Betfair Deposit Methods Step by Step Guide: 2022 Options

Written By: Conor Rafter
Last Updated: October 10, 2022

Without funding your Betfair account wallet, you won’t be able to place bets, participate in promotions or earn winnings. That’s why understanding the fundamentals of Betfair’s payment process is vital.

By getting to know the fastest and most accessible methods of deposit, you can make better-informed decisions when adding money to your Betfair account. Moreover, it’s important to know which options are eligible for promotions and bonuses on the site. 

Here, we’ve broken down every step you need to follow in order to process a deposit on Betfair. Whether it be a bank transfer, e-wallet transaction or a debit card transfer, you’ll find out how to send money from your preferred method of payment.

Read on to see a list that breaks down each of the deposit methods available on Betfair.

Deposit Methods Available on Betfair

Unlike many bookies out there, Betfair supports a wide variety of payment methods when it comes to depositing. This makes the platform easy to use and user-friendly, with novice and experienced bettors equally capable of funding accounts. 

See below for everything you need to know about Betfair’s deposit method, including minimum and maximum deposit limits, processing times, as well as potential transaction fees:

deposit methodminimum depositmaximum depositprocessing timefees
Debit Card£5£1000InstantNone
Rapid Transfer£10£4,000InstantNone
Bank Transfer£10NA2-5 working daysNone
Betfair deposit methods

As you can see, Betfair doesn’t charge fees for deposits on the site. However, note that your bank could place a charge on some transactions. For more information regarding fees, contact your banking provider.

New customers can use Debit Cards and Apple Pay to get in on Betfair’s welcome offer. All other methods of deposit are excluded from the welcome offer. By depositing with either of the available methods, you can use funds to place up to 5 bets worth £10 at minimum odds of 1/2 or 1.5 for an additional 5 £20 Free Bets. 

After placing qualifying bets, Betfair should credit your account with the bonus amount within 24 hours. Free Bets expire after 30 days, so you have plenty of time to get your wagers in. 

How To Deposit at Betfair Guide

Betfair makes depositing easy by offering many ways to access the Cashier. For starters, you can click the Deposit button at the top of your screen or select your My Account menu, then press My Betfair Account. From here, you must select the yellow Deposit button before being transferred to the payment page.

how to deposit on befair

Betfair should present a page with two options:

  • Debit Card
  • Alternative Methods
how to deposit on betfair deposit options

On the Debit Card page, you can add a new card and input the amount of money with which you want to fund your account wallet. If a card is already registered, there’s no need to fill out your card number and expiry date as Betfair stores this information to make payments quicker.

To deposit, type out your card security number and select the Deposit button coloured in yellow. 

For deposits via Alternative Methods, you must provide any of the following pieces of information to link your e-wallet or bank account to Betfair:

  • Email address
  • Mobile number
  • Fill out forms on the banking method website
how to deposit on betfair alternative methods

You may be redirected to the e-wallet’s confirmation page to accept the deposit, or, if you have used the method previously, you can choose to deposit quickly just by pressing the Deposit button.

Bank Transfers must be confirmed from your bank account’s website or app. To send money to Betfair from a bank, prepare in the same way as you do when sending money to a friend or someone you know. Enter the following information when prompted by your bank:

  • Reference number
  • Betfair’s Bank and Bank Address
  • Betfair’s Bank Account Number
  • Betfair Bank Sort Code
  • Betfair IBAN 
  • Betfair BIC
  • Betfair Account Name
  • Currency

Select the sum of money to send to your Betfair account, then confirm the transaction. Wait up to 5 days for the funds to arrive in your account.

To recap:

  • Click Deposit from the homepage.
  • Select either a Debit Card or an Alternative Method to Deposit.
  • Enter the amount you want to Deposit.
  • Follow the instructions set out by the bank if necessary.
  • Click the yellow Deposit button to confirm your transfer.
  • Your money should arrive in your account within seconds or up to 5 days.

Now You’re Ready To Place a Bet

Having covered which deposit methods you can use at Betfair and how to confirm transactions, you’re ready to place a bet now. Betting at Betfair couldn’t be much easier, with a vast array of sports and markets available at your fingertips. To top it all off, the site dishes out a welcome offer that could give you an impressive head start on your sports betting journey.

Remember, you can only claim this offer by depositing via Apple Pay or Debit Cards. This means that e-wallets and bank transfers do not qualify for the Free Bet bonus even if your deposit amount meets the necessary criteria.

After depositing using any of the deposit methods available, sift through the Exchange and Sportsbook to see if anything appeals to you. When you want to bet on an outcome, follow our dedicated How To Place Bets at Betfair guide for clear and concise instructions on wagering. 

Put our steps into practice and you could be a winning bettor before you know it. And if you are fortunate enough to back a winner then you can also check out our How to withdraw on Betfair guide

Conor Rafter
Conor Rafter

I’m a freelance writer who loves all things sports & betting related. Having worked in this field since 2018, I’ve experienced a wide range of intriguing bookmakers and online casinos. With this expertise, I strive to create helpful, honest articles. My primary goal is quite simple: to guide and inform readers using facts and analysis.

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