Home to over 150 million transactions a year, in over 200 countries, and in 40 different currencies, Skrill is one of the most trusted online payment systems in the world.
Where can you use Skrill
Skrill is a UK based online payment company which was founded as Moneybookers Limited in 2001. In 2010, Moneybookers was the fastest growing private equity firm in the UK based on profits, and five years later Skrill, as they renamed themselves in 2013, was purchased by the parent company of their rival Neteller, Paysafe Group for €1.1bn
While PayPal was out of the gambling game from 2003 until 2015, Skrill firmly established itself in its place as the number one in gambling depositing, and in 2014 became the only sanctioned e-wallet solution for legalised gambling in New Jersey. That move soon prompted PayPal to jump back into the gambling business, but not before Skrill had hold of the market.
Skrill, alongside its sister company Neteller, have now firmly cemented themselves as the most trusted online payment method for funding gambling accounts, however it must be said that there is a charge of €2.95 for withdrawing funds (whereas with PayPal it’s free) which is a bit irritating. Sending money via your Skrill account will also cost you 1% of the value sent.
As of today, Skrill has a nearly 50 million wide userbase across over 200 countries, and the fact it offers so many currencies (40 in total) is a main reason for its success. Skrill, unlike PayPal, also offers a one click deposit method which can be set up in the user’s account to speed up the depositing process.
Skrill payments are available on the vast majority of the casinos out there, and some casinos like Ladbrokes also offer bonuses when depositing with Skrill. Skrill does have a few terms and conditions when it comes to gambling, but it’s mostly to do with illegal betting. Here’s the wording on their site:
“It is strictly forbidden to make payments to or to receive payments from persons or entities offering illegal gambling services, including (but not limited to) illegal sports betting, casino games and poker games. We may suspend or terminate your Skrill Account at any time or refuse to execute or reverse a transaction if we believe that you directly or indirectly use or have used your Skrill Account for or in connection with illegal gambling transactions.
“Countries where online gambling is illegal include the United States of America, Turkey, China, Malaysia and Israel. This list is not exhaustive and it is your responsibility to ensure that you do not use our services for transactions that may be considered illegal in your jurisdiction.”
The minimum deposit for Skrill payment is usually between $10-$25, and withdrawing is instantaneous though it can take up to 3 working days for it to hit your account. Also, don’t forget that there is a €2.95 charge so make sure you’re wise with your withdrawal habits.