Neteller has quickly become one of the most popular banking methods for millions of sports bettors out there. Since their introduction in 1999, the company have gone on to provide an e-wallet platform for their users that essentially eliminates the need to store personal banking details online.
Even though the company has been operating since 1999, it wasn’t until 2004 that they really started to hit the ground running, picking up a huge market share of the gambling industry, by luck as much as anything. They filled a gap in the market where players were struggling to get funds safely and securely into gambling sites, and it just so turned out that Neteller were a perfect match to overcome this obstacle.
What is Neteller and how does it work for online gambling?
As mentioned, Neteller is an e-wallet and this essentially means that it’s an online payment processor, allowing you to deposit funds without the need of a credit or debit card. It’s a popular choice for gamblers who either struggle to deposit using more mainstream methods such as Debit or Credit cards, or for people who are just looking to remain anonymous in the payment process.
A simple way to look at the Neteller payment process for online gambling is as a middle ground. You fund your Neteller account by simply deposit finds from your bank account into your Neteller account. This then allows you to use it as an online wallet (e-wallet).
Once your Neteller account has been funded then you will be able to use this money to deposit and withdraw into hundreds of gambling sites from around the world. The gambling site in question will only have access to your Neteller details and not your bank details.
Once you decide that you need your funds back in your bank account from your Neteller account then you can quickly and easily withdraw back, having your funds at your disposal once again.
Benefits of using Neteller
The biggest benefit is the anonymity of the whole process. The stricken rules that are in place from within the gambling industry these days means that the majority of sites out there are having to go through rigorous tests and condone to multiple licenses before being able to legally trade.
This means that more often than not your account and banking details will be safe. But on the off chance that a site does get caught out or even hacked, then the only details that they have on file for you will be of your Neteller account. If you keep only the funds you need in an account like this then should the worst-case scenario happen, you’d only be exposing minimal sums, rather than your entire personal bank account.
Transaction times with payment options such as Neteller are usually far superior to that of credit or debit cards. As many of you will likely be aware, it can take days or even weeks for certain transactions to fully process through your bank, with deposits and withdrawals being no different. These times are drastically reduced with a company such as Neteller and as a result, receiving money from your gambling site will likely take a matter of hours, not days.