WebMoney for Sports Betting
WebMoney is an international online payment system, first established in 1998. The company is Russian but serves users all over the world. WebMoney now has a reported 41 million accounts and 300,000 active weekly users. The service works similar to other eWallets, allowing users to send and receive money with convenience.
The WebMoney payment service is accepted by a lot of online sportsbooks, as it’s highly popular and allows for fast and simple payments. Through WebMoney, you can deposit funds into your account and withdraw winnings, giving you a simple way to bet online for real money.
- The WebMoney service is owned by WM Transfer Ltd
- WebMoney Europe is based in the UK and has a license from the FCA to operate in the EU
- WebMoney supports mobile payments on iOS, Android, and other devices called WebMoney Keeper
- Through their mobile device, users can scan a QR code to make instant payments online and in-store
- A WebMoney transfer charges 0.8% of the amount sent in fees, up to a maximum of $50
How WebMoney Works
WebMoney works in a similar way to other popular eWallet services. Users sign up and create an account, then add funds to their online wallet. Once funds have been added, users can then make payments using WebMoney. The service can also be used to receive funds, making it ideal for online sportsbooks.
To begin using the service, you’ll first need to create an account. This is fairly simple, and just like when you sign up to an online sportsbook, you’ll need to enter your personal details and verify your ID. You can sign up online through the website or by downloading the WebMoney Keeper app on your phone or tablet.
How to Make Deposits with WebMoney
Once your account is set up, you’ll need to add funds. You can do this in various ways, including online bank transfer and even ATM (depending on where you live). With funds in your wallet, you can start using it to make deposits to your online sportsbook account. Follow these steps for quick and simple deposits:
- Sign into your sportsbook account and go to the cashier or deposits section
- Choose WebMoney as a payment option and sign into your WebMoney account
- Your WebMoney wallet balance will be shown and you can choose how much you’d like to deposit
- Follow the on-screen instructions to confirm the deposit and go back to your sportsbook
How to Make Withdrawals with WebMoney
As with making deposits, withdrawing money from your sportsbook is simple with WebMoney. The process works in more or less the same way. Follow these steps for a fast and convenient withdrawal:
- Log into your sportsbook and go to the cashier or withdrawal section
- Select the WebMoney logo to choose this withdrawal-type
- Enter the amount you’d like to withdraw and confirm the withdrawal
- Wait for the confirmation message to appear and the funds should show up in your wallet shortly
Advantages and Disadvantages of WebMoney
Before you decide whether to use WebMoney or not, consider some of the advantages and disadvantages of the service:
- Fast payments and withdrawals - The main advantage of WebMoney is that it provides fast deposits and withdrawals. Users can instantly transfer funds anywhere, although withdrawal times will depend on the sportsbook you’re using.
- Good security - WebMoney has an excellent reputation for protecting player funds since it was first established back in 1998. Encryption is used to protect your personal data and keep your money safe while using the web service or app.
- A level of anonymity - In countries where gambling is restricted, services like WebMoney can be used to get around banks, not processing payments. Because the service is accepted in a lot of countries, it can be used to protect your ID and get around gambling laws.
- Greater control over funds - When you use WebMoney, you have complete control over your finances and can track your spending habits. This is great for betting as it allows you to manage your bankroll and ensure that you’re not spending too much.
- Support for multiple currencies - WebMoney allows you to transfer money using several different currencies, including USD, EUR, RUB, and more.
- Fees - Fees do apply to WebMoney transfers, as with most other eWallet services. There is a standard 0.8% transaction fee for all transfers, although the maximum fee is $50.
- Limited coverage - While WebMoney is available throughout many countries, there are still lots of countries where it’s not widely used. A lot of sportsbooks accept it, but it doesn’t have the same level of coverage as other eWallets.
WebMoney has an excellent reputation for keeping its users safe. Encryption is used to protect funds and personal details. With the web service and WebMoney Keeper app, users can have peace of mind knowing that their funds are protected, and only they can access them. Provided you keep your password safe and are wary of online scams, you have nothing to worry about when using WebMoney.
How long do WebMoney transfers take?Payments made using WebMoney are generally processed instantly, allowing you to place bets as soon as you confirm the deposit. Withdrawals can take longer and will depend on which sportsbook you use.
Will my online sportsbook accept WebMoney payments?A lot of online sportsbooks accept WebMoney payments, although the service isn’t as widely accepted as other eWallets. Check if your sportsbook accepts WebMoney by reading our review of the site.
Does WebMoney charge fees?Yes, if you want to transfer money using WebMoney, you will have to pay a small fee. The fee is 0.8% of your transaction, up to a maximum of $50.
Is WebMoney safe?WebMoney has been in business for over two decades and has a great reputation for protecting user funds. Provided you don’t give out your account details, your money will be safe in your wallet.
Can I use WebMoney in the US?Yes, WebMoney is available in the US. You’ll need to sign up and create an account to use the service, either on the website or through the WebMoney Keeper app.