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All sports betting payments available in Australia 2024

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Reviewed by Dasha G.

If you’re playing at an online sportsbook, you are going to need to top up your bankroll at some point. And this is where secure betting payment methods are a must. 

We’re going to look at payment methods at betting sites in Australia and cover the pros and cons of each payment provider. Learn what to look for to find your perfect betting payment options.

Making sports betting payments in Australia

If you’re starting your journey playing at online betting sites, you’re going to need to know the different betting payment methods on offer. Get ready to discover what is the best payment method for you!

PayPal logo
E-wallet

PayPal

Popular for secure deposits and fast withdrawals, it’s available at a growing number of betting sites in Australia.

Poli logo
E-wallet

POLi

One of the top Australian betting payment methods, POLi gives you secure transactions with very low fees. You just can’t use it to withdraw. 

Apple Pay logo
Mobile wallet

Apple Pay

A great option for iOS users that enables credit and debit card payments without providing those details to the sportsbook.

Paysafecard logo
Prepaid card

Paysafecard

 A top digital payment provider, it offers fast, secure deposits in an efficient manner.

Skrill logo
E-wallet

Skrill

Strong eWallet option that gives speedy, safe transactions for both deposits and withdrawals.

Neteller logo
E-wallet

Neteller

A hugely popular eWallet, it’s got safe, secure payments for both deposit and withdrawals.

Bank transfer logo
Banking

Bank transfer

Moving money with a bank transfer is probably the safest option as you can do so directly from your bank account to your online betting account. Withdrawals can take a while though.

Bpay logo
Banking

BPAY

Similar to bank transfers, this is a very secure option direct from your bank account. You can only deposit funds, you cannot withdraw.

Best betting payments at AU betting sites 

As you get more familiar with the different betting payment options, we’re going to take a look at the best sites based on which have the widest range of popular betting payment methods. 

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1
Colossal Bet sportsbook review
91/100 Payments rating by Elena I. 89% Playscore based on Great racing products
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  • Excellent horse racing odds
  • Great range of payment methods
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6 payment methods

Visa
Mastercard
Bpay
PayID
Bank Transfer
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2
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  • Easy to use site
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5 payment methods

Visa
Mastercard
Bank Transfer
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POLi
3
PalmerBet sportsbook review
87/100 Payments rating by Elena I. 80% Playscore based on Family-run bookmaker
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  • Good Aussie league odds
  • 25 sports on offer
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7 payment methods

Visa
Mastercard
Bank Transfer
Bpay
PayID
PayPal
POLi
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85/100 Payments rating by Elena I. 91% Playscore based on Most sports markets on offer
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  • 39 betting markets
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Apple Pay
Visa
Mastercard
Bank Transfer
Flexepin
Google Pay
Maestro
PayID
PayPal
paysafecard
POLi
5
Picklebet logo
Picklebet sportsbook review
80/100 Payments rating by Elena I. 86% Playscore based on Niche esports markets
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Mastercard
PayID
POLi
Bank Transfer
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Visa
Mastercard
Bank Transfer
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Cash
POLi
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Mastercard
Bank Transfer
PayID
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Visa
Mastercard
POLi
Bpay
Cash
Bank Transfer

As you can see, top sites will try to have the best betting payment option. And, they will have a wide array of payment methods so that you can choose the one that meets your needs the best. 

Comparing betting sites and their payment methods 

As you are no doubt aware, there is an array of different bookmaker payment methods. If you’re new to this, it might be a bit overwhelming. For this reason, many of us actually pick one deposit method and stick to it through thick and thin. But what if your favourite site doesn’t offer it? How do you figure out where these payment methods can be found? 

Well, we’ve created this handy chart so that you can look through and see which online betting payment solutions our four top sportsbooks actually offer. Because you can never guarantee that a specific payment option is available at a sportsbook, we’re reducing that irritation right here and now. Take a look at which payment options these four top Australian bookmakers offer you. 

A woman looking at payment method options on a mobile screen.
Payment methodbet365BetfairNedsLadbrokesSportsbet
PayPal✔️✔️✔️✔️✔️
POLi✔️✔️✔️✔️✔️
Apple Pay✔️
Paysafecard✔️
Skrill✔️
Neteller✔️
Bank Transfer✔️✔️✔️✔️✔️
BPAY✔️✔️✔️✔️

How to choose the best payment method at betting sites

So, with some more understanding of payment methods, how do you choose the best online betting site for payment methods? Well, we rate each one using specific criteria that we have outlined below. Take a look and get to grips with our scoring system.

Bet Limits symbol with sports elements and a mobile phone screen

Deposit and withdrawal limits

When we look at sites with the best betting payment methods, it’s not just about the payment options on offer. One of the main things we check are the limits of each payment type. After all, you don’t want to have a variety of online payment methods only to be thwarted by the amount you can actually deposit. When depositing cash, we like to see a minimum limit of around AU$10 for us to give the site a good score. If the minimum deposit is around AU$50, then this gets a much lower score. At the upper end, we want to see high limits or even no limits in place for deposits for a good score. Low max limits also get scored down. This process for scoring is the same for withdrawals.

A laptop screen with sports elements and a ticking clock

Transaction speed

Now, as you may know, not all payment options have the same transaction speeds. So, what we look at here is the fastest transaction times offered by the betting site for payments. For us, we want to see speedy transactions. Instant deposits should be readily available across a wide array of online banking payment options such as PayPal, debit cards and so on. Similarly, we want to see at least one withdrawal method offering payouts in under a day. Failing that, good scores go to sites with payment methods offering a maximum withdrawal time of 2 days. Anything longer than that across the withdrawal method options and we’re going to give a much lower score to the online bookmaker for payment speed. 

Money being put in a wallet

Charges

Next up we have transaction fees. Essentially, we don’t want to see any fees in place for any of the withdrawal or deposit methods. There can be a transaction fee in place for the different payment options that come from the providers themselves (for instance a PayPal account tends to have fees embedded). But this does impact the score we give. Most payment gateways have low to no fees in place and this is why we give sites offering these methods higher scores. Neteller and Skrill for example do have small fees in place if you transfer funds from your eWallet account to your bank account. Debit cards can also incur fees when used as a withdrawal method as can credit card withdrawals. Weigh these up before you settle on the payment method at your online bookmaker. 

A green checkmark, a mobile phone, and a keylock on a pin

Safety features

As you’re going to be making payments to the sportsbook, it’s imperative that you can do so in a safe and secure way. The first thing we check here is whether there is a licence in place. If there is, and it’s from an Australian jurisdiction, then it gets a high score. No licence is a fail for us and we won’t recommend you play here. After that, we look at the SSL encryption protocols. This should be a minimum of 128-bit to ensure your personal and banking information is kept safe. After all, you don’t want your bank account details to fall into the wrong hands. And, we also look at the online banking methods themselves. 2-Factor Authentication and fraud detection are musts if you’re going to use that payment method. 

A finger pointing to a menu on a mobile phone screen

Accessibility

It’s great if your bank account details are safe, you’ve got the perfect payment method on hand and there are tons of sports at the online bookmaker, but what if that payment method is simply hard to use? Many do not consider the ease of use of a payment method, but we do. When you pick a betting site, you should look at the layout and how easy it is to find and use a specific deposit or withdrawal method. Similarly, with the method itself, you should be looking at just a few minutes to make and approve transactions. Take a look at the overall interface and see if there is a mobile betting app that you can use for even easier online banking. 

Thumbs up next to a mobile phone screen and a green checkmark

Availability at AU betting sites

So, you’ve got your preferred method for payments and want to transfer funds, but can you always do this easily? Not always is the answer here as many payment options are not always readily available on Aussie bookies. With that in mind, we check to see how available the different payment gateways are so that you can transfer funds easily. Preferably, you should be looking at one that’s available at most sites such as PayPal deposits, BPAY, VISA credit or debit cards, prepaid cards, instant bank transfers and so on. Other options such as Neteller and Skrill are less widely available in Australia, which makes it sensible to look at other ways to make a payment first.

How to deposit and withdraw at betting sites

Once you’ve found where you want to play, the next step is to actually make a deposit. So, how do you do that? In the next section, we’re going to show you exactly how to get set up with your preferred deposit method. 

Not only that though, if you’re lucky enough to win, then you’re also going to want to withdraw funds. With that in mind, we’re going to run through some of the available withdrawal methods and how you can claim your winnings. 

  1. Sign up for an account at an online sportsbook.
  2. Go to the banking section and pick your favourite payment method.
  3. Deposit money by following the steps outlined for your chosen payment option.
  4. Check if the deposit entitles you to any bonuses like free bets and input a bonus code if needed.
  5. Make sure you go through the KYC process and provide verification documents.
  6. When winning, go to banking and select withdraw funds.
  7. Make sure your chosen deposit method can be used for withdrawals.
  8. If not, choose an alternative option.
  9. Make sure you have fulfilled any wagering requirements.
  10. Follow the steps outlined by the sportsbook to withdraw your winnings.

Betting payment method types — a closer look

Still with us so far? Now it’s time to look at the actual payment methods in more detail. With our help, you’ll find out which are the best betting payment methods for your needs. So, without further ado, let’s dive right in. 

Debit and credit cards 

Typically, you can always find credit and debit cards accepted at most online sportsbooks in Australia. You may find that credit card transactions might have stricter limits than those in place for debit cards. And, you may find there are fees in place for using credit cards whereas there aren’t for debit users. You will need to confirm limits and check fees before using these options. 

As we have touched upon, a debit card from VISA or Mastercard is generally the preferred way to go. It has higher limits and does give you instant deposits. You also do not have to dispute transactions later as they all happen right away. Additionally, they’re good for ensuring you stick to your budget as you can only spend what you have in your bank account. 

  • Fast processing time.
  • Widely available.
  • Very secure.
  • Shares bank account details with sportsbook.

eWallets 

There are a growing number of eWallets out there and these remove the necessity of providing your online bank account details to the sportsbook. They act as an intermediary so your payments are kept much more secure. There are also some popular eWallet providers such as PayPal, Skrill and Neteller, all of which can be accessed in Australia. Google Pay and Apple Pay also come under this umbrella. 

The main reason for using a Skrill or PayPal account for payments is that they’re easy to use. You also get instant deposits if you use an eWallet as a deposit method. Many betting sites accept PayPal and other eWallets too, which makes it very accessible. Additionally, you’ve got great security and you can even claim fast withdrawals if you do get some winnings. 

  • Fast deposits 
  • Speedy withdrawals 
  • Stay anonymous
  • Not eligible for free bets 

Bank transfers

You can also use bank transfers to make deposits and withdrawals at many Aussie sites. This is one of the better options for the high rollers out there as bank transfers tend to have much higher limits in place. You also just transfer directly from your bank account to the online bookie with no intermediary – when you have the funds available, they will be sent. 

However, although transactions can be swift, you sometimes won’t even get instant deposits. Withdrawals also take time and it can be up to five days before a transaction is processed and the funds appear in your bank account. The flip side to this is that there is very strong security in place which means all your transactions are very secure. For many, this plus outweighs slow transaction times. 

  • Widely available in Australia 
  • Very secure 
  • Few restrictions
  • Slow processing times 

Unregulated payment methods in AU — to be avoided!

So, before you go, let’s take a look at the payment options that are currently illegal in Australia.

Most importantly, a 2024 ban on the use of credit cards for online betting payments prohibits you from paying with popular options like Visa and Mastercard.

Additionally, it’s illegal to use cryptocurrencies when placing bets. This may be confusing as they’re legal across other transactions within the country. You can, of course, get access to offshore crypto-betting sites, but we don’t recommend it. 

Cash payments over AU$ 10,000 are also not permitted. As you’re going to be playing online, most likely, this is not going to affect you so much. However, if you do choose to visit one of Australia’s land-based casinos or sportsbooks, then you will need to consider this when it comes to making that initial deposit. Make sure you’re always playing above board to avoid disappointment.

FAQs

How do you pay for betting?

There are many payment options you can use to deposit funds into your betting accounts in order to start playing. The payment provider you choose really depends on you though. For instance, you can get a Neteller account or use PayPal or Skrill if you want an eWallet. Alternatively, you can use a credit or debit card from VISA or Mastercard. Finally, there are prepaid cards, bank transfers, electronic payments such as BPAY and more. The choice is yours! 

What is the best betting payment method for Aussie punters?

This is a hard one to answer as everyone has different preferences. Luckily, Australian betting sites tend to have an array of payment providers on hand. If you want fast transactions across the board, then PayPal deposits are a good way to go for instant deposits. However, for those who prioritize security, then the best betting payment method is something like BPAY or bank transfers. 

How do you deposit money into your betting account?

Most bookmakers have a large number of deposit methods available. Additionally, most deposits will appear in your betting account immediately. All you need to do is go to the banking section, choose your preferred method to deposit cash and fill out any details required to make the payment. Once you have confirmed you want to deposit money, it will appear in your account right away for you to use to place bets and claim any bonus like free bets. 

How do you withdraw money from a betting site?

As there are numerous withdrawal methods available at Australian betting sites, withdrawals are actually very easy. Simply go to the banking section once you log in and see which options are available for withdrawing funds from winning bets. Select your preferred payment method and type in the amount you would like to withdraw. Enter any payment or bank details as requested by the bookie and confirm the transaction. 

What is the safest betting payment method type?

There are a number of really safe online betting payment methods available. However, if you want the maximum level of security, then bank transfers probably take the top spot. This is because they have numerous encryption and security measures in place via your financial institution. That being said, all the different payment methods listed here are reputable and trustworthy. Which option you use is entirely up to you. 

Sources

  1. https://www.rba.gov.au/payments-and-infrastructure/payments-system-regulation/approach-to-regulation.html 
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