US Sports Betting Site Deposits
Have you ever been to Las Vegas? Have you wanted to? What if we told you that you can get the same Sin City experience without the expense of traveling there? This can be a reality if you use one of the great online sportsbooks that accept U.S. players. These sports betting sites are about the most fun you can have without leaving home. You can wager on anything online that you can at a sportsbook in Las Vegas. But before the thrill of wagering and winning can begin, users will need to fund their accounts to get started. Because of regulation, helping to safeguard the industry, many USA sports betting sites are not always able to accept deposits directly from your credit or debit cards. So, how do we get around this?
This guide to sportsbook deposits will walk readers through everything they need to know about funding their sports betting accounts including what to do when credit/debit card deposits fail. Fact is, even if a credit card doesn't work for a direct deposit into a sportsbook, users may still be able to add funds with their cards through trusted 3rd party payment systems. We'll learn all about that, why these are needed, and before you know it, we'll have you up and betting on your preferred sports betting site in no time flat.
There are some laws that online sportsbooks must circumvent when it comes to accepting electronic payments from U.S. residents. The primary federal sports betting law affecting deposits is know as the Unlawful Internet Gambling Enforcement Act of 2006, herein called the UIGEA. This law mandates that American banks are not allowed to knowingly transfer funds electronically to offshore betting sites. This means that any bank-backed credit or debit card is not allowed to be used to fund sports betting accounts...as long as the bank catches the transaction.
Fact of the matter is that USA accepted sports betting sites frequently change payment processors in order to stay a few steps ahead of the banks. By doing this, many Americans are able to use their cards freely, or at the very least, they are able to use U.S. credit/bank cards to send funds through an intermediary like an e-wallet. As you will learn if you keep reading this page, there are multiple ways to fund a sports betting account that work despite stipulations set forth by the UIGEA even if those methods aren't electronic.
Learn More: Is It legal To Bet Online Sports?
There are many options for depositing to your account. Credit cards are the most common but there may be restrictions on international transactions. You may want to check with your card provider to see if your card has such restrictions. You can also make deposits using Western Union or MoneyGram, bank wire transfers, money orders, checks, and even Bitcoins. Each method will have different speeds, limits, and fees associated with them so it’s good to check the site of your choice for all of the pertinent information. The fees exist because it is expensive to send money overseas. In some cases, the site may waive or refund the fees if you deposit a certain amount.
Depositing with a credit or debit card is very simple. If you have used a credit card to purchase anything online in the past, this method should be familiar to you. You just enter your credit card information and pick the amount you would like to deposit and you are set. If your card is declined, you can try another option or another card. You can also possibly wait a few minutes and try again. Cards that are most successful are capable of international transactions and able to make purchases from the internet.
Deposit Fees: The fees vary by site, but we personally have not seen any higher than 6.2%, however it is also important to note that there are some online sportsbooks that don’t charge fees.
Deposit Times: Credit card deposits process within seconds. Occasionally they can take longer, but you should see your funds appear almost instantaneously.
Deposit Limits: This varies from site to site. Some have a minimum of $50 and a maximum of $500 while others might have a limit of up to $3,500. Check your favorite site for details.
Cash wire transfer deposits are performed through well-known, name-brand services like Western Union and MoneyGram. When using these, users can make a deposit online through whichever service they choose. They don’t actually have to go to a physical location to make the transfer, however visiting a local brick and mortar retailer is always an option as both brands are found at thousands of retail outlets across the United States. Users can go to any wiring station and send a deposit, but with new technology, it is much more convenient to do this all online. But if you want to fund your account using cash, going to the physical wiring station is the only course of action.
Deposit Time: One of the fastest deposit methods outside of credit and debit cards, users funding their accounts with an online wire transfer will be ready to go in less than 45 minutes in most cases. If you must go to the physical location, wait times might go as high as two hours, but that is still relatively fast.
Deposit Fees: Yes, there are fees associated with this method. These fees usually range from $9.95 to $11.95 but may be covered if you deposit a certain amount. On one of the sportsbooks we review, they will cover the fee on deposits of $250 or more. Check with your favorite site to see their fees.
Deposit Limits: There will be minimums and maximums when using this method. The minimums will start between $50 and $100 and the maximums will be in the $900 range.
When using a money order you will want to contact customer service or the help desk to get all of the information needed before purchasing the money order. You can send it in via FedEx and when it is received, the site will credit your account for the money order and the courier fees. There may be a minimum deposit amount to have your courier fees covered. Unfortunately, money orders cannot be sent online, as users will need to go to a retailer to purchase the money order and then send it to the sports betting site.
Deposit Time: It can take anywhere from a few days to 15 business days for your money order to reach its destination and then be credited to your account. Unfortunately this is one of the slower methods of deposit, but it is tried and true. Users can also help reduce the time it takes to credit by using a courier service instead of the regular postal service to physically send the money orders.
Deposit Fees: The only fees that you should incur are the courier fees to ship the money order, as well as the price of the money order itself...usually no more than $.99 depending on the purchasing location. Some sports betting sites will refund these fees automatically, while others may have a minimum deposit amount required in order to have any incurred fees returned to the user.
Deposit Limits: There are minimums associated with this method of funding your account. The minimums range between $100 and $300 and the maximums can be $9,000 however the maximum will likely be dictated by the maximum purchase amount of the money order...in most cases this limit is set right around $500 or $1,000.
A bank wire transfer is a very secure way to send money to your sports betting account. Essentially, you are just wiring the deposit from your bank account to the sportsbook's account in order to have it added to your personal sports betting account. This deposit method does take some work to setup so you will need to contact the cashier at the sports betting site to get their information. In some cases, online sportsbooks will require users to send an email requesting the transfer...check with your preferred sports betting site for more details.
Deposit Time: This method is very quick and your money should be available immediately once the site receives your transfer, however it can take between 1 to 3 days for funds to clear from your account to theirs.
Deposit Fees: Fees for funding sportsbook accounts with this method can vary greatly. Some sportsbooks have no fees for bank wires, while others have fees ranging from $25 to $60. Check the online cashier for the site you want to use to learn more about bank transfer fees and surcharges.
Deposit Limits: Bank wires are great for anyone that wants to deposit large amounts of money, as there typically is no maximum limit. On the flip side, the minimum amount for this type of transfer is generally at least $1,000 so it really should not be used by someone looking to dabble in sports betting.
Prepaid cards work essentially the same way any credit card would work. In fact, many prepaid cards are embossed with the logos of major credit card companies like Visa, MasterCard, and American Express. Simply enter the number on the card, the amount you wish to transfer, and then funds should be transferred without delay, as long as you're using one of the known working types of cards. Each brand of card can be slightly different from another, and that slight difference could be what keeps users to being able to deposit. Because of this it is recommended that users first check with their sportsbook's cashier to find out which brands currently work.
Deposit Time: With an Amazon card, your money will usually be available within 45 minutes of receiving your email. My Cash, Walmart, and other cards usually take about the same time. These are some of the fastest deposit methods.
Deposit Fees: In most cases, the only fee for using a prepaid/gift card would be the cost to purchase the card from a physical retailer. Typically the only prepaid cards that cost more than the pre-loaded amount are cards that can be reloaded multiple times.
Deposit Limits: There are different minimums and maximums depending on the card you use. Using an Amazon gift card the minimum is $50 and the Maximum is $200. With My Cash Card you can only send in $500 increments, and with a Walmart card there is a maximum of $1,000 per card.
Bitcoin is an online currency that is used to make online purchases, deposit into sports betting sites, and even get payouts from sportsbooks. Bitcoin itself is considered a form of currency, so exchange rates will apply when coverting a single Bitcoin to US dollars (USD). To use bitcoins you need to go and setup a bitcoin wallet on their site. Then you will need to purchase bitcoins. Once the bitcoins are in your wallet you can send them directly from your bitcoin wallet the site of your choice.
Deposit Time: Deposits using this method are generally available to be wagered within 1 to 2 hours of enacting the transaction.
Deposit Fees: There are typically no fees associated with using Bitcoins to fund sports betting accounts.
Deposit Limits: The minimums and maximums vary by site. As a general rule, many online sportsbooks mandate a minimum deposit of $100 and a maximum of $25,000, however others may have minimum deposit amounts set as low as $20.
The best method for funding your account is using a credit/debit card. This is the fastest and most efficient way to deposit. You will want to make sure that your card is available for international transactions or it may be declined. If you are not sure, just contact your bank and ask them if your card is set up for international use. If your card will not work, there are plenty of other methods available to you.
Safety is the number one priority of the US sports betting sites we review. They are constantly updating their software and security protocols to stay ahead of the bad guys. Many of these sites have been around for decades and our recommended legit sports betting sites do not have security issues associated with them. There are millions of members and millions of transactions going through these sites daily, so the record of accomplishment speaks for itself.
We hope that you now feel as though you know more about deposit methods available to you. We have covered the necessity of deposits and explained all of the safety protocols that are in place to help safeguard your personal information. You have seen how to make a deposit as well as several different methods you can use to add funds to your account. We have walked you through some of the fees and minimums and maximums associated with each of these methods. Now we would like to introduce you to our top pick for top sports betting siteserving U.S. members.
Our business is to review online sportsbooks. We have been doing it for years and we have some favorites. One of these all-stars is BetOnline. They have been in business for over two decades and continue to impress us more each time we play. BetOnline is the best when it comes to getting your money deposited safely and quickly. You can choose from several methods such as credit/debit cards, Western Union, MoneyGram, checks, bank wire transfers, and others. Go to the site to see which method fits you best.
There are other considerations when choosing a sportsbook to make your own. Do they have a mobile site? BetOnline has one of the best in the business. How about live in game wagering? They have that as well. BetOnline is obsessed with safety and it shows. In the years we have been reviewing these sites we have not heard of a single breach that compromised any player’s personal information. When you are ready to withdraw some of your winnings, BetOnline has some of the fastest payout options in the industry. Try them and let us know what you think.