What is Skrill?
Before we explain what Skrill is, it is important to know how e-wallets can positively affect your poker experience in general. If you are looking for Skrill poker sites, that means that you want to use an e-wallet and make your payment more convenient. So, what is an e-wallet?
E-wallet is a type of platform where your funds are held on the Internet in an “online” wallet. Some of the most famous e-wallets are PayPal, Payoneer, Neteller, and Skrill. These are very convenient to use because you can transfer your funds almost instantly, and opening up an account does not take much longer. When you compare e-wallets to traditional payment methods, you can also notice that fees are much lower in general. But, e-wallets are a far cry from perfect and come with their downsides as well.
Founded in 2001, Skrill was originally named Moneybookers. It was the first e-wallet to be regulated by the United Kingdom Conduct Authority. After almost twenty years of existence, Skrill has maintained its position as one of the most popular payment methods for many online poker platforms, trusted by millions of players worldwide.
Skrill is now registered as Money Service Business and it even has the license to operate outside of the UK – mainly in the European Union. [1]
In essence, Skrill allows transactions for all major currencies. However, after completing the first transaction, you will not be able to choose other currencies other than the one used for your first transaction.
You can even use a prepaid card that this service offers, which is linked to your account and is available in USD, EUR, PLN, and GBP. [2]
According to Wikipedia, Skrill has made a total revenue of $331 million in 2014. [3] Their business has been growing rapidly since then. What’s more, the last year was their best, but we were not able to find back a record of their most recent earnings, they are not available online apparantly.
How is this relatable to poker in any way? Well, many poker sites allow Skrill as both a primary payment method and an e-wallet. All you need to do is open a Skrill account and connect it to one of the sites listed above.
How to Open a Skrill Account
Opening a Skrill account takes just a couple of minutes. It is a very easy process which requires you to go to their website and click “register” in the upper right corner. First of all, you’ll be asked to provide your email address and enter a password.
Next, you will have to provide your personal details, such as your first and last name and your country of residence. You also need to state your date of birth as minors are not allowed to use Skrill, especially not for the purpose of playing poker or any other gambling activity.
The third page of the sign-up process will ask you to provide your address and your second address (optional). This also includes your city of residence and your postal code.
After you have set up the details, you need choose your primary currency that you will use for your account. Please bear in mind that this cannot be changed thereafter.
Once you have successfully created an account, you will receive a verification email from Skill, giving you an option to turn on 2FA (2-factor-authentication.) This will require that you download the Google Authenticator App and scan the barcode with your phone to ensure enhanced security.
How to Make Deposits/Withdrawals with Skrill on Poker Sites
The harder part is over, and you have successfully set up your Skrill account. Connecting it to a Skrill poker site is pretty easy, and the process is similar for the most poker sites that accept Skrill.
First of all, navigate to one of the poker sites listed above and find the one that you think has the best offer for you. All of the sites listed here have some kind of a welcome bonus, so make sure to check that as well.
Next, make an account on the website (the registration process is similar on all of the sites) and go to the “cashier” section. There, you will find a “Skrill” option which allows you to connect your Skrill account to a poker website of your choosing.
Skrill Transaction Fees/Processing Times on Poker Sites
In principle, Skrill does not charge fees. According to their website, both paying and receiving money using Skrill will cost you nothing. The only thing that you actually need to pay is when you send money to another email address or to another Skrill account. In this case, the fee is fixed at 1.45%.
With this in mind, most poker sites do not charge deposit and withdrawal fees either. This means that you will not lose any money when you make transactions from Skrill to poker sites and vice versa, which is the reason why Skrill is considered one of the best payment options for poker.
Processing time using Skrill is minimal, meaning you can deposit your funds almost instantly. Withdrawing, on the other hand, takes a bit more time, mainly because poker sites need some time to process the payment. Usually, you will have to wait anywhere from 24 to 96 hours before your withdrawal is processed.
Minimum/Maximum Amounts
Unfortunately, given that every poker platform has their lower and upper limits for depositing and withdrawing funds, you should consult with your poker site about the minimum and the maximum limits. These may vary on a large sale, but the standard minimum transaction amount is $10. On the other hand, there is no standard maximum transaction, and this completely depends on the website.
Things to Consider When Using Skrill on Poker Websites
One of the biggest disadvantages to using Skrill is fixed currency. If you choose a currency that is not supported by the poker website, Skrill can make an automatic conversion at the current conversion rate. Now, this is fine but there is one big problem – Skrill charges their conversion services 3.99% per transaction. This means that if you deposit a total of $1000, you will actually be deducted as much as $39.
Apart from this, there are no other bigger downsides. Therefore, be mindful about choosing a poker site so that it accepts the currency that you have set on your Skrill account. If you already set your native currency, and it is not EUR, USD, or GBP, you might have come across a minor issue there.
Despite numerous payment methods available for poker sites, Skrill has managed to outstand most of them thanks to their high-quality service of fast yet secured transactions. Skrill’s users commend the service for allowing people to make deposit into poker and other gambling sites in seconds and with no delays.