USA Banking Options for Online Sportsbooks

USA residents looking to deposit into an online sportsbook are finding the process more and more difficult. The good news, however, is that there are still plenty of options which we’ll cover on this page. Prior to doing so, we want to provide a bit of a warning by advising our readers to be careful in their selection of an online sportsbook. Since the industry was in its infancy, there have been a great deal of scams, as well as failed sportsbooks that have run off with deposits. Many of these companies masquerade as legit operations, so to ensure that you do not fall victim, we recommend sticking with only trusted online sportsbooks such as Bodog and Bet Phoenix. With that said, let’s get into the deposit and withdrawal options available to USA sports bettors.

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Direct Money Transfer: A direct money transfer involves going out to your local supermarket and filling out a send money slip. The sportsbook will provide you with the details on what name to send the money to. Once the transfer is complete, you call the sportsbook with a money control number or a reference number. In an hour or two, the funds will be added to your account, and you’ll be able to wager. The good news here is that most sportsbooks will also cover the associated fees, adding those to your balance as well.

While direct money transfer is available at many sports books as a deposit option, very few offer it for withdrawal. The exception to this is Bodog, where a bettor can request up to a $3,000 cashout via direct money transfer each week. Upon requesting this, in a day or two Bodog will email you with the info required to pick up the transfer. You take this info over to the grocery store, fill out a form, and in ten minutes or so you literally have cash (not a check) and a receipt in your hands. This is by far the most convenient and fastest way to be paid by a sports book.

Credit Card Deposits: These days it is difficult to get a USA credit card deposit processed at most sports books. The two USA friendly sports books with the highest approval rating on USA issued credit cards are Sportsbook.com and PlayersOnly. Even if your credit card has been rejected elsewhere, give it a try at one of these sites.

The days of credit card withdrawals are a thing of the past. Even if you are successful in depositing with a USA credit card, you will not be able to cash out via this method. You’ll want to look instead for an alternate cashout option, such as paper checks.

Paper Checks: First of all, while some sportsbooks will accept them as a method of deposit, we never recommend sending a check or a money order to a sports book. If you’re considering doing so, please know that you’re so much better off using direct cash transfer, or using an e-wallet, such as UseMyWallet, or eWalletXpress.

While paper checks are not a great method for deposit, they are a decent method for withdrawal. Be prepared for a brief delay at some sites and a longer one at others. In our experience, the company offering the fastest check withdrawals is Bodog.com.

e-Wallet Accounts: Popular e-wallets such as UseMyWallet, and eWalletXpress are still available to USA players. These e-wallets allow a player to deposit using a credit card or their checking account. Once your e-wallet account is funded, you can make a deposit to a USA friendly sportsbook.

One of the best features of e-Wallets is the flexibility that they provide when cashing out. When you make a withdrawal from a sportsbook to your e-wallet account, your funds remain available in that account and can then be used however you prefer. Now you might want all those funds right away, and if so you can usually request an immediate e-check or wire transfer withdrawal. If on the other hand you want to store those funds or use them to deposit into another sportsbook, well those options are available to use as well.

In summary, the most convenient site to deposit at is probably Sportsbook.com or PlayersOnly, and the most secure and prompt site while perhaps a little less convenient is Bodog.com.