Bank Wire Transfer Sports Betting Payouts
There are plenty of ways to electronically receive a payout from an online sportsbook. One of the fastest ways to get money out of betting sites is called a bank wire. A bank wire is different from a wire transfer, especially when it comes to how the payout is received from an online sportsbook. A bank wire can be a very reliable method to withdraw for players who play with higher than average funds. In other words, the big fish.
Bank wires are able to electronically wire funds from the sportsbook to the player, but not individually like a wire transfer. The difference with a bank wire is the fact that it is a batch process, which can cause a delay in time. What a bank wire might lack in time compared to other types of wire transfer, it can more than make up for in terms of the fees-to-dollar amount ratio and the total amount that can be taken out of a player’s account.
Can U.S. Players Use Bank Wires As A Method To Receive Payouts?
A bank wire is often available to American players to use at legal online sportsbooks. Not all sportsbooks will have a bank wire payout option available to be selected though. The ones that do however can be had by USA players that are interested. There will be requirements that need to be met, but if those are sufficed, things are good to go.
Sports Betting Sites That Payout With Bank Account Transfers
Bank wires are quite popular among sports betting sites accepting American players, so chances are if you are signed up with one of them that will be on the table. This is not always the case though. Check out one of the sportsbooks with bank wire payouts below.
50% up to $1,000
Best Sportsbook For Bank Wire Payouts
BetOnline offers the fastest sportsbook payouts when using their bank wire withdrawal method. Players can request bank wire payouts of $500 to $25,000 per week, with payout speeds between three and five business days. That combination of speed and total withdrawal makes BetOnline the best sports betting site for fast bank wire payouts. BetOnline does charge a fee that is the greater of $45 or 3% on any bank wire withdrawal but given the sportsbook’s greatness and overall lack of bank wire sportsbooks, BetOnline is still the top option.
50% up to $1,000
High Withdrawal Limits When Using Bank Wires
If you are some who likes to play for several thousand dollars at a time, a bank wire withdrawal through SportsBetting’s online sportsbook is definitely the way to go. The minimum withdrawal amount for a bank wire is set down at $500 for Sports Betting account holders, but players can go all the way up to $10,000 per transaction if they want to.
Players here are able to the maximum amount once per week, with the information on the wire needed to be faxed or scanned to Sports Betting cashier information. The fees in comparison by percentage are small, going anywhere from $45 to $75. Get in on SportsBetting’s great sports odds now, and know that a bank wire awaits you should you need it.
Bank Wire Payouts – Frequently Asked Questions
What Is Required To Use A Bank Wire?
The first thing that is required to use a bank wire is the sufficient funds to do so. Anyone withdrawing over a couple of thousand dollars it is probably worth their while to use this method. Instructions on where to wire the money to will need to be faxed or emailed to the customer service department at the online sportsbook you are making the withdrawal from. The original request once approved takes about 24 hours to do.
How Long Do Bank Wires Takes To Receive?
Most of the best sports betting sites say that the bank wire will be received within 10 business days. This eight or nine days longer than a wire transfer, because like we said earlier it’s processed in batch form and not sent individually like a Western Union transfer.
Do Sportsbooks Charge A Fee For Bank Wires?
You can expect fees to come along with a bank wire, but bank wires certainly aren’t singled out. Most every payout method at all sportsbook will have a fee that comes with them. And relative to how much money you are able to withdraw with a bank wire, the fees are quite small.
What Are The Sportsbook Payout Limits For Bank Wires?
This will depend on which sportsbook you have an account with. For example SportsBetting.ag and BetOnline have a $10,000 limit, but many are right around this but some could be lower or higher. The listed fees will be on site with the bank wire payout information.
Pros And Cons Of Using Bank Wires For Sportsbook Payouts
- PRO: Very High Payout Potential – The bank wire will likely be the biggest withdrawal that can be made at a sportsbook, which is really nice for big players.
- PRO: Quick Payouts – Sure, it’s not as fast as a Western Union transfer, but it only takes up to 10 days to receive.
- PRO: Low Relative Fees – The fees will range, but if you are withdrawing $500 a $45 fee is gladly paid compared to percentages with other types of payouts.
- CON: High Minimums – With bank wires having high payouts, they are not for everyone. This should be limited to big players only.