Best Payment Methods for Betting Sites 2020
Sports betting is being legalized in a growing number of states across America by the day and players can finally bet on sports in a safe and legal atmosphere. To make real money wagers, players must first deposit money into their account and we take a look at some of the most popular and convenient methods of depositing and withdrawing money from sports betting accounts at the best sports betting sites in the USA.
Sports Betting Banking Guide
Online betting sites in the USA are guided by different laws in each state, but they all share a lot in common. When it comes to making payments to the operators, players can usually use several different methods, with credit and debit cards such as VISA, MasterCard and AMEX being the most common and e-wallets such as Skrill, NETELLER and WebMoney often offered as alternatives.
When picking the way to make their first deposit, players should consider several different important factors. Primarily, you want your deposits to be processed instantly and to have the option of cashing out with the same method you used for the deposit, which is not always the case. Furthermore, you should get informed about potential fees that you may incur when you decide to make a cashout out of your account.
Top 5 Betting Sites with VISA
VISA is one of the most popular credit cards in the world, issued by most banks in America. If you are a VISA holder, it is likely you will be able to make a deposit with a bookmaker of your choice as this is one of the preferred payment methods of all online betting sites. VISA makes every betting sites deposit free and instant, while cashouts can take a few days but are very cheap to process.
Top 5 Betting Sites with AMEX
Just like VISA, AMEX makes it possible for players to make a deposit with an online sports betting site without opening any extra accounts or paying special fees. AMEX deposits are just as fast and cheap as those with other credit cards and cashout requests will reach your card within a few days. Using your American Express to make a deposit will only take a minute and you will be able to jump right into the action after opening your betting account.
Top 5 Betting Sites with PayPal
PayPal is the most popular e-wallet on the planet, used by millions of users to complete purchases of all sorts. While it is used by many international bookmakers, PayPal is not as popular with American bookies. However, once you find a bookie that will accept it, a betting sites deposit with PayPal will be instantaneous and free of any charges. Keep in mind that some fees will be incurred when cashing your money out, but the withdrawal will be processed within a matter of hours.
Top 5 Betting Sites with NETELLER
NETELLR is another popular UK based e-wallet solution, offering users a quick and easy way to move money around without sharing their credit card details with the actual betting sites. If you choose NETELLER as your payment method, you can count on extreme speed with both withdrawals and deposits, but the fees you will incur will be higher than with most other methods, so keep that in mind at all times.
Top 5 Betting Sites with Skrill
Owned by the same company as NETELLER, Skrill is an even older and more widely used online payment solution. Similar to NETELLER, Skrill allows players to deposit money from their credit cards or bank accounts while keeping their privacy at a higher level. The advantage of Skrill is that it offers slightly lower fees compared to NETELLER, while offering a high level of service and very fast cashout processing, usually with only a few hours of waiting period.
American legal online bookmakers offer players several different types of payment methods. Most players make deposits using credit cards such as VISA, AMEX or MasterCard, while others choose e-wallets or prepaid payment solutions. Popular e-wallets like Skrill and PayPal are sometimes offered as alternatives to direct banking deposits.
Yes! As long as you pick a legal online betting site in your state, any cash you deposit with it will be 100% safe. Licensed betting sites are obligated by law to keep all money safe and segregated and user funds are always kept ready for cashout.
While you will technically not be penalized in any way if you bet on offshore sites, your security will be compromised every time you do so. Since such sites have no legal standing in the USA, they are not obligated to pay you your winnings or make good on any promotion or other claim they made.
Yes! Most US based bookies offer some type of bonuses when you sign up and make your first deposit. To claim your betting sites deposit bonus, you will need to sign up to one of the online bookmakers that are legal in your state and deposit using one of the numerous payment methods on offer first.
If you are not sure about depositing money with the online bookmakers, you can sign up for free first and even get some betting sites no deposit bonus offers from them. In this case, you will get real cash to bet on games without the need to deposit at all.
Once you have won some money at a sportsbook, you may want to withdraw some of your winnings. When you request a cashout, you will be able to choose from several withdrawal methods, but the available methods may depend on the way you deposited in the first place. For instance, if you deposit with Skrill, you will have to cash out into Skrill as well.
All payment methods we mentioned in this guide are safe and reliable and the actual choice will be down to you as the player. While some players appreciate privacy, others look into fees more and others yet prefer speedy cashouts. Choose the method that best matches your personal preferences and you will not be disappointed.