Skrill was founded in 2001, when it was known as Moneybookers. It was based out of the United Kingdom and the goal was to rival services like PayPal and Neteller, which were quickly gaining in popularity at the time of its launch. These days Skrill has grown into the second biggest online payment provider, because while it was never able to take any of PayPal’s market share, it has passed Neteller.

These days Skrill is actually owned by the same company as Neteller and it seems to get more attention from them. It earns three times as much revenue, it processes many more transactions and it also serves as a platform for most of their new innovations.

Facts About Skrill

 

• Skrill has a revenue of more than £300 million
• Skrill is owned by the same company as Neteller: PaySafe Group
• Skrill is headquartered in London, but there are offices across Europe and even in the United States
• They hire more than 500 employees across 30 different nationalities worldwide
• eBay began accepting Skrill in 2009 and it is also used as a payment method on other auction sites
• The owners of Skrill bought out Ukash and PaySafeCard to gain a stronger market share
• Skrill processes payments in more than 200 countries around the world, a number only rivalled by PayPal

Skrill Online Casinos

There was a time when Neteller could be found on 80% of all online gambling sites and that, combined with the fact that PayPal has such a huge reputation in this industry, should make life difficult for Skrill. But the truth is that Skrill can actually be found on more online casinos than PayPal.

It is often listed as an option alongside PayPal on sites like Bet365, which also offer sports betting, but on many online casinos, some of which have been listed below, it’s available in place of PayPal.

• Spin Palace
• Royal Vegas Casino
• ComeOn
• Coral
• Gala Casino
• BetFred
• Royal Panda
• LeoVegas
• BetWay
• Guts
• 10Bet

How to Deposit Using Skrill

There are several high fees associated with Skrill use and some casinos will insist that you withdraw with Skrill if you deposited with them. Because of this, we recommend that you read all of this guide before going any further and that you check to see if the casino you have chosen will allow you to withdraw potential winnings via a different method if you wish to.

1. Join the casino, making sure to select available bonuses (check terms to see if deposits using Skrill will invalidate these bonuses)
2. Go to bank options screen and select “Skrill”
3. Select the amount you wish to deposit
4. Login with your details and confirm the payment
5. Wait for the money to clear in your casino account

 

How to Withdraw Using Skrill

Before you withdraw using Skrill, check to see if the casino will charge you for doing so. Some casinos charge a high rate for transactions like this and it could leave you out of pocket without even realising it.

1. Select “Skrill”
2. Choose your account and confirm
3. Select the amount you wish to withdraw
4. Wait for the money to land in your account (should take 1 to 2  hours after the casino confirm)
5. Transfer the money to your bank account or other payment method
6. Wait for everything to clear.

 

Skrill Fees

Skrill is often touted as being a cheaper alternative to PayPal. But with PayPal allowing you to make free transactions using the Friends and Family feature and with few fees charged elsewhere, just how much truth is there to that statement?

Well, not much. The good news is that Skrill can be cheap and for some users it might be cheaper than PayPal. The bad news is that it can also be more expensive and slower. It all depends on what sort of payments you make, how you transfer your money, what currency you use and more. To give you an idea of how much you will pay using Skrill, take a look at the following fees.

• Sending Money = 1.9% (plus an additional currency rate charge if applicable)
• Withdrawal Fee = Up to 7.5% (depending on method)
• Exchange Rate: Skrill adds 3.99% to the wholesale exchange rate. This is less than some high-street options, but it is considerably more than services like TransferWise, which means Skrill is not the best option if you need to exchange a lot of money.

 

It is also worth noting that some online casinos will charge you a fee for withdrawing via Skrill and this can be quite high in some cases. On BWIN, for instance, they charge you just under 5% for processing a withdrawal via Skrill, which, when added to the money you could lose via the exchange rate and the fees you could be charged to withdraw to a bank account, you could lose more than 12% of your winnings.

Skrill Customer Support

 

To make matters worse, their customer support is not very helpful when they do reply and they don’t always comprehend what the issue is. They are far too quick to use form replies (even though they have had 2 weeks to read your request) and this can lead to endless frustration for their customers. It means that you could be in a situation where you email them to tell them about an issue, receiving a reply 2 weeks later where they get the wrong end of the stick, and then spend a further 2 to 6 weeks simply getting to a point where they understand what your issue is.

As you can imagine, it’s enough to make you bang your head against the wall. If you ever find yourself in a situation where you either need to leave Skrill for greener pastures or spend some time resolving an issue with customer support, then get out of there as fast as you can and don’t look back!

Pros of Using Skrill

• There are many high-tech features
• Can be used on many online casinos
• It has some of the highest limits of any web wallet
• Verification is easy, quick and as painless as it can be
• Payments are quick
• Easy to connect your bank account and other methods
• Intuitive interface, more user-friendly than Neteller

Cons of Using Skrill

• Fees are much higher than customers are often led to believe
• Customer support is slow and often unhelpful
• Limits are imposed on non-verified accounts
• Fees are charged even when sending money to friends
• An inactivity fee is charged if you don’t login to the service in a while