The betting industry has very quickly made the transition from brick and mortar, physical shops to online powerhouses. The entire change took less than ten years and coincided with the move of most industries from offline to online. The years at the beginning of the 21st century marked the movement of retail from classic shops to websites and smartphone applications.
Clothes are now sold online, as well as cars, houses, groceries, and everything we can think of. Betting followed close by and has significantly profited from the rise of e-wallets and other e-payment solutions. As with many other domains, the e-wallet business has its own Pepsi vs. Coke debate. In this area, it’s called Paypal vs. Skrill – and we’ve already covered the first competitor.
UK Betting Sites That Accept Skrill
About Skrill(formerly Moneybookers)
Skrill, formerly known as Moneybookers, has been around for quite some time. Moneybookers has appeared in the UK in 2001 and was rebranded as Skrill 10 years later. They currently have more than 700 employees and is one of the most profitable businesses in the UK.
Over the course of the last few years, the company has also completed the acquisition of Ukash, one of its main competitors on the British market. Its ties with the betting industry have grown in recent years as well, with more and more bookmakers opting to let its customers used Skrill as a money management method.
The advantages of an e-wallet as a deposit and withdrawal method are already well known, from various sources as well as from our articles covering other solutions. Ease of access, security, convenience, multi-platform usage, and quickness are most often cited as the main advantages of these companies, and they’re all nothing but pure. Not having to re-enter sensitive personal information like names, addresses and card details every time you make a deposit is surely a welcomed addition for ever bettor.
Moreover, having an e-wallet which you can use to quickly (and freely) move money back and forth is great for this period of time, where you’d quickly like to have access to all the funds you can get. E-wallets have certainly grown in popularity in the last few years, and Skrill has grown with this trend. Of course, it has its pros and cons compared to other solutions.
Skrill vs PayPal: Pros And Cons For Gamblers
In this e-wallet business, Paypal is the almost-undisputed leader. Skrill is its biggest competitor, towering well above the others, but still a few shots away from first place. We’ll try to analyze the areas where Skrill fares better and worse than Paypal, to give you an idea where the company is heading. First, the pros:
Setting up an account is quicker and easier. With all the verifications and steps required to finalized a Paypal account, the entire process can take up to 2 days. A Skrill account is usually up and working in a single day – this was our experience during the test. Yours may differ, of course, but setting up a Paypal account takes significantly longer.
Skrill actively encourages its clients to open betting accounts, while Paypal ultimately discourages (and sometimes closes accounts for) gambling. Skrill even has dedicated promotions for betting enthusiasts using the e-wallet, along those which are already offered by bookmakers. There is a good number of bookmakers who don’t even allow Paypal to be used as a deposit version.
Skrill accounts can be employed for a much wider segment besides betting, since your transactions are a lot more confidential. Paypal often decides what its users can or cannot buy or sell. For example, paying for adult website subscriptions can lead to having your account blocked with Paypal.
Customer support is another area where Skrill apparently leads. It resolves issues a lot easier and is much more transparent, compared to the horror stories we’ve read about online regarding Paypal customer support.
Fee-wise, Skrill is a bit cheaper. We won’t give you lots of details about how certain fees work, but per £100, Skrill is about £0,80 more affordable, which is something in the long run.
Of course, there are some things which Paypal does better:
Overall, anything which you’d expect a larger company to do better, is actually better. Paypal is available in more countries, has more currencies for free, has more languages it offers customer support in, more clients, more businesses, and is overall a larger enterprise. They’re currently world leaders in this industry for good reason.
Free currency exchanges are useful if you plan on using your e-wallet account for more than just sports betting. For example, Skrill charges a fee to convert british pounds in euros which you can then use in the EU. The same service is free with Paypal.
Paypal is also more widely-accepted with general merchants. Not the gambling sector, of course, where Skrill is almost unanimously preferred, but all the other industries are clearly dominated by Paypal.
Of course, there are lots of other small differences between the two giants, but they’re more or less insignificant. For betting enthusiasts, the discussion lies somewhere along the lines of flexibility versus dedication.
If you’re looking to quickly withdraw betting money to your e-wallet which you then want to use to book airplane tickets, buy some clothes and grocery shop in your neighborhood, Paypal is the way to go.
If you’re looking for a dedicated solution for your betting needs, Skrill offers a lot more. Most bonuses currently offered by UK betting sites can also be claimed when depositing using a Skrill account (like those from Bet365 or 32Red), a fact which isn’t valid when using Paypal.
Strictly looking at it from a bettors perspective, Skrill is a great option. It provides flexibility, security, low fees and great rewards, as well as long-term trust. It’s a great addition to any bettor’s arsenal and could very well be the next preferred money management solution in the UK betting market. Since they’ve established themselves well above the pack of other e-wallets, they have nowhere to go but up and the moment. Whether they’ll be able to take down Paypal as the No. 1 e-wallet in the world is something we’ll have to watch out for.