If you want to be a successful arbitrage trader you cannot use your bank account for deposits and withdrawals – you need to use an eWallet. The Arbitrage Training team recommends Skrill to you. Deposits and withdrawals via Skrill eWallet are fast and secure; and that is exactly what the sports arbitrage trader wants. That is why I will focus here on the charges for deposits and withdrawals via Skrill.
The majority of bookmakers offer free withdrawals and deposits via Skrill, although there are some exceptions and some limitations. For example, with Pinnacle you have only one withdrawal from your Skrill account free of charge. The other ones are charged at €12.
Soft bookmakers usually don’t charge a fee, which is very positive for a surebetting strategy. The exception is bwin, which is frequently involved in arbitrage trades. They charge 3% of the withdrawal amount – so be sure that you don’t deposit too much with them.
Other charges may be applied by bookmakers if you do not rollover your deposit amount. Each bookmaker has different conditions for this, but that is the topic for one of the next articles, so stay tuned to the Arbitrage Training blog to learn more about sports arbitrages.