Pros and Cons of Apple Pay
Convenience and ease of use
Immediate transactions
Privacy protection
Enhanced security
No additional fees
Limited availability
Withdrawal restrictions
What is Apple Pay?
Apple Inc. is among the largest producers of mobile devices and computers. You might know them for creating iPhone, iPad, and Macintosh devices. Owned by Apple Inc., Apple Pay is a payment method made for Apple users. This mobile payment method facilitates contactless payments with merchants who accept it.
With state-of-the-art security, the system has eSE (embedded secure element) so that all your data is safe. To use it in your transactions, simply use Apple’s Touch ID or Face ID for proper authentication via biometrics. It is easy and has slowly become a preferred method for online and offline payments.
Apple Pay can be used in all avenues that require contactless payments. This includes vending machines, stores, and betting apps, as well as browser-based sites. It allows you to skip the long checkout forms as you pay with just a touch or glance (for face ID).
Advantages of Using Apple Pay for Sports Betting
⌛ Quick and secure transactions with face or touch ID confirmation
There are two ways to access Apple Pay. You can either use your fingerprint or face recognition. These two are very safe approaches when it comes to making payments, as they are only specific to you. You don’t have to worry about someone taking your phone and keying in the PIN or password. Even better, in case you lose the phone, Apple Pay is not accessible to other people.
Apple Inc. has ensured ultimate safety through two-factor verification. With this double checking, you can confirm that it is indeed you making the transaction request. The system also re-encrypts all the transactions with a unique key before you can make the payment. It ensures that no other application on your phone can access the information other than the Apple Pay betting site (or intended platforms).
💸 No transaction fees
Apple Pay prides itself on being a free payment method. You do not have to incur any extra charges or transaction levies regardless of the amount you are about to deposit into your betting account. It is a cost-effective option for both players and bookmarkers.
Additionally, since you operate it from your end, it is very convenient in terms of time. Apple Pay deposits are instantaneous and very easy to make. You only need to visit the sports betting site’s banking section and select Apple Pay as your preferred deposit method. After this, state how much you want to deposit and validate the transaction on your iOS gadget. The funds will be instantly available in your betting account, and you can wager on your preferred matches and sports. It is that easy!
🛡️ Advanced security features
Besides the use of face and fingerprint for security, Apple Pay also employs additional security features to protect your data from hackers and unauthorised third parties. Some of the additional features you will find include the use of NFC (Near Field Communication) technology for in-person payments. For online payments, clients can be sure that the iCloud security employed by Apple Pay is adequate. You don’t have to worry about losing your money.
📲 Ease of use and integration across Apple devices
Setting up Apple Pay is very easy. This is because the system is already built into the iPhone, Mac, or iPad. You only need to add your credit or debit card to the Wallet app on your device. It will give you the option of adding Apple Pay to other devices in one easy step. Since it is already set up, you only need to double-click or tap, and you can begin transacting.
In a sports betting site that has enlisted this method, you can load up your account and start betting immediately. The ease of use has made it a favourite for sports bettors and bookmarkers alike.
🎁 Special Apple Pay betting bonuses
Bonuses play a vital role in sports betting and gambling at large. They are incentives that make players feel appreciated and valued for being at the particular sports betting site. In order to encourage more people to pay with Apple Pay, sports betting sites have come up with bonuses specific to the method. While they differ from one site to another, some of the most common betting bonuses for Apple Pay users include welcome packages, reload bonuses and regular promotional offers.
For instance, an Apple Pay user may get 20% more of a bonus than those using the traditional deposit methods. This helps kickstart their betting journey. As a player, you must confirm with your selected sports betting site to know the bonuses and perks you are eligible for.
Disadvantages of Apple Pay Betting Sites
Limited availability and various restrictions
While Apple Pay was established in 2014, it has only started gaining traction in sports betting and gambling platforms. As such, not all bookmakers have it listed on their payment methods. Some do not accept it, and others have stopped using it in the recent past. This is hugely attributed to the restrictions set by Apple Pay. For instance, if you are part of the Apple Cash Family, the maximum Apple Cash balance you can have is capped at EUR 3650 ($4000).
Exclusive to iOS devices
As mentioned above, it is all in the name: Apple Pay. The payment method is only available for an Apple device, specifically iPhone 6 and above. Other users, such as Android, cannot access this wallet. The limit is in contrast to Google Pay, which supports a huge range of devices. Its limitation is a huge disadvantage to the other device users who may have loved to bet with it.
Typically not available for withdrawals, requiring alternative methods
Apple Pay is an effective deposit method to fund your account. However, it is not available for withdrawals, and you must use an alternative. This makes it tedious for those who want to have their money right back into their wallets after betting. The only way around it is using alternative options such as credit and debit cards, PayPal, Skrill, and Neteller, among other methods. You only need to confirm whether or not your selected sports betting site accepts them.
How to Use Apple Pay for Online Betting?
How to Create an Apple Pay Account
1.
Check the compatibility of your device
Ensure your device (iPhone, iPad, Apple Watch, or Mac) supports Apple Pay.
2.
Get an Apple ID signed to your device
If you haven’t signed using an Apple ID, you will need to do so before proceeding. This is a vital step as it helps you authenticate using Face ID or Touch ID. I
3.
Add a credit/debit card to your wallet
Open the Wallet app on your device and tap the plus sign in the upper right corner. Follow the on-screen instructions to add your credit or debit card details.
4.
Verify your information
Once your bank or card issuer has verified your card, tap "Next." Now you're ready to use Apple Pay.
How to Deposit with Apple Pay
Depositing via Apple Pay is convenient and easy. Here is how you can do it!
- Log into your betting account and navigate to the cashier section
- Select Apple Pay as your preferred deposit method and enter the amount you want to deposit
- A prompt will appear asking you to confirm the payment with Apple Pay. You can authenticate using Face ID, Touch ID, or your device's passcode.
- After authentication, your payment will be processed. Deposits with Apple Pay are usually instant, so the funds should appear in your betting account shortly.
- You're now ready to start placing bets
How to Withdraw with Apple Pay
Most sportsbooks and gambling platforms only allow for deposits via Apple Pay but not withdrawals. However, for those who accept, there is a huge likelihood that the money will be sent to the debit or credit card you used during the transfer.
Visit your preferred sports betting site and access your account. Navigate the Cashier or Banking section and check whether they allow Apple Pay for withdrawal. If they do, select it and enter the amount you want to withdraw. If they do not, use an alternative, such as a credit or debit card and follow the prompts to withdraw.
Keep in mind that in order to curb fraud, most sportsbooks and gambling sites have an approval window. For instance, you may have to wait for 1 hour to 24 hours for them to verify and approve your withdrawal request. After this, the time it takes for the money to hit your account depends on your selected method. The fastest is a cryptocurrency, while the slowest may be credit and debit cards, which take up to 5 working days.
Fees & Taxes for Making Deposits or Withdrawals with Apple Pay
Apple Pay, just like other betting payment methods, has varying limits when it comes to deposits and withdrawals. Most casinos set the minimum deposit at EUR 10, but it can go as low as EUR 5 and as high as EUR 30. It all depends on the casino you sign up for.
These deposits are instantaneous, and you can proceed to play and bet on your favourite sports as soon as the funds hit your account. Since Apple Pay is linked to a credit or debit card, the limits imposed are similar to those on the card. You need to confirm with your selected provider to know what is required from your end.
Apple Pay bookmakers do not usually charge for deposits as there are no fees for Apple Pay payments. Nevertheless, some sportsbooks may have a levy, thus the need for confirmation. In the UK, players are not required to pay taxes on their online sports betting winnings. Rather, the gambling platforms pay a 15% levy on their earnings. It is a huge benefit to the bettors.
Is Apple Pay Safe to Use with Betting Sites?
Apple Pay employs the highest level of security on payments and accounts. For starters, you will be required to use your face ID or fingerprint biometrics to authenticate any transaction on Apple Pay. This means that only you can do this.
Other measures are built into the hardware and the device’s software to protect all your transactions. It is among the safest options in the market. When coupled with a reputable betting site, the security further strengthens. This is because most bookmarkers use SSL technology to encrypt all the funds transfers. Even better, they use the latest firewall technology to help restrict unauthorised third parties from accessing.
Alternate Payment Methods - Apple Pay Alternatives
If you cannot use Apple Pay for sports betting, there are many alternative payment methods you can choose from.
Debit Cards vs Apple Pay
Debit cards such as Visa and MasterCard are a great alternative to Apple Pay. They also offer instant deposit transactions without lots of processes involved. With their security protocols and encryption, you get to keep your data safe from unauthorised persons. While the deposits are instant, the withdrawals take some time. It may take up to five days to process, depending on the sportsbook selected.
PayPal vs Apple Pay
PayPal is another popular alternative that bettors can use. It was established in 1998 but has skyrocketed within the past decade. Using it to fund and withdraw money at a sportsbook is convenient as you only need to create an account. After loading money into it, you can now transact. Most deposits are instant, while withdrawals may take a few hours.
Neteller vs Apple Pay
Neteller is a hugely accepted e-wallet across sports betting and gambling platforms. It offers the bettor safe deposits and quick withdrawals. If you are looking for a well-established and trustworthy e-wallet, Neteller is your answer. Being an e-wallet, the withdrawals are relatively fast. Some sports betting sites process within minutes, while others may have you waiting up to five hours.
Skrill vs Apple Pay
Most sports betting sites that offer Neteller also have Skrill on their list. This is a digital wallet that is widely accepted for its safety and convenience. It allows you to enjoy your betting activities without showing any personal payment details. Skrill is cheaper and does not impose minimums on the withdrawals. You get to withdraw your winnings no matter how low they are.
Bitcoin vs Apple Pay
Bitcoin is a cryptocurrency that first came into the picture in 2009. It was the first crypto and has paved the way for many more, including Ethereum, ADA, USDT, and Dogecoin, among others. Since it is a crypto, it offers enhanced privacy, faster transactions, and amazingly low fees. With Bitcoin, you can carry on with your gambling activities on crypto betting sites while keeping your identity private.
Apple Pay vs Google Pay
While Apple Pay is only available for iOS users, Google Pay caters to most Android users. It is a perfect alternative for non-iOS users who want to experience an Apple Pay-like thrill. It ensures players enjoy instant deposits and maximum protection for their personal information and details.
❓Frequently Asked Questions about Using Apple Pay for Online Betting
Apple Pay is an excellent payment method to load up money in your sports betting account. Today, thousands of gambling sites accept the payment method due to its convenience and easy set-up. However, like any other method, you need to confirm with your selected bookmarker so you can know whether or not they accept Apple Pay. You can check on the Cashier or Banking section and see whether it is listed as an accepted method.
In order to reach more mobile users, most sportsbook websites now have apps. These apps can be iOS or Android. As mentioned above, Apple Pay is only available for iOS bettors. If your selected sportsbook allows Apple Pay on its website, chances are they also accept it on their app.
Nevertheless, you need to confirm through the same method as above. Simply visit the Cashier or Banking section on the betting app and check for Apple Pay. You can also get in touch with the betting platform's customer support for assistance.
Yes. You do not need to pay any extra fees when depositing funds through the Apple Pay system. The money will be deposited into your sportsbook account instantly, and you are ready to start betting. While Apple Pay does not impose any charges, you need to confirm with your selected betting platform whether they have charges, limits, and restrictions on the use of Apple Pay.
Bonuses are a perfect way for players to get started on their betting activities. Most of the bonuses associated with Apple Pay include welcome bonuses, free bet bonuses, reload bonuses, and frequent promotions. Even though a casino may have a welcome package for the general customers, they may have an extra package for Apple Pay users. For instance, if the bonus is 100% match up to EUR 500, Apple Pay customers may get 150% match up to EUR 500.
This serves as an encouragement to players loading money via Apple Pay. You may also be eligible for a reload bonus or get free bet credits anytime you top up your account using Apple Pay. The details and wagering requirements for each bonus differ from one sportsbook to another. As such, you need to carefully check a bookmarker’s terms before you can sign up and start betting.
Apple Pay has made it to the favourite list of most bettors due to its convenience and speed of transactions. For the deposit, you only need to visit the sportsbook’s Cashier or Banking section and select Apple Pay as your preferred method. Proceed to specify the amount you want to deposit and validate the transaction on your device. As soon as this is complete, the money will be available in your online betting account. It is instant and very convenient for bettors.
Withdrawals at Apple Pay are not as straightforward as deposits. For this reason, most sports betting sites do not offer it as a withdrawal option. However, if you choose to withdraw using Apple Pay, the funds will be deposited into the credit or debit card you used. This may take up to five working days, depending on the provider.
The list of countries accepting Apple Pay for betting is long. During our review, we found more than 85 countries enlisted under Apple’s official website. Nevertheless, your jurisdiction matters as you must also find participating banks in your region. Other countries have extra perks, such as they have Apple Card and Apple Cash.
The currencies supported by Apple Pay are as many as the countries enlisted on Apple’s official website. The best thing is that the most superior ones, such as the USD, EUR, and GBP, are supported. You can transact without any problems with Apple Inc.