WebMoney is an innovative online payment environment
WebMoney is an anomalous sports-betting payment method. It is both popular and flies under the radar. WebMoney is popular among gamblers in the sense that they’re an e-wallet, and e-wallets are one of the three most used payment methods at online gaming sites. But the company is also relatively unknown compared to the wider-reaching e-wallets from Skrill, Neteller, and PayPal. That doesn’t mean WebMoney isn’t right for you. It is just as universally available, and they claim to have over 40 million users. Your decision should come down to factors other than their name. Fortunately, we’re about to take you through all the most important ones.
This WebMoney guide will cover all of the following (plus much more!):
Unbeknownst to many, WebMoney is your typical, run-on-of-the-mill e-wallet. They function just like PayPal, Skrill, Neteller, etc. This is great news for sports bettors, since it means that they’re also made for completing international transactions.
WebMoney’s main difference? They’re a Russian company. The majority of the people they service come from there. They can still be used by people around the world, but their customer support works much better for people living in Russia, while the fees attached to transactions (more on this soon) are also lower.
Signing up for a WebMoney account is similar to registering with other e-wallets. Go to their website, enter the necessary information, choose how you’re going to fund your account (bank account or credit card) and then you’ll be good to go.
One note: You may have to wait a little longer than usual for initial deposits to hit your WebMoney account. A delayed processing time in that situation is perfectly normal. All subsequent deposits should take effect immediately, assuming you are using a recurring payment method.
There is no difference between using WebMoney and any other e-wallet at sportsbooks. You just need to check and make sure that your online gaming site processes e-wallet transactions. And this doesn’t necessarily mean you have to see the WebMoney logo on the deposit page. If they take Skrill, PayPal or Neteller, chances are they also take WebMoney.
After you select e-wallet as your preferred payment method, you’ll enter all the necessary account information. If for some reason your transaction isn’t instantly approved, that’s when you’ll want to contact customer service. Because while WebMoney is widely accepted, there are a handful of sportsbooks that take other e-wallets but not them.
Here is a list of our top five destinations for WebMoney users:
Contrary to many other e-wallets, WebMoney is in the business of charging customers a fee on every transaction. For sports bettors, this entails ponying up on both deposits to and withdrawals from your online bookies.
This will no doubt rub prospective users the wrong way. Paying to access or use your own cash is a nuisance. How can WebMoney get away with doing it when so many others can’t? Well, the fact of the matter is that being located in Russia helps them. Their primary customer base doesn’t have as easy access to other e-wallets, so they can afford to levy an extra charge.
Plus, it helps that the fee isn’t much. Every transaction will be docked a 0.8 percent surcharge, which cannot amount to more than the equivalent of roughly $55. That’s how they maintain the appeal of a global customer base. There may be a fee involved, but it’s capped at a reasonable rate, and WebMoney’s track record for processing transactions quickly allows them to charge for their services without turning too many people away.
Deposit bonuses are everything for online gamblers. After all, who doesn’t want free money? But these promotions are even more important for WebMoney users. As we just mentioned, you’re going to pay a 0.8 percent fee on both deposits and withdrawals. Essentially, if you finish in the green with your betting, you’re guaranteed to pay a fee on the same sum of money twice. Deposit bonuses can help offset those surcharges. As a rule of thumb, prioritize sportsbooks that offer to match 50 percent or more of your investments.
Security isn’t an issue when using WebMoney. They offer the same benefits as other e-wallets. Chief among them is your ability to centralize your financial information. Instead of entering bank account or credit card numbers at every sportsbook you use, you’re inputting that intel into WebMoney, which you then use to complete your transactions across the board. As far as protecting your information goes, e-wallets like WebMoney are the most effective safety measures for online transactions.
Fast Registration
Opening a WebMoney account is a self-explanatory process. The workflow is clearly labeled on their website, and so long as you have your payment information handy, you can fully fund your WebMoney account in just a couple of minutes.
Protect Your Most Sensitive Information
Gone are the days you have to input your credit card or bank account numbers into every site you visit. WebMoney automates that process by acting as your financial hub. They will store the financial information you provide and then you can process onlines transactions through them, so you’re not as vulnerable to fraud.
Slightly Inconvenient
The benefits of WebMoney betting sites, like any e-wallet, are overwhelmingly obvious. But this method in particular has its drawbacks. For starters, WebMoney isn’t accepted everywhere relative to other e-wallets. They’ll be taken at most places that process Skrill, Neteller or PayPal, but not all of them. That can be a hassle if you’re looking to use this across multiple sportsbooks. Beyond that, they also have a fee at both ends of transactions, whether you’re sending out money or taking in money. They only charge 0.8 percent, and their fee is capped at roughly $55, but that’s still cash out of your pocket.