Much like PayPal, Neteller is a digital electronic wallet (eWallet) service that allows you to fund your online betting accounts quickly.
You can fund your Neteller account straight from your bank and keep your money there rather than have it mixed with your other incomings and outgoings, or you can even fund it from Bitcoin.
For those who still may not wish for their sportsbook or casino activity to appear on any bank statements, loading your account from Neteller is ideal and is accepted by most of the major online betting sites these days.
Why Choose Neteller for Your Betting Site Deposits
The concept of eWallets including Neteller is as simple as it is secure. Neteller is like a purely digital bank account, except in this case you would fund it from a card or from your bank rather than any pay checks going right into it.
Once you do have your account funded however it is becoming more and more advantageous to use it for your online betting activity as it is completely private, quick and extremely secure.
Online betting sites are now very open to the use of eWallets and in fact often advertise higher limits and quicker payouts, though of course once you have withdrawn funds from your betting account you will need to do so again from Neteller in order to be able to spend, these days however those transactions can clear in a matter of minutes.
Advantages / Disadvantages of Using Neteller for Depositing on Betting Sites
The fact that you are essentially using a banking proxy can benefit people at both ends of the spectrum. Firstly, you may have plenty of means but don’t want people to see your betting transactions on a bank statement or you may simply not want them to get lost in among all your other monthly banking movements.
Also though if you do not have the means to be able to wire money to a betting account via a traditional bank, then funding your Neteller account first means you can skip that part and still load up your sportsbook war chest.
Another plus is the fact that some websites are still operating from territories where gambling is illegal and as such, you may find that your banking transactions to fund your account are not allowed. This will usually not be the case with any eWallets, including Neteller.
The only real disadvantage to using this service for your betting activity is the fact that you are now involving another party which could slow the process down. Firstly you must fund Neteller then send the money from there to the betting site.
Upon withdrawals, the same thing has to happen again. First you must cash out to your Neteller account then request a withdrawal from them to your regular bank which is usually quick, but could in theory take a number of days.