Payment methods

What payment methods are available?

In today’s digital age, bookmakers and casinos offer players more and more ways to deposit and withdraw funds. Payment methods are an integral part of betting, and choosing the right one can affect the overall gaming experience. There are a variety of payment methods available, from traditional cash payments at retail outlets, bank transfers and payment cards, to modern electronic wallets and cryptocurrencies. Before we describe some of the payment methods, it is important to say what factors we should look at when choosing.

Important factors to consider when choosing a payment method

1. Security – When paying on the internet, it is important to pay attention not only to the payment method, but also to the online bookmakers and casinos themselves. You will only find safe organisations on our site, so we recommend that you read our reviews of each company before deciding where to play.
2. Speed – Most players consider speed to be the most important factor when choosing a payment method. There will be no shortage of options in this regard, as there are now several ways to deposit money almost instantly.
3. Convenience – Being able to withdraw and deposit money anytime, anywhere is a standard that many people have come to expect and cannot imagine betting without.

We will now look at some of the more common payment methods, including their advantages and disadvantages.

Branch office

You can still deposit cash into your account at Czech betting shops. To do this, you need to use a branch. Just go to the branch and tell the operator your first name, last name and username. The money is usually credited to your account immediately and the deposit limit is 5,000 crowns.

The advantages

• Simplicity – no need to have a bank account.

Disadvantages

• Low limit – the maximum limit is CZK 5,000 per 24 hours.

Credit Card

A common method of depositing is by credit card, which is one of the most popular and convenient payment methods.

Most common payment cards in the Czech Republic

• VISA
• MasterCard
• Maestro

Card advantages

• Quick and easy transactions
• Wide availability
• Usually no fee

Disadvantages

• Disadvantages may include less security than online wallets.

Bank transfer

Another very common payment method in the Czech Republic is bank transfer. Although it may seem a little outdated today due to the long processing time, it still has its advantages. These include unlimited deposits, e.g. at bookmakers such as Tipsport and Fortuna, no deposit limit for regular bank transfers and a limit of 999,999 crowns for fast bank transfers.

The advantages

• Widespread – this payment method is accepted by all Czech bookmakers.
• Usually no fee

Disadvantages

• Long waiting time – bank transfers are not that fast and usually take 1-2 days, e.g. Tipsport says 1 working day processing time.

Quick bank transfer

Every bookmaker in the Czech Republic offers a “fast bank transfer” option in addition to bank transfer. This option is slightly different for each bookmaker, but if you have an account with a specific bank that the bookmaker supports (e.g. for Tipsport these are Česká spořitelna, ČSOB, FIO Banka, UniCredit, Komerční banka, Moneta Money Bank, Raiffeisen and mBank) you can use a fast bank transfer.

Enter the amount you wish to deposit into your gaming account and click on the “Deposit” button. Internet banking will open for you, you confirm the deposit and the money will be quickly transferred to your gaming account.

The advantages

• High speed
• Zero fees

Disadvantages

• Lower deposit limit than a regular bank transfer.
• Limitation – your bank may not offer a fast online transfer.

Mobile Payment Services

Mobile payment services are another option for depositing at bookmakers. Among the most popular are Apple Pay and Google Pay. These systems allow you to load a payment card and then facilitate your online payments. You choose this option at the betting shop and then simply confirm on your device. This is a very convenient method which is free of charge at most bookmakers, payment is instantaneous and, for example, at Betano you can deposit up to 999,999 kronor.

The advantages

• Convenience – You don’t have to enter your details every time you make a deposit.
• Speed – money is loaded almost instantly.

Disadvantages

• Limitations – not all bookmakers support this option.

Electronic Wallets

Electronic wallets are an increasingly popular payment method on the internet. They work in a similar way to regular wallets. You can put money into an e-wallet and then use it to pay on the internet. This is their main advantage – the protection of your bank details.

When you pay with an e-wallet, you only share your bank details with the wallet operator, not with every website you shop at. This means that no more parties have access to your information than necessary, making it safer.

Another advantage of e-wallets is the speed and simplicity of transactions, as well as the ability to use different payment methods and currencies to fund your account.

The most popular e-wallets:

• PayPal
• Paysafecard
• Neteller
• Skrill

The advantages

• Protection of personal banking information
• Convenience – we don’t have to write down our bank details for every payment.
• Flexibility – e-wallets often support multiple currencies.
• Speed – payments using this method are very fast, usually taking just a few seconds.

Disadvantages

• Bookmaker fees – e.g. 5% for Tipsport.
• Limited withdrawal options – you are limited by the amount you can withdraw.

Cryptocurrencies

Cryptocurrencies are becoming increasingly popular and can give you many advantages when depositing money with bookmakers. Cryptocurrency transactions are very fast, secure, have low fees and pay worldwide. Unlike traditional methods, these transactions do not involve intermediaries such as banks and various companies. Although Czech bookmakers do not allow this method, there are already bookmakers abroad that routinely accept payments in cryptocurrencies.

The advantages

• Speed – Payments are made almost instantly.
• Security – payments are processed on a decentralised network, making them more resistant to hacking.
• Anonymity – some cryptocurrencies are difficult to trace.
• Low fees – payments do not go through an intermediary.

Disadvantages

• Currency volatility
• Limitations – it is still not a widely used payment method.