You may have noticed the impact online betting has had across the United States over the last few years, with a growing number of states making a leap of faith and lifting the long-running ban on betting. Until 2018, online gambling was illegal across much of the United States, and that remains true today, but things are changing. Legalized betting is sweeping across the US, and it could be on its way to a state near you.
For the most part, online sportsbook gambling has been well-received by the population of the US, with millions rushing out to enjoy these newfound freedoms. They are registering at the best legal sportsbooks, making deposits, and placing bets on their favorite sports, competitions, teams, and athletes. Watching sports live on TV or from the stadium is great, but it can’t compare with the excitement felt when making a correct prediction on the outcome and making a profit off your sporting knowledge.
You love professional sports, know your stuff and are ready to join the movement and start betting on the next big match, race or fight shown live on television. But how do you pay for these bets, and how will any winnings due to you after the fixture be paid? You have options on how to pay for your bets and receive your winnings, and we bring you fully up to speed in this article. By the end of the page, you’ll know the most popular payment option and the best of the new additions, including Bitcoin betting sites.
Debit card
A debit card is the most popular way to add funds to your online betting account securely. All major suppliers are covered, including VISA and Mastercard. The card must be registered to the same name and address as your betting account to be accepted.
Once you have registered your card against your betting account and everything matches, you can start using it for online transactions. Simply add your selections, type of wager, and stake to your bet slip and then click confirm. The funds can then be taken from any available balance or the debit card registered. All transactions and movements of money will be instant and protected by the latest online security measures.
E-wallet
All deposit methods are instant, and withdrawals begin to be processed as soon as you request them, but it can take up to three business days for winnings to be sent to your debit card. Many would prefer instant access to cash, and they can achieve this by dealing in e-wallets.
The top names are covered, including PayPal, Skrill, and Neteller. All deposits are protected and instant. Withdrawals are advertised as less than 24 hours but, in most cases, appear in your account within seconds.
Crypto
The most modern, ambitious, and forward-thinking online sports betting apps now accept crypto as a payment method, with Bitcoin being the preferred option. This is a major step forward for both the betting and crypto industries. All funds are transferred at the click of a button, and there are no fees added for paying in Bitcoin.
Simply copy and paste your crypto wallet information into your payment options in the member’s area of your bookie, and when making future bets, you will be asked which payment account the funds due should be taken from. Select the crypto option and click to confirm. The transaction will be complete, and your balance adjusted.
Cash
A limited number of popular bookies still allow customers to deal in cash. This isn’t easy, as you can imagine, but the top apps manage it without too much stress. To make bets using cash, you must first purchase a voucher and add the details to your online account to top up the balance.
You can then place bets using the funds available in your betting balance. If you have bagged a profit, the winnings can also be withdrawn in cash from a local sportsbook gambling office.
Credit card
Most leading bookies now don’t accept deposits to a credit card, and this practice has been banned in the United Kingdom.
Expect many other countries to follow the UK’s example. Some regions of the world may still accept credit card payments, but we advise against betting with credit.