Sports betting with direct debit
If you have been wondering for a while about direct debit and how it works for bookmakers, then you have come to the right place. In this test report you will learn a lot about direct debit and everything related to it.
What are sports betting by direct debit?
When we talk about sports betting by direct debit, you should think of something similar to paying your monthly mobile internet bill with your phone. You can make phone calls from your smartphone all month long. This will incur telephone charges.
Your mobile phone provider will debit this amount from your account at the end of the month. You have given him a direct debit authorization in advance and allowed him to use the direct debit system.
With a direct debit betting provider, it looks like you get bets on your available bets for a month. At the end of the month, the bookmaker debits sports betting from your account by direct debit.
At first glance, this sounds like a very more convenient process for you than for a debit booker. And all this because there is an effort for him every month. Since your rates vary each month, the bookie cannot collect a fixed amount each month.
This means that here people have to work in accounting to receive payments from you. It becomes even more difficult for a bookmaker if there are not enough funds in the account. In the worst case it remains on the profits of your bets.
High security for both contracting parties
In normal business and trade relations, the direct debit procedure offers a high level of security for both contracting parties.
The seller of the service can usually debit the invoice from the buyer's account immediately and does not have to wait for the buyer's payment instruction. If the recipient is satisfied with the service or product, he usually has nothing against the direct debit.
The advantage for the customer is that he does not have to worry about paying the bill, this happens automatically.
However, if you are not satisfied with the delivered item, you can easily cancel the payment within six weeks. There is no time to wait for a possible refund, as the amount is immediately credited to your own account.
The SEPA direct debit is a very simple and straightforward payment method for daily money transfers, where all communications are handled directly by the credit institution via the banking system.
In this context, you will be particularly interested in the reasons for which a direct debit authorization can be refused.
The reasons for this can be different. However, at this point I would like to highlight the possible factors to give you an accurate overview. You should definitely check these important criteria if you want to use the direct debit method.
First of all, technical reasons can be the reason why direct debit did not work. This can be, for example, missing mandatory information. Therefore, always carefully check whether you have provided all the required information.
An incorrect IBAN number can also be the reason why the corresponding amount cannot be debited from your account. Before you issue a direct debit authorization, you should check all personal details in advance.
Animated mandates and account closure can be other reasons why the direct debit did not work for the corresponding transactions. It is also particularly important that you have the appropriate funds in your bank account.
If you want to avoid a failed direct debit, you should explicitly check the details and always make sure that your checking account has the appropriate amount available for direct debit collection.
If you follow these important tips and tricks, processing your direct debit payments should not be a problem in practice.
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What are the best alternatives to sports betting by direct debit?
As promised, our experts have presented sensible alternatives to the sports betting direct debit system. There are a few of them. Let's start with bookmakers with online banking deposits.
In this case, we are talking about sports betting with a bank transfer that you make online rather than on paper. It can be a classic instant transfer. In this case, the method is executed immediately.
If you use the classic bank transfer for your online sports betting in germany and choose this as an alternative to sports betting with direct debit, you will need several business days for deposits and withdrawals.
This is the slowest method. Unless you choose the instant transfer or giropay option. This is a very safe method, which usually does not cause additional costs for bookmakers. Transfer options must be offered by each bookmaker. If you make a deposit using a method such as a prepaid card, the bookmaker must transfer the money to your bank account when you make your first withdrawal.
Credit card payment required
Even if you can't find any bookmakers for sports betting or direct debit, there is one important method that is also supported by all bookmakers. And unlike traditional bank transfers, sports betting with credit card is instantaneous.
When it comes to sensible alternatives to sports betting by direct debit, credit cards are definitely here to stay. A good bookmaker supports visa and mastercard.
Normally, this method is subject to a fee, but the credit is instantaneous. At least as far as deposits are concerned. Withdrawals can also be made using this method, but this will take some time to complete.
Credit card payments are considered very safe today. Like transfers from sofort-uberweisung, they are verified by the tan code. Before you make a transaction, you will receive a code on your smartphone. The transaction is not confirmed and completed until you enter the code in the payment window.
With this added security, there is no longer a risk of intruders intercepting your credit card information. You must also have your smartphone to abuse your account.
Online wallets for fast deposits and withdrawals often have a catch
Even if you can't find a debit bookmaker or debit sportsbook these days, you can find sports betting with neteller and sports betting with skrill with almost every bookmaker.
These methods are called online wallets. Digital wallets that you either provide in advance to receive credit, or receive credit from your bank account or credit card account by direct debit.
The advantage of these methods is that credits are processed relatively quickly. This also applies to payouts. The first disadvantage is that fees are charged for these methods from time to time. The second, much more serious drawback is as follows.
If methods to activate an offer are excluded from the sportsbook bonus comparison or casino bonus comparison, such as casino free spins, then these are the methods.
Direct debit method
The biggest challenge for direct debit bookmakers were chargebacks.
But there were bookmakers that actually supported direct debit when placing sports bets. And these debit betting providers have more than just losing the money in their accounts.
The chargeback option was much more problematic. For payments by direct debit in germany, customers have the option to return the payment at any time. For a whole six weeks.
In other words, the fraudulent criminals first paid out their winnings and then returned the direct debit. The bookmaker, of course, had the opportunity to file a lawsuit against these scammers. The effort had nothing to do with it.
In fact, this is the main reason why no well-known bookmaker offers such an option today. Intertops, which was the only bookmaker to offer this service for a long time, has now also deviated from it. They are all now relying on alternative payout and deposit methods for sports betting.
The methods offered for your online betting in germany, such as sports betting, not only intelligently replace the direct debit procedure. They also provide you with additional benefits that direct debit did not offer at the time. Below we present you all the important alternatives.
Commissions and term for sports betting by direct debit
Theoretically, there are no fees for the direct debit method. In practice, however, this payment option is not offered by any provider. Until now, this was only possible with the bookmaker intertops. However, the traditional bookmaker will be the 1. December 2021 to discontinue its sports betting program in germany.
If you want to fund your account with large payment methods, there are many other methods, such as instant transfers. Bookmakers don't charge commissions on the popular paypal alternative either. In the "normal" business world, direct debit payments between banks are processed within two days.
Out-of-control tipsters can quickly get into debt.
At the end of the month, a five-digit phone bill is rolled into the house. If there are not enough funds in your betting account, the mobile operator will be left with his costs for the time being. He should try to take it away from you.
For this reason alone, the method makes no sense at all. Bookmakers are always encouraged to provide helpful assistance in combating gambling addiction to players who can no longer control their gambling or sports betting.
A payment method where the bookmaker pays first upfront and you can use infinite bets will be fatal for gambling addicted prognosticators.
Serious bookmakers require verification
Regardless of which alternative you use for sports betting by direct debit, there is one common feature that applies to all payment methods.
Reputable bookmakers must comply with anti-money laundering laws and protect minors. Therefore, they prove their identity at the first payout. How to find out if you are of legal age and really live in germany.
This is important for the bookmaker, for example, when calculating the betting tax. Also, a reputable bookmaker will pay out the first withdrawal using the method you used to make your first deposit. This requirement is intended to prevent money laundering.
That is, for example, if you work with muchbetter sports betting, you will get a classic bank transfer. When you make a deposit with your credit card for the first time, money is transferred to your credit card.
The more effective the method, the better for the bookmaker – and for you!
The second point why there are no direct debit bookmakers, we have already mentioned. When sports betting providers offered direct debit, criminals took advantage of it. They booked their bets by direct debit paid via chargebacks. With direct debit, this takes six weeks. Bookmakers have now had to sue and try to sue these customers.
In short, this method offered criminals so many opportunities for attack that bookmakers were forced to abandon it. And this is also advantageous for you. Because everything that causes additional costs at the bookmaker is mainly passed on to you through payout percentages and payout keys.
The cheaper and more efficient the bookmaker acts, and this includes using only those payment methods that do not cause any effort, the less it should pass on additional costs and commissions to you.
Is paypal the best alternative to sports betting by direct debit?
A highly recommended alternative to direct debit is paypal. The payment system offers customers the same advantages as direct debit and takes all the risks away from bettors.
Paypal acts as an interface between two partners. The prerequisite is that customers open an account with paypal. From here you can pay without prepayment. The invoice amount is then debited from the home bank account at regular intervals by direct debit.
How much do sports betting online bookmakers cost with direct debit?
The providers in our bookmaker comparison 2022 that have offered online sports betting by direct debit in the past usually charge a commission for doing so. This is also relatively easy to explain.
With a debit bookmaker or debit betting on sports betting, the debit betting provider incurs additional costs. We have explained this briefly in the introduction. The accounting department should collect payments from you every month. Today, of course, this is done digitally and online. However, this does not mean that there should be no real people working in a settlement center.
Because again and again errors or technical problems occur, where real people have to intervene. Let's compare an example for example with a credit card deposit.
In case of a credit card deposit, the credit card provider takes over the payment process. Money is transferred only to the bookmaker. The bookmaker does not bear any additional costs and expenses. Typically, direct debit costs between two and five percent in fees.
How fast are sports betting by direct debit?
If the top bookmakers in 2022 supported sports betting by direct debit, then a favorable credit was always available to you at the drop of a hat. The debit bookmaker has made an advance payment, so to speak, and made the bets available.
At the end of the month, he has bet on your sports bets via direct debit from your account. Therefore, payouts from bookmakers by direct debit are not associated with the latency. Sports betting credit became available immediately.
If it was a key advantage for you as a dump truck, then not only the convenience, but also the instant credit availability.
Instant credit availability awaits you today with all known payment methods in the online sports betting segment. With the exception of deposits with classic bank transfers, the credit is always available immediately. From this we can see that there are no direct debit bookmakers today. When it comes to getting a loan quickly, there are many alternatives.
That there is no sports betting by direct debit is not a problem!
The fact that you can no longer find a direct debit bookmaker in sports betting that supports the direct debit procedure can be easily explained by now: for player protection reasons alone, offering a direct debit bookmaker makes no sense. Because with this method you could fall into debt relatively quickly. As with your cell phone bill, you can also make premium rate calls for a month if you like.
Direct debit is used to pay bills. The debtor gives his creditor one-time or permanent permission to simply debit account amounts from his account. This requires written authorization for direct debits, which the lender must submit to his bank.
There is a risk that the debt collector will debit wrong and too high amounts from his customer's account.
In order to give the payer the opportunity to react, the law provides that any direct debit can be cancelled within six weeks without giving any reason. This can be done both in the online bank and at the bank counter.
This regulation poses myriad risks for online sports betting providers. Assuming that the bookmaker accepts a direct debit, in practice this would mean that the money is taken from the player's home account. The customer could make his sales in sports betting and gamble on the side.
In case of loss, the user only has to go to the bank and gets his money back without much effort. The defrauded person is then a bookmaker office.
In the worst case, the player could even get paid the winnings, but still be able to issue a direct debit, which would double cheat the online provider. For this reason, hardly any bookmaker offers direct debit as a payment method.
Frequently asked questions and answers
Are sports betting providers offered by direct debit?
No, currently there is no online betting provider where you can pay by direct debit. Intertops has already offered this payment service. From the 1. December 2021 intertops will no longer be available for sports betting customers residing in germany.
Why do online bookmakers not offer sports betting by direct debit??
Betting providers do not accept payments by direct debit for security reasons. Customers could simply direct debit the payment amount back to their online bank account. It makes sense that online bookmakers don't want to take any risks.
What are the alternatives to sports betting by direct debit?
Fortunately, there are many good alternatives that you can use instead of sports betting by direct debit. For payments by current account I recommend for example sofortuberweisung trustly and giropay, but also numerous e-wallets are for years clear guidelines for deposits and withdrawals.
Is paypal a good alternative to direct debit when it comes to sports betting?
Yes, paypal is a great and absolutely secure payment method that numerous online betting providers also offer you. Through paypal you can process both deposits and withdrawals and often benefit from particularly lucrative bonus offers through a qualifying deposit.
Will there be sports betting by direct debit in the future?
In principle, of course, this cannot be ruled out. However, I think it is unlikely that this payment method will be offered in the future. However, there is no reason to regret the direct debit in terms of online sports betting, because the online betting provider has excellent alternatives for deposits and withdrawals.