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

Bonuses and promotions are perhaps the sweetest part 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.

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 tickets, free spins promotions, and many others. However, these bonuses and promotions always come with specific wagering requirements that must be met before the player can transfer his bonus money to the real-money account. In addition to these wagering requirements, 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 through Skrill and Neteller e-wallets can’t receive a welcome bonus. The topic of our article is precisely this situation, and we’ll try to find out why sports bookmakers don’t allow players to collect their bonuses if they deposit with e-wallets, Skrill, or Neteller.

What are Skrill and Neteller?

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

E-wallets are a widely used deposit method in sportsbooks, but also online casinos, and 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, and some of them are more adapted to the online betting industry, while others are more reserved towards this industry, 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 around the world. The company started back in 2000, and at one point of its existence, Neteller held 85% of transactions done in the betting industry.

Unfortunately, in 2007, they had to leave the United States market due to the UIGEA law, and the company faced significant financial problems. 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 working almost twenty years ago, in 2001 to be exact, but under the name Moneybookers. The company that has its headquarters in Great Britain has had unprecedented growth in the first few years of its existence. In 2010, it already became one of the world’s most famous companies offering money transfer services.

In 2013, the company made a complete rebranding and changed 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 in a certain percentage.

For example, if the offer is a 100% bonus up to €200, if you deposit €200, you get 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 to transfer their bonus money to the 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 such orders from their regulatory bodies must have valid user identification to avoid possible fraud and money laundering doubts.

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.

Most money transfer services’ deposit and withdrawal fees range from 2% to 3% of the total transaction. The operators who cover these costs don’t prefer to pay such high fees and try to keep players from using them differently.

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. Since e-wallets have high-speed withdrawal services, the players had used this fact in the past and often took large amounts of money from sportsbooks before the operators figured out what happened.

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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