ecoPayz Sports Betting

Overview

ecoPayz Sports Betting The long presence of a payment service provider on the market does not have to mean its products are outmoded. An excellent example in this regard is ecoPayz, an e-wallet with over 20 years of experience that is proud to offer a modern platform enabling fast, safe, and convenient transactions including deposits and withdrawals from sportsbook accounts.

There are multiple reasons for ecoPayz being a popular payment solution among online punters. One of them is that this is a particularly user-friendly method that can be used in eleven different languages – English, Spanish, German, Arabic, French, Italian, Polish, Portuguese, Russian, Chinese, and Japanese. Users can top up their accounts via multiple methods and in more than 40 currencies.

A few words about the company behind this global digital wallet. The trading name ecoPayz is used by IPS Solutions Ltd., an entity operating under the laws of Cyprus. The fintech company is authorized to issue electronic money and provide payment services. All ecoPayz accounts are held by PSI-Pay Ltd which is an e-money institution regulated by the UK Financial Conduct Authority (“FCA”).

To help you make the most of your betting experience while using ecoPayz, we took a close look at the payment service provider and invite you to learn about how to set up an ecoPayz account, fund your betting balance as well as get acquainted with all applicable fees and main pros and cons of the service.

Find the best ecoPayz bookmakers here

MyBookie
$1000 Welcome Bonus T&C Apply
$25 Min. Deposit
MyBookie
Excellent (4.98 of 5.00)
18+ New customers only. 100% match bonus up to $1000. Min deposit $50. 10x rollover requirement. Promocode: MYB100
Bovada
$250 Welcome Bonus T&C Apply
25 Min. Deposit
Bovada
Excellent (4.65 of 5.00)
Join Bovada, make your first deposit and instantly receive a 50% Sports Welcome Bonus up to $250.
Xbet
$500 Welcome Bonus T&C Apply
$25 Min. Deposit
Xbet
Excellent (4.44 of 5.00)
100% match bonus on your first deposit. The maximum bonus per deposit is $500. 7x rollover requirement must be met prior to requesting a payout.
Everygame
$200 Welcome Bonus T&C Apply
$25 Min. Deposit
Everygame
Excellent (4.32 of 5.00)
The bonus and the deposit need to be rolled over 4x at min. odds of -200 (1.5) before a payout is possible Max. $200 of every bet count towards the rollover.

How Does ecoPayz Work

How Does It Work Given the abundance of deposit methods you can top up your ecoPayz account with, you can use the provider’s services without the need to have a bank account and reveal any sensitive financial information to the online bookie you have chosen.

Types of ecoPayz Accounts

Registration To use the products and services provided by ecoPayz, customers must first register an account with the provider. The setup procedure is as simple as possible and only requires entering the usually requested information – names, username, password, email address, postal address, and a mobile phone number. The system automatically detects your location and displays your country of residence by default with the respective currency. If you want, you can select any other country where ecoPayz is available from a drop-down menu. Furthermore, customers are free to choose any of the supported currencies – EUR, GBP, USD, ARS, AUD, BAM, BGN, BRL, CLP, CAD, COP, CHF, CNY, CRC, CZK, DKK, GEL, HKD, HUF, IDR, ILS, INR, ISK, JPY, MDL, MOP, MYR, MXN, NIO, NOK, NZD, PAB, PEN, PLN, RON, RSD, RUB, SEK, SGD, THB, UAH, UYU, UZS, and ZAR.

Accounts come in five levels – Classic, Silver, Gold, Platinum, and VIP. Moving from one level to another is done by providing additional verification documents and transferring certain amounts of money. The sooner you upgrade from a Classic account, the better since it has a lifetime limit of only €2,500. The maximum amount you can send by a single transaction when holding a Classic account is €200, while with a VIP account it is €2,500. All fees, benefits, and limits are explicitly presented on the ecoPayz website.

ecoPayz Mastercard

Cards The holders of Silver and above accounts can apply for the ecoPayz Mastercard available in 8 currencies. It is directly linked to the user’s account and represents a convenient and fast way to access one’s funds. The card can be used for ATM withdrawals, online payments, and purchases from merchants from different parts of the world. As per the company’s T&C, this product is available to customers located in the UK and most EEA member states. Carefully consider what your card currency will be, since in case of currency conversion there is a 2.99% fee regardless of your account level.

ecoVoucher

ecoVoucher The ecoVoucher is a prepaid payment solution provided by ecoPayz that enables users without bank accounts or credit/debit cards to make online payments including deposits to sportsbook accounts, at websites that accept this type of payment. The voucher can also be used for topping up the main ecoPayz account.

Unlike ecoPayz Mastercard which has relatively limited availability, the prepaid vouchers can be utilized in the Middle East, Africa, Japan, India, the European Union, Latin America, the Russian Federation, New Zealand, Pakistan, and Switzerland. They can be either printed on physical cheques or receipts or given in various virtual formats.

To fund your account via an ecoVoucher you must enter the specific 18-digit pin code. No other personal information is required which is great in terms of anonymity and data security. The amount of each voucher cannot be used in parts but must be redeemed in full. The supported currencies are GBP, EUR, and USD. Denominations may differ from one region to another but usually comprise 10, 15, 25, 50, 75, 100, 150 in the respective currency.

Depositing and Withdrawing at Sportsbook Accounts

Deposits

Deposit With new payment solutions entering the market every day, funding online betting balances has become easier than ever. So, how to top up your sportsbook account via ecoPayz? Simply go to the cashier section and select ecoPayz among the available deposit methods. Depending on your current account level, you will be authorized to use your e-wallet, the Mastercard option, and/or a prepaid voucher.

After pressing the ecoPayz button, you will be redirected to the company’s website. Enter your username and password, specify the amount you wish to fund your betting balance with, and confirm the transaction. Then you can go back to the sportsbook and start wagering right away.

Withdrawals

Withdrawals As for withdrawing your winnings, the steps you must follow are almost the same as when executing a deposit. The only difference is the transaction’s timeframe. After you confirm the cashout you may have to wait up to 48 hours before you can access your funds.

Keep in mind that if you have just made your ecoPayz registration, you won’t be able to perform a withdrawal from the betting platform. This feature is available to users who have at least a Silver account. To gain such status you need to send the payment service provider a photo ID document and one more document to verify your address, plus your selfie photo.

Fees

Fees When punters choose a payment method for their betting activity, one of the main things they check is how cost-effective the service is. As with transaction limits, fees related to the ecoPayz services depend on the account level. First of all, no fee is charged when you initially create your account or when you move from one level to another.

There is a certain range of services that are free no matter what the user’s account level is. They comprise bank transfers to/from virtual IBANs, alternative currency deposits, receiving money via Western Union, inter-account transfers (excl. Classic accounts), and transfers to and from ecoPayz merchants.

If you decide to fund your ecoPayz account via a credit card the transaction fee will be 1.69-6.00% + €0.25 depending on your country of residence and your bank’s policy. Fees for bank wire deposits are between 0 and 10% from the transfer amount and 2.90% for voucher deposits. The holders of Silver and above accounts can make conventional bank transfer deposits that come with a fee of up to €10. Those who have reached a VIP level pay a lower bank transfer fee – between €2.90 and €7.00.

There is no difference in terms of the inactivity fee, it is €1.5 per month for all account levels. Currency conversion fees vary between 2.99% with Classic and Silver accounts and 1.25% for VIP accounts.

The payment service website has a separate fee table for the users having ecoPayz Mastercard. Cash withdrawals are charged a 2% fee, with the minimum amount being €1.50. Cash services such as gaming, traveler’s cheques, money orders, etc. come with a fee of 4% (minimum charge €0.80).

Fees Summary
Operation Time Cost
Deposit to bookie Instant Free
Withdrawal from bookie Up to 48 hours Free
Deposit with card Instant 1.69-6.00% + €0.25
Withdrawal with card Instant 2%
Deposit with bank account Up to 48 hours Up to 10%
Withdrawal to bank account Up to 72 hours €2.90 – €10.00

Security

Security Users of ecoPayz should have no concerns regarding the protection of their sensitive information since the company has implemented technological and operational measures to safeguard all accounts and transactions conducted through the platform. Depending on the browser settings, all your transfers are encrypted either by Secure Sockets Layer protocol or Transport Layer Security protocol.

The operation of ecoPayz complies with the Payment Card Industry and Data Security Standards (PCI and DSS) as the company uses high-level security and fraud solutions. Another evidence that you can rest assured about the safety of your funds is that the parent company of ecoPayz is regulated by the Financial Conduct Authority of the United Kingdom.

Registered users of ecoPayz have the opportunity to add an extra layer of protection by enabling a 2-step verification feature that includes a password and information sent to the customer’s phone number. If you have opted in for the service, you will have to enter a password and a verification code each time you want to use your e-wallet. The code will be sent to you either via the Google Authenticator or directly to your phone. Check if the Google Authenticator app is properly synchronized since if it is not, verification codes may get rejected.

If you select the “Trusted devices” option, you can add your device to a trusted list allowing you not to provide a verification code when you use that particular device for logging into your ecoPayz account.

Mobile App

Mobile Apps Nowadays, online sports betting is overwhelmingly experienced via punters’ mobile phones even if they are not classic on-the-go users. Mobile technologies are on the rise and payment service providers compete for customers’ attention by providing fast-loading and flexible dedicated apps.

EcoPayz started working in this direction back in 2009 when the company launched its first downloadable app intended for iOS devices. In November 2020, the company presented its new mobile application available in the EEA, Switzerland, and the United Kingdom, this time suitable for both the users of devices with Android and iOS operating systems. If you are located in a country outside the EEA, you must follow a separate link placed on the ecoPayz’ website and download the application.

Except for the basic features that allow users to perform deposits and withdrawals while on the go, the application boasts of the high level of protection it provides thanks to the Face ID, Touch ID, and passcode options. Users who download the dedicated mobile app can transfer funds to other holders of ecoPayz accounts, control the usage of their ecoPayz Mastercard, and receive push notifications. Furthermore, they can get personal IBANs, link them to their ecoPayz accounts, and thus perform transfers to and from the account.

Currently, the newly introduced payment mobile application is available in English, Polish, German, Spanish, French, and Portuguese, but the company has announced that it has planned to add more languages in the near future. This will probably happen very soon given the fact that the mobile app intended for users outside the EEA can be used in 12 different languages.

At the moment of writing this review, the last update of the app that can be downloaded from Google Play is from January 21st, 2022. The new version of the application requires Android 7 and up. Punters who use iPhone, iPad, or iPod Touch can download the payment app from the App Store provided that the version of their devices’ operational system is 13.0 or later.

Mobile App Features
Send Money yes
Receive Money yes
Top-up from bank account yes
Withdraw to bank account yes
Deposit to bookie yes
Withdraw to bookie yes

Advantages

Advantages Although many payment services can be utilized for online sports betting purposes, few of them are so well fitting as ecoPayz. The payment provider is officially accepted in more than 160 countries and lots of bookmakers have started accepting ecoPayz deposits and withdrawals allowing punters to enjoy multiple perks.

In the field of online gambling, the opportunity to make a deposit to your account and start betting in just a few minutes, sometimes even seconds, is a major plus. Those payment service providers who can provide that kind of feature can rely on a large user base. Having in mind the long existence of ecoPayz on the market, the company has done a pretty good job in this direction.

Our everyday life is so arranged that we use payment solutions, one way or another. The abundance of options is significant and one of the ways to attract customers’ attention and stimulate their active use is through VIP or rewards programs. To reach the VIP account level of ecoPayz, users need to fulfill some conditions including spending a cumulative amount of €250,000. In return, they can benefit from high transaction limits, free international transfers, and a reduced currency conversion fee for e-wallet transactions. In addition, ecoPayz occasionally launches promotional campaigns and sends exclusive promo codes to its loyal customers.

The approach of ecoPayz to provide operational comfort is perceived very well by customers from all around the globe. We will mention several things in this regard. First, users are allowed to top up their accounts in more than 40 currencies which is a sign of personal attitude, something we highly appreciate. Second, although not numerous, the payment services you can fund your ecoPayz account with, are varied enough to offer something for every taste. Last but not least, with the provision of a digital wallet, an ecoPayz Mastercard, and ecoVouchers, the service provider enables customers to use ecoPayz no matter what their payment habits are.

Not every payment service is accompanied by a dedicated mobile app, but this is not the case with ecoPayz. The company has developed and constantly updates a payment application that can be the perfect method to top up your betting account balance while on the go.

Disadvantages

Disadvantages To be 100% sure that ecoPayz is a payment service that meets your needs and preferences, you must be aware of the possible drawbacks it comes with. In our opinion, most of them are inessential and are not capable of making you ignore the above-stated positives.

The present-day punter is pampered by an exceptional variety of online payment solutions and frowns on things as small as the indispensability to register an account with the service provider. This should not be a major concern since the sign-up procedure only takes a couple of minutes. However, if users decide to upgrade to a higher level, things become a little complicated. The second Silver level is mandatory for bettors who intend to use ecoPayz to withdraw their potential winnings. For this purpose, they have to send two separate ID documents and a selfie photo. So, no anonymity here.

It is true that ecoPayz offers not only a classic e-wallet but also debit cards and prepaid vouchers. Unfortunately, they are not universally available, and registered users residing in countries outside the EU and the EEA cannot enjoy the enticing bonus features.

The live chat feature of the company’s website is available 24/7 and is usually the easiest way to contact a representative of the ecoPayz customer care team. Nonetheless, there are a few isolated cases of customer complaints regarding the speed of support in the last couple of months. We strongly advise you to carefully read all terms and conditions to avoid account closure due to an unintended discrepancy with the rules.

Countries Where ecoPayz is Used as a Deposit Method for Sports Betting

Countries Established back in 2000 as a prepaid card provider with the name EcoCard, the company is consistently expanding its products portfolio as well as the number of countries whose residents are eligible to set up ecoPayz accounts. As per the latest data, the digital wallet of the brand can be used by customers from more than 160 countries on all continents. The same is not true about ecoVouchers and ecoPayz Mastercard. As previously explained, these services can be used only on the territory of the UK, the EEA, and the EU – Portugal, Spain, France, Germany, Italy, Poland, Denmark, and some other countries.

Until recently, Norway was also among these countries. However, following the example of the two most popular e-wallet brands Neteller and Skrill, ecoPayz decided to withdraw from the local payment market. This action is a consequence of some legislative amendments that impose strict restrictions on all gambling-related money transfers. Since ecoPayz focuses mainly on servicing the online betting sector, the company had no other choice but to completely give up on working in the country. The only European countries apart from Norway where the payment solution is not available are Belarus, Albania, and North Macedonia.

It is noteworthy that although the payment service may be approved in a particular country, this does not necessarily mean local customers can use it for topping up their sports betting accounts. For example, in Hungary, Turkey, and Israel users are allowed to hold ecoPayz accounts but they are restricted from sending transfers to online sportsbooks.

The list of completely banned countries is not that long, though. If we have to divide them in terms of the continents on which they are located, the vast majority are located in Africa. The only exceptions from this region are South Africa, Egypt, Rwanda, a few more countries. As regards the other parts of the globe, the biggest absentee is the US.

FAQ

  • I just came upon ecoPayz, is it legal?

    You have nothing to worry about. The parent company of ecoPayz is monitored and regulated by the UK Financial Conduct Authority so it is completely legal to use the service provided that it is approved by your local regulatory bodies.
  • How much do transactions via ecoPayz cost?

    The availability and/or value of transaction fees depends on your current account level. Money transfers to other ecoPayz account holders cost nothing from level Gold and above, while for Silver accounts the fee is 1.50% (min €0.50). Sending money to ecoPayz partner merchants is free of charge. For all other applicable fees, you can visit the company’s website.
  • Am I eligible for a welcome bonus if I deposit via ecoPayz?

    The answer is short - yes. We checked multiple online bookies and neither of them has a bonus restriction covering ecoPayz.
  • I made a registration but I don’t see the option for requesting an ecoPayz Mastercard. Why?

    There are two possible reasons for that. If you have just registered and still not completed your account verification, you are not eligible to have the special debit card. It is available only to the holders of Silver and above accounts. If you have already upgraded your account and you still don’t see the ecoPayz Mastercard option, this probably means you are located in a country that is not the UK or a member state of the EEA/EU.
  • How can I upgrade my account to Gold level?

    Users must meet several requirements before being able to go up to a Gold account. These are as follows:
    • To have a verified debit or credit card;
    • To send an address and identity evidence;
    • To have deposited at least €2,500 by a credit card or €5,000 in total (or equivalent in another supported currency);
    • To have used a Silver account for at least 30 days;
    • To have transferred to merchants the overall amount of at least €25,000 (or equivalent in another supported currency).
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