PayID Betting Sites

Facts

What is PayID and Why Is It Popular Among Online Sportsbooks?

PayID is a payment processor created to ensure Australians have a fast and easy way to transfer funds. The banking option is owned and managed by New Payments Platform Australia Limited (NPP), a domestic payment infrastructure owned jointly with 100+ banks.

With it, you only need information that’s exclusive to you, such as your phone number or email address. This easy-to-remember information eliminates the need for traditional banking details such as account numbers or BSBs when you want to be paid.

PayID is a great way to send instant payments to other PayID users, provided you have their details. For instance, you can use it to pay your half of a split bill or pay for a service rendered.

In addition, your bank works closely with PayID as an Internet banking solution. Some of the most popular institutions include

• CitiBank
• Reserve Bank of Australia,
• Alliance Bank
• HSBC.

In total, the banking solution partners with more than 100 banks and financial institutions available locally.

Reasons for PayID’s popularity in sports betting

PayID’s popularity among bettors is growing rapidly for a number of reasons. Firstly, punters do not have to double-check any platform's PayID details to initiate a payment. Simply enter the unique PayID email provided by the betting platform.

Note that sportsbooks generate unique PayID email addresses for punters to use for deposits and withdrawals. But this is not the same PayID that you should use to receive funds from other customers. It’s just the one associated with your account on that betting site.

Secondly, bookies only send payouts through the PayID email or phone number you provide. Knowing that your funds won't end up in another user’s account gives you peace of mind.

Further, the banking option processes deposits instantly and is available around the clock. Unlike some options with relatively longer waiting times, PayID users get to start or continue betting immediately after they make a deposit.

That aside, the solution ensures accuracy by indicating to punters the betting platform’s name when making a payment. This payee confirmation step reduces the risk of accidentally sending money to the wrong recipient.

With that said, PayID is a secure payment method since you never have to share your bank or personal details at any point. Transactions made through the payment service are also subject to regular screenings and authentications by financial institutions.

How PayID Works

As long as your preferred bank or building society supports the payment service, then your account already has the PayID feature.

Simply use the “Find My Institution’ feature on the bank’s official website to know if yours is among them. If not, you may have to open a bank account with a partner institution to use the service.

PayID uses your preferred bank’s online banking systems, and a simple set up is required to get it running. With that done, your PayID will automatically link to your bank account.

The payment gateway works similarly to other options, except for the fact that you’ll need a recipient’s phone number or email address instead of their account number and BSB (Bank State Branch).

Football betting

Football holds a special place in the country’s sports culture. Therefore it’s no surprise that it's the most wagered on sport at PayID betting sites. Bettors’ attention is usually drawn to local leagues such as the A-Leagues.

Internationally, Aussies bet on various European leagues, including La Liga, the English Premier League and the UEFA Champions League. The leagues are broadcast widely locally since they have lots of supporters.

PayID sports betting sites offer different markets for this sport, including goal scores, match outcomes, and HT/FT results. Also, you’ll find sites that offer in-play betting options. This allows bettors to place wagers as a match progresses, thus enhancing the thrill of football betting.

Horse racing betting

Yet another sport that Australians are passionate about is horse racing. Each year, iconic events such as the Melbourne Cup are held, and Aussies wager heavily on them. Because of this, the Melbourne Cup has been dubbed the race that stops the nation.

Other domestic horse races popular locally include the Caulfield Cup and Cox Plate. Internationally, Aussies bet on races such as the Kentucky Derby and Royal Ascot.

PayID sportsbooks offer markets ranging from trifectas and quinellas to win and place bets. With annual horse races held year-round in the country, bettors have numerous opportunities for placing wagers.

Tennis betting

Betting on tennis online is also popular in the country, especially during the Australian Open. This is one of the four Grand Slam events that Aussies wager heavily on. International tournaments such as the US Open, the French Open, and Wimbledon are also popular locally.

PayID bookmakers often let you set results or bet on match winners. Others have live markets for punters looking to gamble as a match progresses.

Further, smaller WTA and ATP events have several betting opportunities all year round. This way, you are bound to find numerous markets on international and domestic betting platforms.

Rugby betting

Rugby is yet another favourite sport among Australian punters. As such, the National Rugby League is one of the most popular domestic competitions that you’ll find at PayID sports betting sites. Globally, you’ll find competitions such as the Rugby World Cup and Super Rugby.

In this sport, you get to wager on various markets including player performances, point spreads and match outcomes. Aside from that, you will also come across betting platforms that offer in-play wagering. This makes gambling on the sport highly engaging for bettors looking to react to player form and game development.

MMA betting

MMA (Mixed Martial Arts) is rapidly growing in popularity among bettors in the country. Competitions such as the UFC (Ultimate Fighting Championship) have been dominating the betting scene in recent years. Israel Adesanya is among the most common names that you’ll come across when you opt to bet on this sport.

In MMA, punters get to wager on methods of victory, round durations, and fight outcomes Unlike WWE, MMA is not scripted, thus making it a rather enthralling sport to bet on. Its global appeal and unpredictability have made it a favourite sport for punters seeking dynamic and exciting betting options.

Sites with the best odds

Although betting sites offer odds on various markets per sport offered, the odds usually vary. This is based on each site’s policies and the number of bets placed on a certain event.

Most bettors tend to confuse between fraction and decimal odds. This makes it much harder for them to pick a PayID sportsbook with the best odds.

Fraction odds are represented as a fraction (7/2), while decimal odds are represented as a single decimal number (6.00).

Nonetheless, decimal odds tend to be easier for quick calculations but may still prove difficult to some bettors. For that reason, we sifted through the various sports betting sites to bring you those with the most competitive odds. Below are the PayID sports betting platforms with the best odds currently.

• KatsuBet

Fast payout betting sites

Every betting site has its own processing speed when it comes to cash-out requests. This is usually determined by various factors, including betting patterns checks, site policies, withdrawal methods, and payout limits.

To that end, you’ll find PayID betting platforms that process withdrawals faster than others. Bettors on these sites tend to enjoy much-needed peace of mind when cashing out their winnings.

Finding PayID sportsbooks with speedy withdrawals is not an easy task. For that reason, we have tested out various sites to bring you those with the quickest payouts. Check them out below.

• Bet365
• N1Bet

Betting apps

Most punters prefer placing bets using their mobile devices. To that end, it is prudent that online sportsbooks develop downloadable apps or at least optimise their websites for mobile usage.

In this section, you’ll find PayID betting sites with the best mobile apps in terms of optimization and functionality. The list is compiled after a thorough scrutiny of the betting apps available. Check them out below.

• 1Bet

PayID Taxes and Fees

Here’s the deal when it comes to using this service. Personal money transfers through PayID are free across most Australian financial institutions.

The transaction costs may, however, vary a little if used on platforms such as sports betting sites. These platforms tend to impose charges based on their internal policies. For that reason, let’s look at the various charges and tax considerations when using PayID.

First, many AU banks and financial institutions never charge holders of personal accounts for using PayID. So, whether you’re making payments or receiving funds, expect no fees by the payment service provider.

Some bookies may impose a small fee to process a transaction, especially when cashing out using PayID. Always ensure to check the preferred bookmaker’s terms and conditions.

Further, Australia does not impose taxes on recreational punters as the law considers the winnings “windfall gains” and not taxable income. To that end, PayID betting sites won't deduct any taxes from your winnings.

Other fees to expect include currency conversion fees. If betting on foreign sportsbooks, currency conversions usually apply if the bookie does not support AUD. Conversion fees depend on prevailing rates and the bank’s policies.

Overall, using PayID is relatively pocket-friendly compared to most banking options in Australia. All you need is a bookmaker that does not charge for money transfers made using this method.

PayID Global Coverage

The banking option is primarily and commonly used in Australia and its territories. It is powered by the NPP (New Payments Platform), a domestic payment infrastructure owned jointly by more than 100 financial institutions across Australia.

Launched in 2018 by the Reserve Bank of Australia, PayID is dedicated to ensuring secure and fast transactions within the country. Its cost-effectiveness, speed of transactions, and simplicity have made it a go-to banking solution locally. The best part is that it has even expanded its reach to online bettors.

Outside the country, the scope of PayID services is pretty limited. Countries like Singapore have iterations of the banking option under different names, such as PayNow.

These alternatives use similar identifiers like PayID to process payments. While they share functionality, these foreign solutions don’t interact directly with PayID.

When it comes to the delivery of services, the payment service exclusively covers Australia’s domestic financial transactions in real time. Aussies can access its services 24/7 and enjoy instant payment processing. You may have to consider other global methods like SWIFT for international transfers.

New Bookmakers Accepting PayID

As PayID grows in popularity, it is bound to partner with more online betting sites. This makes it even harder for punters to locate newer sites with fresh ideas and features to make their experience more fun.

Not to worry, though. We know how challenging and daunting this task can be. For that reason, our team of experts is always on the lookout for new betting sites that accept PayID.

We test out various vital aspects of these platforms, including withdrawal speeds, bonuses, customer support quality, and sports offered.
With us, you can always be assured of the best brands. Looking to try out the newest sportsbooks that accept PayID? Check out the following betting platforms.

Bottom Line

Direct bank transfers are not the only way to move money instantly to and from your bank account. In Australia, PayID presents a safe, fast and easy way to do just that. The payment method is accepted in several sports betting sites in the country.

Best of all, there are over 100 partner banks, which means larger coverage. If you have an active account in any of these financial institutions, PayID is at your disposal.

To use it, all you need is a valid email address or phone number. This acts as your unique code and you'll use it in every transaction. You can have one PayID for multiple accounts or create a different PayID for every account. If you choose the former, managing your money moves is easier.

This payment method doesn't charge any transaction fees. However, your bank or bookie may do so. Make sure to read the fine print before you jump on board.

About speeds, this banking option is faster than most. Deposits are instant, after your bank releases the money. Withdrawals take around 24 hours depending on the sportsbook. For faster payouts, consider fast withdrawal betting sites. Overall, PayID is an ideal payment method for punters in Australia.