Sports betting is one of—if not the—largest verticals in the global iGaming industry. While nuances vary from country to country, one fact remains constant: the world loves sports betting. And from that passion, a thriving ecosystem of sports betting businesses has emerged across the sports-obsessed globe.
This is why Altenar, a sportsbook software provider, is committed to helping operators safeguard their revenue, protect player funds, and maintain the overall integrity of their sports betting operations.
Sports betting platforms generate a substantial portion of revenue within the iGaming sector. With the continued rise of Esports and fantasy leagues, the industry's trajectory is steep. In fact, revenue is projected to grow from $270 million in 2017 to $87.75 billion by 2024. This explosive growth benefits providers, operators, and platforms that have successfully navigated the sports betting wave.
This financial momentum is a powerful reminder of the trust and value built between operators and players over time—trust that must be protected through proactive safety measures and smarter infrastructure to support responsible gaming.
With rising revenue comes increased exposure to fraud, scams, and chargebacks. Verifying the legitimacy of payment methods is no longer as straightforward as distinguishing between player special and bet builder features.
To combat these challenges, many sportsbooks are turning to secure, scalable payment gateways. These systems are now essential for managing the high volume of daily transactions—both incoming and outgoing—in modern sports betting operations.
Payment gateways for sports betting offer a wide array of choices for both players and operators, delivering high levels of security and convenience. These seamless, globally trusted services are provided by third-party solution providers and integrated directly into sportsbook software or platforms—allowing operators to focus on growth while offering players a smooth transactional experience.
Think of a payment gateway as a secure bridge between your sportsbook platform and a player’s bank account.
These systems support a broad range of payment options for sports betting, including bank transfers, credit and debit cards, mobile payments, e-wallets, cryptocurrencies, and fiat currencies.
Understanding the ins and outs of these sports betting payment options is essential. So, without further delay, here are the top 10 most popular payment methods used in sportsbook software in 2022–2023:
Payment Gateways for Sports Betting – Method 1: Bank Transfers / Bank Cards
Even in today’s fast-moving world of fantasy leagues, esports, and digital-first sportsbooks, traditional payment methods still hold strong value.
Debit Card Payments
Fast, secure payments are top priorities for both players and operators. That’s why many sportsbook platforms continue to accept widely used options like Visa, Mastercard, and Maestro debit and credit cards for seamless transactions.
Debit cards remain one of the most common forms of payment in the sports betting space. Players often benefit from real-time balance updates, allowing them to track their spending habits and stay in control within the fast-paced world of online sportsbooks.
This instant transfer capability is highly preferred by many players—largely due to its global accessibility. In most cases, sportsbooks do not charge players additional fees for using a debit card.
Credit Card Payments
Because they’re not directly linked to a player’s bank account, credit cards often serve as a strong secondary—or sometimes primary—payment method. Visa and Mastercard are typically the most accepted options, though some sportsbooks also support Amex and Maestro.
While credit cards offer convenience and flexibility, there are some limitations—particularly when it comes to withdrawing winnings. Players are generally only able to withdraw up to the amount originally deposited via credit card. Any additional winnings must typically be withdrawn through a bank transfer.
It’s also worth noting that credit card providers may impose hidden fees. For both operators and players, it’s important to double-check with the card issuer to ensure transparency around charges.
Prepaid Card Payments
Even with the widespread use of debit and credit cards, many players prefer prepaid card options—which have grown significantly in popularity over the past several years.
In response to growing demand, major providers like Visa and Mastercard now offer prepaid card solutions tailored for online betting. These cards allow players, punters, and gamers to top up their balance and deposit funds with ease—making for a fast, flexible, and low-friction payment method.
A particularly popular type of prepaid card is Paysafecard, which is widely available at convenience stores, supermarkets, and various retail locations. These cards are typically sold in fixed denominations of 10, 25, 50, and 100.
While the payment methods outlined so far offer a more traditional approach for how sportsbooks and platforms accept deposits, the growing threat of fraud—an unfortunate byproduct of revenue growth—has prompted both players and providers to explore faster, more secure alternatives, such as mobile payments.
Whether your users are accustomed to card-based payments or bank transfers, there's an increasing industry demand for more secure and flexible options. Still, traditional payment methods are likely to remain a staple for the foreseeable future.
So, what advantages do e-wallets, cryptocurrencies, and mobile payments bring to players and sports betting operators?
Payment Gateways for Sports Betting – Method 2: Mobile Payments and E-Wallets
With the rise of fintech and advancements in secure payment technology, millions have adopted mobile-first payment systems like PayPal—co-founded by Elon Musk. Sports betting businesses and platforms have followed suit, now widely supporting these digital wallets.
PayPal
E-wallets such as PayPal were designed to deliver greater security than traditional payment methods. Beyond that, PayPal offers fast, frictionless transactions that are widely accepted across the sports betting space.
Another advantage is privacy—transactions typically won’t appear directly on a player’s bank statement, since PayPal isn't directly linked to the user’s primary banking account. Additionally, there are no hidden fees or charges for using PayPal with most sportsbooks.
So what other e-wallets and mobile payment systems are gaining traction with sportsbooks, platforms, and payment gateway providers?
Skrill
Much like PayPal, Skrill is widely used for both deposits and withdrawals. Available in over 200 countries, it enables instant transfers and has earned a strong reputation—particularly in the sports betting industry.
Skrill has been integrated by numerous leading online sportsbooks and continues to receive high praise, earning it a spot among the top 10 payment methods for sports betting software in 2022–2023.
Formerly known as Moneybookers, Skrill is owned by the same company behind two other leading solutions in this list: Neteller and Paysafecard.
Neteller
Neteller is widely regarded as one of the most secure payment systems on the market. It is used in numerous countries across the globe, including major iGaming hubs such as the UK and Canada.
This transatlantic payment platform—headquartered on the Isle of Man—is a fully recognized and regulated financial institution. It operates similarly to PayPal, offering fast, secure transactions for sports betting platforms worldwide.
While many sportsbooks accept deposits via Neteller, it’s worth noting that some may exclude Neteller transactions from eligibility for welcome or signup bonuses.
Apple Pay
Apple Pay is one of the most popular, well-known, and secure payment solutions available—though it’s exclusive to Apple users. Accessible via iPhone, iPad, Apple Watch, and other Apple devices, it allows players to quickly and securely deposit funds with many sportsbook operators.
With no hidden fees and robust security, Apple Pay eliminates the need to manually enter card details, making it a convenient and streamlined option. For these reasons, more players and punters are turning to Apple Pay as their go-to payment method.
An Alternative to E-Wallets: EcoPayz / EcoCard
Exploring alternatives to mainstream online payment methods can offer more flexibility and inclusivity for players. One such option is EcoPayz, which blends the convenience of e-wallet functionality with traditional features like prepaid cards.
EcoPayz offers players fast, secure transactions and is supported by a wide range of sportsbooks. Most importantly, unlike other e-wallets, it typically doesn’t exclude users from bonus eligibility—making it a valuable option for both players and operators alike.
Payment Gateways for Sports Betting – Method 3: Cryptocurrency and Fiat
As cryptocurrencies and fiat alternatives become more mainstream, online sportsbooks and betting platforms are recognizing the value of supporting deposits made in digital currencies.
Backed by similar technology used in e-wallets—such as blockchain infrastructure and digital wallets where currency is stored—cryptocurrency has opened new doors for the sports betting industry as operators increasingly accept this form of payment.
Two key differences between crypto and fiat payment methods are speed and infrastructure. Fiat transactions may take several business days to process, while crypto transactions are typically completed within minutes—if not instantly.
Some of the top advantages of using cryptocurrency as a sportsbook payment method include:
- Enhanced privacy and data protection
- Lower transaction fees
- No need for currency conversion
- Fast, near-instant processing
- Improved security for operators
- Higher deposit and withdrawal limits
- Stronger brand positioning among forward-thinking players
While “reputation” may sound intangible, embracing crypto payments helps sportsbooks appeal to both next-generation users and tech-savvy traditional bettors—enhancing your brand as a modern, flexible, and secure platform.
Especially when using well-established cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), operators benefit from their long-standing reputation in the digital payment space. These assets have helped define the crypto ecosystem as we know it today.
Bitcoin
As one of the most dominant digital currencies in the sports betting industry, Bitcoin was reported by Digital Art to hold a 41.9% market share among cryptocurrencies used for sports betting deposits.
Regarded as a market leader for years, Bitcoin enjoys a high level of trust among sports bettors—thanks in part to its public blockchain ledger that ensures transparency and traceability.
As more sportsbooks adopt Bitcoin and other cryptocurrencies, blockchain-based payment technology continues to evolve—enhancing both speed and security for users and operators alike.
Ethereum
Ethereum is another highly recognized cryptocurrency. It operates on an open-source blockchain and supports smart contract functionality—offering added layers of programmable security for ETH users.
Using Ethereum as a payment method differs slightly from Bitcoin. Players must be provided with an ETH wallet address by the sportsbook and specify their deposit amount.
Transfer time depends on the current traffic on the Ethereum blockchain and can range from a few minutes to a few hours. Once received, the ETH is typically converted into the sportsbook’s operating currency rather than remaining in its native format.
Alongside these top-ranking cryptocurrencies, players and sportsbook operators can also explore the following widely supported options:
- Bitcoin Cash
- Ripple (XRP)
- EOS
Having reached the end of the Top 10 Payment Methods for Sportsbook Software (2022–2023), here are a few additional payment solutions that may also benefit operators and players alike:
- Tether (USDT)
- TrustPay
- Perfect Money
- Laser
- Instant Bank
- Delta
- Dotpay
- AstroPay
As the sports betting industry continues to grow, so does the demand for reliable, secure, and versatile online payment methods. That’s why Altenar has compiled this comprehensive guide to highlight some of the best options available today.
Contact the sportsbook software provider today to learn more about the evolving iGaming landscape and how Altenar can support your growth as a trusted sportsbook technology partner.
