Bookmaker payment options differ slightly from one company
to another, but wherever you register you will find pretty much the same
options. There may be slight differences on things like charges, but the
methods are just about the same. There will also be differences on the minimum
and maximum amounts that can be deposited or withdrawn.
Mobile Money
The most common method of depositing money to betting sites
in Kenya is mobile money, whether that is M-Pesa or Airtel Money, among others.
Mobile money deposits are very quick and take just about a minute to go
through. Besides, mobile money can be used at any time. So you have no worries
of the time to deposit money to your betting account. Whatever mobile money
channel you use, you will pay some charges to deposit money. For example,
depositing money on Sportpesa is charged Ksh 3 for depositing less than Ksh 50,
Ksh 5 for depositing Ksh 51-99, and Ksh 22 for depositing Ksh 100 or more.
E-Wallets
E-wallets are quite a popular means of depositing money to
an online betting account quickly, securely and efficiently. E-wallet options
include Paypal, Skrill, Neteller and IDebit, which have instant processing time
and do not have bookmaker processing fees. Many bookmakers do not charge any
fees on any of the above E-wallet methods. One disadvantage of E-wallets is
that bookmakers do not often allow them to be used to fund bonus bets because
of security and fraud options.
Credit and debit cards
Debit and credit cards are processed instantly and are a
quicker method of depositing money than banks. They allow for the deposit of
huge sums as the maximum amount placed on them is usually high. The
disadvantage is that if you use a credit card you will be charge a high
interest rate, but using a debit card may be a bit advantageous because
interest rate is pretty low. Likewise, your bank may charge you a fee to
deposit money in your betting account using a debit or credit card.
Prepaid vouchers
Prepaid vouchers allow you to exchange cash for vouchers
that can be used safely for various online purchases. Two common examples of
prepaid vouchers are Ukash and Paysafecard. Prepaid vouchers have the smallest
deposit limits of all the deposit methods.
Bank options
You can fund your betting account directly from your bank.
For example, you can use wire transfer or a direct bank transfer, or even a
chaque to fund your betting account. The major disadvantage with bank options
is that they take a very long time, from 3 days to 10 days or more, for money
to hit your betting account. Bank options also have a very high maximum limit
requirement which may not be met by many bettors.
Recommended options
For bettors in Kenya, mobile money transfer is the quickest,
safest and most convenient way to fund your betting account. You will have the
money in your account in less than 1 minute. Apart from that, you can use the
debit card or the e-wallet options as they are also quick, cheap and efficient.
More importantly though, make sure to keep your finances in check, only
depositing what you can afford to lose in your betting account.