When you sign up for an online sportsbook, the safety and security of your hard-earned funds should be atop your list of priorities. This has to be one of the top advantages of placing bets at legal and regulated US Sportsbooks as every banking method is thoroughly tested by the regulatory body of each state to ensure that your funds are kept safe and deposits and withdrawals are quick and painless.
Gone are the days of using offshore sportsbooks and wondering if you will ever get your winnings to your bank account. Legal US sportsbooks use many familiar banking options to ensure that you get your funds, and get them quickly. Below is our top picks for banking options at US Online Sportsbooks.
Sportsbook deposit methods are tested by the sportsbook's development team and quality assurance (QA) team. Once the sportsbook deems the payment methods safe, they will then submit for testing to the regulatory body of each state. For example, if FanDuel wants to submit PayPal for approval in New Jersey, they would have to pass testing from the NJDGE (New Jersey Department of Gaming Enforcement.) The testing process can vary depending on the specific deposit method being tested, but some common steps in the testing process include:
Overall, the goal of testing sportsbook deposit methods is to ensure that they are secure, reliable, and easy to use for customers, and that they work seamlessly with the sportsbook's platform.
Sportsbook | Welcome Bonus | Promo Code |
|---|---|---|
Caesars Sportsbook | Bet $1, Double Your Winnings 10x | |
FanDuel Sportsbook | Get $350 in Bonus Bets Guaranteed - When You Bet $5 for 7 Days | |
BetMGM Sportsbook | Up To $1500 in Bonus Bets Back if your First Bet Does Not Win | |
DraftKings Sportsbook | Spend $5+ Get $150 in Bonus Bets Plus 20% Match up to $1,000 | |
BetRivers Sportsbook | Second chance bet up to $500 | |
Bet365 Sportsbook | Bet $10, Get $365 in Bonus Bets Win or Lose Gambling Problem? Call 1-800-GAMBLER. Deposit required. Paid in Bonus Bets. Bonus Bets wager excluded from returns. New Customers only. T&Cs, time limits and exclusions apply. | |
PointsBet Sportsbook | ---- |
21+. Gambling Problem? Call or Text 1-800-GAMBLER
When choosing a deposit or withdrawal method for your US Online Sportsbook account, there are a few things you want to consider.
With all that in mind, here are our top picks for payment methods in the US sports betting market.
PayPal is a widely accepted payment method for online sportsbooks, and almost all sports betting sites allow users to deposit and withdraw funds using PayPal. Using PayPal at an online sportsbook offers several advantages, including fast and secure transactions, low fees, and the ability to keep your financial information private. PayPal is also the fastest method to get your winnings back to your bank account, as once they are approved, you will see the funds in your PayPal account instantly.
To use PayPal at an online sportsbook, you will first need to create a PayPal account, which requires a valid email address and a linked payment method such as a bank account or credit card. Once you have set up your PayPal account, you can navigate to the cashier or banking section of your chosen sportsbook and select PayPal as your payment method. You will then be prompted to log in to your PayPal account and confirm the transaction.
VIP Preferred ACH is a popular payment method available at many online sportsbooks in the United States. It is a fast, secure, and convenient way to transfer funds between your bank account and your sports betting account.
ACH stands for Automated Clearing House, which is a network that allows electronic funds transfers between banks in the United States. VIP Preferred is a service provided by Global Payments, a company that specializes in electronic payment processing.
To use VIP Preferred ACH, you need to sign up for an account with Global Payments, which can be done directly in the sportsbook cashier, and link your bank account to your VIP Preferred account. Once you've done that, you can make deposits and withdrawals from your sports betting account using VIP Preferred ACH. Once set up, all other sportsbooks should see that you have an account and instantly allow you to deposit.
One of the advantages of using VIP Preferred ACH is that it is a fast and convenient way to transfer funds. Deposits are usually credited to your sports betting account within a few minutes, and withdrawals are typically processed within a few business days. Additionally, using VIP Preferred ACH can be more secure than other payment methods because your bank account information is not shared directly with the sportsbook.
Venmo is a popular mobile payment service that allows users to send and receive money to other Venmo users. It was founded in 2009 and acquired by PayPal in 2013. You can now use Venmo for sportsbook banking transactions directly from the sportsbooks cashier.
The app is available for free on iOS and Android platforms and can be linked to a user's bank account, credit card, or debit card. To send money, users simply enter the recipient's username, the amount they wish to send, and a brief message to describe the transaction.
Venmo has become popular among younger generations and is often used for splitting bills, paying rent, or reimbursing friends for social events. Users can also use Venmo to make purchases from online sportsbooks that accept the service. Venmo provides transaction histories and allows users to set privacy settings to control who can see their payment activity.
Apple Pay is a digital payment and mobile wallet service developed by Apple Inc. that allows users to make secure and convenient payments in stores, online, and in-app using their iPhone, iPad, Apple Watch, or Mac.
When a user adds their credit or debit card to Apple Pay, their card details are encrypted and stored securely on the device's Secure Element, a hardware-based security feature. When a user wants to make a payment, they can simply hold their device near a contactless payment terminal, and authenticate the transaction using Face ID, Touch ID, or a passcode.
Apple Pay also offers a number of other features, such as the ability to send and receive money through iMessage, as well as the ability to store and use loyalty cards and rewards programs in the Wallet app. Users can also use Apple Pay to make payments on the web or in apps on their iPhone, iPad, and Mac.
One of the key benefits of Apple Pay is its security. Because the user's actual card details are not transmitted during a transaction, there is no risk of the card being compromised in a data breach or stolen during a transaction. Additionally, every transaction requires authentication using biometric data or a passcode, which adds an extra layer of security.
Apple Pay is widely accepted at many US Online Sportsbooks, but not as many as the previously mentioned payment methods. One drawback is that only bettors with iOS-powered devices can use this as a deposit method.
Play+ prepaid cards are a type of payment method that can be used at online gaming and sports betting sites. They are essentially a prepaid card that is loaded with a certain amount of funds and can be used to make purchases or withdrawals.
One of the key benefits of using a Play+ card is that it provides a secure and convenient way to make transactions at online gaming sites. It is often quicker and more efficient than traditional payment methods, such as credit or debit cards, as transactions can be processed instantly.
Once you sign up for a Play+ card in the sportsbook cashier, you will receive a physical card in the mail within three weeks, and this card can be used at any ATM and also used as a debit/credit card anywhere Discover is accepted.
To use a Play+ card, users typically need to sign up for an account with a participating online gaming or sports betting site. They can then fund their Play+ account with a debit or credit card, bank transfer, or other payment method. Once the funds are loaded onto the Play+ card, it can be used to make deposits or withdrawals at the online gaming site.
Using a Visa or Mastercard to make a deposit at an online sportsbook is a common and convenient method of payment. However, it's important to note that some online sportsbooks may limit credit card deposits due to the risk of chargebacks or other issues.
If the sportsbook does accept credit card deposits, you can typically add your card as a payment method in the cashier or account section of the website or app. From there, you will need to enter your card information, including the card number, expiration date, and security code.
Keep in mind that some credit card issuers may consider deposits to an online sportsbook as a cash advance, which may come with additional fees and a higher interest rate. It's always a good idea to check with your credit card company to understand their policies and potential fees.
The deposit and withdrawal methods listed above are our top choices, but there are still other methods for getting money on and off your sportsbook account. All banking methods are safe and secure, so it is up to you what methods is most convenient for you.
***It is important to note that cash deposits will typically make you ineligible for bonus offers like deposit matches, second chance bets, and bet & get promotions.
Making a deposit at an online sportsbook typically involves the following steps:
Once your deposit is processed, you'll be able to start placing bets on your favorite sports. Be sure to read the sportsbook's terms and conditions, and familiarize yourself with their deposit and withdrawal policies, to ensure a smooth and hassle-free betting experience.
Yes! All sportsbook banking methods are thoroughly tested for safety, speed and integrity by the states regulatory body.
Yes! Many online sportsbooks use PayPal and Venmo as a top banking method.
Withdrawals need to be approved by the sportsbook, but once approved the typical time for it to hit your account is
Yes! In states that allow online casinos, you can use all funds from the sportsbook in the online casino.