Last Updated: 6 June 2022, Author: AceOdds.com
Making deposits to your Betfair account can be done using a wide range of payment methods from e-wallets such as Skrill and PayPal, Debit Cards and Apple Pay.
Betfair offers several new customer sign up offers that you can use when creating your new account. Check the terms and conditions of your offer when making your first deposit, as some promotions exclude certain types of payments, and you may find you invalidate the offer if you're not careful.
Other important considerations when choosing your deposit method include the Deposit limits and the Betfair withdrawal time, as this varies with each payment method. If it's essential to access your winnings fast, or you like to bet big, you will need to consider this.
Betfair operates net deposits "closed-loop policy". This means that withdrawals are made by the same method you chose for your deposit, so it's important to check withdrawal timescales. However, you only have to withdraw the exact amount you deposited via the deposit method. If your winnings exceed your deposits, you can choose another withdrawal method for the remaining funds.
Debit Card, Visa, MasterCard, Maestro, Electron
|2 - 5 Banking Days||£1.00||£99,999||Free|
Free deposits via Visa and MasterCard.
When selecting a debit card to use for your deposit, it's worth considering your future withdrawal options at the same time.
Many UK issued Visa cards will be eligible for Fast Funds, which may mean you can receive your funds within hours rather than days. Mastercard withdrawals will take 2-5 days, and some UK issued Mastercards do not provide details allowing withdrawals at all.
Make quick and easy deposits with a Neteller eWallet
Neteller is an eWallet popular with gamblers, and Betfair states it's quick and easy to deposit using this method. Once you've selected Neteller as a deposit method, you can open an account if you don't already have one.
It is worth bearing in mind that eWallets can often be excluded in the terms of promotional offers, so when choosing it for your first deposit, check the terms of any welcome offers.
Instant transfers available in 120 countries.
Similarly to Neteller, Skrill is an eWallet. It's not accepted everywhere but is popular with online gamblers.
If you are using a promo code or welcome offer link, check the terms and conditions carefully, as using eWallets like Skrill and Neteller for a first deposit can invalidate the offer.
The most well known and widely accepted eWallet
PayPal needs no introduction as it is the most widely known and accepted eWallet available. You can use PayPal to make instant deposits to your Betfair account. Deposits can only be made with linked debit cards, as credit cards are not accepted.
However, as with other eWallets, keep an eye on the terms and conditions of any offers you are using.
Use Paysafe vouchers to make deposits.
Paysafecard vouchers can be purchased at many outlets and are a convenient way of topping up the balance on your Betfair account without using a card.
It is worth noting that Betfair does not allow you to withdraw money back to an online Paysafe account. When withdrawing, you will be prompted to use bank transfer with the potential for longer processing times than with other payment methods.
Rapid Transfer allows for instant bank transfers.
Rapid Transfer is supported by over 3000 banks worldwide. If your bank is one of them, you can use the service to make instant bank transfers to your balance without leaving the Betfair website.
iOS users can use a debit card linked to their Apple Pay account.
If you are using Betfair on an iOS device, Apple Pay is a convenient way to make deposits using a debit card without entering all your details.
Just ensure that you have a debit card added, as credit cards are not accepted.
Deposit cash over the counter at Paddy Power shops.
Despite not having a High Street presence themselves, Betfair have teamed up with Paddy Power to enable their customers to make cash deposits over the counter in Paddy Power shops.
Bank Transfer deposits take 2-5 working days to process.
You can make bank transfers to Betfair, though with a longer processing time and no difference in deposit limits, there seems to be little benefit in doing so.
When you select this as a deposit method, you will be provided with bank details and a reference to ensure that your deposit is credited to your account correctly.
Deposit a minimum of £10 using the MuchBetter payment app.
MuchBetter is the only payment option at Betfair with a different deposit limit. You must deposit a minimum of £10 and a maximum of £20,000 if using the MuchBetter service.
Betfair has an extensive range of payment options available, but there are a few notable exceptions that you will find at other bookmakers.
Once you are logged into your Betfair account, it is easy to find the deposit option as the button is visible in the top menu on every page.
Clicking the button will take you to the deposit screen, where all your deposit options will be visible.
Select your preferred payment method, enter the amount you wish to deposit and any other requested details and hit deposit.
Betfair offers a range of tools to help you gamble safely and within your limits.
By clicking the Safer Gambling link in the top menu, you will be taken to the responsible gambling page to find details on tools to manage both time and finances. To set up the tools, you will need to access your account menu and select the Safer Gambling Tools option.
You can use the Reality Check feature to remind yourself how long you've been on the site and the Self Exclusion and Time Out features allow you to take a complete break for a time of your choosing.
The Loss Limit and Deposit Limit features are beneficial when managing your money. A loss limit means you can't lose more than your set limit, and any changes will take 7 days to take effect.
When you set a Deposit Limit, you can choose to set a daily, weekly or monthly limit.
It's worth noting that the changes will take effect immediately if you reduce your limit or frequency. Any increases in your limit are subject to a 7-day cooling-off period.
There are many reasons that a PayPal payment to Betfair might fail. If you are funding a transaction with a credit card, this will not be allowed due to UK gambling regulations. You cannot use PayPal funds generated by eBay sales to fund your Betfair account as this is classified as a third party payment.
No deposit is required to open a Betfair account if you do not wish to place a bet immediately.