Recent crackdowns by various governments and financial bodies have made it much harder for potential bettors to deposit money into an online bookmaker account, depending on which country you live in.
It seems a bit odd that, in the United States, Las Vegas is allowed to operate as freely and without rules as they like. However, the government does everything in its power to keep bettors from using a far safer and less seedy venue for wagering. That is a story for another day though.There are still a large number of useful options for depositing funds into your account. Here is a quick outline and explanation of a few of the more popular choices.
Most recommended option to fund your account. With the popularity of bitcoin and other cryptocurrencies around the world, online gambling industry noticed that the fastest and safest was to fund your account was through the bitcoin process. If you are not familiar with this whole cryptocurrency, don’t panic, the steps to convert the dollars to bitcoin are not that complicated. Step one, would be signing up with an exchange and link your bank account. By doing so, you will have access to purchase more bitcoins straight from your account, same goes for the payouts. Once winnings are are sent back to your exchange in a bitcoin format, you would convert them to dollars and send them back to you linked bank account.
This method is based on the state you live in. This is the simplest and quickest way to fund any account with an online sports betting site. A credit or debit card transaction occurs immediately, and is credited into your account as soon as the card issuer approves the transaction.
For US sports bettors, Instant Echeck is one of the easiest and best ways to deposit money to an online sportsbook. However, many sports bettors from the United States refrain from using this service as not all sportsbooks offer an Instant Echeck Deposit facility. Though the main reason behind this is still not known, experts from the industry state that this is mostly due to the high costs that are involved in the sportsbooks.
A wire transfer is another rapid way to fund your account. It involves a bank transfer done electronically, which links directly to the payment provider of the bookmaker. There are varying rules regarding wire transfers from one sportsbook to another, so it is best to review their particular instructions.
This is one of the more popular methods with today’s bettor, and involves three steps or choices; depositing money into a NETeller account, transferring money to or from your account, and withdrawing funds from your account. Customers prefer NETeller primarily because your credit card data is not given to the actual merchant.
Western Union has been around for over 150 years and is the premiere choice for money transfer services worldwide. They offer the option to transfer funds electronically as well as use the basic system of money orders. Western Union is available in nearly 200 countries, and features over 100,000 locations for your convenience.
FedEx or UPS
This is the ideal means if you are sending a money order or cashier’s check to fund your account. It allows you to not only track your shipment, but offers full insurance and the ability to discretely send your funds.
Cashier’s Check/Money Order
The cashier’s check or money order itself is a popular choice. Each sportsbook has different guidelines regarding these types of deposit options, so check with your particular bookmaker for full instructions on this option.
Moneybookers offers many of the same functions as NETeller. However, they are located in the UK. You can issue funds into your account by wiring it from your bank or simply using a credit or debit card. There is a small fee per transfer, but it maxes out at a mere 50 cents.