Why Sportsbooks Don’t Give Bonuses for Skrill and Neteller Deposits?

MilosNS
September 16, 2021
2445 Views
Betting bonuses

Bonuses and promotions are perhaps the most enticing aspect of sports betting for many players. Players receive these rewards upon registration. Respectable sportsbooks also continue to periodically reward their regular customers with attractive promotions and bonus offers after registration and the first deposit. Yet, some deposit methods are more favorable than others. Skrill and Neteller are popular payment methods, but they come with disadvantages.

Currently, most betting sites and online casinos offer this type of reward to their users. Bonuses and promotions come in various forms, such as matched bonuses, reload bonuses, free bets, and spins, etc. However, these bonuses and promotions always come with specific wagering requirements that must be met before the player can transfer their bonus money to the real-money account. Additionally, there are also various rules related to the player’s geolocation or the type of deposit methods.

One common rule is that players who make a deposit using Skrill or Neteller e-wallets are not eligible to receive a welcome bonus. The topic of our article is precisely this situation. We’ll try to determine why sports bookmakers don’t allow players to collect their bonuses when depositing with Skrill or Neteller.

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What are Skrill and Neteller?

Simply put, Skrill, Neteller, and other companies offer services for receiving and sending money online, commonly referred to as e-wallets. Every e-wallet requires its users to have bank accounts connected to the e-wallet account. Those bank accounts are used for depositing money into an e-wallet and withdrawing money from it.

E-wallets are a widely used deposit method in sportsbooks, as well as in online casinos. They are certainly one of the most popular deposit methods among online bettors. Of course, every company is different; each has its pros and cons. Simply, some of them are more adapted to the online betting industry, while others are more reserved towards e-shopping, such as PayPal.

Neteller

The company is managed by PaySafe Group and has its headquarters in London, Great Britain. This brand is well-known in betting and gambling circles worldwide. The company was founded in 2000, and at one point in its existence, Neteller accounted for 85% of transactions in the betting industry.

Unfortunately, in 2007, they were forced to leave the United States market due to the UIGEA law, and the company faced significant financial difficulties. However, after several years spent in the shadow of other money transfer companies, it seems that Neteller is more vital than ever and is once again a serious force in the market.

Skrill

Skrill started operating almost twenty years ago, in 2001, under the name Moneybookers. The company, with its headquarters in Great Britain, has experienced unprecedented growth in its first few years of existence. In 2010, it already became one of the world’s most famous companies offering money transfer services.

In 2013, the company underwent a complete rebranding, changing its name to Skrill. If you want to learn more about this company and its history, we invite you to read our detailed and honest review of the Skrill e-wallet.

Which Bonuses Can You Miss if You Make Deposits Via E-wallet Services?

If you belong to the group of players popularly called ‘Bonus Hunters,’ then, without a doubt, Skrill and Neteller e-wallets aren’t the best choice for you when it comes to deposit methods. If you have no other choice but to use one of these two e-wallets, you may miss the following types of bonuses and promotions:

Deposit Bonuses

Almost every online sportsbook gives its users different types of deposit bonuses. These offers can come as welcome bonuses for new users, as reload bonuses for existing users, or as a type of VIP bonus. In any case, the deposit bonuses function as bonuses in which the sportsbook matches the deposit amount made by the player by a certain percentage.

For example, if the offer is a 100% bonus up to €200, depositing €200 will result in a bonus from the sportsbook in the same amount. Of course, each of these welcome bonuses comes with specific wagering requirements that players must meet in order to transfer their bonus money to their cash account.

Why are Skrill and Neteller Excluded From These Promotions?

Believe it or not, there are a few reasons why online sportsbooks and casinos don’t give bonuses to users of these deposit methods. Here are the reasons:

PREVENTION OF FRAUDULENT BEHAVIOR AND MONEY LAUNDERING ATTEMPTS

The vast majority of regulatory bodies that issue betting licenses insist that operators do everything possible to ensure that their sites aren’t a place for money laundering and fraudulent behavior. Betting sites that have received such orders from their regulatory bodies must have valid user identification to avoid potential fraud and money laundering concerns.

Skrill and Neteller e-wallets don’t have enough information about their users that they can (or want to) share with online bookmakers, so some bookmakers don’t agree to give bonuses to the users of these deposit methods. Some bookmakers even refuse to cooperate with them, and there’s no option to deposit via Skrill or Neteller e-wallets.

HIGH TRANSACTION FEES

E-wallets generally have the highest transaction fees among all the deposit methods available at reputable betting sites and online casinos.

The deposit and withdrawal fees of most money transfer services range from 2% to 3% of the total transaction amount. The operators who cover these costs don’t prefer to pay such high fees and try to keep players from using them differently. If you like low transaction fees, we recommend trying crypto-betting sites.

E-WALLETS ARE POPULAR FOR BONUS ABUSE

Neteller and Skrill are often associated with abuse of bonuses and promotions. This applies to the situations where users constantly take bonuses using ‘holes’ in the sportsbooks’ terms and conditions.

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Conclusion

Although this doesn’t seem like a big problem at first glance, if you scratch the surface a little, you’ll see that a relatively solid number of online sports betting sites don’t accept Skrill or Neteller as deposit methods eligible for bonuses. Alternatives are using payment cards, prepaid cards such as Paysafecard, or cryptocurrencies such as Bitcoin.

On the other hand, Skrill and Neteller are very convenient deposit methods that are fast and secure, and there’s no perfect solution to this problem. If bonuses and promotions aren’t crucial to you, e-wallets are, without a doubt, the ideal payment method in online sportsbooks.

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FAQ 

  • Which is the best sportsbook for bonuses and promotions?

    Almost every online bookmaker has a set of different bonuses and promotions that offer their users certain advantages. Each player has different preferences when it comes to bonuses and promotions, so it’s always important to read the sportsbook review before you decide to register at one. This way, you’ll be able to maximize the possibility of receiving bonuses and promotions. You can always see which of them are ongoing bonuses and promotions in reputable online sportsbooks on our site.

  • Which is the best type of bonus in sportsbooks?

    There’s no best type of bonus; that is, there’s no universal answer to this question. However, we consider that the no deposit bonus is the most tempting type of bonus because, for getting this bonus, the user just needs to register in a sportsbook.

  • How to open a Skrill account?

    Opening a new account at Skrill isn’t complicated at all. But we need to point out the fact that if you want to have a fully functional account, you need to verify your account.

  • Is PayPal same as Skrill?

    No. Those are two completely different services, but on the other hand, they are quite similar. Skrill is cheaper, and easier to use, while PayPal has better security overall. Still, you can find Skrill on almost every betting site.

  • How does the Skrill work?

    Using a Skrill is quite simple. You can deposit your money into your Skrill account, and after that, you can move your money everywhere. Also, you can receive funds from other sites, such as betting sites to your Skrill account.

Author MilosNS

MilosNS is our senior content writer, SEO guru, and first ever tipster who started working with us, and he is still here. He is a well-known name in the sports betting industry, and his knowledge about anything betting related is vast. If you have any questions, or doubts, MilosNS has the answer for you.

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