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If you are a sports bettor, you understand that one of the most frustrating things about online sportsbooks is when you can’t get a successful deposit to go through. A decade ago, this was a big problem with many sportsbooks.
Today, sportsbooks offer dozens of different betting deposit methods. Each of these methods offers a unique way for you to get funds into your online betting account. We are going to take a look at many of these betting deposit methods and examine which of these are the best and easiest to use.
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Let’s first take a look at the most popular forms of deposit methods found at sportsbooks today.
Most Popular Betting Deposit Methods
Sometimes you glance at a list of deposit methods and become overwhelmed by all the options. What are all of these? Which is best? Which is easiest? All you want to do is get your money into your sportsbook account. These methods below are probably the ones you should look to first.
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Credit Cards - this is probably the easiest and fastest deposit option. You plug in your credit card number, expiration date and security code, and you can transfer your money instantly. In previous years, the credit card companies may have flagged online activity as suspicious behavior. Now credit card acceptance rates are higher than ever.
e-Checks - this form of deposit is easy as well. There is a very low (to none) failure rate on these transactions. The downside of e-Checks is that the money is not instantly removed from your bank account.
Money Orders and Wire Transfers - these types of banking payments are very secure. They can often carry the highest limits that you can deposit. The downside of these is sometimes the transfer is not instant. It may take a few days to process these types of deposits.
Nearly every sportsbook across the world will offer at least one of these forms of deposit method. As we stated above, they all have their advantages and disadvantages to using them. Let’s now take a look at some more obscure forms of betting deposit options.
Secondary List of Betting Deposit Options
We took a look at the common types of sports betting deposit methods. Now let's look at some of the not so common or newer methods.
Bitcoin - this form of deposit is not available at many sportsbooks, but it’s gaining ground. Bitcoin is a newer form of payment that is growing each and every year. If you own bitcoins, you can use those to deposit into select sportsbooks. There are some sportsbooks that specialize in bitcoin transactions only.
eWallets - this type of payment is extremely safe. But when you use an eWallet you need to have another account. You need to get your funds into that account and then do a transfer from your eWallet account into the sports betting account. Below are a few types of eWallet accounts you can setup and use.
- Click2Pay
- Skrill
- Paypal (VERY few sportsbooks accept Paypal if any)
- Neteller
Player to Player Transfer - this is a great deposit method option if you have friends playing at the same sportsbook. Not many sportsbooks offer this form of payment, but some do. All this does is let one player transfer their betting funds to another player’s account.
There are dozens more eWallet types and miscellaneous types of deposit methods. But we have touched on the main ones. Once you choose a sportsbook to bet with, take a look at their deposit methods right away to ensure there is one that suits you.
Now let’s look at a few tips on how you can narrow down which deposit method type is best for you.
Tips for Choosing the Best and Easiest Deposit Options for Betting
Determining which type of deposit method you should use can be challenging. Many times you have no idea what each of the types is or which ones you are even allowed to use. Here are three tips to keep in mind while making your deposit method selection:
Check the fees - each deposit method comes with its own set of fees. Be sure to check how much the sportsbook is going to charge you when using each deposit method. You may also experience bank or credit card fees on the other end for certain types of payments. Keep those fees in mind.
See if it’s legal in your country - some types of deposit are not legal in certain parts of the country. Do some background checking on the type you are considering to make sure you can use that method in your country.
Instant or not - if you want your sports betting account funded right away, make sure the method you choose is instant. If you aren’t worried about getting your account funded for a few days, you can select one that has a wait time. Just keep in mind whether each type is instant or not.
Limits - each deposit method type has certain limits as well. If you want to deposit high limits, ensure your desired amount falls within the limits of the method you choose. Each typically comes with a minimum and maximum deposit amount.
Knowing and understanding sports betting deposit methods is very important. If you don’t, you are going to make an uneducated decision as to which method to use. Making a bad decision could end up costing you fees and getting your transaction denied.
Take some time to understand each and every method offered at the sportsbook you are betting with. Know the limits, fees, processing time and restrictions on each one. Good luck with your betting and better luck getting your account funded!