Every better in SA worries about how fast their bookie will process payouts. So, just to simplify things for you, we assigned our team of experts to search for the most efficient online sportsbook payment methods.

In our assessment, we looked at the overall turnaround time for withdrawals. We also considered factors such as customer service availability and the variety of banking options at each site. The team determined that the following bookmakers have the most impressive payout speeds.

The Best Sports Betting Site for Banking in South Africa

Apart from the fact that Betway is an international brand that offers quality odds on various sports, one great reason to join this site is that it has the quickest payouts for Mzansi. The staff here works hard to get your cash into your account without delay.

Betway supports over 20 South Africa based sports betting banking options. This list includes FNB and Nedbank EFTs as well as Ozow and Prepaid vouchers. You can fund your account instantly and bet on the Springboks as they play on international leagues. Your cash will be safe since Betway’s cashier department is backed by the best data encryption technology.

Why Read Our Sportsbook Banking Methods Guide?

Our guide is the most suitable resource if you are looking for in-depth information on how to manage your funds while playing online. We also know that betters don’t like waiting for too long to receive their winnings. We can help you understand some critical aspects of sports betting payments better.

Understand Deposit & Payout Times

With most sportsbook payment methods, deposits are generally instantaneous. However, when it comes to withdrawals, consider the bookies processing time as well as that of your chosen payment method. The cashier has to review your withdrawal request before transferring your winnings into your account. This will take even more time if you are new to that bookmaker.

Understand Payout Terms and Conditions

You’ll be in great danger if you don’t understand what’s required in order for a withdrawal to be successful. If you’ve just signed up to a bookmaker, you will need to verify your account by providing copies of your identity. Before withdrawing from ZA betting sites, take heed that there are limits. You may be denied a withdrawal of less than R10, for instance.

Comparing the Best ZA Sportsbook Banking Methods

For this guide, our focus is on bookmaker deposit methods. But to help you pick the best bookie, we had to compare different features on the different betting sites up close. Therefore, we collected information for each top bookie and created the chart below.

Top Payment Methods for South Africa Betting Sites

While different sportsbooks will try their best to deliver speedy withdrawals, it all comes down to your payment method. Every banking option has its own pros and cons. Let’s have a look at the most popular sportsbook payment methods for South Africa.

Bitcoin

The popularity of cryptocurrencies in ZA is growing. Bitcoin lets you perform online transactions without using a bank account. Many South Africans are skeptical about the safety of such sportsbook payment methods.

However, since you won’t be required to provide your personal banking details, Bitcoin is actually one of the most secure ways to fund your sports wagering account. Every user on this payment platform enjoys anonymity.

Visa/MasterCard

If you need cash to back the Proteas on their ODI match against the Aussies, your credit or debit card is one of the safest bookmaker deposit methods. Your Visa or MasterCard is linked to your bank account which means it’s easy for you to keep an eye on how much you’re spending.

The bookie takes due diligence to verify your withdrawal request. A point to note here is that you cannot ask for your winnings to be credited to an account that is not in your name.

Skrill

You can save time and energy with Skrill. This payment method makes use of an online wallet. Customers can quickly make payments without having to provide their bank details.

Deposits and withdrawals here are typically rapid. To start using this banking option, you will simply need to sign up and transfer funds from your bank to your wallet. A great advantage to Skrill is that the service fees are pretty low.

PayPal

PayPal is one of Skill’s rivals, with over 200 million users around the world. Customers can complete online transactions with just their email address and password. You can also receive your cash within a few minutes. PayPal is one of the most secure sports betting banking options as the system makes use of high grade data encryption.

Ozow

Ozow is a homegrown innovation that allows betters in Mzansi to transact via their smartphones using instant EFT. This payment method links your bank to the sportsbook bank without credit cards.

The great thing about local sports betting banking options like this is that you don’t have to worry about forex exchange rates. Depositing funds with Ozow is instantaneous and yet very secure. For added convenience, you can shop at select department stores and other outlets using this method.

SiD

This is another cardless payment option specifically designed for South Africans. You can use SiD with major banks such as FNB, ABSA, Capitec, and others.

Deposits are free of charge and you can easily manage your gambling budget since all your transactions will appear on your bank statements. You can also make payments while on the go since the SiD platform supports most smartphones.

EFT

Electronic Funds Transfer (EFT) is one the stress free bookmaker deposit methods. However, this is not the fastest way to get your winnings from your sportsbook.

An EFT withdrawal may take several days because the banks will only process your request on working days. The important thing about this banking method is that there is a high level of security. You don’t have to worry about third parties looking at your information.

Slow/No Pay Sportsbook Red Flags

Not all bookmakers should be trusted. You have to research thoroughly into an operator’s reputation. Unprofessional bookies will take months to pay out, especially when you’ve won big amounts. Other sportsbooks won’t ever pay. So watch out for the following telltale signs.

Slow Customer Support

The customer support department is one of the most important part of the online gambling business. As a test, you should always check to see if a bookie has a reliable customer service with live chat and toll free numbers. Customer support should always be quick to respond as this is a sign of transparency. If you have a withdrawal related query and customer support takes too long to respond, this should raise all your red flags.

Backlog or Payment Processor Excuses

Glitches do occur and that shouldn’t be a surprise. However, when these complications conveniently happen when you are about to make your withdrawal, there’s definitely something fishy about the betting site. Sportsbook payment methods generally foster swift withdrawals and waiting periods should be minimal. A site that apologizes too many times for system mishaps is suspicious.

How to Deposit on a Betting Site

Making a deposit at any of our recommended bookmakers will be very easy. Most betting sites have simple instructions that you can follow. Here are some steps that you can take to fund your account and start betting.

1. Choose a betting site and sign up

First, you must pick your favourite sports gambling site. You have to consider factors such as promotions, payout speeds, and more. When you’re ready to sign up, just tap the Register Now or Join button, and fill in the form with your details such as; full name, email address, phone number, date of birth, and the like.

2. Click Deposit

Now that your account has been created, you will be able to sign in. The deposit link is only visible to betters who have signed up. Some easy-to-navigate sites will have a button for your dashboard at the top of the landing page. Or, there will be a deposit button. You could also look for the cashier from the main drop-down menu.

3. Choose deposit method

The deposit link will take you to a page where you can pick from several sports betting banking options. Some bookies will intuitively take you to the cashier section once you’ve finished the sign up process. You will be able to see the deposit limits and how long you can expect your transaction to take.

4. Confirm payment

After picking your payment option, simply enter the amount you wish to deposit. The minimum deposit is generally R10. Then confirm your payment and your new balance will appear on your dashboard.

Conclusion

Punters in South Africa can make betting deposits through plenty of safe and easy methods. You can start betting on your favourite teams in a few clicks. There are several local methods such as Ozow and SiD which are convenient as punters won’t have to worry about exchange rates.

Most bookmaker deposit methods offered to South African players are safe and use data encryption. But Bitcoin also makes your transaction totally anonymous. Customers must look out for suspicious bookies which delay withdrawals or won’t payout at all. Betway is our number one choice for speedy and reliable payments.

FAQs

How does Ozow work?

Ozow is one of the locally run sports betting banking options. This is an instant EFT that links you to your bank without a credit card. You can make online payments using your smartphone.

Is online sports betting legal in South Africa?

Yes. Online sports betting in Mzansi is regulated by commissions such as the Western Cape Gambling and Racing Board.

Why do credit cards take longer than Bitcoin?

Credit cards and Bitcoin are both reliable bookmaker deposit methods. However, since Bitcoin does not need to be processed by banking institutions, its transactions are faster than credit cards.