Deposit Options on Betting Sites
It is always important to do a little homework before selecting a betting site. The variety of sports covered and betting lines offered, as well as the quality of customer service available are all important items to consider.
Just as important are the methods of deposit available on a betting site. There are a wide variety of deposit methods available, depending on your location. These include using major credit cards like Visa, MasterCard and American Express, electronic payment services, and money transfer services.
This article discusses some of the most common and widely used methods for funding and cashing with online betting sites.
Using Credit Cards to Fund Your Betting Site Account
Using a credit card is one of the most common deposit methods. American Express, MasterCard and Visa are widely accepted by betting sites all over the world, and are a good sign of a betting site’s legitimacy, since major card issuers are usually careful not to conduct business with fly-by-night operations.
Typically, both standard and pre-paid credit cards can be used quickly and easily for both making deposits to and withdrawing funds from your betting site account. Limits may be placed on the use of a Visa, MasterCard or American Express credit card, and some betting sites may charge fees for using credit cards for deposits and withdrawals, so it is important to find out a betting site’s policy before making your deposit.
Things can also be a bit tricky if you are using a credit card issued in the United States. Federal law restricts the use of credit cards issued in the US from being used for transactions with betting sites.
Online Payment Services as an Alternative Deposit Method
Fortunately, there are services available that enable American credit card holders to make deposits and withdrawals while still operating within the confines of American law. Online payment services such as Neteller and Skrill/Moneybookers are widely used to make deposits at betting sites around the world.
Based in the United Kingdom, both Neteller and Skrill/Moneybookers allow customers to use an E-Wallet or Digital Wallet account to safely and securely make deposits to a betting site from a debit or credit card, without revealing the user’s personal financial details, such as credit card issuer and number.
Neteller and Skrill/Moneybookers are established payment services companies with tens of millions of users around the world. Both companies have built strong reputations for offering high quality customer service and enabling speedy, reliable and secure payments.
Of course, depending on where you are located and the service that you choose, you may incur fees. Fortunately, most reputable sites that accept deposits from services like Neteller and Skrill/Moneybookers also offer a variety of deposit bonuses and other promotions that usually offset the cost of any fees incurred.
Making Deposits Using PayPal
Another payment service that is rapidly growing in popularity as a deposit method at betting sites is PayPal. Particularly popular at betting sites servicing the UK and parts of Europe, PayPal enables users to make deposits and withdrawals quickly and easily, and without the need to use an intermediary money transfer service.
As is the case with any transactions conducted using a PayPal account, you may have to pay fees depending on the size of the deposits and withdrawals you are making. However, PayPal usually only charges fees on transfers of small amounts. Fees are usually waived on large sums.
If you do not have a credit card, do not wish to make a bank transfer, or are unable to use your PayPal account to make deposits at the betting site of your choice, you still have options.
Making Cash Deposits with Western Union and Moneygram
Western Union and Moneygram are long established, US-based money transfer services that are popular with sports betting fans, particularly in the US. With Western Union and Moneygram, you don’t have to provide a credit card or bank account information to make a deposit.
Simply bring cash to one of the thousands of Western Union or Moneygram locations around the world. For a fee, you can make a cash deposit directly to your betting site account, often in larger amounts than would be possible using a credit card or PayPal account. Of course, deposits using money transfer services usually take time to process, and it is always advisable to contact the customer service group at your betting site to let them know that your deposit is on the way.
It is also important to note that money transfer services can also be used for withdrawals. But again, expect to pay fees and endure some waiting time, often several days, before your money transfer withdrawal is processed.
With so many options available it is important to do your homework about the deposit methods your betting site offers and which ones work best for you.