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Singapore Sports Betting Banking Methods

You want to get started betting on sports like football or basketball, but want to learn about the best services available to deposit and withdraw funds from your sportsbook account. I’ve outlined the kinds of banking methods below and the most accepted methods within each category for service in Singapore. You will see that the most popular methods are generally available across each of the sportsbooks. If you are interested in understanding the transaction size limits for each method, these vary by sportsbook. In other word the limit for Skrill will be different at each sportsbook. I cover this on my page on high limit Singapore sports betting.

Entropay is essentially a virtual Visa card which is prepaid - meaning there is no credit check or application required. It allows you to pay instantly and privately so that you don’t share your financial information with the betting service, and your card statement won’t have a betting-related charge listed, but rather “Entropay”. Credit card providers in Singapore will not process transactions directly with sportsbooks so you need to add a this layer of anonymity.

You can load your virtual Entropay Visa by using an actual credit card, your debit card or with your bank transfer and funds can easily be paid back onto your Entropay virtual Visa for transfer back to your original funding source. If your funding source is a credit card, by using Entropay as the intermediary solution, you can avoid potential cash advance interest charges and you remove the ability for the local banking bodies to prevent where your funds are may land. Entropay is available in Singapore.

Skrill (MoneyBookers), Neteller and EcoPayz, are three of the names you may have heard for online payments and transfers. These are often referred to as e-wallets and work similar to the popular Paypal. Paypal unfortunately is not supported in Singapore for sportsbook purposes. With e-wallets, you can link a credit card or bank account as a funding source to deposit money into your sportsbook account, or conversely, use them to withdraw winnings. Skrill and Neteller bother serve Singaporeans well and support many currencies including the Singapore Dollar. Use these methods if you choose a SGD supporting sportsbook like 10Bet or MarathonBet. Either way, set your Skrill or Neteller account to the same currency as your sportsbook account to avoid currency exchange fees. EcoPayz is great if you prefer another currency.

The benefit of these e-wallet providers is that they allow you to move money electronically for very low fees, in very little time. Depositing money is nearly instantaneous, and withdrawals are often processed within 48 hours at most sportsbooks, sometimes, within 24 hours.

Another massive selling point is the anonymity these e-wallets provide. As Singapore imposes more restrictions on online betting, they may restrict direct Singapore-based transfers or payments to betting sites. When you use an e-wallet based outside of Singapore like all of these listed you will, you help your ability to continue betting as the e-wallet acts as an intermediate layer over which the Singapore government has no control. By using these payment methods, you also add a layer of anonymity to banking or credit card statements as the e-wallet will display as the line item rather than the ultimate destination of the funds most likely your sportsbook of choice, but of course these e-wallets may be used to pay for other things online.

An additional benefit of some of these e-wallets is their ability to allow you to access their service from your smartphone or mobile device. Additionally, most of these e-wallet providers allow for transaction sizes large enough to accommodate the needs of almost every bettor. All of the above should be available for use in Singapore.

You may wish to play with a sportsbook that offers Western Union or MoneyGram transfers. If so, you’ll want to use cash as opposed to a credit card or other transaction type that could link your interaction within Singapore to the address of the offshore sportsbook.