from your wallet. This is also easy - just log into your Skrill account and follow the instructions. The process will be smooth if you've linked your wallet to a bank account.
Here is how to cash out your winnings at an online sports betting site that takes Skrill:
- Log into the sportsbook of the month or another recommended site.
- Click on the tab to visit the cashier.
- From the dropdown menu, choose Skrill as your preferred withdrawal method.
- Enter the amount you wish to withdraw.
- Check the details and click "Confirm".
- Wait for the online sportsbook to process your request.
- You can leave the funds in your Skrill wallet or transfer them.
Once the Skrill sports betting site has approved your withdrawal request, you should see the funds in your Skrill account within a few days, depending on the platform's processing time. In some cases, it could be instant. Although some sportsbooks apply a mandatory processing or pending period on all withdrawals, often 24-48 hours.
Depending on the betting site, your cash-out request may attract some fees. Typical fees include a flat fee for withdrawals to a bank account or a percentage fee when withdrawing from Skrill to Visa or withdrawing cash at an ATM using your Skrill Prepaid Mastercard.