PayID is a payment solution designed to provide a quick and easy payment method. This fast online payment solution offers punters convenience in funding their wagers as an increasing number of bookmakers now accept PayID as a deposit method.
You will find some of the most well-known platforms featuring PayID to facilitate their users in making transactions via their mobiles or computers. These sites are regarded secure as the service is backed by NPP Australia (New Payments Platform which plays a significant role in managing real-time payments in the country.
If you want to learn which bookies accept PayID, here is your chance to find out. But first, let’s learn what PayID is and how it works.
What is PayID?
PayID is an initiative from NPP Australia (New Payment Platform). This fast payment infrastructure was a joint venture of the Reserve Bank and the Australian Financial Services Sector in 2018. It has gained an impressive customer base within a very short time span. Users were lured by its speed transaction services, which got the sports betting companies interested enough to incorporate it as a payment mechanism in their services.
PayID allows users to use their mobile numbers, email addresses, ABN, or Organisation identifiers to conduct financial transactions. This unique identifier is attached to your bank account and can be used as a replacement for your account number.
In simple words, it is a quick way to access your bank funds when you want to receive or send money. Instead of having to remember your six-digit bank branch number, you can use PayID. It is far too convenient than remembering the complex bank ID numbers. Whenever you need to send or receive money, all you need to provide is your number, email address, or ABN.
This makes transactions very easy, and it is not surprising to see so many sports betting sites jumping on the bandwagon and putting PayID on their list of payment methods. So customers can use it to make deposits and also withdraw their funds.
How to use PayID
To use PayID, you must first create an account. The process is simple and can be done online within five minutes. You will need to have an online banking account for this purpose. Log into your bank account and find the PayID section. Choose your preferred PayID type, i.e., your phone, email, or ABN (Australian Business Number). Enter your necessary details, verify your phone and emails, and follow the instructions to complete the process.
If you want to deposit at a sports betting website, you must first ensure that the bookie accepts PayID. If you do not have an account on the site, you must register first. To deposit, choose PayID as the payment method. You can see the site’s PayID email and username in the description section.
Open your bank website and choose email after choosing the option of paying people/merchants. Enter your username from the sportsbook in the description box so the site knows you made the deposit. Enter the amount you wish to deposit and confirm the transaction. Depending on the bank’s processing time, it usually takes 24 hours for the amount to be deposited the first time. All subsequent deposits are made instantly.
Withdrawing money via PayID is also quite easy. However, you must complete your verification process at the site to be able to withdraw. Now to withdraw money, choose PayID from the list of options, and enter the amount you wish to withdraw. You will be prompted to fill out the relevant details, following which your request will be sent for processing and approval. Once approved, it can take around one to 3 working days for the amount to appear in your account.
What bookies accept PayID?
Here is a list of renowned betting sites that feature PayID as a payment method.
Betfair is the only peer-to-peer betting platform in Australia. The platform offers PayID as a deposit method, with the minimum deposit requirement being $30.
Bet365 allows payments via PayID.
Betway is another booker offering PayID to Australian punters.
Next up, we have 888Sport, another renowned site that also allows Australian punters to make deposits via PayID.
OKEBET is a Victorian gambling platform for sports and horse and greyhound racing. The platform offers deposits via PayID.
Everygame offers a hefty bonus of up to $200 on the first deposit with a 4X rollover requirement. The minimum deposit requirement is $25.