Betting payment methods is one of the first topics of conversation when signing up on online betting sites. And in this article, weâll tell you about a few methods youâll find at the best betting sites.
Which Betting Payment Methods Are Used in Malawi?
Sportsbooks in Malawi offer various payment methods that are convenient for punters in the region. The most popular payment method is probably Mobile Money as that is also the most easily accessible.
You might also find betting sites with cash out that offer the same methods for withdrawal.
However, you can make your payments using any of the available methods. In our betting payment methods guide, weâll be listing a few methods commonly found at sportsbooks like Premier Bet.
However, this is just an example and the payment processes might vary based on the sportsbook. It might differ based on whether youâre using Paypal betting sites or other ones.
Vouchers
Using vouchers is one of the methods to fund your sportsbook account. As an example, weâll tell you about using voucher payments at Premier Bet in Malawi.
Before making a payment, vouchers need to be purchased. You can purchase Premier Bet vouchers from any of the physical shops of the sports betting company.
However, you might also be able to purchase them online for other sportsbooks.
Usually, a voucher must be redeemed within 30 days or fewer. The validity date will be mentioned on your voucher slip for future reference.
You can make the deposit using your account. To do so, log in to your account and enter the âDepositsâ section and select the voucher option.
You can also claim any bonuses, if available, at this point. Afterward, enter your voucher code to complete your payment.
Mobile Money
There are multiple mobile money methods for payments in Malawi. This method is very popular in many South African regions.
At Premier Bet in Malawi, you can use mobile money betting payment methods such as TNM MPAMBA and Airtel Mobile Money.
To deposit at Premier Bet using TNM MPAMBA, you first need to dial *444#. From there select Payments> Betting > Premier Bet and enter the deposit amount.
The minimum you have to deposit is 300 MWK and you canât deposit more than 150,000 MWK at a time.
After you confirm your amount, you need to enter your PIN and the transaction will be completed.
You can also fund your account on online betting sites via the betting payment method Airtel Mobile Money. You can make deposits directly from your account using this method.
To do so, you need to log in to your account and head to the âDepositsâ section. From there, select Airtel Mobile Money as the payment method.
Afterward, you just need to select the amount and complete the security check. The funds should reflect in your account immediately.
Crypto Currency
From what we have found, Premier Bet doesnât accept crypto as a form of payment. However, there are other sportsbooks that do accept it.
To fund your account on any of the online betting sites using crypto, all you have to do is have your crypto wallet set up on your betting account.
Afterward, you can make deposits from your account directly.
Cards
Cards are an available method for deposits at most sportsbooks in Malawi. However, it is not the most popular method.
To be able to pay with a card, you need to have it set up previously on your account. Afterward, you can select your bank card as a payment method from the âDepositsâ section and make your payment.
How to Choose the Best Betting Payment Method?
When youâre going through betting payment methods, you should pick one that is most convenient for you. Particularly in regions like Malawi, not all of the payment methods might be available.
However, in this section of our review, weâll be listing a few tips on how to pick the best betting payment methods.
Availability
Availability is a very important part of any of the sports betting methods. Sportsbooks often provide bank transfers and bank cards as payment methods.
However, some payment methods are more popular than others in certain regions.
In South Africa, mobile money payments are the most common and probably the most popular method to fund an account.
So, we recommend signing up with a sportsbook that offers betting payment methods that are available to you.
Minimum and Maximum Deposits/ Withdrawals
The sportsbook should also mention the minimum and maximum deposit amounts. If the minimum deposit amount is too high, some punters might have issues meeting the requirements.
The same would apply to the maximum withdrawals. Except for jackpots, most sportsbooks will have a similar limit for withdrawals.
When selecting the best betting payment methods, these are some of the things that punters should keep in mind.
Security
Having a secure payment method is very important to protect your own information. When selecting from the betting payment methods, make sure to pick the more reliable ones. In these cases, bank transfers and cards are safer.
And you shouldnât share your payment information with anyone. The sportsbook is not likely to ask you for any personal information in regard to your payments.
Processing Time
Of course, instant deposits and withdrawals are preferred by most punters. And luckily, most local sportsbooks offer mobile money payments. And these payments are instant for both withdrawals and deposits.
Sometimes, bank transfers require a few hours up to a few days. So, using a payment method that requires less hassle is much better for most punters.
Additional Fees
Sometimes, sportsbooks take an additional fee when punters make a large withdrawal. And payment providers might also charge a service fee or transfer fee.
But there are plenty of payment methods that do not require any fees. And depending on your preferences, you should check out the fees before selecting a payment method.
How to Make a Deposit on the Betting Site in Malawi?
Making a deposit on any betting site in Malawi is going to be very similar. The basic concept of making a deposit is the same with slight changes. It will also apply to betting sites with cash out.
Before you make a deposit, you need to first create an account. And for that, you also have to be at least 18 years old.
Depending on the betting payment methods you use, you might also have to set it up on your account.
The sportsbook will mention the minimum and maximum amount for you to deposit. To fund your sports betting account in Malawi, you can use the following steps:
- First, login to your account and go to the âMy Profileâ tab.
- From there, go to the âDepositsâ tab and select the payment method you wish to use. This should be set up on the account beforehand.
- Enter the amount you wish to deposit and enter a PIN if necessary.
- After you confirm the transaction, the funds should reflect in your account within a few minutes.
How to Withdraw Money from the Betting Site in Malawi?
To make withdrawals from your betting site in Malawi, you might have to go through a few more steps. A lot of sportsbooks require you to verify your identity before youâre allowed to make withdrawals.
To verify your account, you need to provide some information to the sportsbook. This information includes documents that can verify your identity and sources of funds.
The sportsbook might also ask for documents to verify your address.
If youâre planning on withdrawing a bonus, you might have to roll over the funds first.
This entails meeting the wagering requirements by using the funds to make a bet. You might also need to verify your account for betting sites with cash out.
The overall process of making a withdrawal from any betting site in Malawi will be very similar. And to make your withdrawals, you can follow these steps:
- Login to your account and enter the âMy Profileâ page, where you can find âWithdrawals.â
- Select a withdrawal method and enter the amount you wish to withdraw. Make sure that you have enough funds in your account for the withdrawal.
- Once you confirm the transaction, the sportsbook will send the funds to your payment wallet.
Usually, most sportsbooks recommend that you use the same betting payment methods for withdrawals that you used for deposits.
Online vs Offline Betting Payment Methods
You can sometimes fund your account offline and make withdrawals as well from your online account.
Usually, online payment methods are much more convenient since you can do it right from your phone.
However, there might be additional charges incurred for online payments. This depends on the betting payment methods that you use on Paypal betting sites and other similar ones.
On the other hand, offline payments at a physical shop for a sportsbook usually do not require an additional charge.
Whichever method you use, depends on what your preferences are. But both online and offline betting payment methods have their own pros and cons.
