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You may not have heard of WebMoney (WM), but it’s one of the most frequent payment methods around with almost 30 million registered users. They were founded in the late 1990s and functions as an online payment system that provides users with the ability to manage all online transactions from one place.
The payment system is used in every part of the world. The company began in Russia and although the system is mainly used in countries located in the former Soviet Union, they have grown to the point where they have global recognition. WM is diverse and is increasingly offered as a payment option during online transactions, as well as for sending money, fundraising, as a business account, claiming a loan and more pertinently online betting. There are numerous benefits and a few disadvantages for WM users, which we will highlight in this guide.
There is a long list of WM friendly bookmakers. Here at VegasBetting, we have got a comprehensive list of the very best WM friendly recommended sportsbooks, which will make choosing the right sportsbook that bit easier.
Bovada offers a great range of betting odds for all major sports, entertainment and political events year after year.
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WagerWeb has a simple yet pleasing interface, which makes the whole betting experience much better. Not to mention the endless range of markets.
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WebMoney has found its way onto North American payment options over the years. One of the main reasons is due to the fact that it’s such a safe way to top-up, or reload, your funds at an online sportsbook. WM is using advanced technology to encrypt the transaction, safeguarding against troublemakers. The fact that numerous cooperations and major banking institutions worldwide use this payment option, is evidence of the level of security offered by WM.
The swift speed of transactions is another major pull for users deciding which deposit method best suits their preferences. The method is often subjected to a small fee, depend on the amount that’s being deposited. Generally speaking, the values are lower than 1%, which is normally given for both withdrawals and deposits. This makes life easier for the bettor because they are able to simply use one payment method for all transactions, but also because the fees themselves are low, which is often not the case.
Finally, as we mentioned briefly before, users of WM can claim a first deposit bonus or a reload bonus with any sportsbook provider that accepts this payment method. There are always set rules and terms by each sportsbook, regarding the amounts received for each deposit.
There is a variety of great advantages that WM users can benefit from today. One of the first things, which we briefly touched on before, is the level of security provided by WM. Every transaction carried out is made under an SSL encryption, guaranteeing that your financial details remain private and users can maintain anonymity.
The high-level of security is backed up with swift payments and made with ease. Deposit and withdrawing are something we’ll touch on next, but the process as a whole is simplistic. One of the drawbacks to using the system is the fact WM charges a small commission fee on every transaction, however, the fees are so low it’s basically immaterial.
WM’s popularity as a payment method means users can access an array of great bonuses. First deposit bonuses are the most rewarding, though repeat deposits also carry great bonuses. The popularity of WM means that a lot of companies work with it, which means for users of WM they will have access to a broad range of betting sites.
The welcome bonus that sportsbook offers for WM is generally quite impressive. After signing up, customers will often be rewarded free spins in the casino, plus a bonus of anywhere up to $1,000. But do shop around, see what the various sportsbooks are offering to customers as there is a multitude of providers to choose from nowadays.
WM’s growing popularity means more and more sportsbooks are offering to gift users with big welcome bonuses, as well as great rates on reload bonuses (second deposits) as well. WM is frequently offered as a payment method, but it’s not as popular as for example Visa or Mastercard, so don’t presume that it will be there. In order to activate the WM Welcome Bonus with your sportsbook, we ensure to check the minimum deposit limits, as often customers will have to match a certain value to trigger the bonus.
Depositing with Webmoney is as easy as depositing with other major payment options with the most popular sportsbooks on the market. Simply create an account, then “top-up” the account, which can be done via various different deposit methods, but in this case, simply select “WebMoney” and go from there.
It’s worth noting that each sportsbook has it’s own limits and will provide different bonuses to customers depositing. So, it’s always worth checking what the sportsbook offers and select one that offers the best rates on WM deposits and allows withdrawals without charging excessive fees. Something to avoid would be paying into a sportsbook provider and winning, only to find you’ll be charged to excess on any withdrawal made.