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Choosing a Payment System
It is no secret that picking up the right payment system is one of the essentials for a successful work, so let’s find out what are the most popular when working with surebets and valuebets.
Top payment systems
There are two payment giants among professional bettors:- Skrill
- Neteller
Skrill
It’s extremely popular with professionals due to one simple fact - virtually every bookmaker provides it. And on top of that, most bookmakers charge no commission for a top-up, and withdrawal to Skrill is carried out in no time.Registration is quite simple. Put your personal information in a sign-up form, create login and password and select appropriate currency. And speaking of currency, we advise opening your Skrill account in EUR because it’s universal and accepted by most bookmakers: no additional expenses on conversion.
Getting back to registration, be advised to fill in only true personal information. The information provided would be verified in several different ways we’ll elaborate on further. Such verification is performed to make sure you’re a real person.
Basic limits and commissions
When you are successfully signed up, you’re automatically set a transaction limit, which is typically 1000 EUR for transactions and 2500 EUR general limit (or other currency equivalent).You can increase the transaction limit by passing a background check composed of several stages including proof of identity (sending your ID), home address and credit card verification. Home address is pretty easily verified. You’ll be sent a letter with a code to the address you indicated while signing up. The code should be entered on the Skrill website page.
As for other tariffs/commissions, for each transaction you are charged 1.45% of the transferred amount. And if you like your funds to be withdrawn to the card, you’d have to spend 7.5% or 4.99% respectively. Bank transfers have a fixed commission rate of 5.50 EUR. More about Skrill commissions here.
Neteller
Another approved payment system is Neteller, which as well as Skrill belongs to the Paysafe Group. In the meantime, Neteller is actively used by professional bettors across the globe. Let’s go over its key advantages.These two (Skrill and Neteller) really have much in common and it’s pretty obvious, given the above information about the owners of the payment systems. Hence, Neteller offers a similar sign-up procedure with identical start-up limits and verification requirements.
Besides, there are some differences between these two payment methods. Like, say, Netteler gives you no possibility to withdraw money to Visa/MasterCard but no commission charged while withdrawing to a bank account (subject to the availability of VIP Gold status).
As for VIP status, it has some peculiarities as well. VIP status should be interpreted as an account category (Bronze, Silver, Gold, etc) that brings certain benefits (i.e. commission removed for money withdrawal). The major difference is the amount of deposit necessary to be advanced to different categories. More on VIP status here.
Basic limits and commissions
Top-up through most payment methods (including Visa/MasterCard) - 2.5% of the amount;Money transfer - 1.45% of the amount but no less than 0.5 USD.
Money withdrawal - 10 USD for a bank transfer (with Gold status and more - free of charge), 2.5% of the amount for withdrawal to Skrill. More on Neteller commissions here.
To sum up
Nowadays, Skrill and Neteller are considered the most convenient payment methods for professional bettors. Skrill will do for those who manage small amounts, and it's suitable for them to withdraw money to Visa/MasterCard.Neteller is more appropriate for betting big because you'll have no trouble getting Gold status and commission-free withdrawal to a bank account.