Placing sports bets online has, thankfully, never been easier, and almost all sports books now offer players multiple ways of depositing and withdrawing at their site.
This is a stark contrast to that of – say, 5 or 6 years ago – when punters often had to jump through a number of hoops just to fund their account. Government regulation, hesitation from payment providers to work in the online gambling industry, amongst other problems lead to many popular payment options becoming unavailable, and this is particularly true for players in the USA.
Thankfully, today, it’s a little easier – and with the creation of cryptocurrencies like Bitcoin, it’s never been easier to deposit and withdraw from an online sports betting website.
On this page, we’re going to take a look at some of the most popular online sportsbook deposit methods that you can use to add funds to your account. The deposit options we list on this page, also have their own page, where we give you an in-depth look at how the payment method works, so be sure to check the individual pages out, if you’re looking for more information on any of the payment methods listed below.
Popular Online Sportsbook Deposit Methods
AMEX is short for American Express – one of the largest and most reputable Credit Card companies on the planet. While AMEX have had a seemingly love-hate relationship with online bookmakers, generally, you’ll find it offered at most reputable sportsbooks these days, thanks to AMEX loosening their policies about online gambling.
Bitcoin is one of the deposit options that punters may only recently have become accustomed to, and this is largely down to the fact that it simply hasn’t been around for too long. Created in 2009, Bitcoin is a decentralized cryptocurrency, meaning there are no banks, financial instructions, or other bodies involved – and transactions are, by default, anonymous. Bitcoin is favoured by online gamblers thanks to the speed at which deposits, and withdrawals can be made (instantly), and the fact that it commands a miniscule fee.
Another big-name Credit Card company, MasterCard are arguably the world’s biggest and best well-known financial institution, and their payment solutions power literally millions of businesses around the world. MasterCard have always taken a fairly lax view towards online gambling, and you’ll very rarely experience any problems while using a MasterCard to deposit at an online bookmaker. The only thing to be aware of, is that in most cases, withdrawals can’t be made back onto a MasterCard, so you’ll need to arrange a Bank Wire, or alternative payment method to use for cashing out.
Neteller is an online e-wallet, much like PayPal, and it has become a popular choice for those looking to easily deposit and withdraw funds into/out of online betting accounts. In fact, Neteller is – aside from Credit/Debit Cards – the most commonly-used betting deposit option, and it’s very, very rare for an online gambling website not to offer the e-wallet to players and punters.
PayPal are – like AMEX – a company who’ve had a fairly up-and-down relationship with online gambling companies, and for a long while, PayPal banned all online gambling transactions completely. Recent years have seen the gigantic e-wallet company loosen their stance, although they are extremely strict on which companies they allow to use their service. Because of this, it’s very rare to see PayPal accepted as a deposit or withdrawal option at online betting sites outside of the United Kingdom, but this may change in future.
Like MasterCard, Visa is a giant in the payment processing world, and they work in, and with over 200 countries, powering the technology behind most major Debit Cards. A new industry-compliance-drive feature called “3D Secure” is now offered by Visa too, and this minimizes the risk of fraudulent transactions being made, by requiring users to authenticate their payment, often by entering security details, or by receiving a text or phone call.
This technology has proved beneficial to punters wanting to make a betting deposit using Visa, as online betting sites have become far-more willing to accept it, and because of this, it’s very rare to NOT see Visa deposits/withdrawals available to reputable online sports books.
How to Check Your Sports Betting Deposit Options
The exact payment methods available to you will vary heavily, dependant on a number of factors, including the country you live in, the jurisdiction that regulates online gambling in your location, along with the actual gambling website you sign up with.
If you’re ever unsure about the options available to you, simply log into your account, if you’re already registered at an online bookmaker, and head to the “Cashier” section of the website. From here, you’ll be able to see a breakdown of all payment methods accepted.
If you’re not yet a member, and if you don’t want to sign up just to check the payment methods, then it’s worth pointing out that most online betting sites place small images of their accepted deposit and withdrawal methods in their website’s footer area. This can be found at the bottom of the main home page, and should give you a good indication of what’s available.
Remember, some payment methods command fees – particularly Credit Cards like MasterCard and AMEX – so in an ideal world, you’ll probably want to use either an E-wallet like PayPal or Neteller, or Bitcoin.
The bookmaker you bet at (or want to bet at) will display clear information about the fees if there are any, and if you’re ever in doubt, just get in touch with their support team who’ll be more than happy to help you out and answer any questions you may have.