Sportsbook Deposit Methods For US Players
Navigating sportsbook deposit methods can be a little tricky for sports bettors in the United States. There are special considerations that have to be made in terms of legality and safety. While players in other countries may be able to use a wide range of eWallets, credit cards, and money transfer services, U.S. bettors have about half as many available deposit options. This is mostly in part to the UIGEA, a federal law that prevents U.S. financial institutions from processing online gaming transactions. Even with the limitations, online cashiers are able to provide legal sportsbook deposit methods to meet the needs of USA sports bettors.
Rest assured that there are plenty of legal deposit methods at online sportsbooks. Sports betting operators offer convenient options to fit the needs of every bankroll. There are methods for those looking for the fastest deposits, and options for players that are big spenders. We will give you a list of the sportsbook deposit methods that you can expect to find at legal online sports betting sites, along with a look into how each option works. The team here at LegalSportsBetting.com knows how important it is to make depositing easy and we hope you learn a thing or two from this article.
How To Make Sportsbook Deposits
Obviously, the first thing you need to do is to do is sign up at one of the legal sports betting sites that we list. Make sure to check out several and pick the one that accepts the deposit method that you will be using. For instance, if you are using Bitcoins to deposit then you have to make sure that sportsbook is accepting that method. After that, just go to the cashier and the casino will walk you through the next steps.
If you are using a credit card, you will have to send them some personal information to help varify your account. This will include things like a copy of the credit card, a drivers license, a light bill, and a few other things. After you send them this stuff then you will be good to go and ready to deposit and withdrawal.
The other sportsbook deposit methods like person to person transfer or Bitcoin are a little more complicated. For instance, in order to deposit with Bitcoin, you have to get a address to send it to from the sportsbook. However, no matter which method you pick, the sportsbook will always be willing to guide you through it.
Fastest Sportsbook Deposit Methods
When betting on sports online, most bettors want to use the fastest sportsbook deposit methods to start wagering as soon as possible. Online sportsbooks recognize this demand and provide sports bettors with a wide range of secure and speedy deposit options. Each of the deposit methods will vary in terms of minimum and maximum funding limits, but the one commonality is that all of the options are fast. Most deposits will not carry fees but this is dependent upon the particular sportsbook. For instant online sportsbook deposits, we suggest using bitcoin, credit cards, or prepaid gift cards.
Bitcoin – Best New Sportsbook Deposit Method
Bitcoin is a digital currency that has become synonymous with legal sportsbook deposit methods. It is one of the fastest deposit methods with funds reaching your account within minutes. BTC deposits are 100% guaranteed to be processed being that there is no central bank to prevent your payment from being processed. You can also send funds without having to provide any bank account or credit card information, just transfer funds from your BTC wallet. The average deposit minimum is $20 while you will see maximums that go up to about $25,000.
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, 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 bettors to place huge sums on their wagers, but getting the cash onto your account is the first step. When you’re betting $5,000 or more on a single bet, you need to have a large bankroll readily available. The best legal sportsbook deposit methods for high stakes bettors are those where large sums can be transferred without having to make multiple transactions. For that reason, we recommend that high rollers use bank wire transfers.
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.
Why Was My Credit Card Deposit Declined?
The reason that your credit card was declined is most likely because your bank denied the transaction. Some banks will not authorize transactions related to online sports betting due to the UIGEA. That is why online sportsbooks work with several different payment processors in order to improve the success rate of your credit card deposit. Even if your card does not work on the first attempt, it will often be processed if you try again at a later time or call customer service to speak with a payment specialist.
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. For example, checks, person to person, and bitcoin are available as both deposit and withdrawal methods at most online sportsbooks. Money orders and credit cards are deposit options but are not typically 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 a payout is processed. You typically will be required to provide the following documents via email or fax:
A copy of a photo ID
Front and back copies of any CC that have used to fund your account
Copy of a utility bill or banking statement to confirm your address
What Withdrawal Methods Are Offered?
When it comes time to request a payout, you will find that there are numerous options to choose from. Many sportsbook deposit methods are also available as withdrawals, such as bitcoin, bank wire transfers, and checks. 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, which stands for the Unlawful Internet Gambling Enforcement Act of 2006, is a federal law that can make it more difficult for sportsbook deposits to be processed. The law requires banks to monitor certain payment systems, such as credit cards and bank wires, for online gaming activity. The financial institutions are required to restrict these transactions, which is why you may have to try a deposit method several times before it is processed. The UIGEA does not make online sports betting illegal by any means, and there are numerous legal deposit methods that US players can use.