PayID Betting Sites
It is no secret that Aussies absolutely love to partake in sports betting activities. The trend has gotten even more predominant in the age of the world wide web and the subsequent rise of online gambling establishments. Many things can affect the quality of bettors’ wagering experience, and punters having access to an easy way to manage their bankroll online is one such aspect.
Luckily, Australian punters have a number of solutions to choose from, one of which is PayID. This service is one of the easiest to use when it comes to payment methods. In addition, it also boasts impressive versatility due to the fact that apart from deposits, sports betting aficionados can also use it to withdraw their funds from bookies too.
PayID is part of the New Payments Platform, Australia’s national payments infrastructure, and 100+ banks and credit unions utilize PayID for transactions. When it comes to bookie availability, sports betting websites have indeed started to warm up to the method due to the sheer convenience it provides to Aussie gambling enthusiasts.
How PayID Functions?
PayID is a fast payment system that was the joint venture of over a dozen prominent Australian financial institutions, and it was created in order to make online banking and, specifically, online transactions, easier and faster to conduct in the country.
It is basically a fast way for someone to access their bank funds for the purpose of sending or receiving money. Instead of having to remember one’s Bank State Branch number, which is 6 digits long and difficult to recall for most Australian bettors, Aussies have the opportunity to use things such as an email or their phone number to manage their transactions online.
Since it is fairly young, only coming into fruition in 2018, not many bookmakers have adopted PayID for depositing and withdrawing purposes. However, there is still a sufficient choice of bookies which accept this payment solution, and utilizing PayID at a sportsbook is an easy task. All you will need to do is navigate to your bookmaker’s deposit section, pick PayID, and follow the instructions. Once done, your funds will be deposited into your account immediately, provided you have used PayID at this bookie before. Withdrawals proceed in a similar fashion, although you will always need to wait for the processing time to be over first before your money is delivered to your bank account.
Naturally, PayID can also be used for other purposes, like making purchases online, sending money to friends and family, and vice-versa. It is a versatile payment system that will serve you well.
An interesting bit of information to be aware of is that if you wish to use PayID for deposits, and nothing else, creating your own PayID will not be necessary. All you will need is the bookie’s PayID. Withdrawals, on the other hand, will understandably require you to have your own PayID if you wish to use the service for this purpose.
Another thing you can take note of is that if you ever need to change your bank account, there is no need to worry. You can simply assign your PayID to your new account, so the change will be seamless.
Opening an Account
Creating a usable PayID is a nearly effortless affair. It can be done online, and will often take less than 5 minutes to set everything up. However, you do need an online banking account. You are very likely to already have one, so if that is the case, you can proceed to create your PayID.
The process itself will vary a bit from institution to institution, but the first step will generally entail logging into your bank account. Next, you will need to navigate to either your Settings, Profile, or pages of similar function, and find the PayID section of the website.
If you happen to have multiple accounts or cards, this is the point where you will need to pick one for your PayID. Choosing your preferred PayID type is what follows, and you will typically have a couple of variations to pick from – phone, email, or ABN (Australian Business number). A phone or email PayID will be best for personal use. Input any necessary details, verify your email or phone, and with that, you are nearly done. All that is left is to review your details and follow any specific final instructions your bank might give you.
The process will be more or less the same if you make your PayID on your bank’s app as opposed to its website.
Depositing to your Sportsbook Balance
The deposit process is one of the best aspects of utilizing PayID for sports betting purposes, seeing as it is quite easy and straightforward compared to traditional bank transfer.
The first thing you will need to do is find a bookmaker that accepts this payment solution as a deposit option. As established, the number of such sports betting websites is still somewhat limited, so make sure to go and check a bookmaker’s payment options beforehand. Most reputable bookies will have the logos of the available payment methods on the front page for your convenience, so be on the lookout for the black and white PayID logo. If not, such information will typically be provided on a dedicated payment solutions page, but you can also occasionally locate it under the bookmaker’s Help or FAQ section, or even in the Terms and Conditions.
Next, it is time to actually create an account at the sportsbook you have been eyeing. Account creation will not be exactly the same across all bookies, but you will generally be required to provide a valid email address, input some personal information such as your full name, address, phone number, etc. and set a password. Certain websites will require you to verify either your phone number or email address, but either way, you are pretty much done at this point.
If you wish to put off the verification process, you can do so for now. In Australia, verifying your identity is not a requirement if you wish to deposit funds into your sportsbook account. However, do note that it is still better to get it over with when you have the time, since you will need to have undergone verification when you wish to withdraw money.
With everything done, it is time to top up your bookmaker balance. The location of the deposit page will typically be linked either directly on the website’s home page, or in a separate cashier section. Either way, you can be certain that finding it will be a piece of cake.
Next, scroll through the list of deposit options and choose either PayID or bank transfer. If you choose the latter, you will need to pick PayID when it pops up. This is also the point at which you will be presented with any potential deposit promotions. They often need to be selected for you to actually receive your bonus, so make sure to do that.
You will then be able to see the bookmaker’s PayID email, and you will see your username in the description section. Afterward, you need to navigate to your bank’s website and log in. Choose the option for paying different people/merchants, and pick email. Do not neglect to input your sportsbook username in the description box, as this is how the bookmaker will know who sent the deposit.
Type in the amount of money you wish to deposit, and depending on your bank, you will likely need to confirm the transaction. In addition, your first deposit will not be instant, due to the fact that a 24-hour pending period is required when you send money to new merchants. All subsequent deposits will be transferred into your sportsbook balance immediately. With this, you are done and ready to embark on your wagering journey.
Withdrawing from your Sportsbook Balance
Withdrawal is also something within PayID’s capabilities, and it is even easier to achieve than deposits. However, if you failed to verify your identity at an earlier point, you will be prompted to go through the verification process before you will be allowed to withdraw money from your sportsbook account.
No need to worry, however, as most bookmakers have done their best to make the verification process as streamlined as possible. At a typical bookie, you will need to provide detailed personal information, as well as scans of an identification document. This can be either your ID card, passport, or driver’s license. Certain sportsbooks will also request a selfie, and at others, a phone call with an agent might be necessary.
When you are done, you are free to proceed to withdrawal. As established, the process in and of itself is pretty easy. All you need to do is decide how much money you wish to be transferred to your bank account, choose PayID from the list of available options, and provide all of the requested information. If you are an experienced bettor, you will be familiar with what comes next. Namely, you will need to wait. Unlike deposits, withdrawals always require a processing period. The time frame can vary, but you will typically need to wait between 24 hours and 72 hours. Although we understand that the practice might be frowned upon by some bettors, rest assured that this process is necessary if the bookie is to be certain that your money will reach you without incident.
Cost and Fees
At the time of writing, PayID itself will not impose any fees onto you or any of the other individuals who utilize this service. This makes it quite the user-friendly payment solution for many punters.
Remember, however, that PayID is connected to your bank account and is pretty much used in order to complete bank-related transactions. Thus, while using PayID does not involve any fees on PayID’s side, you could incur processing or transfer fees from your financial institution.
In addition, it is also possible that a bookmaker will require fees when it comes to deposits or withdrawals. This is very rarely the case, but the possibility is still there, so it is always good to research the sportsbook first. Typically, information regarding fees can be found either in the Terms and Conditions of a website, or on the help page. If you are uncertain or are simply unable to find this information anywhere, remember that you can always reach out to customer support for assistance.
Security and Privacy
Due to the fact that PayID is closely tied to your bank account, any security measures employed by your financial institution of choice apply to PayID as well.
As for how banks keep your data secure, there are tons of techniques involved, and many of them continue to evolve and become more and more robust as time passes and new innovations are introduced.
The first such feature is the so-called Secure Socket Layer encryption. It makes your information and overall data practically illegible, and it is an amazing tool for preventing fraud, the leakage of data, and so on. Tools such as firewalls and top-of-the-line malware protection software also keep your information secure.
In addition, the way PayID functions in and of itself adds an extra layer of security to your bank account. When you utilize PayID, you do not need to provide your banking information to third parties, so it remains safe and sound thanks to this.
Next, banks have also provided their customers with the ability to protect themselves, and the best feature for this purpose is two-factor authentication. It means that log-ins, as well as transactions of any kind, will need to undergo confirmation from your first. For example, whenever you wish to deposit funds, a code will be sent to your phone with which you can verify that it is you requesting this service. Biometrics such as Face ID and fingerprint scanning are also popular verification methods.
On the topic of keeping oneself safe, it is also important to point out something you need to be wary of – phishing. Remember that neither your bank nor bookie would ever request your login details or other crucial information via email or SMS, so be cautious and contact the support team of your bank or sportsbook if anything ever seems amiss.
Advantages of PayID
Australian gambling enthusiasts have many reasons to like PayID and utilize it for their online wagering needs.
First and foremost, the convenience provided by this payment solution is more than excellent. Depositing money, for instance, is practically a few clicks away since all you need to do is make use of an easy-to-remember PayID email or phone. With PayID, you are free of lengthy BSB codes that, let us face it, few individuals would even attempt remembering, and rightfully so. In addition, we also cannot understate the fact that PayID can be utilized for withdrawals as well. The number of solutions on the market that are offered for both depositing and withdrawing one’s funds is far from large, which makes PayID the perfect payment method in the eyes of many punters.
You will also find that PayID excels in another aspect crucially important to sports betting aficionados – PayID is available for bookmaker promotions. In many cases, bettors might be locked out of taking advantage of a bonus simply due to the fact that they have chosen digital wallets such as PayID or Skrill for their depositing needs. With PayID, you do not need to worry about such concerns.
Furthermore, as previously noted, PayID is incredibly secure. You do not need to give your banking information to bookmakers, and at the end of the day, the fact that PayID is basically tied to your bank account and is thus kept secure by your financial institution is also a significant plus.
Disadvantages of PayID
Although PayID is most certainly a great modern banking solution, it does come with some drawbacks, the first of which involves the fact that you might not be able to actually find it as a payment solution at your favorite bookies.
PayID was created in 2018, so Australia-friendly sportsbooks are still in the process of actually adopting it as a deposit or withdrawal method. In other words, the chances of you registering at a bookmaker you like, only to quickly find that PayID is not one of the usable options, are fairly high. This is why we need to reinstate that it is important to check the payment solutions of a sports betting website prior to creating an account.
Another thing you should keep in mind is that even if PayID is an accepted deposit method, certain bookies have yet to provide it as a withdrawal option. PayID does have the capabilities of being one, but it seems that the previously mentioned availability, or the apparent lack thereof, has affected withdrawals more severely.
Last but not least, PayID remains a banking solution that is an option strictly for punters who reside in Australia. Bettors who live overseas will need to pick from international payment methods.
Conclusion
All in all, PayID has proven to be an incredibly convenient banking method when it comes to online transactions. It is speedy and allows you to use information that can be remembered with ease, as opposed to a BSB code that you may or may not need to have written on a piece of paper or in your notes app. Deposits are speedy, as are withdrawals, and you will be able to take advantage of sportsbook promotions with ease. Security is also pretty much top-notch.
We truly hope that, with time, more and more bookies aiming to impress the Aussie crowd will gravitate towards adding PayID to their cashiers, both for deposits and for withdrawals.