Last updated on: May 10th, 2022
Sportsbook Deposit Methods For US Players
Understanding sportsbook deposit methods is easier now than ever. The options are similar whether using a sportsbook app or an online sportsbook. Using crypto to deposit into a sportsbook is king because of its speed and anonymity. Also, it is free of fees.
But, crypto is only one method for sportsbook depositing. The use of funding a sportsbook with a credit or debit card is also popular. Add in PayPal, bank wire transfers and money orders and the ways of funding a sportsbook account add up.
These options all come with their own minimums and maximums as well as transfer times and fees. Find all this information about sportsbook deposits throughout this page. We visited every cashier page on legal sports betting sites. So before joining to begin betting, learn about your sportsbooks deposit choices first.
How To Make Sportsbook Deposits
The method to make sportsbook deposits is dependent on the type of sportsbook you are signing up for. State-regulated sportsbooks accept cash, credit cards, and a few other methods. Some sportsbooks demand bettors to sign up in person (and some even say to deposit in person). Meanwhile, online sportsbooks accept cryptocurrencies, credit cards, and other options as well. They also allow for remote registration no matter the bettor’s state.
The first thing step before depositing though is signing up. If you are unsure, check out one of the trusted sportsbooks that we list below. Each have their own sportsbook deposit method, so look for the one that has the method you will be using. Every sportsbook has a page which details the options, minimums, maximums, and fees. We have brought this information to you though.
Betting fans will not struggle to find a deposit method at Bovada because the online sportsbook hosts so many sportsbook deposit options for all users. Whether you want to wager using debit and credit cards, cryptocurrencies like Bitcoin, or use third-parties like PayPal or Zelle, Bovada allows you to do it. Bovada also provides sports betting bonuses for certain deposit methods, such as the $750 Crypto Bonus for Bitcoin users. This bonus is for first-time users who sign on using Bitcoin.
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|6||50% Up To $1,000 Read Review||Visit SportsBetting!|
Fastest Sportsbook Deposit Methods
There are a wide array of deposit methods available for sports bettors. These vary in processing time so it is important for sports bettors to know what method takes what length. If you are looking to wager on your favorite sports team, and are looking to get in on the action right now, it would be painful if your deposit method has a 3-7 business processing time. The fastest method to deposit will have your money in your betting wallet within 24 hours. The fastest methods for sportsbook payouts and deposits are the same in that they use cryptocurrencies. They tend to process almost instantly while bank checks and wire transfers can take days. It is good practice to learn the fastest 2022 sportsbook deposit methods when betting at online sportsbooks.
How To To Deposit Bitcoin Into An Online Sportsbook
Bitcoin sportsbook deposits frequently offer the best promotions, are very fast, and set up users for the easies withdrawal in the long run. Learning about cryptocurrencies, and Bitcoin in particular, can be exhausting which is why we have simplified the process into four steps to deposit bitcoin into an online sportsbook.
Steps To Use Bitcoin To Deposit Into A Sportsbook
- Set up a Bitcoin wallet: This is where the Bitcoin is stored.
- Set up an exchange account: This is where Bitcoin (and other cryptocurrencies) are bought. Transfer Bitcoin to wallet.
- Copy the receiving address: Go to the sportsbook that is being funded and choose Bitcoin under deposit methods. Copy that address and head back to the Bitcoin wallet set up in step 1.
- Sending Bitcoin to a sportsbook: Once in the Bitcoin wallet, click “send”. Paste the Bitcoin address and enter the amount to deposit. Once confirmed, your balance should update quickly.
Using Bitcoin as a deposit method can be intimidating, but it is worth it in the long run. Using an exchange like Coinbase can be an easy help for first timers.
Bonuses of Depositing With Bitcoin
Sportsbooks rarely attach fees to Bitcoin deposits or withdrawals, no personal information is required while depositing (i.e. credit card info), and Bitcoin deposits come with low minimums and high maximums. The average Bitcoin deposit is $20, with maximums that start at $5,000 (often upwards of $500,000). With no central bank to prevent payments from being processed, Bitcoin deposits are guaranteed to get processed. Sportsbooks based in the United States have been slow to hop on the Bitcoin train, but using Bitcoin at an online sportsbook is the way to go.
Additional Cryptocurrencies Accepted At Legal Sportsbooks
Cryptocurrencies have become the most popular legal sports betting transaction method. While Bitcoin is by far the most well-known, other coin are also accepted by legal sportsbooks. The most popular alternative cryptocurrencies accepted by online sports betting platforms include:
- ApeCoin (APE)
- Avalanche (AVAX)
- Bitcoin Cash (BCH)
- Binance Coin (BNB)
- Cardano (ADA)
- Chainlink (LINK)
- Dogecoin (DOGE)
- Ethereum (ETH)
- Litecoin (LTC)
- Polygon (MATIC)
- Ripple (XRP)
- Solana (SOL)
- Stellar (XLM)
- Tether (USDT)
- USDCoin (USDC)
Credit Cards Deposits – Visa, MasterCard, American Express
Credit cards are by far the most commonly used method for making online sportsbook deposits. Cashiers will accept Visa, MasterCard, and occasionally American Express. Credit card deposits are instant and incredibly convenient. Your card issuer may charge an “international purchase” fee if you use an overseas-based betting site, and your sportsbook may also have a small processing fee. Credit cards do not have high limits, with the average minimum being $20 and the maximum being $5,000. If using American Express, you can expect the maximum to be lower.
Using Prepaid Cards To Deposit Into Online Sportsbooks
Prepaid cards are one of the more popular sportsbook deposit methods because they are similar to credit cards, but more reliable. Prepaid deposits are also applied instantly to your account. Prepaid cards are not tied to your personal bank account, which means you are not providing any sensitive information and there is no risk of your bank declining the transaction. When purchasing prepaid cards, make sure that the card is good for international purchases. The most commonly used prepaid cards are Vanilla Visa and Green Dot.
Best Sportsbook Deposit Method For High Rollers
High roller sportsbooks allow you to place greater action on bets than the normal bettor. But getting the cash into the sportsbook is the first step. When you’re betting $5,000 or more on a single bet, you need to have a large bankroll available. The best deposit method for high stakes is one with large or no maximums. For that reason, we recommend that high rollers use bank wire transfers or Bitcoin.
Bank Wire Transfers To The Sportsbooks
Of all the available sportsbook deposit methods, bank wire transfers are most preferred by high roller sports bettors. A wire transfer is where you transfer money directly from your bank account to the bank account of the online sportsbook. Bank wires allow bettors to send large amounts of money entirely online. This is the only method that has no deposit maximum, making it ideal for those that have a big bankroll. Bank wires can take an average of 1-3 business days to be applied to your account, though it relies heavily on how fast your bank sends the funds. Your bank will also charge a fee to initiate the transfer.
Person to Person Sportsbook Deposits
Person to Person methods are money transfer systems that allow bettors to send cash both domestically and internationally. Some person to person options include MoneyGram, Western Union, and RIA. The process can be completed at a retail location or online for added convenience. There will be a small fee charged by the service provider, but most online sportsbooks will cover your fees if you deposit a certain amount.
Sending Cashiers Checks To Online Sportsbooks
Checks are the most tried and true of all legal sportsbook deposit methods. Rather than sending money electronically, you can mail in a cashier’s check to an address provided by the online cashier. Checks have higher limits than other methods, typically ranging from $1,000 to $24,000 max. Depending on the mail carrier, it can take as little as 4 business days for the cashier to apply the check to your account.
DirectPay Sportsbook Deposits
DirectPay is a new sportsbook deposit option focused on transfers exclusive to sportsbooks. There are three ways to complete a bank transfer – bank wire, electronic transfer, or cash/counter. You can send up to $9,500 to your online sportsbook with DirectPay depending on the method. While some like the convenience, others would rather visit a bank and deposit cash with a teller.
Using Skrill, Neteller, PayPal, Or PayNearMe To Make Sportsbook Deposits
Use Skrill, Neteller, PayPal or PayNearMe in states with regulated sportsbooks. These are digital wallets where you can keep your money to make online transactions. PayPal is the most popular option, with millions of US residents using it. Being able to fund your online sportsbook account with PayPal is rather convenient.
PayNearMe is a bit different from most of the deposit methods that we cover. This method is exclusive to certain states with online betting sites of their own. Retail shops such as 7-Eleven partner with them, allowing deposits at their location. For example, get gas and refill your sportsbook account at the same time. Present your PaySlip barcode and cash to the clerk inside of the store.
How To Use Zelle To Fund A Sportsbook
Using Zelle to fund either an offshore or stateside sportsbook is very quick and easy. The first step is to research if your bank is one of the many that offer Zelle. Then you set up your account and should link your Zelle account to either your phone number or email. Then you select Zelle as your deposit method and use either that phone number or email to link the account. Once linked to your Zelle sportsbook, it is essentially a bank wire transfer service.
Why Was My Credit Card Deposit Declined?
Credit cards get declined at online sportsbooks generally from the bank. Some banks will not allow transactions related to online sports betting due to the UIGEA. That is why online sportsbooks have several deposit methods. If your card does not work on the first attempt, look for a message from your bank. After the first approval, try again. Most times it will work, otherwise try another card.
Does my payout come back using the same deposit method I made?
When possible, your payout will come back using the same method that you used to make a deposit. Checks and Bitcoin are available as both deposit and withdrawal methods. Money orders and credit cards are deposit options but are not payout options. In these instances, you can speak with customer service to discuss alternative options.
If I deposit through CC, what documents do you need to request a payout?
If you deposit with a credit card you will need to verify your identity before processing a payout. Show a few requested documents to the sportsbook and you’re on your way. Usually, a picture of a photo ID (front and back) and a utility bill to confirm your address do the trick.
What Withdrawal Methods Are Offered?
When it comes time to request a sportsbook payout, you will find that there are many options to choose from. Many sportsbook deposit methods are withdrawal methods (Bitcoin, checks and bank wire transfers). You can also get your winnings via a person to person method such as MoneyGram, Western Union, or RIA.
How Does The UIGEA Impact Sportsbook Deposits?
The UIGEA a federal law that can make it more difficult to process sportsbook deposits. The law requires banks to monitor payment methods for online gaming activity. Somewhat outdated, UIGEA can restrict these transactions. This is why you may have to try a deposit method several times before it works. The UIGEA does not make online sports betting illegal, as the focus is on the bank.
Are there any promotional bonuses that can be added to my initial bankroll deposits?
Yes. Promotional bonuses vary by sportsbook but are a great way for new users to get extra cash to begin betting. Redeem a bonus by using a sportsbook deposit code or promo offer while making a deposit. When searching for the best promotional bonuses to use, it’s best to look at a few online sportsbooks. Find the sportsbook bonus best for you in relation to your sportsbook deposit method.