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Bank Wire Betting Sites

In the high-tech modern world, online sportsbook and casino deposits can be made within seconds thanks to services such as debit cards and e-wallets. But before these innovations came onto the scene, customers were still able to send money from one place to another by using older methods such as bank wire transfers.

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This system of transaction actually stretches back to the 19th century, a time when telegraph companies were the most reliable way to send information across the nation. Western Union was the most notable example, and a customer could walk into any telegraph office and request a wire transfer.

Western Union remains in business, although they now concentrate on more modern forms of communication and financing. Wire transfers also remain, and numerous bank wire betting sites operate around the planet. The system is still used for plenty of non-gambling transactions, and it’s estimated that hundreds of thousands of these take place every day.

If you’re thinking about using this method to fund an online sportsbook, casino, or poker room, then the information below should be helpful. 

Why Choose Bank Wires For Your Betting Site Deposits

While new methods of financial transactions are constantly being created, there are a number of reasons why bank wires have managed to stick around. In this section, we’ll look at some of the more notable examples. 

The biggest positive involving bank wire betting sites is the long history of dependability. This method of transaction has been active for over a century, and it’s something that almost everyone has access to. 

Security is another major benefit, as people have been transferring funds in this way for decades without any major problems. For those who’ve been burned on the Internet, this old school approach can add an additional level of comfort. As long as you trust your local bank not to cheat you, then everything should be fine.

If you still need convincing about the usefulness of bank wires, I would suggest the overall level of acceptability as a major factor. Sending money in this fashion has a long history, and transactions can easily be accomplished regardless of the location of the recipient. U.S. players can use bank wire transfers with no trouble, and all American-friendly casinos and sportsbooks accept it as a method of payment (mainly because it’s proven immune to the Unlawful Internet Gambling Enforcement Act).   

Bank Wire Betting Sites – What To Look For Before You Deposit

In order to be classified as a bank wire betting site, a sportsbook or casino needs to accept this form of payment as a legitimate transaction option. This is the first thing you should look for before making a deposit, and the necessary information can usually be found on the site’s homepage or in the cashier section. 

It’s also important to make sure that the sportsbook or casino accepts players from your country. Some sites take players from any nation, while others are far more particular. You’ll know your country is prohibited if you’re unable to fully access the site, and this may be accompanied by a full-screen notification. 

Once you’ve established that the site accepts bank wires and customers from your country, the next item on your pre-deposit checklist should be the cost of each transaction. This is one of the major reasons why bank wires have fallen out of favor in the Internet age, so make sure you pay attention to the inevitable cost and verify that it’s an amount you can live with.  

Now that these vital elements have been checked out, it’s time to do some research on the actual website. There are a number of forums and watchdog sites dedicated to measuring the reliability of gambling services, and I suggest consulting several to get an accurate idea of what to expect. If players constantly complain about payment speed or the fairness of games, then you’d be smart to come up with an alternative betting site. 

How Do Other Betting Site Deposit Methods Compare To Bank Wires? 

Bank wire betting sites are plentiful, and this gives them a major advantage over services like credit cards for U.S. players. The UIGEA was meant to squelch financial transactions involving online gambling, but bank wires remain one of the few unaffected services. 

Almost any other service is superior when it comes to fees, as sending a bank wire can cost the sender anywhere from $20 to $40. The recipient is also required to pay a small amount, so frugal individuals may want to look elsewhere. 

Bank wire transfers can take up to 10 business days to process, a rate of speed that lags far behind most methods of deposit. The main exception is the paper check, as these can take up to a full month. Unless you’re using the latter, however, almost anything else is superior.