Online Sportsbook Banking Methods For South African Players.
With the demand for great online sportsbooks continuing to rise in South Africa, Sportsbooks have had to dig deep to ensure that they don’t just offer a great selection of sports, fixtures and odds, but probably more importantly, they need to offer a great selection of safe, secure, and convenient payment methods from which South African players can deposit and withdrawal.
South Africa is a country that has always been a global leader within the banking sector, with some of the most advanced financial innovations anywhere around the world. For this very reason, local players have grown to become accustomed to not only great payment solutions, but also a wide variety from which to use, depending on the players needs and requirements.
What Makes A Great Online Sportsbook?
For today’s punter, a great online sportsbook needs to ensure that it’s payment options address some of the below key criteria. When we unpack a sportsbook in our detailed reviews, each of the below is careful considered and analysed.
Variety – Online sportsbooks need to offer a good variety of unique banking methods which would appeal to all types of potential South African punters across income groups, demographics, and of course location.
Familiar – Sportsbooks today need to consider banking methods that local players have already become accustomed to, and are familiar with. This of course reduces the need to drive education of the banking method in the way it works and how to use it.
Safe & Secure – Probably one of the most important aspects of any banking method is the safety nd security it provides for players depositing or withdrawing funds. Players want to know that not only their details are safe, but also the transfer of their funds.
Easy to use – Of course, any banking method across any device, specifically smaller mobile devices needs to be easy and convenient to use, the simpler the method to use, the better.
Fees – When it comes to banking methods, fees are another very important aspect for any player. Players will want to incur as little admin and transaction fees as possible, particularly when looking to withdrawal their earnings.
What Are Deposit Payment Methods?
Let’s start from the top shall we. A deposit payment method is simply the type of transaction that you will select that allows you to transfer funds from your bank account into the sportsbooks account so that you can then start using these funds to place your bets online.
What Are Withdrawal Payment Method?
A withdrawal payment method is similar in the sense that you are most likely to have the same selection of payment options available when depositing, the only difference with a withdrawal is that instead of transferring funds from your account into a sportsbook account, you are now requesting the sportsbook to transfer from their account back into yours, normally. This is normally the case when you have a considerable winning amount you’d like to cash-out.
Remember if you are cashing out your winnings it is always advise that you keep an amount in your betting account for when you may want to play again, its easier than starting from scratch.
Choosing The Right Banking Method For You
The most important things you want to check off when it comes to selecting the right payment solution for you is the following:
- Is this method safe and secure for me to transfer my funds with peace of mind?
- Is this payment solution convenient, and do I already have access to it?
- Is this payment solution simple, and fast to use so that I am not struggling or experiencing long delay times?
- Are there any fees associated with using this payment method that bring additional value?
If you answered yes to all of the above then you are in great hands. Whats important to know is that Sportbooks online are not trying to trick you or to lead you astray, they want you to deposit with them so that you can start playing. It is for this reason that they will do their utmost to ensure that the above checklist is also in place. This means you wont have to search long or hard to find the right payment solution for you.
Types Of Deposit & Withdrawal Methods Available To South African Players?
There are a number of deposit & withdrawal methods, both old and new available to South African players, and more specifically ones which allow the transaction of South African Rands (ZAR).
As we have mentioned it is so important for sportsbooks to offer payment solutions that South Africans know and have previously utilised elsewhere, this helps build surety and confidence.
Below are some of the most widely available deposit & Withdrawal methods available to South African players
SID Secure EFT, also know as SiD Payments is a simple and fast payment method that does not require a credit card. With SiD, you can pay directly from your internet banking. Your funds will clear immediately – no proof of purchase required.
Wire transfer, bank transfer or credit transfer, is a method of electronic funds transfer from one person or entity to another. A wire transfer can be made from one bank account to another bank account, or through a transfer of cash at a cash office.
Visa, Mastercard and American express are all popular forms of credit card providers and widely accepted by pretty much all sportsbooks when depositing online. A credit card allows the holder a line of credit which they can then use to purchase good or services. The credit is then paid back over a period of time with interest
Ozow (i-Pay) is an automated electronic funds transfer (EFT) payment processor that allows for electronic funds to be transferred inter-bank directly into a sportsbooks bank account, this is action through your internet banking and the process is instant.
OTT Voucher is a prepaid voucher which allows you to pay, deposit and top up online service providers using a simple voucher code. OTT Vouchers can be purchased across South Africa at over 6000 outlets, including Boxer Super Stores, Caltex Fresh Stops, Kazang and Glocell Outlets.
1 Voucher is a simple and effective voucher based solution specifically designed for the cash based South African consumer. 1voucher can be purchased from any Flash Shop, PEP, PEPhome, PEPcell, Shoprite, Checkers, Usave, Dealz, Ackermans, OK, or House & Home store. 1Voucher doesn’t require the use of any bank accounts or credit cards making it a highly popular payment solution for South African players
Kazang Payments are taken using Kazang Prepaid’s proprietary mobile terminals which are designed and built to withstand a more informal business environment. Kazang devices don’t require a constant power supply and work off of the GPRS mobile data service which means they don’t need a fixed data connection. In addition to terminals, sales can be made via the web, USSD and mobile web.Customers can purchase a Kazang prepaid voucher which enables them to enter a code when depositing into their betting account online