Online Sports Betting Deposits
Welcome to the our guide to funding online sports betting accounts, where players can learn everything there is to know about depositing into an online sportsbook that takes U.S. players. While it may seem logical that the first step toward placing a real money wager is putting funds into a sports betting account, there is a lot of behind-the-scenes information that users should know before making that initial move.
Whenever the subject turns to money, you should definitely want to know more, and this article is set to describe all of the safe and efficient deposit methods that USA online sportsbooks use. You will learn how to make a deposit, as well as what each method entails, and by doing so, you will set yourself up for success in the long run. Additionally, this guide to online sportsbook deposits will explain how these sports betting sites are able to accept funds from U.S. players legally, as well as include a review of one of the top-tier online sportsbooks that is sure to have an acceptable way for all players to make deposits. If you're ready, we certainly are, and with that, lets get cracking!
Making a deposit at a USA online sportsbook is a requirement to start wagering. You might wonder why a site cannot just conduct transactions via your bank account, but there are reasons for this. Sports betting laws like the Unlawful Internet Gambling Enforcement Act (UIGEA) restricts sites from transferring funds directly to a credit card. This only means that you will not be able to make transactions straight from your bank, instead you will deposit money into your sportsbook account in order to wager.
Deposits can be made on most sites with a credit card because you are not placing a bet with the money you deposit; instead, you are buying “chips” or “points”, which you can do with as you please. This gets around the UIGEA so that USA players can use sports betting sites legally. Most sports betting sites are located outside of the U.S., and they offer numerous deposit methods. This is because occasionally credit cards will get declined for overseas transactions. We will learn more about the various deposit methods further down the page.
Picking a safe and trusted sportsbook is of prime importance. You want to make sure the site has a reputation for great service and fast deposits. After signing up at a site and exploring the sportsbook, the next thing to do is make an initial deposit. These sites make it easy and fast to fund your account. Just navigate to the online cashier, and you will see a list of the available deposit methods. Once you've located the deposit method that works for what you want to do, simply select it, fill in the necessary information, and the amount you would like to deposit. If everything is in order, users should receive confirmation that either funds have been added, or that their deposit is being processed.
It's all pretty straight forward, but if you need more help, look below to view information about how the different types of deposit methods work. Besides gaining access to be able to use the different deposit options, users should be aware of things like deposit times, any fees that may apply, plus the minimum and maximum transfer limits, as each could be the determining factor on whether it is going to be right for you.
Most sites offer a myriad of deposit options, each one varying in speed, minimums, maximums, and fees. All of the sites that we review utilize powerful security software and encryption protocols to ensure transactions are safe. They also make sure to offer the fastest deposit options in the game, some taking less than a minute to credit your account. Let’s take a look at the deposit methods that are available.
Credit/Debit/Bank Card: This is the most popular deposit method that all sites offer. Similar to making a purchase any major online retailer, you just enter your card information and the amount you would like to deposit, and your account will be credited instantly. Occasionally credit/debit cards can get declined because of overseas transaction restrictions. If this is the case, feel free to try a few other cards until one works, or check out any of the other deposit methods.
Wire Transfer: Cash wire transfer services such as Western Union, and MoneyGram are another popular way to make deposits. Just go to your local wire transfer facility to purchase one, and send the amount you would like to deposit to the site. You can call most online sportsbooks with the confirmation number of the cash transfer, and they will credit your account within 48 hours.
Money Order by Mail: You can send a money order directly to the sportsbook as a deposit method. This is a simple and fast way to add funds to your account, and a great alternative to credit/debit cards. Money orders usually take a week or two to arrive, and the sportsbook will credit your account as soon as they receive it.
Direct Bank Transfer: You can add money to your account directly from your checking or savings with a bank wire transfer. These take 1-3 days to process, and are great for large deposits. This option does require a few extra steps to get setup, but many claim it is well worth it for the convenience provided.
Prepaid Card: Working in much the same way as credit and debit cards, a prepaid cash gift card is another viable solution for sports betting deposits, especially if you do not like putting your personal card numbers out on the internet. You will fill out the card information at the online cashier, and choose the amount you would like to deposit. This is another quick and efficient way to add money to your account.
Bitcoin: Most online sportsbooks allow Bitcoin users to transfer funds to their account much the same way they would pay for something using PayPal, or other e-wallets. This relatively new deposit method is fast, and many Bitcoin members use it exclusively. The deposit usually takes a few minutes, and you can deposit almost any amount with Bitcoin.
Cashier's Check: You can send a good old-fashioned check through the mail to deposit in to your account. These take about as long as money orders, and are another great alternative to credit/debit deposits. Be sure to check with the sportsbook because they may only accept verified cashier's checks from your bank...personal checks may not be accepted depending on the sports betting site.
These top-tier online sportsbooks do everything in their power to make deposit transactions as fast as possible. Some methods can take weeks, while others only take a few minutes, and this can definitely have a big impact upon which method you select. For that reason, we've made a list of US sports betting deposit options and average time it takes for money to be credited to players' accounts when using those methods.
Credit/Debit/Bank Card: This is one of the fastest deposit methods, taking only a few minutes to process after filling out the deposit form. As long as the credit/debit transfer goes through, you should see the cash appear in your account almost instantaneously.
Wire Transfer: Cash Transfers are very fast, usually taking less than two days. Some sites allow you to call or fax the confirmation number of a cash wire transfer, wherein the site will credit your account within 15 minutes.
Money Order: While very reliable, money order sportsbook deposits usually take less than two weeks to arrive at the sportsbook. This is not the fastest method, but it’s a great alternative to cards if you don’t mind waiting a bit.
Prepaid Card: Similar to credit/debit card deposits, prepaid cards usually process within minutes. Just fill in the relevant information for making a deposit, and you should see your account credited almost instantaneously.
Bitcoin: This is one of the fastest deposit methods, usually taking only minutes. Occasionally Bitcoin deposits can take up to two days to transfer, but this is rare.
Cashier's Check: Similar to money orders, checks can take around two weeks. Once the site receives the check, they will deposit it into their bank account. Once deposited, the funds will have to clear before the sportsbook will add the funds to your account.
One unfortunate side effect of overseas transactions is that there are going to be fees. This helps cover the cost of international exchange, and assures speedy delivery. Each deposit method will have a fee corresponding to the speed of delivery, and all the best sportsbooks do their best to keep them as low as possible.
Credit/Debit/Bank Card: Fees range from 4.2% to 6.2% for credit/debit card deposits. This is directly correlated to international transfer costs, and is not very much considering the usual rates for overseas purchases.
Wire Transfer: Fees for cash transfers range from $12 to $26, depending on the site and the amount deposited. The fees make cash transfers and attractive method for large deposits.
Money Order: Money order fees range from $10 to $50, and correspond to the amount deposited. You will also have to pay the small fee for purchasing the money order. This is a great method for large deposits.
Prepaid Card: Prepaid/Gifts cards usually do not have associated fees. This is an excellent deposit method for any amount.
Bitcoin: Though sportsbooks generally do not charge fees for Bitcoin deposits, be aware that exchange rates do apply. Since Bitcoin is considered its own form of currency, this amount will vary.
Cashier's Check: Online sportsbooks usually don’t charge for checks. The shipping cost will apply, but some sites will even cover that if you deposit a large amount.
Almost every deposit method will have a minimum/maximum amount that you can deposit. This is because international exchange laws limit the amount of funds that can be sent overseas. The minimums are in place to make sure the cost of accepting the funds is covered, and sites do their best to keep these as low as possible.
Credit/Debit/Bank Card: Minimums for credit cards are usually around $50, and maximums go as high as $3,500. This is a great method for small-to-medium size deposits.
Wire Transfer: The minimums for cash transfers usually hover around the $100 range. Maximums can be as high $900. The limits combined with the fees make this method great for large deposits.
Money Order: Money orders are only for large deposits. The minimum will be around $300, while the maximum hovers around $9,000 for most sites.
Prepaid Card: Prepaid and gift cards have $25-$50 minimums, and there is no set maximum. This is a great method for deposits of all sizes.
Bitcoin: This option has a minimum of $20 on most sites, and the maximum will be around $9,000. This variance combined with no fees makes this a great deposit option for any amount.
Cashier's Checks: Checks have high minimums, around $1,000, with maximums up to $25,000. This method is only preferable for large deposits.
Bonuses at US Sportsbooks | US Sportsbooks Payouts | Mobile Sports Betting Apps
As you can see, there are many methods for adding money to your sports betting account. We have seen how the laws allow online sportsbooks in the USA to accept deposits from residents, and how these sites implement top-of-the-line security measures to keep all transactions safe. You have learned about the pluses and minuses of each deposit method, and by now probably know which one you will use to take that first step towards wagering. Now, let’s take a look at a sportsbook that offers excellent deposit options for the USA sports fan.
BetOnline is a premier online sportsbook that accepts U.S. residents. This site offers more deposit methods than most of the competition, including: credit cards, cash wires, money orders, bitcoin, bank wire transfers, checks, and more. The reason this USA sports betting site can utilize so many great deposit methods is because it has been around since the early 90’s, and has gained a reputation of excellence. BetOnline is our top pick for an online sportsbook with the best deposit options.
Signing up at BetOnline today will grant you access to a first deposit bonus. When you make a qualifying deposit at BetOnline, they will add an extra 25% to your account. Than can earn you up to $1,000 is bonus cash for betting on all your favorite sports. BetOnline has more deposit options than most sites, and they also offer this amazing bonus, making them stand out among the competition. We highly recommend checking out BetOnline today, while this promotion lasts.
The top-tier sportsbooks that we love to use are safe and reputable. These sites carry prestigious gaming licenses, and certificates of good standing from premier gaming authorities. These USA sportsbooks continually get praise from the likes of ESPN, FOX Sports, CNBC, and many other American media giants. You will discover that millions of U.S. residents make deposits at these sites every day, and are not in fear of having their money jeopardized.
For safe transactions, these sites utilize powerful, up-to-date security software and encryption techniques. Online sportsbooks earn their keep by taking care of their customers. If members were losing money because of faulty security, these sites would quickly shut down. You can be sure that conducting transactions at these USA sports betting sites will be as safe as doing so at any major web-based retailer.