Author Avatar
Author: Chris
Latest update:March 16, 2024

Advertising Transparency

Advertising Transparency

Please note that some of the links on our website may be affiliate links. This means that we may earn a commission if you click on links and make a deposit at a casino. However, this comes at no additional cost to you, and it helps support our efforts to provide accurate and valuable content. Rest assured, we only promote products or services that we genuinely believe in and that align with our editorial standards. Thank you for your support!

Why trust us?

Why trust us?

GambleDex was created in 2018 with one simple goal in mind. Provide accurate, transparent and truthful information. We do our best to not only review and check casino bonuses from all over the web, but to also take feedback from visitors of our site to provide the information required to gamble safely online.

This article discusses using Skrill for matched betting. A payment system to move money fast between betting accounts.

Let’s imagine you’re a matched bettor with a small bankroll. You win a back bet at the bookmaker, then a big chunk of your float moves to the exchange. You might wait a few days for a bank withdrawal – while missing out on lucrative reload offers.

Skrill can offer a solution to this issue. Skrill is like a virtual wallet provider such as PayPal.

The below screenshot shows the Betfair page to deposit via Skrill. This is a quick and easy process.

Screenshot of Skrill ewallet deposit at Betfair exchange. Using Skrill for matched betting.

Advantages of using Skrill

Debit card withdrawals from a bookmaker or exchange usually take 3 to 5 days to reach your bank account.

Skrill offers several advantages such as:

  • Move money in and out of your bank account on the same day.
  • Like a digital wallet. Deposit from your bank account to Skrill. Then, then use Skrill to deposit and withdraw your cash to where you choose.
  • Speed of moving money.
  • Not using a bank account to deposit and withdraw from betting companies.

Disadvantages of using Skrill

Skrill does have some drawbacks. Skrill deposits may not qualify for the welcome bonus at certain bookmakers. Check for terms such as “customers depositing with Moneybookers (Skrill) are not eligible”.

The majority of matched bettors use a debit card for a first deposit to a bookmaker.

Skrill is useful for reload offers, particularly at Betfair, Smarkets and more bookies.

Ewallet fees

There is a 1.45% fee (plus 50 pence) to withdraw from Skrill to your bank account.

However, you shouldn’t need to withdraw from Skrill to your bank account very often. Instead, use your Skrill wallet to move funds between bookies.

Skrill Silver VIP status in one way to avoid fees for moving funds from Skrill to your bank account.

The requirements for Skrill Silver VIP status are £15,000 of transactions per quarter. This is £5000 per month. Qualify by moving money from exchange accounts into Skrill, then back to a bookmaker.

Skrill is a great tool for matched betting. The facility to move money around quickly is invaluable.