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How to deposit with PayID at Betfair to place bets on horse races?

How to deposit with PayID at Betfair to place bets on horse races
How to deposit with PayID at Betfair to place bets on horse races

PayID is a new payment method right now available at many online bookies and online casinos. Australian punters can fund their online bookie account using PayID and place bets with real money on horse races or any other sports even with their smartphones.

PayID is a simple service that makes paying money faster and easier. You can create a PayID by choosing something easy to remember, like your phone number, and registering it with your bank. This means your PayID is information unique to you, like your phone number, email or ABN, that can be securely linked to your nominated bank account.

The next time you want to deposit at the bookie, instead of sharing your bank  or credit card account number, simply share your PayID.

The PayID addressing service is operated as part of the New Payments Platform, which is managed by NPP Australia Limited. For privacy and security reasons, PayIDs can only be registered and managed by participating financial institutions, which is why it is best to speak to your financial institution about your PayID.

How to deposit with PayID at Betfair to place bets on horse races?

Payid deposits

To deposit with PayID at Betfair to place bets on horse races first you need to create your PayID. You can do this typically via your usual mobile or internet banking.

Once you have created your PayID, the next time somebody needs to pay money into your bank account, you can give them your PayID instead of your BSB and account number and if you need to pay someone else, simply ask them if they have a PayID.

When it comes to paying another person’s PayID, you should find the option to do this in your participating financial institution’s online or mobile banking. Depending on who you bank with, the ability to pay to a PayID may automatically appear as an option, or you may be required to choose an Osko or fast payment first. 

Betfair Cheltenham free bets
PayID bookie – Betfair

When you enter the PayID you intend to pay, the name of the person or organization like the online bookmaker that owns that PayID will be confirmed before you make the payment. All you have to do is simply confirm it’s the right bookie and your bank will securely communicate with their bank, sending the money via PayID into their bank account and as part of an Osko payment, the money will arrive usually within a minute.

The way you register a PayID could differ between banks, but in most cases you create a PayID within your usual mobile or internet banking. During the process select which account you wish to link your PayID or multiple PayIDs to. You will need to prove that you are the rightful owner of the information you are using for your PayID and the bank account you are linking it to – the way you would usually identify yourself when dealing with your bank.

If you have more than one account you can register a different PayID for each account.

Just remember, a PayID can only be linked to one account at any given time and if you have a joint account you can have multiple PayIDs linked to that account.

Click here to find the list of participating financial institutions currently offering PayID service in Australia

The PayID types available to you depends on who you bank with, but typically a PayID can be a phone number (which may include landline, mobile and international numbers, an email address, an Australian Business Number (ABN), an Australian Company Number (ACN), an Australian Registered Body Number (ARBN), and an Australian Registered Scheme Number (ARSN). If a financial institution does not support all PayID types, customers can still make and receive payments using a BSB and account number. Your participating bank, credit union and building society will be able to tell you the PayID types available to you.

PayID payments can only be made from online and mobile banking of participating banks, credit unions and building societies. This means the same very high level of security that protects your existing bank accounts payments will also protect your PayID payments.

Betfair deposits
Betfair deposit options
  • At Betfair bookie you can make a friendly deposit using PayID.
  • All you need is to pick your mobile or on PC or tablet to place bets on any sports or races.
  • Now type the bookmaker site URL https://www.betfair.com.au/and enter instant on your mobile or PC
  • Once you have set up your account by clicking on Sign Up or Join Now from the home page  at Betfair you become a registered player with Betfair bookie.
  • Now go to cashier page with your device.
  • There you will find so many payment options listed
  • You need to select PayID if you want to use it for deposits to bet on sports and races
  • Through your Internet Banking or App (may only be available through your bank’s mobile App), Select ‘PayID and enter the amount you wish to pay to the bookmaker and select the email option (navigation will vary depending on your financial institution).
  • Remember the bookie will reject all third party payments or amount sent by any person on your behalf. You will be liable for all costs incurred to return these funds.
  • Next open your email ID with which you have registered at the online bookie
  • Follow the given instructions
  • The instructions on email will tell you the bookie account and PAYID number
  • Now Enter your Betfair Username with which you registered and opened your Betfair account.

Account: Banking@betfair.com.au

Description: Enter your Betfair Username

Confirm the PayID name is displayed as “THE SPORTING EXCHANGE (CLIENTS) LIMITED”.

The minimum amount you can deposit is $30 and the processing time can vary between 10 minutes – 12 hours. The transaction is free and no fee is charged.

Through your Internet Banking or App (may only be available through your bank’s mobile App), Select ‘Pay Anyone’ and select the email option (navigation will vary depending on your financial institution).

You are done and successful with PayID deposits.

Now you are ready to place a bet at sports of your choice with real AUD.

Besides Betfair there are many other bookies and online bookies that allow PAYID as deposit option to fund your bookie account for sports betting in real time.

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