Apple Pay Betting – Discover the Easiest Way of Depositing Funds into Your Account
The Apple Pay digital wallet was released in 2014, and it slowly made its way to sports betting. Currently, few bookmakers accept this payment method. However, we don't need to be fortune-tellers to recognise this transaction service is here to stay, and it will grow in the future. Here you can learn all you need about Apple Pay betting, including how to use it and its advantages and disadvantages. But before you proceed, check out what betting sites use Apple Pay.
What Is Apple Pay and How Good Is It for Sports Betting?
Apple Pay is both a mobile payment service and a digital wallet. It is available on iPhone, Apple Watch, iPad, and Mac. It has become customary to expect great technology from this tech company, and they don't disappoint. The app can be used as a contactless card at a point of sale terminal, thus making it very convenient for everyday tasks like shopping at the market.
However, we are more interested in the digital wallet capabilities of this payment method because this is the aspect of the service that we use with online bookmakers. As far as sports betting is concerned, there are very few betting sites that accept Apple Pay now. However, the service works in a very similar way to other e-wallets – it offers quick and secure payments and money transfers to its users.
There is one significant disadvantage, however. Bookmakers do not offer withdrawals with this service. If you deposit with this method, your withdrawal will be paid out via bank wire. Moreover, the minimum sum for withdrawals is somewhat higher for Apple Pay (through Bank Wire) than it is for other e-wallets.
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How Do I Deposit with Apple Pay?
As soon as you have passed the Know Your Customer check with the bookmaker, you will be able to make your first deposit. Depositing with this service is even easier than using other, more popular e-wallets. A great deal of the convenience comes from the feature being a part of the Apple omnichannel experience – it just feels natural. Here is how to make a deposit to betting sites with Apple Pay:
- Step 1
Open your sports betting account and go to the deposit menu.
- Step 2
Select Apple Pay as your chosen payment method.
- Step 3
Enter the amount you wish to deposit with the bookmaker.
- Step 4
The payment service will ask for authentication, and this can be given by fingerprint with Touch ID, or with Face ID on the newer iPhone and iPad devices.
- Step 5
You will receive a notification for the transaction, and the sportsbook will be open for bets.
Unfortunately, Apple Pay Is Not a Valid Withdrawal Method
Bookmakers do not offer an Apple Pay withdrawal option now. For example, some operators use Bank Wire for withdrawals, and these are not known for speed. This is a significant drawback to using the service, and hopefully, they will figure out something in the future. As of now, this payment method is at a significant disadvantage to other e-wallets and even cards.
How Safe Is This E-wallet?
The very design of this service bolsters security. First of all, the payment information of customers is never saved to the Apple devices. All the card numbers or bank accounts are secure stored somewhere on the company's servers. Then for every transaction, the device sends an encrypted token to the parties involved to authenticate the users.
Moreover, Apple Pay works with Touch ID and Face ID. So, even if someone gets unauthorised access to the device, they will not be able to make any payments with it. Furthermore, the company doesn't store any transaction history. The payment details are reserved for the customer, the merchant and the bank account or card issuer. All Apple saves are the last few transactions made so that the user can have some reference in the app. Finally, all transactions are heavily encrypted, and they are impossible to decipher by conventional means for any practical purposes (like in the next 15 years).
Advantages and Disadvantages of Using Betting Sites with Apple Pay
By now, there is a clear picture developing about Apple Pay's utility for sports betting. It is worth listing both the pros and cons of this payment method. Here is what you need to consider when making a decision:
- Payments and deposits are near instant with this service.
- It is very reassuring to know that this payment method doesn't store any financial information on its servers. Moreover, the biometric security further protects its users.
- Thanks to the app, this payment method can be used at POS terminals as a contactless card. This is not related to sports betting, but it adds relevant utility to the technique.
- This is perhaps the decisive factor against Apple Pay as a sports-betting payment method. Withdrawing money with them is not an option.
- There are just a few sportsbooks that use this service. Overall, it is not a popular way to make financial transactions in gambling.
Apple Pay is probably not the best choice for punters who seek a uniform payment method for sports betting. There are very few sportsbooks using it nowadays, and none of them offers withdrawals with it. However, the service still offers some convenience and good security for its users, so, it could be used occasionally as a back-up deposit method.
Frequently Asked Questions
📱Q: What Betting Apps Use Apple Pay?
💬A: Currently, bet365 and 888sport have betting apps with Apple Pay. If you are interested in finding more about these apps, you can check our dedicated reviews.