Sportsbook Banking Methods: A Complete Guide to Banking at Sportsbooks

Before you can place bets on your team, you have to find the best sportsbook deposit methods that work for US bettors. Funding your sportsbook account is an important part of the sports betting experience. US players will want to find a method that works for them. Unfortunately, US federal government’s gambling and banking regulations have made funding gambling accounts a bit complicated. But there are a few sportsbook deposit methods that US bettors can use without any complications. depositing money into bank sportsbook deposit methods

Our sportsbook deposit methods guide will help you, the US bettor, find the best betting method for you. We’ll take a look at some of the most popular banking methods US sportsbooks prefer. Moreover, we’ve zeroed in on betting methods that work so that you can access sportsbooks from all over the world.

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Top Sportsbook Deposit Methods

For those new to online sports betting, the variety of deposit methods available can be overwhelming. There are around 27 different sportsbook deposit methods around. While variety may mean convenience, we’ll be taking a look at those that cater to our American bettors.

Below we’ll be looking at some of the best and most widely used sports betting deposit methods. Usually, these include credit cards, e-wallets, and wire transfers. Alternatively, US bettors can also use e-checks, bank drafts, paper checks, and wire transfers. The last of these tends to be more popular with online sports bettors as much larger sums of cash can be transferred in one transaction. This makes it a favorite for those high-roller gamblers.

Sportsbook Deposit Methods

Here we’ll be looking at banking options.

  • Bank Wire Transfers: one of the more old-fashioned ways of banking, have the highest banking fees. This form of sportsbook deposit method requires you to visit the bank.
  • Bitcoin Deposits: a step into the future with bitcoin. The great thing about it is that US bettors can transfer their funds anonymously. Furthermore, you can use it to transfer large amounts of cash to your sportsbook account.
  • Credit Cards: this is the most convenient way of funding your online sportsbook account. Once you’ve found a site accepting your credit card – either Visa, MasterCard, or Amex – depositing money is simple. However, there are banking fees charged to the casino for processing the transaction. Do take note, using your credit card, especially for online sports betting, is prohibited under recent US regulations.
  • Prepaid Cards: these work the same as debit cards expect that you have to load the card with cash before you can use it. Prepaid cards are created by Visa and MasterCard. The great thing about them is that they protect your actual bank account. Think of it as a self-imposed bankroll that controls your spending.
  • MoneyGram Transfers: another favorite with US bettors, this one is for those who are using offshore services. With MoneyGram, your cash is sent directly to the sportsbook’s offices. Alternatively, your cash is sent directly to a credit card or checking account. To use this deposit betting method, US bettors will need to contact the site directly to get the name and city of the receiver.
  • Western Union: much like MoneyGram, also allows you to transfer money directly to a receiver. However, withdrawals need a check which is great for those who don’t want to use their credit card or debit card.

Read more on these banking methods:

eWallet Deposit Methods

Below are some of the best e-wallet sportsbook deposit methods options for US bettors.

  • Click2Pay: fund this betting deposit option with your credit card or a bank transfer.
  • EcoPayz: popular among European bettors, EcoPayz can be funded with a credit card or bank transfer.
  • InstaDebit: this e-wallet option is a favorite among Canadians. It accepts deposits via bank transfer, MasterCard, or Visa. Deposits are instant withdrawals from your bookie account take two business days.
  • Neteller: your debit or credit card account connects to this e-wallet service. Furthermore, it allows you to make deposits directly from either one of those accounts. Any withdrawals you make are deposited into your debit or credit card casino, depending on which one you used. Generally, US bettors won’t find Neteller on US run offshore online sportsbooks.
  • PayPal: you’ll only find this e-wallet service on a few European sites and regulated American sportsbooks. You can send money directly to your sportsbook account via your bank account or credit card.
  • Skrill (Moneybookers): generally European sites tend to have this deposit method. You can fund it either with a credit card, electronic check. While you can only make withdrawals via debit card or bank transfer.

online payment method

Sports Betting Banking FAQs

Let’s look at some of the most frequently asked questions relating to sportsbook deposit methods.

Is it legal and safe to deposit at an online sportsbook?

The short answer is yes. For players, the laws at the federal level doesn’t prevent you from making deposits and betting real money at sportsbooks. However, banks and sportsbooks are subject to federal laws which impacts on whether they can make accept transactions. This is why in some regions of the US it’s difficult to make a deposit.

In terms of safety, majority of sportsbooks are legitimate, especially our recommended sites. Most have worked hard to build their reputation based off quick payouts.

What is the best sports betting banking method?

This depends on what you’re looking for from a banking method. Considering the US regulations on processing payments for online gambling. Bettors from the US will need to use banking methods that avoid payment processing gateways. These would block your transactions.

In this case, Money Transfer services like Western Union and MoneyGram are the best options.

If you want anonymity, then Bitcoin is the way to go.

What can I use to withdraw my winnings from a sports betting site?

The perfect sportsbook betting method to use for withdrawals are check, Bitcoin, and money transfer services. However, if you’re a high roller or VIP bettor, we recommend arranging a bank wire transfer with the sportsbook.

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