Generally, before you start using a bookmaker’s services, you will need to set up betting payment methods. In this guide, we help you to get started with deposits and withdrawals at some of the best betting sites in South Africa.



Which Betting Payment Methods are Used in South Africa?

Usually, modern online betting sites will give you various payment options so you can make deposits or withdrawals easily. However, some bookmakers have different payment options available for deposits and withdrawals.

South Africa Betting Payment Methods

Also, many have different minimum amounts and processing times. Below, our guide explains all the different payment methods available at South African online bookmakers.

Bank Transfer

Through a bank transfer, you can link your bank account details to your betting profile. Here, you will need to enter your bank details via your betting account and confirm. Once set up, you can send funds between your accounts.

The following sites accept bank transfers.

BookmakerDepositsWithdrawals
BetwayInstant / Minimum: R50 / Maximum: R1,0001-2 business days / Minimum: R50 / Maximum: R1,000.000
HollywoodbetsInstant / Minimum – Maximum – 24 hours / Minimum: R 100 / Maximum: R 3,000

Top Up Vouchers

Today, top up vouchers in South Africa, such as OTT and IVoucher, combine in-person and online betting. To use a top up voucher, you buy the credit from a retailer. Then, you use the digit on the voucher to send funds to your betting account.

You can use top up vouchers at these bookmakers.

BookmakerDepositsWithdrawals
BetwayInstant / Minimum: R50 / Maximum –N/A
HollywoodbetsInstant / Minimum: R10 / Maximum: R5,000N/A
Bet.co.zaInstant / Minimum – Maximum –24-48 hours / Maximum: R 20 000

EFT

Electronic Fund Transfers (EFT) are generally a quick way for bettors to send funds to and from an account. In addition, it is one of the safest payment options available, as you must be logged on to your betting account and your online banking profile.

These online betting sites allow EFT transactions.

BookmakerDepositsWithdrawals
BetwayInstant / Minimum: R50 / Maximum –1-2 business days
HollywoodbetsInstant / Minimum: R5 / Maximum: R199,99924 hours / Minimum: R50 / Maximum: R5,000
Bet.co.zaInstant / Minimum – / Maximum –24-48 hours / Maximum: R 20 000

Online Payment Solutions

Recently, online payment solutions have grown rapidly in South Africa and this also applies to betting providers. These platforms, such as Ozow, Peach Payments and Zapper, work as an online, virtual wallet.

Here, you can send funds to your bank account to your e-wallet and then on to your bookmaker. One of the big pros of using online payment solutions is the speed of transfers. However, at present, Paypal betting sites are not available for use in South Africa.

At the following platforms, you can use Online payment solutions.

BookmakerDepositsWithdrawals
HollywoodbetsInstant / Minimum: R5 / Maximum: R199,99924 hours / Minimum – R 100 / Maximum: R 3,000
Bet.co.zaInstant / Minimum – Maximum –24-48 hours / Minimum – Maximum: R 20 000

Cards

Using credit or debit cards remains one of the most popular ways for South African bettors to fund accounts. This is because it is a safe and secure payment option that requires different steps for verification.

Also, card payments are widely accepted among many online bookmakers today. Currently, these sites accept card deposits and withdrawals.

BookmakerDepositsWithdrawals
BetwayInstant1-2 business days
HollywoodbetsInstant24-48 hours
Bet.co.zaInstant24-48 hours / Maximum: R 20 000

Are Betting Payment Methods Safe?

Today, modern betting site payment methods are safe. All genuine bookmakers in South Africa are licensed under governing bodies, like the Western Cape Gambling and Racing Board.

As a result, all payments are legally protected, and players can wager safely through betting sites with cash out. Avoid any betting site online that does not have a valid license.

How to Choose the Best Betting Payment Method?

Generally, you can follow some rules and tips when choosing the leading payment methods at online providers. Some of the areas to look for are speed, user-friendly options, and support from the bookmaker.

Here are some of our top tips when selecting betting payment methods.

Speed

Firstly, one of the main things to look out for is the speed of payments at online providers. Ultimately, you want a site that processes deposits instantly, and that doesn’t take weeks to complete withdrawal options.

Also, find out how quick betting sites with cashout offer withdrawals. In addition, setting up your payment methods for deposits and withdrawals should be easy and straightforward.

Reliability

Having a reliable bookmaker that is safe and secure is also important when betting online. For instance, if issues occur with a payment, you want to be informed straight away. Alternatively, you might need to contact the customer support team to explain the problem.

Therefore, before joining a brand, check its customer service options to see if they are reliable. Also, look at the response time, if provided, so you know you can get help if necessary.

Multiple Options

In the world of online betting, some platforms offer more payment options than others. For example, some sites have several options, while others have two or three. Also, you are likely to notice that no PayPal betting sites are available in South Africa.

For some bettors, having just a few payment options is fine. Generally, a lot of bettors use the same payment method when using their accounts. However, other players might want to have a range of deposit and withdrawal options from their preferred bookmaker. Therefore, check that a site has all the payment methods you require before joining.

Maximum and Minimum Amounts

Lastly, look for the maximum and minimum payment amounts set by betting sites. Generally, you do not want a minimum deposit amount that is too high. Also, you want the minimum withdrawal limit to be fairly low, so you can transfer funds from your account when necessary.

How to Make a Deposit on the Betting Site in South Africa?

Making a deposit to a South African betting provider is usually quick and straightforward. Sometimes, sites will have their own deposit methods and process.

However, some general steps often apply, and we show how to make a deposit to your betting account below.

  1. First, you will need to log into your account.
  2. Second, head to your personal payment section. Sometimes, these sections can be found under deposit or withdrawal headings.
  3. Then, you will find a list of the betting brand’s deposit methods. Select your preferred option and proceed.
  4. Lastly, you can enter the amount you want to deposit and confirm. However, depending on the method, extra steps might be required. For instance, SMS or app verification may be needed.

How to Withdraw Money from the Betting Site in South Africa?

If you are ready to withdraw from your profile, you can follow the steps below as a general guide. Similarly to withdrawals, the steps might differ depending on the procedures set by your preferred bookmaker.

  1. To get started, head to your betting provider’s homepage or app. Then, log in to your personal account.
  2. Next, find your withdrawals section. This could be located under a general payments section.
  3. To proceed, select the withdrawal method you want to use from the options provided.
  4. Lastly, input your withdrawal amount and confirm the transaction. Be prepared to complete any follow-up steps on your mobile device or through a banking app if required.

Online vs Offline Betting Payment Methods

Recently, online betting has grown, and more bettors are using apps and the internet to make payments to their bookmaker accounts. As a result, fewer players are wagering in the store, but there are pros and cons to both options.

Firstly, there are some clear positives about payment methods online. For instance, deposits are often made instantly, and you can set up payment methods within seconds. Also, limits to deposit and withdraw online are quite low at most providers.

But, there are some pros to making a payment in person than online betting options cannot provide. First, payouts from winning bets are paid instantly offline and in person. In comparison, withdrawals can take days online.

In addition, you can pay by cash over the counter at a retail bookmaker. Furthermore, if you have any payment issues, you speak directly to a representative or manager.

Betting Payment Methods in South Africa FAQs

Sometimes, you might have questions about online betting sites, withdrawals, and deposits. To help with these queries, we answer some of the most common questions below.

How do payouts work in sports betting?

In sports betting, a payout is money you receive if your bet wins. To receive a payout, you must find a bet, set your stake and confirm a bet. Then, if it wins, you get your stake back, plus the winnings from the odds provided. However, if the bet does not win, you only lose your stake. Also, betting sites with cashout also offer in-play payouts while your match is live.

How do I load an OTT voucher?

Currently, South African bettors can buy an OTT voucher in person at 140,000 stores in the country. Then, you can use the money on the voucher to fund your account. Once you have money on your OTT card, you enter a 12-digit number and then select the betting account you want to deposit to. Then, the funds should instantly display in your bookmaker account.

How long do EFT payments take?

EFT deposits are instantly sent to your betting account. However, some EFT withdrawals can take between 1-3 business days.