Sports Betting Payment Methods

If we look back in the past, making a payment to an online sports betting website used to be a simple and worry free process. Things have changed now. Ever since the 2006 UIGEA bill was passed in the United States, it started to become more and more difficult for US residents to make a deposit. But the online sports betting websites are always one step ahead and they are adding new payment methods.

Due to the restriction when you are looking to make a deposit at an online sports betting website you need to make sure that you take into consideration your country. In the UK and the rest of the Europe there are much more payment methods available. In this short guide we are planning to offer you a good overview of some of the most popular payment methods that are available at this moment. Once you understand what the options available are, you will get to make an informed decision when you are making a deposit to your favorite online sports betting website.

Credit Cards

The number one thing that you should try the moment you are planning to make a deposit at an online sports betting website is your credit card. This is by far one of the easiest way you can deposit money and it’s fast (the transaction happen instantly) and the fees you have to pay are most of the time very low or covered by the online sports betting website. In case your credit card gets declined, you can start exploring the other payment methods that are presented below.

E-Wallet

The ewallet is yet another important payment method that you should take into consideration. This service will act as a third party between you and the online sportsbook. This means you have to first deposit money into your ewallet and after that make the payment towards the bookmaker. This payment method is fast since the transaction happen instantly and the fees you have to pay are rather small. Another benefit that you should take into account is that you no longer have to share sensitive personal information like your credit card information with the online gambling sites.

Bank Transfer

The bank transfer is yet another payment method that you could take into consideration. You basically need to have a bank account to do it and you will transfer the money over to the online sports betting account. This payment method is secured and it can be used for both deposits and withdrawals. While the bank transferred are not always the cheapest way to move the money, they represent an excellent payment methods for those bettors that are dealing with large sums of money. This way in case you need to transfer a few thousand dollars, you definitely stick to this payment method.

Check

The check is most of the time a payment method that is being used by online bookmakers for withdrawals. The check is sent out via courier or mail and once you receive it you can deposit at your bank. The benefit that you get from receiving a payment via check is the fact that it’s cheap, but at the same time you will need to make sure that you are patient enough and wait for the check to physically arrive to you before you can cash it out.

Money Transfer

The money transfer are usually one of the last resorts that players use in order to make a deposit or cash out their winnings. One of the reason why this is happening is because the fees involved into making such a payment are usually a little bit higher compared to all the other options that you have available out there. The two major providers are Western Union and Moneygram. These two can be found anywhere in the world and they are a fast way to move the money, but at the same time it’s quite expensive.

Prepaid Cards

A prepaid card works just like a normal credit card, except for the fact that it’s a debit card and needs to be loaded with funds before you start funding your online sports betting account. This payment method has started to become more and more popular thanks to the fact that they are able to offer you instant transactions and everything is safe and reliable and it is now considered to be one of the best way you can make a deposit at an online sportsbook.

Overall if you sign up for the right online sports betting website, you are going to have a good time making a deposit or cashing out your winnings. However you should make sure to check out the payment methods available and make sure that you are comfortable with at least a couple of them. In case you are located in the US and you sign up for an US friendly bookmaker, the number of payment methods is rather limited compared to the bettors that are located in Europe.

In case it happens to find an online sports betting website that you would love to use and you can’t get the money deposited, you definitely need to contact them via e-mail or phone and they will work out something for you.