Depositing Into Online Sportsbooks – Funding Accounts
Depositing into online sportsbooks is the first step in the process to receive a fast and hopefully large sportsbook payouts. Funding sportsbook accounts can also be very fast and easy, just like withdrawing can be. To learn more about the depositing process into sports betting sites and how it factors into the fastest sportsbook payouts continue reading below. Also included on this page are sportsbook funding options for US players at online sportsbooks and non-US players at those same sports betting sites.
Online Sportsbook Deposit Methods
The outlets through which online sports betting sites allow their players to deposit and fund their accounts are numerous but are largely unique in terms of what can be found at specific sports betting sites.
With each of the different deposit methods there are really two ways of determining which options are going to be the best choice based on what the user needs. One way to do this is to find a sportsbook that accepts the method the user wants to deposit with, but that will not always leave them with the best options when it comes to selecting a betting website. The other way to figure it all out is to dissect each of the methods accepted by the betting site the user prefers and then go obtain that method.
U.S. Versus Non-U.S. Methods
When discussing the funding methods that exist at online sports betting sites that are legal, there should be some distinguishing between who can deposit with what methods. Since there are no online sportsbooks that operate in the United States under federal law, the sites that accept American bettors are located offshore. But there are US friendly options that users are able to implement when funding their account to bet real-money.
At the same time, there are also non-U.S. deposit methods that exist at the different sites, because most every sportsbook will have international account holders as well. This is important to know going forward, as we break up the two into the different sub-categories of depositing.
U.S. Sportsbook Deposit Methods
Funding an online sportsbook account is easy for bettors in the U.S. For one, just being able to sign up that means they are accepted and allowed to bet which automatically means the sportsbook will have methods in which depositing can be done quickly. You’ll find that the funding options are rather common, and easy to use.
Credit, Debit, Prepaid/Gift Cards – We start with the credit card deposit option because it is the most commonly seen funding method at sportsbook around the world. With the popularity and ease of payment for credit card, bettors are able to make an online transaction similar to any one that they would have completed with a regular purchase online. The process is the exact same, with the same type of information required. The difference is that the bettor selects the amount to fund within the parameters of the site for using a credit card. Common credit cards include a Visa and American Express for U.S. players, while MasterCard is sometimes found but is usually an option for established accounts or VIPs.
Bitcoin And Other Cryptocurrency – Bitcoin and crypto have revolutionized the gaming world, and most of this is because of how easy they are to use and how quickly they can get into and out of online sportsbooks. Additionally, they allow you to get money overseas with the greatest of ease. Online sportsbooks love bitcoin so much that they incentivize you to deposit with bitcoin by offering bigger bonuses for doing so.
Western Union Transfers – Categorizing in general as a type of wire transfer, a Western Union transfers can send money electronically to the sportsbook to then fund the account. This can take about 30 minutes for the process to be complete. Fees can come along with the transfer, but most sportsbooks will cover them if a deposit is over a certain amount.
MoneyGram Transfers – Another type of electronic wire transfer, a MoneyGram is commonly seen and a quick way to deposit funds into an account. MoneyGram will have similar limits to Western Union transfers, and take roughly the same amount of time to complete as well.
Money Orders/Cashier’s Checks – Another great way to deposit is through a cashier’s check or a money order. This method is commonly found at sportsbooks that take USA players simply because those outside of the U.S. have better options. Surprisingly, this option is not available at every sportsbook even if Americans are allowed to bet there. Deposit times are the longest but this method typically guarantees 100% success.
Vouchers + Other Prepaid Options – A voucher can be purchased from a designated site that a sportsbook is accepting off. The corresponding voucher number can then be input into the deposit section at the sportsbook to fund the account. This is a nice way for those who would prefer not to input any financial information at a sportsbook, though betting sites are very safe and secure.
Non-U.S.A. Sportsbook Account Funding Options
With bettors from locations outside of the United States, there are other methods that are available that cannot be used by American players. There can be several different types, which gives more options. It will be stipulated within a sports betting site which option are available to players from the United States and which are not. When creating an account the location of your account will be the primary determining factor in this.
Electronic Wallets (PayPal, Skrill, EcoCard, NETeller, Etc.) – Think of an e-wallet as a payment medium through which sportsbook deposits can be made without directly exchanging financial information with the online sportsbook where the funds will ultimately be used. These will require the user to sign up for another account but chances are that most users already have one with the most popular options used today. Unfortunately, e-wallets are afforded to international sports punters even at online sportsbooks where Americans are accepted.
Sportsbook Deposit Times
One of the important factors to consider when choosing either an online bookmaker or a funding method would be the amount of time it takes for deposits to be credited to user accounts. A general rule of thumb is that anything involving an electronic transaction will be credited within minutes if not seconds.
Knowing that, it would seem obvious that everyone would want to fund their online betting account using an instant method, but that’s not always possible. As an example, let’s look at Bovada’s deposit times.
|Time To Deposit
|Up to 48 Hours
|Up to 1 hour
|Up to 24 hours
|Up to 1 hour
|Up to 1 hour
|Up to 230 seconds
|Bitcoin SV (BSV)
|Up to 1 hour
As you can see, cryptocurrency is the fastest way to get your money into Bovada, with Ethereum taking the least time of all cryptocurrency methods. Other methods could take as long as 48 hours in order for you to get your money available on your Bovada account. This is true at other online sportsbooks as well – it’s important to keep an eye on what deposit methods are actually the fastest ones.