Since the advent of online betting there have been a raft of different payment methods that have come to the fore. Most people are still likely to simply want to take advantage of typical payment methods such as debit cards or bank transfers, but others will be keen to dig deep on their options and see what’s available. We still live in a world of cash transactions, so many punters like to find ways of using cash to pay for their betting needs. There have been a number of different ways of doing that that have become popular since the advent of online betting, so I’ll have a look at some of them here.
Whether it be getting a store card with bookies that have high street stores in order to be able to pay money into your online account at the same time as you pop to the shops or using a PayPal account to keep all of your transactions in the same place, there are numerous reasons why bettors might not want to use their main bank account all of the time. The PaySafeCard is another alternative that is mainly aimed at the cash-using market that I mentioned a moment ago, with punters having the option to put cash onto them by buying vouchers. That has pros and cons to it, of course, which I’ll explain in this piece.
Recommended PaySafeCard Online Bookmaker
Bet365 - £5 Minimum & Withdrawals
Bet365 are outstanding for payment options and this is also true when it comes to options for betting using cash vouchers like PaySafeCard. Bet365 were one of the first operators to accept the vouchers, which can be purchased with cash or cards in shops displaying a PayPoint symbol.
With a £5 minimum for deposit this is one of the lowest around and you can fund your account with vouchers up to £770 in each transaction too. Another real benefit here is the ability to withdraw if you have a My PaySafeCard account (see later), meaning you don't need to enter any bank details at any stage to withdraw your balance. Withdrawals are also set at a minimum £5 and go up to £2000.
Accurate as of February 2021 from the author’s experience and is subject to change and location. Customer eligibility is the bookmaker’s decision.
What Is PaySafeCard?
The simple summary of the PaySafeCard is that it is a prepaid voucher that allows you to make purchases and transactions online. Given that there are more than two hundred different payment methods available out there, having one that keeps things nice and simple can be a real bonus to some people.
That’s why PaySafeCard is becoming more and more popular with punters, because it allows them to know exactly how much their spending at any given time and to ring fence the funds that they want to use for their online gambling. It also means you don’t need to use a bank or eWallet to transact with your bookie online, although you will still need to verify your ID and address to bet online.
PaySafeCard has the flexibility of cash but the utility of a card when betting online. You can even get yourself a My PaySafeCard account (see later) to store your PIN’s in case you lose them.
How To Get A PaySafeCard Voucher
- Find a retailer that sells PaySafeCard, look for the PayPoint symbol, the same system used to top up ultities and pay for other services.
- Head along and buy one of the cards there in the form of a printed page with a 16 digit PIN and a QR code.
- They’re available in values of £10, £25, £50, £75 or £100, with £125, £150 and £175 being available at PayPoints
- You find a retailer who accepts PaySafeCards as payment and enter the sixteen digit number found on the card that you bought and the funds instantly will appear in the account
It’s that easy.
Cash Betting and Other Benefits Of PaySafeCard?
The key advantage of using a PaySafeCard over any other payment method comes in the fact that you don’t have to enter any of your own personal banking information when you’re making a purchase or funding a betting account. Obviously if you’re buying an item that needs to be delivered then you’ll have to put your address somewhere, but generally speaking you can simply enter the PaySafeCard’s sixteen digit pin number and make your purchase or, in the case of an online bookmaker, transfer your funds into your account. Although of course remember you need to verify your ID and address with a bookie in order to gamble online.
In this day and age of online fraud, where consumers can find their credit or debit card or bank details stolen from them through no fault of their own, it’s little wonder that so many people are happy to use the PaySafeCard system in order to avoid that sort of thing from happening. Protecting yourself from any kind of situation whereby you might find your personal funds compromised is always sensible and using a PaySafeCard for certain transactions is one of the best ways of doing that.
Another key factor here is that you can use cash rather than your bank balance to purchase a PaySafeCard, making life much easier for those that deal with cash on a regular basis. I used to work in a pub and would regularly get cash tips, so once I’d figured out my tax and national insurance contributions I would then have a large amount of cash money at the end of a working week that I wanted to use. Back then I would have to pay it into my bank, wait for it to clear and then buy things with it via my bank account. Had I known about the PaySafeCard system, however, I could’ve just bought myself a PaySafeCard with the cash and been able to use it straight away.
Other people simply don’t want their bets appearing on their bank statement, and PaySafeCard is brilliant for this. Even with the likes of PayPal, although you can’t see where the money is going you can still see a transaction on the accounts. With PSC this is all cash so no-one needs to be any the wiser as to what you use it for.
Fees and Other Disadvantages Of PaySafeCard?
There are some slight disadvantages to using a PaySafeCard, of course. One of the most obvious ones is that you need to research where you can buy one of the voucher and actually head out and do it. You can pick one up from the likes of WH Smith, McColl’s and ASDA, in case you’re wondering. You can head to the PaySafeCard website and enter your postcode to be presented with a list of venues near to where you live in order to find out where you need to go to get one, but you’ll still need to actually head out and do it.
Perhaps the biggest disadvantage of working with a PaySafeCard is that there’s nothing you can do if you lose one and you’ve not stored it. Let’s say that you head out to your nearest ASDA and hand £100 cash over to get a PaySafeCard with that amount on, head around the store and do the rest of your shopping before heading back to the car. When you’re transferring your bags into the boot of your car you don’t realise that the PaySafeCard you’ve just bought has fallen onto the floor. If that was a debit or credit card then you could simply phone your bank or provider and get them to cancel the card. When it comes to the world of PaySafeCards, however, you don’t have the same option – UNLESS you get yourself a My PaySafeCard account (see next).
Another thing worth mentioning in terms of disadvantages is that some online bookies will charge you a fee for using a PaySafeCard, although most won’t (including our recommended sites at the top of this page). That would mean that you don’t necessarily get the full amount of money that you put on the card, which you’ll need to bear in mind. In a similar vein, some bookmakers don’t allow you to take advantage of welcome offers or promotions if you sign up with a PaySafeCard (although most will, unlike eWallets).
Finally research how you will withdraw before using PaySafeCard. Some betting sites are registered to allow them to generate their own PSC pin numbers, effectively allowing you to withdraw in cash. Most will need you to register a separate eWallet, payment card or bank to withdraw, which kind of defeats the purpose in many ways.
The other thing you can do if you opt to get involved with the PaySafeCard system is get a My PaySafeCard account online. This allows you to collate all of your PaySafeCard PINs in the same place, which means that you can then dispose of the paper copies without fear of losing them. Instead of entering a sixteen digit PIN to pay for things online, you enter you PaySafeCard username and password, making life much easier and keeping things together.
Another advantage of using a My PaySafeCard account is that you can add several PINs together, meaning that you can make larger payments. Let’s say that you’ve set yourself a budget of £1,000 for your betting over the next month. You can buy ten £100 PaySafeCards from your local shop that sells them, load them all up into your My PaySafeCard account and then you’ll know exactly how much you have to spend in the coming weeks.
Every time you make a purchase with your My PaySafeCard account you’ll get points, which can be exchanged for rewards. These include the likes of a discount at place such as Steam Gaming and Skype, or to pay for things like League of Legends. If you recommend friends to use the My PaySafeCard scheme then you’ll get additional points once they’ve signed up. It won’t make a massive difference to your life, but it’s always nice to get stuff in exchange for your loyalty.
Alternatives For Betting With Cash
The most obvious alternative to a PaySafeCard if you’re mainly thinking of using it predominantly for betting purposes is a store card. I’ve written about these in far more detail elsewhere on the site, so I won’t overplay it here. However, it’s worth letting you know about the genuine alternatives that exist so that you can make an informed decision. I’m not talking about alternative like just using your debit card to pay for online transactions, either. I’m talking about the ability to use cash to put money into an online betting account on a regular basis.
The four main high street bookies are now offering store cards to customers who might want to combine their online accounts with bets that they make in real life. These are as follows:
As I say, I’ve written about these in far more detail on their own page, but it’s worth giving you a quick summary of what they offer and how they work. In essence, a store card will let you add money to your online account by going into one of the shops above and giving the teller your card and the cash you wish to pay with. If you’re a Betfair customer then the merger between Betfair and Paddy Power means that you can also go into a Paddy Power shop and pay money into your Betfair account in there, too.
The cards do much more than that, of course, essentially transforming your real-life betting into the equivalent of an online account thanks to the offers and promotions associated with them, but the most relevant thing as far as we’re concerned is that you can pay money into your online account using the card system. In certain instances you can then keep track of bets you’ve placed in person using your mobile app or computer, which is a great way of keeping up-to-date with what you’re up to.
Pros and Cons – Cash Cards vs PaySafeCard
There are plenty of reasons why you might consider getting one of the cards offered by the main high street bookmakers, especially if you’re the sort of bettor who like to combine placing wagers online with doing so in real life. Probably the biggest one as far as I’m concerned when it comes to this article is the ability to add cash to your betting account.
Cash cards also give access to some great features such as cash out of in store bets, added linked promotions and even the ability to track bets in a shop. Then again bets placed online funded by PaySafeCard do the same thing. The out and out major advantage of store cards however is withdrawals, which can be done in cash at any high street bookie shop. With PaySafeCard you will either need to withdraw to another payment method (defeating the object if you want to bet in cash) or withdraw back to PaySafe vouchers which themselves are more limiting than real cash.
In terms of paying for things using cash and remaining mostly anonymous, you’re not going to do much better than getting hold of a PaySafeCard and using it for your online transactions. Just remember than if you’re betting online, a portion of your information will need to given to your bookmaker of choice whether you like it or not, but you can keep your transactions away from your bank account at least.