There are a variety of ways to deposit to a sportbook. Some methods have definite advantages over others such as lower fees, better bonuses and are generally quicker. Another thing to consider is that a number of sportsbooks will transfer any winnings back in the same manner as the deposit was made, and any excess will be via bank draft. In addition to checking the fees, if any, on deposits, have a look at the withdrawal fees so you don’t get caught when winnings are paid. There is also the added security that you are removing the need to supply credit card or other account information to the sportsbook directly. Although you should only be playing at reputable sportsbooks whose financial systems are solid, this added level of security should give you extra confort when using one of the electronic transfer methods such as NETeller, Firepay and PrePaidATM. Most of the methods outlined below are applicable for any online gambling place so you can also use them at the online casinos that may be attached to some of these sportsbooks.
If we were to make a recommendation then it would be NETeller. Most sportbooks offer some type of bonus for these deposits and they also now have an Instacash facility where you can transfer straight from your bank account. Just remember that there is a fairly high charge for this if you don’t do it through the sportsbook interface, as they will usually absorb the fee.
Below are a few points about the more prominent methods of depositing to a sportsbook.
NETeller is a secure system used to send funds electronically over the internet. Depending on where you reside, or where you hold a bank account, you can transfer directly to and from your bank account to your NETeller account. Otherwise you can deposit using a variety of methods such as credit card or check, and withdraw via check. Fees charged by NETeller tend to be reasonable and as this is one of the preferred methods for the online gambling industry, usually the transfers to and from your sportsbook account are free. Often there is a bonus for using this method. If you are worried about the funds in your sportsbook account and wish to withdraw them as quickly as possible then this is the best option as it is one of the fastest ways to get cleared funds from your sportsbook account. NETeller is our recommended method for depositing and withdrawing. You can go the NETeller here
Credit cards and in particular Visa and Mastercard, offer a hassle free method if your issuing bank allows online gambling transactions. Many don’t and it is advisable to check with you bank before you try this method. The amount of chargebacks has forced the banks to take this position. As it is a costly method for the sportsbooks (they need to pay the merchant fees) you don’t tend to see the extra bonuses as you do with, say, NETeller. Therefore, if you have to, use a credit card otherwise try one of the other methods outlined. To keep your bankroll separate from your other finances we suggest you keep a separate card for your online gambling and for added security, keep the credit limit low just in case your card number is used fraudulently.
Wire transfer is the same method that has been used in the banking system for years and dates back to prior to the internet. Simply go to your bank with the account details of the sportsbook and instruct them to transfer the funds. Just read the banking details at the sportsbook to make sure you get the references correct so your account is credited at the sportsbook. This can take a few days and you will usually incur a charge.
Bank Draft, Check, Money Order
Sending a bank draft or check is not the most efficient or cost effective way, unless of course you live next door to the sportsbook! Usually you will have to bank or other institution to get the draft or money order, then send it via courier (eg FedEx) or regular mail which can take up to or over a week. It then has to be cleared before you are free to use the funds. There are better ways to get money into your sportsbook account than this.