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As a person in South Africa, it only makes sense that you would want to bet in your native currency in an effort to avoid potential currency exchange fees when depositing or withdrawing funds from your sportsbook account. If you only have access to funding sources like credit card or bank accounts in the Rand, looking for a reputable sports betting site that offers Rand betting accounts should be criteria number one in your search. This is because currency exchange fees can add up quickly, so it is best to avoid them. In general, when you exchange currency, you will lose anywhere from 3% to 5% of the value of the exchanged amount.
Unfortunately there is actually very little transparency in the fee that you actually pay. You won’t see this loss of value charged as a fee. The loss will actually be hidden in the exchange rate for whatever currency you select. The financial institution or sportsbook will buy your funds at one rate, then mark it up and sell you those funds at a rate that reflects this 3% to 5% loss in the principal value of your exchanged amount. All you ever see is the rate of exchange and your new currency balance. The day’s best market rates of exchange will be much better than the retail rates that you will end up paying. So, if you generally deal in the Rand, try to bet with it also.
Betting in the South African Rand is made possible by two of my listed sportsbooks,
and these are displayed below. The only issue for you will be your ability to bank
with your sportsbook(s) of choice. Understand that there are only a few methods
that support ZAR transactions to sportsbooks. For example, Neteller is a very popular
The reason that the above sportsbook offer South African Rand betting is one of convenience for their many South African customers. It simply makes life more convenient for people to bet in their native currency and save money on fees. Make no mistake, this is no small investment. Most companies do not deal in the Rand and in fact, some sportsbooks provide the currency exchange service themselves, which is a service that they may use as another source of income.
Sports Interaction offers Rand betting accounts meaning they value you so much as a customer that they have both invested in providing these accounts to you and have forgone the change to make money exchanging your currency. If the Rand is the only currency at your disposal, you should feel grateful for this service as there are several markets in the world whose currency is not supported by any sportsbook. Enjoy the service that they offer you and respect the fact that they are respecting South Africa’s sports bettors.
However, if you do have direct access to funding sources in other currencies, like the US dollar, your choices for a betting partner will open up. In fact all of our recommended sports betting sites offer several different currencies which you can view on each betting site review, or the banking page.
BetVictor has has been in business since 1946, started in the UK. Known around the world for the most competitive football odds, BetVictor also covers cricket and rugby comprehensively with every competition available for wagering, and a vast array of betting markets. Read the full BetVictor South Africa review here.
Key South African Betting Issues