Sports betting with direct debit

If you have been wondering about direct debit and how it works for bookmakers for a while, you have come to the right place. In this test report you will learn a lot about the direct debit procedure and everything that is connected with 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 calls from your smartphone throughout the month. This incurs 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 procedure.

With a betting provider with direct debit, it looks like you will receive bets on your available bets for one 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 procedure for you than for a direct debit bookmaker. And all this because there is an effort for him every month. Since your rates are different every month, the bookie can't collect a fixed amount every month.

This means that people in the accounting department have to work here 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 commercial relationships, direct debit offers a high level of security for both parties to the contract.

The seller of the service can usually debit the bill 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.

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 through the banking system.

In this context, you will be particularly interested in the reasons for which a direct debit can be refused.

The reasons for this can be different. At this point, however, 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 direct debit.

First of all, technical reasons may be the reason why the direct debit did not work. This can be, for example, missing mandatory information. Therefore, always carefully check that you have provided all the necessary information.

Also, an incorrect IBAN number may be the reason why the corresponding amount cannot be debited from your account. Before issuing a direct debit authorization, you should check all personal information in advance.

Animated mandates and account closure can be other reasons why the debit did not work on the corresponding transactions. It is also especially 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 debiting.

If you follow these important tips and tricks, processing your direct debit payment should not be a problem in practice.

Direct Debit Bonus

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What are the best alternatives to sports betting by direct debit?

As promised, our experts have presented useful alternatives to the sports betting direct debit method. There are a few of these. Let's start with bookmakers with online banking deposits.

In this case, we are talking about sports betting with a bank transfer, which you make online rather than on paper. It can be a classic instant translation. In this case, the method is executed immediately.

If you use classic bank transfer for your online sports betting in Germany and choose it 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 option with instant bank transfer or Giropay. This is a very secure method that usually does not incur any additional costs for bookmakers. Transfer options must be offered by every bookmaker. If you make a deposit using a method such as a prepaid card, the bookmaker will have to transfer the money to your bank account when you make your first withdrawal.

Credit card payment required

Even if you do not find bookmakers for sports betting or direct debit, there is an important method that is also supported by all bookmakers. And unlike traditional bank transfers, sports betting with a 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.

Usually, 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 with this method, but this will take some time.

Credit card payments are considered very safe today. They are verified like transfers from Sofort-uberweisung by the Tan-Code. Before you make a transaction, you 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 at 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 withdrawals. 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 of activating an offer are excluded from the sports betting bonus comparison or casino bonus comparison, such as casino free spins, then these are the methods.

Direct debit procedure

The biggest challenge for debit bookmakers has been chargebacks.

But there were bookmakers who actually supported direct debit when placing sports bets. And these debit bettors have more to lose than just the money in their accounts.

The chargeback option was much more problematic. Because with payments by direct debit in Germany, customers have the option to return the payment at any time. A full six weeks.

In other words, the fraudulent criminals paid out their winnings first and then returned the debit note. The bookmaker, of course, had the opportunity to file a lawsuit against these fraudsters. 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. Even Intertops, which for a long time was the only bookmaker to offer this service, has since deviated from it. They all now rely on alternative payout and deposit options for sports betting.

The methods offered for your online betting in Germany, such as sports betting, do not just intelligently replace the direct debit method. They also offer you additional benefits that direct debit did not offer at the time. In the following, we present 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 becomes 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. Even with the popular PayPal alternative, bookmakers do not charge commissions. 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 rolls into the house. If there are not enough funds in your betting account, the mobile operator is left to pay 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 and sports betting.

A payment method where the bookmaker pays first upfront and you can use infinite bets will be deadly for gambling addicted prognosticators.

Reputable 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 during 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 your first withdrawal using the method you used to make your first deposit. This requirement is intended to prevent money laundering.

This means that if you work with MuchBetter sportsbook, for example, you will receive 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 is 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 now had to sue and try to sue these customers.

In short, this method offered criminals so many attack opportunities 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 operates, and this includes using only those payment methods that do not incur any expenses, the less he 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 betting providers.

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 with direct debit cost you??

The providers in our bookmaker comparison 2022, which have offered online sports betting by direct debit in the past, usually charge a commission for it. This can also be explained relatively easily.

With a direct debit bookmaker or direct debit betting on sports betting, the direct debit betting provider incurs additional costs. We have briefly explained this to you 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 real people should not work in a settlement center.

Because errors or technical problems occur again and again, where real people have to intervene. Let's compare an example for example with a credit card deposit.

In the case of a credit card deposit, the credit card provider takes over the payment process. Money is only transferred 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?

When the top bookmakers supported sports betting by direct debit in 2022, there was always a favorable balance available to you at the drop of a hat. The direct 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 by 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 decisive advantage for you as a dump truck, then not only the convenience, but also the immediate availability of credit.

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 transfer, the credit is always available immediately. From this we can see that there are no more direct debit bookmakers today. When it comes to getting credit quickly, there are many alternatives.

The fact 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 that supports the direct debit procedure in sports betting is now easy to explain: For player protection reasons alone, offering a direct debit bookmaker makes no sense. Because with this method you could get into debt relatively quickly. As with your cell phone bill, you can also make premium rate calls for a month if you like.

In summary

Direct debit is used to pay bills. The debtor gives his creditor a one-time or permanent permission to simply debit account amounts from his account. This requires written authorization for direct debits, which the lender must provide to its bank.

There is a risk that the debt collector debits wrong and too high amounts from the account of his customer.

In order to give the debtor the opportunity to react, the law stipulates 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 countless 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 the sportsbook and gamble on the side.

In case of loss, the user just has to go to the bank and get his money back without much hassle. 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 bookmakers offer 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 1. December 2021 Intertops will no longer be available for sports betting customers residing in Germany.

Why online bookmakers do not offer sports betting by direct debit?

Betting providers do not accept payments by direct debit for security reasons. Customers could simply debit the payment amount back to their online bank account via direct debit. It makes sense that online bookmakers do not want to take any risks.

What alternatives are there 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 via 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 for sports betting?

Yes, PayPal is a great and absolutely secure payment method, which is also offered to you by numerous online betting providers. 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 procedure in relation to online sports betting, because the online betting provider has excellent alternatives for deposits and withdrawals.