Electronic Funds

If you have read the introduction in detail, you would have noted that one of the problems encountered when gambling in this manner is that only one of our outcomes chosen will be a winner, while the others would be losses. As a result, one of our accounts with a chosen bookmaker would increase while the others would decrease.

This raises the need to be able to move funds quickly and in real time between accounts from one bookmaker to another. We can use credit cards, which in fact are almost indispensable with some bookmakers, but many accept deposits through other systems like electronic funds or "wallet”.

The one critical element is to have a valid e-mail address, after which, once the funds are deposited (by cheque, bank transfer or credit card), the transfers (deposits and withdrawals) will take place in real time.

Transfers are done through e-mail, hence the e-mail we use to register with the operators of the virtual funds must be the same one used to register with the bookmaker.

The following are a few key operators of electronic funds.


Moneybookers/Skrill: World leader in on-line transactions. You can transfer and receive money, and do on-line shopping just by using your e-mail address. Their site, in various languages, is simple and intuitive. Deposits at Moneybookers must be done through credit cards (instant credit) or other methods, cheques or bank transfers (taking about 3-5 days to credit your account).


Neteller: Another important leader in on-line transactions. There are many bookmakers who use Neteller for transactions. They use the same principle as Moneybookers and credits and debits occur in real time.


 

Paypal: Easily the most renown of the electronic funds operators, being part of the Ebay.com group, the famous on-line auctioneers. Paypal too lets you make and receive payments using an email address.