How to load money into my betting account (eg. Bet365/Betway)?
A lot of people are hesitant to start betting because they're hesitant about the fees they think they'll incur by adding money into their account. If they use credit they've heard, they'll be charged cash advance fees! Is that true?
Well. Yes. That's true. We're often fans of dispelling societal myths, but in this case we're remiss we can't. If you load cash into the app via a credit card, most major banks will charge you a set fee (say $3) and usually a percentage of the cash advance at the end of the month.
For example, when we first started betting we loaded $10 into the app via a credit card. We got charged $3 for the $10 we loaded - however we didn't get charged a percentage of the cash advance at the end of the month. So the cash advance fee may only happen at certain banks
So what do we do instead?
Use e-transfer. There's a couple options generally on the app. For example here's bet365, but other betting houses (such as Betway) are similar.
After inputting an amount of load, say $20.00, it will take you a page showing a list of banks.
Select your bank, and use your bank's login details to login. Your bank's mobile e-transfer page will then be displayed indicating that you'll be sending $20.00 to bet365. Confirm, and then be prepared to wait for a silly period of time (we personally believe banks are still using their 1980s servers and programming languages like COBOL) as the e-transfer processes.
After you've been extremely patient you'll be redirected back to Bet365 where it will say it will load your account with funds after it receives them - but in reality you should see the $20.00 appear in the app immediately.
If you don't see the funds there immediately, it's worth fully closing the app and reloading it as both Bet365 and Betway have notoriously buggy apps.
But to be fair, both companies have been around for a while, and hence are probably stuck with a horrid amount of technical debt. As we know far too well - poor computer architecture is hard to overhaul at large organizations.
Hopefully this alleviates concerns and brings you into the fold of sports betting. We find it an incredibly fun facet of our life and want to demystify and unstigmatize what we feel is vastly different than normal gambling.
Feel free to reach out on our socials if you have questions or need support.
