Legal Sports Betting Deposits
Starting up an account with an online sportsbooks sure is and exciting prospect. After all, most Americans spend years amassing a great wealth of knowledge on sports, and the idea of turning all that knowledge into real cash is thrilling. However, before players can begin turning their hunches into cold hard cash, they need to get a good grasp on online sportsbook deposits, and we’re here to help.
This guide to sportsbook deposits will cover all the different methods you can use to deposit into your US sports betting site and some of the defining characteristics of each of them. We will also go over some of the major questions that US residents have about the deposit process in general and point you towards some of our very favorite sportsbooks that offer great, secure deposit options. It’s our hope that by the end of this page, you’ll have a deep understanding of the deposit process so that you can start betting on sports.
Some residents remain afraid that even after they sign up with their legal sports betting site of choice that they can get in trouble for making a deposit into it. Fortunately, that is not the case. Although there are certain US sports betting laws like the Unlawful Internet Gambling Enforcement Act (UIGEA) that contain some scary language, they do not target players, and only the facilitators of betting. As for your sports betting site, rest assured that if they accept US players, they have learned how to work around all the policies that govern the deposit process.
Occasionally, a credit card transaction may be declined for seemingly no good reason. Players should not panic at this scenario: it does not mean that they are performing an illegal action. Remember that these sports betting sites operate offshore, and as anyone who has tried to use their credit card to make a foreign transaction can attest, things can sometimes get complicated. One of the reasons that these legal online sportsbooks for US accepts many different sports betting deposits is so that there are several secure and legal options to choose from should one not work.
The answer to this question will obviously vary from sportsbook to sportsbook, and is one of the primary reasons we spend so much time singing the praises of the handful of sports betting sites we choose to endorse on this network. Just so long as you choose the right site to serve your sports betting needs, there is no reason to ever concern yourself with the notion that your money may not be safe.
The legal nature of these sites allows them access to top of the line security software when it comes to protecting both your identity and your financial information. While we’re not tech geeks ourselves, we can tell you that none of the sites we endorse was ever hacked and there has never been a major financial leak. In our current society, when just about every online retailer has had an issue with a virus or hacker at some point in time, that is indeed an impressive accomplishment.
Read More: Are Online Sports Betting Sites Safe For U.S. players?
Taking the steps to ensure that you’re ready to start making bets with real money couldn’t be easier. Once you’ve decided on a sportsbook, sign-up shouldn’t take longer than about ten minutes. After that, they will direct you to the cashier where you can make your choices about the deposits. They will present you with several options, so it’s good to weigh all of your options carefully as they all come with their own pros and cons. While specific options are going to vary at legal betting sites in the US, we have outlines some of the most popular deposit options below for your convenience.
Major Credit/Debit Card - The most popular method for depositing into your online sportsbook is using a debit or credit card. The reason for its popularity is simple: its wide availability across all sports betting sites and the fact that you can do it right from your chair make it the most convenient of all these deposit methods. When you make a deposit with your credit card, you’ll see your account credit within a matter of minutes, and you can start betting right away.
Cash Wire Transfers - For users who cannot get their credit card to process for whatever reason or simply prefer not to use, cash wire transfers via services like Western Union or MoneyGram provide a safe and efficient alternative. While these services will require you to put on pants to visit a retail outlet, their quick speed and ease of use makes them a popular method. Once your transfer goes through and you can verify the process with your sportsbook’s cashier over the phone, you can expect to see your funds post to your account immediately.
Reloadable Gift Cards - For some customers who can’t get their personal credit card to go through, reloadable gift cards could be a logical next choice. Many of these cards come verified by VISA or MasterCard ensuring that online retailers will accept them. This can be a good way to capitalize on all the convenience of depositing with a credit card without having to use your own personal card. It also serves as a good way to keep the money you dedicate for betting separate – ensuring that you can never accidently bet more than you have.
BitCoin - For those who have bought into the age of the internet wholesale, BitCoin is the currency of choice. For ease of transfer over foreign borders, many legal online sportsbooks that accept USA players have turned to accepting BitCoin as a verified sports betting deposit method. For those who already use BitCoin regularly this could be a convenient way to make a deposit for sports betting, but those unfamiliar with the currency could run into issues as once you make a deposit in BitCoin, that’s the only way you’ll be able to receive the payout.
Other - Online sportsbooks will offer other legal sports betting payout methods than those listed above. They generally cater to high rollers or those with special interests, like overseas accounts. Players can deposit into their sportsbooks using eWallets where the money can easily move in and out, a bank wire transfer that establishes a connection directly between your bank account and your sportsbook, or even by a check through the mail. If you have further questions when looking at the deposit methods offered by your favorite sports betting site, don’t be afraid to reach out to the cashier. They will always be happy to help.
It’s easy to overlook among flashy sportsbooks that offer big bonuses and lots of propositions and betting options, but safe, secure and convenient deposit methods can be a huge factor when it comes to rating a legal betting site in the US for players. The following sports betting sites have some of the best and most varied legal sportsbook deposits in the business, which is a great help when it’s time to buckle down and start betting real money on various game lines and propositions.
Although the selection of deposit methods for this US sports betting site isn’t likely to floor anyone, we felt we had to include this site based on their reputation, merit, and longevity of service. Although players may only deposit via credit card or cash wire transfer, Bovada deserves credit for standing as one of the best and most secure sportsbooks available on the web. In over two decades of service to US players, they have never leaked any financial information or failed to follow up on a deposit immediately. That record is too impressive to ignore!
Once you do make your deposit into the Bovada sportsbook, you’ll find that not only will all the money you want to bet with make into your account safely and in record time, but also that Bovada will add another 50% of the amount on top of your deposit in the form of free bonus money. You can collect up to $250 using this promotion, and we can’t think of a better way to get your account started on the right foot!
| LEGAL SPORTS BETTING | Details | BONUS REWARDS | Find Out More |
|---|---|---|---|
| Bovada Sportsbook | review | Collect Up To $250 / 50% Match | |
| BetOnline Sportsbook | review | 25% Match Up To $1,000 - "FIRST" | |
| SportsBetting | review | Bonus To $1,000 / 50% Match - "SB50" |
Deposit Fees - As anyone who has ever attempted to transfer money overseas can tell you, there will most likely be some fees associated with your deposit. The specific numbers are going to vary depending on which site you choose to go with, but all the best legal USA betting sites will do their very best to keep the fees low. You can generally expect to pay 4.5% or less on your deposits, where there is generally a relationship between the speed and convenience of the deposit and the amount of the fee. Also bear in mind that some of these deposit methods will require you to pay a third party, as well. For example, if your sportsbook offers a lower fee for a cash wire than they do for a credit card deposit, that could seem like a better deal. However, the amount you have to pay your wire service could wind up making it more expensive.
Deposit Limits - Due to the various steps involved to transfer money between countries, these businesses will often need to impose certain minimums or maximums on their deposits. They generally try to work these limits so that there is a wide opportunity for most bettors, but some deposit options, namely the option to set up a direct wire to your bank account are more suited for high rollers. When considering which deposit method works best for you, consider how the limits work in conjunction with how you plan to bet.