Secure Online Payment Methods Guide
To many would-be punters, making a deposit online is probably the one factor putting them off from registering an account. It shouldn’t be.
Read our online payment methods guide to understand what the most widely used and secure methods in South Africa are.
Online bookmakers across South Africa almost all offer the same deposit options. Credit and debit cards, secure instant online EFT and various online vouchers are widely accepted. The payment method offering nevertheless differs from online bookmaker to bookmaker.
Debit and Credit Cards
The most used and accepted online payment methods of all are Debit Cards and Credit Cards. Most SA bookies accept Visa, Visa Electron, MasterCard and MasterCard Maestro. These are widely available and highly secure for online payments. Plus, bookmakers will also not charge you for using these.
Please note that bookmakers in South Africa currently do not refund withdrawals to credit or debit cards.
SiD Secure EFT (Electronic Fund Transfer)
SiD as a company have been around since 2007 giving them enough time to know what works for the South African betting market – and what does not. It is one of many instant EFT facilitators. Other providers are Peach Payments, i-Pay OZOW and PayFast, all offered for example by Hollywoodbets.
All EFT payment systems work in the same manner, allowing players to safely and securely transfer funds directly from their bank account to the bookmaker’s account without the need for a card. Funds are also available instantly.
EFT is supported by most banks in South Africa such as ABSA, Capitec Bank, FNB, Investec, Nedbank and Standard Bank. It is one of the most widely trusted and used payment method online and very easy to use. Once logged into your betting account, visit the cashier and choose SiD (EFT) as the payment method. Then select the bank you hold an account with, enter your online banking login details and complete the transaction.
This instant deposit methods is one of the most secure payment methods and simple to use. Bookmakers such as Betway.co.za won’t charge you for using it. Be sure to check for any associated costs your bank might charge for electronic transfers.
We do like bookmakers who also send our winnings using instant EFT. There is really nothing better than receiving your winnings instantly, even if there might be a cost involved.
Direct Bank Transfers
Some players still feel that logging into their online banking through a third party is just not for them. Therefore, they don’t trust instant EFT transfers and rather prefer direct bank transfers.
You can transfer funds to your online betting account by adding the bookmaker as a beneficiary and making a payment. Although this method usually takes a little longer, you might feel more secure and have full control.
All South African banks offer their customers bank transfers. Unfortunately some bookmakers do not have bank accounts with specific banks and hence might not be able to accept payments. In other instances there could be additional bank transfer charges. If unsure, always contact the support desk for more information on using direct bank transfers.
Most online sportsbook operators in South Africa also use direct bank transfers for transferring your winnings. As with instant EFT, there might be an extra charge for receiving your winnings using this method.
1Voucher and OTT Vouchers
You don’t have access to a credit or debit card or other banking facilities? You just don’t want to use cards online? This does not stop you from being able to deposit funds into your online betting account as you can use vouchers instead.
This easy to use method is as simple as loading an airtime voucher on your phone. Simply purchase your 1Voucher or OTT voucher at a participating outlet. Then log in to your account, select the voucher type you are using, enter your pin and click submit.
You can now also buy OTT vouchers online directly from their website. To complete your transaction you will however need access to online banking . Once you have completed your purchase, you will receive your OTT voucher pin via SMS as well as having the details displayed on screen.
You can buy your 1For You Voucher from retailers such as PEP, Shoprite, Checkers, Usave, Dealz, Ackermans, OK and many others and also online.
OTT vouchers are available online and at more than 75,000 outlets across the country including Game, Makro, Builders and Caltex.
You can use these vouchers at almost all the big online sportsbooks in South Africa, including Hollywood Bets, Betway, Gbets, PlayaBet or Bet.co.za. Be sure to read through our detailed sportsbook reviews to see available deposit methods.
Please note: online vouchers cannot be used to receive your winning.
Alternative Online Deposit & Withdrawal Payment Methods
Above we have listed the most used online payment methods by South African punters. But we did think that it is worth mentioning that there are a few more methods available to use online.
USSD (Unstructured Supplementary Service Data) offered by Betway is an innovative way of topping up your account without the need for mobile data. Making use of your phone to communicate with your service provider, like checking your airtime balance or topping up through SMS messages. Not only can you fund your account, you can also check your balance or request a withdrawal. More information on using this method is available on the BetWay website.
Bookies such as Hollywood Bets, Gbets and Sunbet also offer their customers the option to fund their online account by visiting one of their retail outlets.
The majority of South African bookmakers will refund winnings through EFT or OTT instant pay-outs allowing users, even if they don’t have a bank account, to visit their nearest ATM, enter their unique code and withdraw their winnings.
As part of the bookmaker’s regulatory obligations all players need to undergo FICA. This might seem like a pain, but this procedure is there to ensure the safety of all customers. It also gives peace of mind that you are betting with a licensed operator. For more information on FICA and betting online, please read our detailed FICA guide.