How to Use Skrill to Bet

skrillSkrill started out its life under the name of Moneybookers in 2001. Now, many years later, it operates as one of the most popular online e-wallets for sports bettors to use for deposits and withdrawals. If you aren’t familiar with the payment method, then you may want to know more about it and how to use it for sports betting purposes.

In this guide, you’ll find out about the process to go through to sign up for a Skrill account, fund it and utilise it to deposit and withdraw to and from sportsbooks. Before we get to that, we’re going to look at the origins of this payment system.

Origins of Skrill

moneybookersThe Skrill brand was originally founded in 2001 in the United Kingdom. Its original name was Moneybookers, and it operated as a digital wallet provider. It didn’t take long for the company to establish itself as one of the top three electronic payment services in Europe, reaching that level by 2007. In that same year, it was purchased by Investcorp.

It was in 2011 that Moneybookers announced its decision to rebrand under the Skrill name, with that change completing in 2013. It was then that Skrill completed its acquisition of Paysafecard, an Austrian-based prepaid payment method. Skrill itself was then taken over by CVC Capital Partners for €600 million in August of 2013.

Two years later, the company was acquired by Optimal Payments, which also owned rival digital wallet Neteller. Within that period, Skrill itself took over the UK-based competitor to Paysafecard known as Ukash. In November of 2015, Optimal Payments chose to rebrand itself as Paysafe. By 2018, Skrill was also expanding its own services, launching international money transfers in February and then a cryptocurrency service in July.

Skrill has also entered the sponsorship world, first sponsoring the PokerStars European Poker Tour 2011 event in its eighth season and then again two years later for its tenth season. The National League of English football signed a one-year deal with the company in July 2013, and a four-year deal with AC Milan began in May 2020. Further to that, Skrill announced a partnership with Leeds United in March of 2021.

How to Use Skrill for Online Betting

skrill screenshot

To be able to use Skrill for your online wagering, you will need to first open an account with the company. This is done by visiting the website and signing up directly. Follow these simple steps to do this:

  1. Click on the purple ‘Register’ button in the top-right corner.
  2. Fill out the details on the registration form to open your account.
  3. Verify your email address via the message sent from Skrill.
  4. Login to your account and select the ‘Get Started’ button.
  5. Enter personal information, verify your phone number, and create a PIN.
  6. Add funds to your wallet via one of the various supported payment methods.

From there, you can utilise the money in your Skrill wallet to deposit at the online sportsbook of your choice. After registering at the site for an account, you can login and visit the cashier page to make your first deposit. To do this, follow these basic steps:

  1. Visit the cashier page and select Skrill as your preferred payment method.
  2. Enter an amount to deposit into your account.
  3. Input your Skrill account details when prompted to log in.
  4. Confirm the deposit and the funds will transfer instantly.

The same process is undertaken when you want to withdraw money from your sports betting account, too. As long as you are on the withdrawal tab of the cashier, you can request a withdrawal through this method. Transactions of this nature will usually be processed by a betting site within 24-48 hours, and then the funds appear in your e-wallet swiftly after.

Is Skrill Good for Sports Betting?

tick pro advantage positiveYou may question why you should use the Skrill payment method over anything else as a sports bettor. Well, the e-wallet does come with some perks that you can benefit from as a user. This includes the following benefits:

  • Easy Account Setup – It isn’t difficult to open your online e-wallet with Skrill and then fund it, which is ideal for sports bettors.
  • Top-Level Security – Gamblers always want their money to be protected. Through Skrill, you don’t need to supply the online bookie with your personal data, making the transactions much more secure.
  • Widely Supported Around the World – Skrill is popular because it has a worldwide presence at online sportsbooks. This means that many people can make use of its safe, quick and free transaction services.
  • Free Transactions – You won’t have to pay any processing fees for deposits or withdrawals at sportsbooks with Skrill in most instances. There may be a fee to pay for uploading money to the wallet in the first place, though.
  • Instant Deposits – Your money will transfer from your Skrill account into the online betting account straight away, allowing you to get started with wagering instantly. Withdrawals aren’t instant, but once the sportsbook processes your request, the funds should show up in your e-wallet within seconds afterwards.