Payment methods for betting in the Philippines

In order to bet on sports, it is important not only to choose the most reliable online bookmaker, but also to choose the most convenient payment system. After all, depending on your choice, the deposit and withdrawal can be both quick and easy or a complex and time-consuming process. In this little guide we will tell you about the most reliable payment systems available for sports betting in the Philippines and how to choose the online bookmaker with the fastest payouts.

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Best banking options for Filipino players

As soon as sports betting moved online, e-wallets became the leaders for deposits and withdrawals. Later, cryptocurrencies and bank transfers were added. These methods are recognized as the safest on the web. Gcash, PayPal, WebMoney, Qiwi and EcoPayz are in particular demand. Most Filipino online bookmakers accept payments through e-wallets without commission, but nevertheless, when withdrawing funds from the electronic payment system itself, the bettor will have to pay 0.8-5% for each transaction. 

The most popular account payment methods among Filipino bettors are:

• Gcash
• EcoPayz
• QIWI
• WebMoney
• PayPal
• PayMaya
• Cryptocurrencies

Generally, Philippine sports betting sites offer more than a dozen payment methods, each of which has its own characteristics. But before registering and betting real money, it is advisable to become more familiar with the features of each of them.

Gcash

GCash is the most popular payment method among sports betting fans in the Philippines. This payment system is distinguished by the fact that it accepts only local currency (PHP) for money transactions. Being the exclusive Philippine e-wallet it is naturally supported by many online betting sites of the country. Bettors can create a GCash account either on the official website or in the mobile app. The best part is that with the help of this e-wallet you can quickly and without commissions deposit and withdraw your winnings. Known for its popularity, GCash has great support from local banks, which ensures that there are no additional fees when using their services with GCash e-wallet.

EcoPayz

Since its inception in 2000, ecoPayz has proudly claimed to be one of the longest-lasting payment systems in the world. Headquartered in London, this international company has constantly evolved and expanded its offerings. Today, ecoPayz is a trusted partner for many online bookmakers in the Philippines due to a number of undeniable advantages.

The ecoPayz e-wallet is a reliable intermediary between online bookmaker and bettor, which guarantees full security of deposits and withdrawals. It compares favorably to its competitors due to its more loyal verification procedure and adaptability to the financial peculiarities of the Philippines.

QIWI

QIWI – This is an electronic wallet, which has recently become very popular among Filipino bettors. Its main advantage is the mobility and speed of transactions, as well as elementary registration, which requires only a phone number. Also, it is not uncommon when QIWI is used as an intermediary platform, through it you can transfer funds to another system or even a bank card. This e-wallet is comfortable enough, but its commission is rather high, so it is not very profitable to withdraw a large sum. Depending on the final method of withdrawal, the percentage can reach 5%.

WebMoney

WebMoney is another e-wallet, which is also very popular among bettors and gamblers in the Philippines. The main advantage of WebMoney is the presence of several options for input and output of funds, as well as the ease of registration, during which you only need to specify your passport data and cell phone number. Nevertheless WebMoney hides some data of its clients in order to protect their anonymity, that is why not all online bookmakers prefer to cooperate with this payment system. Another benefit of this e-wallet is that the commission for the money transaction is paid by the online bookmaker, not the bettor..

PayPal

PayPal is an international electronic payment system created in 1998. Since 2010, it has been officially operating in the Philippines. In the field of online sports betting, more and more Filipino users prefer to use PayPal for quick and safe deposits and withdrawals. The main feature of this payment system is the absence of commission costs, as depositing a game account with an online bookmaker using PayPal is without additional charges. This rule applies to all betting sites, where the services of this payment system are available.

PayMaya

PayMaya is one of the most widespread e-wallets in the Philippines, with more than 50 million users at the moment. These statistics prove PayMaya’s exceptional efficiency, which sets it apart from its competitors. The proof of its popularity is that many sports betting sites cooperate with PayMaya, offering users the convenience of making deposits and withdrawals. The withdrawal process at online bookmakers through PayMaya is a streamlined method that provides players with fast payments with minimal transaction fees. 

In addition, every bookmaker partnering with PayMaya provides even greater security through the use of SSL. The use of such exceptional software and specialized security measures also provides better protection of users’ funds.

Cryptocurrencies

Cryptocurrency has become a widespread payment method in the Philippine sports betting industry. Today, numerous online bookmaker sites provide this option, meeting a growing demand.

To stay ahead of the growing competition, a number of bookmakers and online casinos even offer special cryptocurrency bonuses. In this way, they aim to attract more new users, including punters who want to play big.

One of the key advantages of betting using cryptocurrency is their speed and convenience. With quick deposits and withdrawals and minimal transaction fees, Filipino bettors can enjoy secure financial transactions. In addition, the growing number of bitcoin and USDT games is increasing players’ interest in cryptocurrency betting.

How to choose a reliable online bookmaker with fast payouts?

Filipino bettors prefer online bookmakers that offer a wide range of bets, high odds, additional features (such as live streaming and viewing statistics), and reliable deposit and withdrawal methods. An important factor in choosing a bookmaker is also an extensive bonus program, as well as the speed of withdrawal of winnings.

Therefore, when choosing a reliable sports betting site with timely payments, you should pay attention to the following aspects:

• Legality – sports betting sites operating legally in the Philippines are more reliable than offshore bookmakers. Such sites are not blocked, and the presence of a valid license provides bettors with guarantees of money withdrawal. And if any disputes arise, players can contact the competent service to solve their problems.
• Speed of calculation of bets and withdrawal of funds – bookmakers with fast calculation of bets usually do not delay with the withdrawal of money as well. Nevertheless, for security reasons, when requesting a withdrawal of a large amount, an online bookmaker may request additional information for verification.
• Wide choice of payment methods – the number of deposit and withdrawal methods affects the popularity of the online bookmaker among users. In addition to the number of payment systems, the presence of PHP among the currencies for betting is also important. Playing for the national currency, users do not lose money on the conversion. Also players take into account the speed of crediting funds to the deposit, withdrawal time.
• Bonuses and promotions – players usually choose those betting sites that offer a large number of different bonuses and promotions that make the process of betting on sports more profitable. Fair wagering conditions for bonuses are also of great importance. We advise you to carefully study the terms and conditions of each bonus before claiming it.
• Competitive odds – this criterion helps to determine how profitable the offer of a particular bookmaker is compared to other betting sites. The higher the odds, the greater your winnings in case of a correct sports prediction.
• The quality of the pre match and live betting lines – the number of sports and the number of events on which you can bet – often determines the reliability of an online bookmaker. Also very important when placing sports bets is the availability of a variety of betting markets – the number of all sorts of outcomes and events that will occur during the match. 
• Professional support service – The support team of online bookmakers most often tries to answer user queries in detail, offers different options for solving the problem encountered and offers a wide range of ways to contact the technical support. The staff of top online bookmakers provide their services in different languages, including Filipino.

The best betting sites with the fastest payouts in the Philippines

Probably all online bookmakers accept deposits to your gaming account instantly. However, not all of them are also ready to pay out your winnings quickly. Most experienced bettors try to find the sports betting site with the fastest payouts before registering.

Usually the best bookmakers try to pay out your winnings within two hours, but there are also bookmakers that process withdrawal requests from a few minutes to half an hour. Sometimes it even takes only 1-2 minutes to withdraw money from your betting account.

We would like to draw your attention to our list of online bookmakers operating in the Philippines that pay out winnings almost instantly. Just a few minutes, and the money is transferred to our account, practically from the payment system you use.

• 1xBet
• 22Bet
• OkBet
• Melbet
• Betwinner
• 888sport
• 20Bet
• Bet365
• PNXBet
• Betway

What does the speed of withdrawal depend on?

The speed at which players receive their winnings depends on several factors. Primarily, it is influenced by the minimum and maximum limits for fund transfers. Restrictions often stem from specific payment systems, meaning that bookmakers offering a wide range of withdrawal options tend to process payouts more quickly compared to betting sites with limited banking options.

E-wallet accounts are the fastest when it comes to receiving funds. On the other hand, money transfers to bank cards and bank transfers are usually slower, taking anywhere from 1 to 5 days respectively. This delay is attributed to the conditions set by the issuing bank.