Cheque

Security

Many bettors are concerned with the security of their financial information when using online betting websites.

By using cheques, there is no requirement for customers to input any data online, and thus the chance of having their details compromised, is eliminated. This is particularly important for big staking bettors who wish to add large deposits to their accounts.

Lack of Fees

Lots of payment methods including e-wallets and in some instances debit/credit cards incur charges when used to fund betting accounts. Cheques tend to be free or very cheap to process with most bookmakers.

Slow Deposits

As mentioned above, it can take anywhere from 5-28 days for cheques to be received and processed. For bettors who want to fund their account quickly, cheques are not ideal as a method of deposit.

Those using cheques may be the type of bettors who deposit every few months, and therefore they don’t suit individuals who regularly deposit and withdraw funds.

Availability

While the big firms are still accepting cheques, the number of people using them are declining.

Other forms of payments are automated, whilst cheques need to be processed manually and ultimately, bookmakers want to eliminate that, so over the next few years there is likely to be a further decline in the number of firms accepting them.

Larger Minimum Deposits

Because cheques require the manual labour, bookmakers are typically impose higher deposit minimums.