Trusted betting payment methods in South Africa

South Africa is one of the leading countries in Africa with the highest number of bettors. South Africans are sports enthusiasts with their favorite being football, rugby, and horse racing leading to the establishment of several sportsbooks in South Africa.

Local and international sportsbooks are working hard, so each of their clients can have the best user experience both online and offline. One of the ways is to establish trusted betting payment methods.
There are quite a lot of online betting sites in South Africa and betting payment methods vary with each sportsbook. Some offer limited methods while others have a wide range of payment methods.

But how can a South African bettor know a legitimate bookie?

1. Safety and security
Safety and security in a betting site are vital to a South African bettor. It ensures you are transacting with a legitimate sportsbook regulated by the National Gambling Board. It ensures that winners are awarded their payouts without fail and in proper time.

2. Catering to the needs of South Africa bettors
Although many international sportsbooks support British Pounds, Bitcoins, and US Dollars, they should support transactions in South Africa Rands.
Transactions should be done in the English Language due to the diversity of the 11 national languages.

3. Accepting major credit cards
Online betting sites should accept all major credit cards, they should allow South African Bettors to transact through Visa Card and MasterCard. They should not have limited transaction methods.

Depositing and Withdrawal methods available for South Africans

Credit cards

South Africa bettors who have access to credit cards can easily transact between the bank and betting account. Visa and MasterCard are accepted anywhere in the world. They are both accepted by SouthAfrica sportsbooks.
Pros
• Visa and MasterCards are accepted widely.
• There are no charges in deposits.
• They are fast
• High-level of safety
Cons
• They have interest charges.

Online Methods

i-Pay is a popular online payment platform available for South Africans. It is mostly used by sellers and buyers when transacting for services or products offered. I-Pay is a preferred method by both the South African bettor and the bookie because of its reliability. It enables a user to transact via QR Code, Email, Push Payments, and SMS.
Pros
• There are no charges in Deposit.
• Payments are secure.
Cons
• It is slow. Deposits take 1-3 days to appear.

Bank transfers
Any South African Bettor can transact through any bank of his choice as long as he has an account with them. Nedbank, FirstRand, Standard Bank, Capitec, ABSA Bank Limited, Finbond, and First National Bank (FNB) are of the trusted banks in South Africa. Any bettor can deposit in his betting account through any of these banks.

Electronic fund transfers(EFT) or wire transfers are supported by bank transfers. OZOW is one of the EFT methods that a South Africa Punter can use. It is one of the best EFT payment services accepted by South Africans. A South African can link OZOW to several banking accounts.

SID is another EFT loved by South Africans. It allows payments to be quick and instant. SID EFT can be linked directly to a bank account. One advantage of using SID is the user will not require a card to transact. Plus, deposits are free.

Pros
• Bank transfers offer safe transactions.
• One can transact a lot of money.
Cons
• Processing time takes 1 to 3 business days.
• Deposit amounts are limited—R50- R1 000 000.

E-wallets

E-wallets are accepted majorly by foreign-based bookies. E-wallets as a deposit and withdrawal method notably known for adaptability and quick transactions. E-wallets allow customers to transact either through traditional currencies or cryptocurrencies. A good example of E-wallets is Skrill and Neteller.
Pros
• Fast and instant.
• It accepts both cryptocurrencies and traditional currencies.
• Highly versatile.
Cons
• They have a service charge.

Online betting sites in South Africa offer a variety of payment methods. You have to ensure your preferred site should offer a convenient and reliable deposit and withdrawal method before signing up. A trusted betting payment method allows you to transact without any worry of breach of account information.

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