Beginner’s comprehensive guide to Sportsbet payment method

Bet on sports events at Sportsbet.io and win cryptocurrency or Japanese yen. It is a worldwide leading bookmaker with coverage of all major league sports and the availability of generous promotions. Start your journey now with a bankroll by making a deposit using any of the supported payment methods. 

Transferring funds to and from your Sportsbet.io account is easy. Everything you need is on the wallet page with a robust set of features for making deposits and withdrawals alike. Let this guide teach you how they work:

How can I add funds to my sports betting account? 

Sportsbet payment methods are highly optimised for all crypto transactions. You can transfer funds using any wallet as long as it supports the same networks as the website. For the best experience, Sportsbet.io listed wallet suggestions based on their quality of service and compatibility with the bookmaker. These are:

• MetaMask
• Coinbase Wallet 
• Wallet Connect

When using Ethereum (ETH), you have a list of supported extension wallets that you can link with your Sportsbet.io account. Doing so gives you the option to seamlessly transfer funds between your bookmaker wallet and your choice of third-party storage. All fees and terms of services involving Sportsbet.io remittance apply to this method as well.

For non-extension wallets, you may refer to the peer-to-peer (P2P) payment method. It is also found on the deposit options page and it consists of a QR code and a generated wallet address. If you are using a wallet app from a mobile device, simply scan the QR code as the recipient of the funds you’re about to send.

Note: Generated QR code and wallet addresses will be different per network. Always double-check deposit details before sending digital assets.

You may click on the generated code to expand it, allowing you to type the code into a wallet from a different device per digit. Clicking on it also automatically copies the code into your clipboard, allowing you to paste it anywhere, even outside of Sportsbet.io. Use this to simply paste your wallet address as the recipient on your preferred wallet app. 

How do I use Bitcoin to deposit funds at sports betting? 

Every digital asset can have varying network options. Bitcoin (BTC), for example, can’t be transferred using extension wallets that Sportsbet.io supports for ETH and USDT. It can only be transferred using blockchain P2P remittance methods. 

Sending Bitcoin to your Sportsbet.io wallet is similar to other Bitcoin transactions. If you’re using a wallet app from a separate mobile device, then simply scan the QR code to get your Sportsbet.io wallet address and make it the recipient. For wallets you’re using on the same device that Sportsbet.io is logged in, copy the generated wallet address and paste it as the recipient on the other app.

Sportsbet.io also supports the Lightning Network that runs in the Bitcoin blockchain. This gives you a different payment method for transferring BTC. Rather than giving you a QR code or wallet address instantly, it first asks you to determine how much you want to transfer in Satoshi (SAT), the lowest BTC denomination.

Indicate an amount then click on ‘generate a deposit request’. This generates a new QR code and wallet address that is different from the normal Bitcoin network. Use this method if you want to use the Lightning Network which enables more uses for BTC.

What are the payment methods available at Sportsbet?

Sportsbet.io is primarily a crypto bookmaker with plenty of payment support for digital currencies. What’s great is that it also offers support for deposits and withdrawals in Japanese yen. 

To learn more about these payment methods, here’s a quick overview of your options:

Crypto 

Cryptocurrencies can be deposited in two ways. The first is P2P as discussed with USDT and BTC where you send crypto from your wallet and your Sportsbet.io wallet address is the recipient. The other is to buy digital assets using third-party payment services. 

The list of supported payment methods for buying crypto is different per region. Here are the available options in Japan:

• Bitinvestor (credit/debit card)
• Apple Pay or Google Pay
• Bybit
• Binance
• Blockfinex
• Bitflyer

Fiat

The sole supported payment method in Sportsbet.io is the Internet Banking Method. This is subject to change as the bookmaker services are updated. Upon choosing it as a method, it will take you to follow a few simple steps as follows:

• Input how much money you wish to deposit.
• Provide your first and last name to set up a payment method.
  • You can toggle it to save your credentials for easy payment next time. That means you won’t need to input the next steps like inputting credit card credentials.
• Choose from one of the many supported payment methods at Internet Banking Method. 
• The next step depends on the payment method you choose but it involves sensitive information like your banking or card information. There are also prepaid options like convenience store kiosks but the options may vary with policy updates.

Can I convert my winnings from cryptocurrency to fiat currency?

Unfortunately, you cannot convert your crypto winnings into fiat on Sportsbet.io. What you could do is withdraw your winnings to a personal crypto wallet and then sell them at an exchange. Sportsbet.io’s third-party exchange partners can only help convert fiat deposits to crypto, not the other way around. Therefore, your crypto-to-fiat conversion will follow these steps:

1. Withdraw cashable crypto funds in your Sportsbet.io wallet.
   • Go to your wallet by clicking on your balance under your account name.
   • Click on the active currency to switch to the crypto you wish to withdraw.
   • Click the ‘Withdrawal’ tab then choose one of the listed methods.
   • Input the amount you wish to withdraw then click ‘continue’.
   • Fill in the credentials asked for like your wallet address then send. 
2. Find an exchange and sell your crypto there
   • Sign up at an exchange that accepts the crypto you wish to sell and payment options that can transfer fiat funds to your bank or e-wallet. 
   • Access your crypto wallet carrying your crypto winnings and send it to the exchange via P2P.
   • Set an order on the exchange to sell your crypto for a preferred fiat currency. 
   • Wait for funds to reflect on your exchange balance. 

Remember that this is a multi-step process so you’ll be paying transaction fees before eventually receiving your funds in fiat. Conversions depend on the asset’s current market value which can change rapidly. Sportsbet.io withdrawals can take between minutes to hours but it will always refer to the time you made the transaction.

Limits and fees

All Sportsbet.io payment methods are provided by third parties. Maximum limitations on transactions or fees per request will be dictated by their policies. Sportsbet.io does not impose any limitation or charge fees per transaction so all expenses are paid to the third-party providers.

Limits and fees are subject to change as policies are updated. Factors include market trends, international laws on offshore transactions, and regulatory frameworks for cryptocurrencies. Changes in terms of services from companies behind e-wallets, exchanges, and blockchains will reflect those updates. 

Minimum and maximum deposit

There is no maximum limit to Sportsbet deposits for cryptocurrency, allowing you to set a bankroll that is as high as you wish. However, there is a minimum deposit limit for each payment method. 

Here’s a table that shows the lowest amount you can deposit to your Sportsbet.io wallet:

All minimum limits listed are fixed per currency but the transaction fee is not yet factored in. They may change with your choice of payment method. The Japanese yen, however, has a maximum deposit amount of ¥1,250,000.00

Minimum and maximum withdrawal

Sportsbet.io does not have an imposed maximum withdrawal limit for any cryptocurrency. However, there is one for the Japanese yen which is ¥7,000,000.00

Your choice of payment method can also impose a limit and it’s often lower than the bookmaker’s standard. Here’s an example:

• Internet Banking Transfer maximum withdrawal = ¥2,500,000.00

As for the minimum withdrawal requirement, there is a limit for every payment method. Here’s a table showing the lowest rates of each currency you can transfer out of your Sportsbet.io wallet:

The limitations written above are only Sportsbet.io’s rates for all withdrawals. It does not yet factor in transaction fees and conversion rates from third-party solutions providers. 

What should I do if my payment transaction fails?

There are many reasons for a transaction to fail. One of the most common is internet disconnection while the transaction is still being processed. Once your internet is restored, refresh your website to see if the transaction has failed or been completed. If it fails, check if it’s returned to your Sportsbet.io wallet balance.

Failing transactions can always be raised to the site’s customer service. You may contact Sportsbet.io's live chat or email regarding this issue. Also, send a copy or a screenshot of the transaction details and wait for a response. The customer service representative can also ask for additional information to verify the transaction and validate your account. 

Other reasons for a failed transaction can be caused by the chosen payment method. In this case, you may raise the issue with the payment solutions provider that you chose. Send them a copy or screenshot of your transaction requests and follow their instructions. This applies to third-party exchanges when you buy crypto and bank transfer options for fiat deposits. 

Factors to consider when choosing a payment method at Sportsbet

Sportsbet.io forms partnerships with many payment providers for wider options. Choose whichever services you prefer and enjoy sports betting knowing that you are cared for by the best and secure brands. 

How do you choose from among Sportsbet.io payment methods? Simply consider the following factors:

Reputation of the payment method

All businesses have a reputation to maintain because it reflects the quality of their services. Visit review websites or consult with other gamblers. See which ones they recommend the most. This is especially helpful if you are asking veteran bettors who have tried multiple payment methods. 

Deposit and withdrawal fees 

Fees refer to the price you have to pay when you use a service. Cryptocurrencies also have fees because the blockchain requires gas for every action you make. How much it costs depends on the network you’re using or what new layer 2 plugins are installed in the network to help with scalability. Thus, answers vary with each fork on the blockchain.

Fiat payments also have transaction fees coming from your choice of payment methods. Their rates are typically fixed but are still subject to change when they update their terms of service. Sportsbet.io will show you their current rates while you’re making your payments to help you choose which one is the best. 

Customer support and its reliability

If you’re using crypto, then the customer support you can contact should be the third-party wallet you use for transactions. They should have channels where you can submit a ticket. 

Some can be contacted through email while others can direct you to the community platform where you can find solutions to other’s concerns that are similar to yours. If you can’t find one, then submit your issues in public together with the transaction details. Moderators on these pages representing the payment providers will be with you shortly. 

Availability in your region

Not all payment providers that the bookmaker is partnered with will be available to you at all times. This happens because Sportsbet.io sorts your payment options automatically based on your jurisdiction. 

If a payment provider does not offer services to customers in your area, their platform won’t be among your options. In this context, this means every option presented to you is a good option. However, you should also consider if the payment option will still be available if you travel outside the country.

This is a common concern for fiat users because some bank and e-wallet options are restricted by their limited licence to operate. The same can be said for when you’re buying crypto using fiat on Sportsbet.io’s third-party exchanges. Crypto P2P, on the other hand, is a borderless payment method so they’re not subject to the same limitations. 

Bonuses and promotions tied to the payment method

Sportsbet.io offers all kinds of fun bonuses and they change occasionally with new offers waiting for you to claim them. Most of them apply to deposits of all supported currencies. However, there are some days when a bonus for Sportsbet.io currency recommendations is offered and these are great opportunities to claim fun rewards. 

Frequently Asked Questions

Some of the most frequently asked questions about Sportsbet.io payment methods are: