MuchBetter is one of the most interesting new betting deposit additions in recent years and whilst still in it’s infancy does have some of the established e-wallets rattled.
Designed for the online gambling field, MuchBetter is an e-wallet with a few added extras. To find out all about those added extras and which betting sites accept MuchBetter payments, just keep reading.
Best MuchBetter Betting Sites
*Currently 888Sport and Betfair are the only online bookmakers we recommend offering MuchBetter – if more adopt this payment method then we’ll update our list as soon as it happens (last update 23-11-2020).
Deposits & Withdrawals
How To Use MuchBetter: Deposits & Withdrawals
Setting Up MuchBetter: The Process
Your first step to using MuchBetter to fund a betting account is to download the MuchBetter app. The app is available for Android here and iOS here. You can download it straight from either the Play Store or the App Store if you prefer.
When you first access the app, on-screen instructions take you through a simple registration process. You’ll have to provide some basic information. That will include your name and address, and your email. You’ll also need to enter your mobile number, as it will double as your MuchBetter account number.
Once you’ve provided those details, you’ll be able to use some of the more basic MuchBetter features. To gain full access to the service – to be able to send money or make withdrawals – you’ll have to validate your identity. You can do this by sending an electronic copy of your passport or other photo ID.
Your next step is then to fund your new MuchBetter account. To do this, tap the ‘Top Up’ button on the app’s homepage. That takes you to the funding area of the app. Once there, you can choose how you wish to fund the account. Options include by debit card, by credit card and even via bitcoin. Whichever method you choose, topping up is like any online purchase by that method. You need to input all the same details (card number, expiry date, etc.).
Depositing: How To Fund You Account
Once you’ve got a funded MuchBetter account, you’re ready to make a deposit to an online betting account. Head to any betting site that accepts MuchBetter as a payment method. Go to the ‘deposit’ or ‘cashier’ area of your account. Then, choose MuchBetter as your preferred deposit option.
After entering how much you wish to deposit, you’ll also need to input your phone number (and MuchBetter account number). You have to enter your number complete with the right country code and without the leading ‘0’. The UK’s country code is ‘44’. If your number were 07712345678, for instance, you’d need to enter 447712345678.
When you submit your deposit amount and mobile number, you’ll get an instant notification from the MuchBetter app. It will ask you to confirm the transaction to the betting site. Log in to the MuchBetter app and tap the ‘Send Money’ button to do so. Assuming your account has sufficient funds, your deposit will be made instantly.
Withdrawals are also possible via MuchBetter. The option is available wherever you can deposit via the method. The process of withdrawing to a MuchBetter account is exactly the same as that of depositing. You enter how much you want to withdraw, input your phone number and confirm the transaction.
Currently it takes about 4-5 business days to process withdrawals made using this method.
MuchBetter Fee’s: Take Note
Deposits to and withdrawals from betting sites via MuchBetter can be made free of charge.
Unfortunately, there are sometimes fees for funding your account in the first place. As well as for withdrawing any money back to a bank account or card.
When funding a MuchBetter account, you’re best off choosing to do so by bank transfer, Visa or Mastercard. They’re the funding methods that aren’t subject to any charge for UK residents. Funding your account by any other method will be subject to a fee of somewhere between 1.5% and 7%.
All methods of withdrawing funds from a MuchBetter account are subject to fees. You can find out the exact nature of these fees in the ‘Withdraw’ area of your account. The company do not make the fees obvious to anyone without their own MuchBetter account. You’re not likely to have a withdrawal method available to you, though, which won’t incur a charge of at least 2.5%.
Security & Anonymity
E-wallets, such as Neteller and Skrill, have always been popular with punters and online gamers. The main reason is because they provide a buffer between a user’s bank account or card and the gaming sites they use.
MuchBetter also boasts that particular benefit. As you’d expect of a service aimed at punters and gamblers. When you fund your account, it’s MuchBetter’s details that appear on your bank or card statement. Where you subsequently use those funds – be it at a betting site or elsewhere – doesn’t show up at all.
Aside from that anonymity, MuchBetter also boasts a range of impressive security features. MuchBetter transactions are protected by dynamic security codes. As well as an extensive transaction review system. Depending on the mobile device you use, device pairing or touch ID can also add an extra layer of security.
What Is MuchBetter?
MuchBetter is an e-wallet that had been specifically designed for online gambling transactions but has now evolved into a fully blown e-wallet. It’s fair to say their in the marketplace to compete with the likes of PayPal and offer a very similar service.
Can I Get A MuchBetter Card?
MuchBetter do give users the option of getting their hands on a MuchBetter card. This is a virtual MasterCard that’s linked to your MuchBetter account. It has a card number, VVC code and all the other main features of an actual debit card. As such, you can use it with any betting site that accepts MasterCard for deposits.
Why Don't More Betting Sites Accept MuchBetter?
The MuchBetter e-wallet was launched in 2019 specifically with online gaming in mind so they really are the new kid on the block and need time to establish themselves in the market. Given their specific focus, it’s fair to assume that more sites will adopt the payment method in due course.
Who Owns MuchBetter?
MuchBetter is a brand owned and operated by MIR Limited UK. MIR Limited UK is a comparatively young company based in Reading. The company has been around since 2017. It’s licensed and regulated by the UK Financial Conduct Authority (FCA). The FCA recognise MIR as an Electronic Money Institution (EMI).