When sportsbooks first came online making a deposit or withdrawal could take days. Now, when you want to put cash in your account you may do so in a matter of minutes. However, withdrawals still take time. Here’s a look at both procedures and how they work for U.S. sports bettors.
Online Deposit Articles
- Inter-Sportsbook Transfers
- Credit Card Deposits
- Bank Wire Deposits
- Person to Person Transfers
- Check Deposits
Sports Betting Deposits
For those in the U.S., deposit options at sportsbooks are often limited. Although you may try to use your credit card or bank debit card in order to make a deposit, chances are neither will go through. However, it is often worth trying once. If it works, then you’re home free and ready to roll. If neither of those methods is successful, there are a few ways that will definitely work.
Methods of deposit used successfully by those in the U.S. include:
• International, online debit card
• Western Union
An international, online debit card is the type that may be used for purchases made over the Internet and outside of the U.S. Often these may be bought at pharmacies or large retailers. Once purchased by the user, the card must be registered prior to being utilized to make online, international purchases, which includes funding your sportsbook account. These cards may be reloaded. MasterCard issues this type of debit card, and such cards can take a week or so to register.
Cash transfers may also be done using either Moneygram or Western Union. Funding your sportsbook account in this manner is fairly easy. Rates vary, depending on where the sportsbook is located. Once you make the transfer, it will usually take less than 30 minutes to process.
In order to make such a wire transfer you will need to:
• Get information from the book as to whom you are sending the money. Record all information carefully, as any mistake will negate the transfer.
• Go to a Moneygram or Western Union location or use their online service.
• Provide the sender with the appropriate information, which includes your name and contact information, the name of the person to whom you are sending funds, their location, and the amount being sent.
• Once the Moneygram or Western Union agent processes the transfer, you will be given a money transfer control number (MTCN). This series of numbers will be printed on your receipt.
• Contact the book and given them the MTCN so that they may then have access to the funds.
• Your account will be funded within 30 minutes.
Sportsbooks do limit how many times per week or month that you may make a deposit using certain methods. They will also have minimum and maximum deposit amounts associated with each mode of funding. Read all of this information carefully before making a deposit.
Sports Betting Withdrawals
The most common methods for withdrawals are:
• Bankwire transfer
• Paper check
• Western Union of Moneygram
In order to withdraw funds from your sportsbook account you will need to have your identity verified. This usually involves submitting copies of specific documents, such as your driver’s license and bank account information. Once you are verified, you may initiate a withdrawal. The sportsbook will have minimums and maximums for such transfers. There are often fees associated with such transactions and they can take anywhere from five days to three weeks, depending upon the method used and the individual sportsbook.
A solid book will be able to offer you help with either your deposit or withdrawal. If you have any questions or problems, contact your book through live chat, phone, or email. Most problems can be cleared up very quickly. Explain your problem or question carefully and make sure that you have a thorough understanding of what you need to do and how long it will take to fix any problem.
Smart Funding and Money Management
In funding your account, make sure that you have enough in it for game day. You don’t want to find yourself short when it’s time to make bets. Also, take time to plan strategically how you will use your funds. Don’t rely on “make it or break it” bets, as these will often break your bank rather than make it. Plan ahead to have a productive week of betting.