Last Updated: 1 March 2023, Author: AceOdds.com
Deposit a maximum of £20,000 into your account instantly with your Debit Card or PayPal account. You must use a Debit Card for your first deposit; PayPal will be accepted after that.
Like other online betting sites, Virgin Bet has a bonus code sign up offer to entice you to join them: deposit £10 and get £30 in free bet credits that you can use for betting purposes. If you're already signed up with Virgin Bet, there are plenty of promotions for current customers. Use these to get the most out of your Virgin Bet experience and your deposited funds.
Setting up your account with Virgin Bet is quick and easy, with your account being verified and ready to go in seconds. However, although Virgin Bet may not ask for identification when opening your account, they will verify the information you provide to perform a credit check.
Follow this guide for a hassle-free setup, and look at Virgin Bet's terms and conditions to ensure you don't run into any issues. Be sure to read our article on withdrawing funds from your Virgin Bet account so there are no surprises.
This article will examine how Virgin Bet allows you to deposit funds into your account. Although, we should point out that there are only two forms of payment accepted by Virgin Bet, which is in stark contrast to other online betting platforms, which offer several.
When we questioned their customer support as to why Virgin Bet only accepts two deposit methods, they stated it was down to "financial security." However, you can be assured that Virgin Bet follows the same data security guidelines as other online betting sites.
Once your account has been created and verified, you'll be taken to the deposit screen. Although PayPal will be listed, you must make your first deposit with Virgin Bet via Debit Card.
Virgin Bet operates under the regulated closed-loop policy, meaning you must withdraw funds via the method you deposited them to the amount deposited. Once you've covered the deposited amount, you can withdraw via another method.
Debit Card, Visa, MasterCard, Maestro, Electron
Funds hit your account immediately. Deposit a minimum of £5 and a maximum of £20,000 via Visa and Mastercard.
Of the two deposit methods accepted by Virgin Bet, Debit Card deposits offer the lowest deposit minimum of £5. You must make your very first deposit with Virgin Bet via Debit Card. You can add multiple Debit Cards to your Virgin Bet account via your My Account section. You can also amend any details and remove cards from this section.
You'll be prompted to deposit via Debit Card when creating your account, but if you don't do this straight away, you can easily find your way by clicking the Deposit icon on the main page. Although Virgin Bet will not charge any fees for depositing funds, you will be expected to absorb it if your bank does charge a transaction fee. Virgin Bet does not refund any transaction fees issued by your payment provider.
Funds hit your account immediately.
Since Virgin Bet quotes "financial security" as their reason for only accepting two methods for depositing funds into your account, it's hardly surprising that they accept PayPal. As the most popular and commonly used e-wallet, PayPal is considered a secure deposit method.
With a slightly higher minimum of £10, PayPal instantly deposits funds into your Virgin Bet account. When selecting PayPal as your deposit method, you'll be directed to your PayPal account for verification. You'll also be able to choose which account money is taken from - should you have more than one bank or card registered to your PayPal account. Just ensure that the name registered to your PayPal account is the same as that registered with Virgin Bet to avoid the payment being declined.
Once your account has been created, you will see the Deposit icon, your account balance and the My Account icon on every screen.
The deposit method will default to Debit Card and will accept Visa and MasterCard. This is the only way you'll be able to make your initial deposit of funds into your account.
When adding your first or additional Debit Cards to your Virgin Bet account, the name section will be auto-populated with the name registered to your Virgin Bet account. Make sure they match to avoid having your transaction rejected.
When making your next deposit/s, you'll be able to select PayPal from the dropdown option. Once again, the name registered with your Virgin Bet account needs to match your PayPal account name to avoid any issues.
Virgin Bet offer a selection of tools that help you gamble responsibly and set limits for both time and finances.
Making use of the measures outlined below can help you make sure your gambling stays under control.
When you first create your Virgin Bet account, you'll be prompted to set a monthly deposit limit. However, you can also adjust these and set new limits in the My Account section.
In the 'Bet Responsibly' section, you'll find three more areas to help you gamble responsibly.
Spend Limits allows you to add or change any limit on your account. Whether daily, weekly or monthly, you can choose the amount and time frame, and Virgin Bet will prevent you from spending above it. If you have a limit set up and decide to change it to 'No Limit', it will take 24 hours to come into effect. However, you can make other limit changes instantaneously.
Remember that you set a limit for a reason and give yourself time to think whether removing or increasing limits is the right thing to do. The minimum bet that can be placed at Virgin Bet is just 5p.
You can also set limits on your account usage to help you manage your time. The Time Management feature can give you a 'reality check' every 30 minutes or one hour.
You can also set a cooling-off period from 1 day to 6 weeks. During this time, Virgin Bet will restrict access to your account, and you won't be able to place any bets.
The final safe gambling measure is to suspend your account. When you click the Suspend account icon, you'll have three options; Cool Off, Self Exclusion, which prevents you from betting for six months, or close your account.
As mentioned earlier in this article, Virgin Bet is in the minority when offering only two forms of payment methods. If you're not betting above £20,000, it may not be an issue for you. However, those adding funds for a big syndicate or those who are happy to bet above £20,000 at a time may find it quite limiting.
Overall, as a comparison, Virgin Bet abides by stringent limitations when depositing funds, both in terms of payment options and maximum values. The question you have to ask yourself is, does it matter? If you're only going for the odd bet here and there, using the most popular payment methods and depositing less than £20,000 at a time isn't likely to be a hindrance. However, syndicates, and those gambling with high stakes, may find other bookmakers suit them better.
Virgin Bet quotes “financial security” as their reason for only offering these two payment methods.
Some details on your card, such as CVC and expiry date, can be edited. However, your card nickname, the name registered on your card, and the card number cannot be changed if saved incorrectly. You can edit your card in the My Account section.
If your card expired, but the number has stayed the same, you can edit these details. To add a new card, you would have to follow the process of adding a new payment method within your account and select the correct card as your new/preferred payment method. You can remove old cards from this section as well.
Any money deposited into your account and not used to place a bet will remain in your account and be withdrawable. Any part of your account balance made up of Bet Credits cannot be withdrawn.