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Online Gambling USA / Sports Betting Deposit & Withdrawal Options

Online Sports Betting Deposit & Withdrawal Options Reviewed 2024

Last Updated on 03/06/2024
Fact checked by: Jesse M Cox

What are the main gambling sites’ deposit options? Which are the best online gambling withdrawal options? These are just some of the questions that we’ve answered as we look at how you can fund your online betting.

We didn’t just cover making a bet with debit cards or a bet with prepaid cards. This is because we’ve covered some of the new ways that you can bet with pay by mobile. So take a look below to see our comparison table that shows you the best betting sites that accept your preferred payment method!

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Compare Withdrawal and Deposit Options of the best Sportsbooks

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Step by Step Guide to Making a Deposit Payment Online

The gambling sites’ casino deposit methods thus far mentioned are available at the majority of online sportsbooks. To make a payment, the first thing you will need to do is sign up for an account with the casino. Usually, this will involve filling out some general personal information, such as your name and address.

The signup process is typically very straightforward, but some online gambling withdrawal options or gambling sites’ deposit options will ask you to verify your account before making a betting withdrawal or deposit. Verification documents will involve at least one form of photo ID, such as a passport or driving license, and proof of billing address, such as a bank statement or utility bill.

Once your account is set up, you will be able to start making betting deposits. The site will usually ask you to select your preferred gambling site deposit option. You will then need to fill in your personal details for whichever method you’ve chosen. Once that’s completed, you’re ready to start making betting payments on the site.

Average Waiting Time for Payouts

There are many gambling sites’ deposit options and online gambling withdrawal options to choose from.

Direct payments from credit or debit cards are the most used gambling sites deposit options. Funds deposited via VISA or MasterCard will usually arrive in your sportsbook account within a few minutes. Withdrawals through this option take a little longer, in general, around three working days.

E-wallets such as Venmo will offer the best online gambling withdrawal options when it comes to processing time. Withdrawals for this method will usually be in your e-wallet account within 48 hours. Deposits from Venmo and other e-wallets should be instantly credited to your sportsbook account.

PayPal is another great option, although not available at all online sportsbooks. Deposits will typically be transferred immediately, and withdrawals via PayPal will usually be in your account within 12 hours, but this can be extended to 24 hours at busy times, or for late-night requests. There are many betting sites that accept PayPal.

Paysafecards are another of the gambling sites’ deposit options that are instant. However, with this being a prepaid card, you are not able to use this as one of your online gambling withdrawal options.

Verification Process for Adding New Payment Methods 

Some gambling sites’ deposit options and online gambling withdrawal options will ask for extra identification when setting up your account. Particularly for online processes, they may ask to verify your age and address to prevent the creation of illegal accounts.

If you want to bet with PayPal, it’s not necessary to verify your account to make payments or withdrawals, however, there are fewer fees and restrictions for verified users. It’s worth getting verified if this is your preferred gambling sites deposit option. To get verified, you need to provide two original pieces of identification from the following list:

  • Provide and link a bank account number
  • Provide and link a credit or debit card number
  • Provide your social security number.

Planning to bet with Venmo? When creating your Venmo account, the site will ask you for your legal name, address, date of birth, and either your social security or tax identification number. If the site cannot verify you from these details, you may need to provide further proof, such as a photo of your driving license. However, many things recommend Venmo as one of the best online gambling withdrawal options.

The History of Online Payments 

Debit cards have been around since 1966, first piloted by the bank of Delaware. By the 70s, many banks had started using them, and by 1990, debit cards were being used in around 300 million transactions per day. Nowadays, many people will use debit cards for more than half of their everyday purchases.

Venmo was launched in 2009 by two students at the University of Pennsylvania. It was designed as a fee-free way for friends to exchange money digitally. The app would then publish the payments in a feed to be reviewed by other users.

Venmo has become a well respected, fast-growing peer-to-peer payment method. It’s becoming increasingly popular as one of the online gambling withdrawal options.

Want to bet with a Paysafe card? While prepaid cards have been available for various transactions for many years, paysafecard is by far the most widely used prepaid card for gambling sites deposit options. The card was launched in 2000 in Austria and then in Germany in 2001. In 2005, the company was granted EU approval and expanded in Europe throughout 2006.

By 2011, paysafecard was worldwide, and it launched its own smartphone app for even easier accessibility. Now, it’s one of the most trusted online payment methods and has associations with notable brand names such as MasterCard and Google Play.

PayPal was launched in 1998, under the name of Confinity. It was founded as a low-cost, straightforward method for digital payments between consumers and businesses. It led the way in the underserved market of internet Banking. Within three years, the company handled more than $3 billion worth of payments from 10.6 million individual customers.

The name of Confinity was officially changed to PayPal in 2001 when the founders decided to concentrate on online payments. Nowadays, PayPal is the leading online payment company, serving customers all over the world.
All in all, when considering online safety and fraud protection, your best bet is to bet with prepaid cards.

USA’s Preferred Types of Payment – Comparison 

Debit cards are the most commonly used option for online gambling withdrawal options and betting deposits. Paying online with a debit card is something that the majority of people are comfortable with, and all transactions go through your bank, meaning that this is a safe and reliable payment method. While there are lots of new alternatives emerging, you can always bet with Mastercard or bet with Visa, if that’s what you’re comfortable with.

The flip-side to this is that all transactions must pass through your account, extending the withdrawal time for debit cards, as they can only be processed on working days.

The main benefit of a paysafecard is that it limits the funds available to whatever you have put on the card. You also don’t need to input any of your banking details into the online sportsbook, reducing the risk of having your data exposed online.

There are many places to buy a paysafecard, but you are required to pay in cash for the voucher. The main disadvantage is the one-way system, preventing you from using the paysafecard as one of the online gambling withdrawal options.

There are several benefits to using PayPal as one of your gambling sites deposit options. This includes the straightforward interface, with which many users will already be familiar. In addition, you can enjoy quick withdrawals as well as the reputable security that PayPal provides when making online payments.

While PayPal is increasingly common as a gambling site deposit option, it’s still not supported as widely as you might expect. Generally, PayPal should reimburse you when the other party fails to deliver, but recent changes mean that this rule doesn’t apply for betting payments.

Venmo is one of the most straightforward payment options and doesn’t incur fees when making payments, however, as with PayPal, not all online sportsbooks will offer Venmo as one of their online gambling withdrawal options.

Ways to Make a Deposit

The vast majority of gambling sites deposit options are completely secure and reliable, and the methods mentioned here are the most popular options for transacting betting deposits and withdrawals.

Top sportsbook providers will ensure that all their online gambling withdrawal options are secure. Data will be protected further using SSL encryption or similar software. All fully-licensed online sportsbooks will operate under strict regulatory control. This includes having reliable payment methods that are tested and known to be safe.

The reputations of the betting payment methods mentioned here are all positive. PayPal, Venmo, and paysafecard are all well-known companies that take their status seriously. All data processed by these companies will remain secure. If you’re always on the go, you might want to bet with pay by mobile or bet with Apple Pay.

Payment Method FAQ’s

Do I need to use the same method for deposit and withdrawal?

In general, sportsbooks will process withdrawals using the same payment method used for the deposit. However, not all gambling site deposit options are supported for withdrawals. In these cases, the website will ask you to provide an alternative payment provider as your preferred withdrawal method.

How do I deposit funds into my account?

For many online sportsbooks, depositing money is very simple. You will need to go into your account and follow the link to deposit. You will then be asked to select from the gambling site’s deposit options. Once you have chosen an option and filled in your details, you will be able to select the amount that you wish to deposit.

Is there a minimum and maximum deposit?

This will vary between online sportsbooks, but most will have limits. These amounts will also depend on which of the online gambling withdrawal options you choose. The deposit limits are quite generous, so it’s not a problem for most players. If you do wish to deposit more than the threshold, some providers will be flexible. Get in touch with the customer support for the site and see if they can help you out.

Why has my deposit not been accepted?

If your funds are not credited to your account, there could be a few reasons for this. The first thing to do is double-check the available funds for the option you’re using. If that’s not the issue, you can message the site’s customer support, and they should be able to tell you what the problem is.

Can I get a welcome bonus for my payment method?

Some online sportsbooks may have exceptions for certain gambling site deposit options concerning the welcome offer. Debit cards such as VISA or MasterCard are the most common option and are generally eligible for deposit offers. The less-used payment options such as paysafecard, PayPal, or Venmo, may be excluded from some deposit offers. It’s worth checking the terms and conditions on the particular sportsbook site you’re using.

Tips for Secure Betting Transactions

These days, it’s rare to experience problems when making online betting payments, but there are still a few things to watch when you bet with debit cards and make payments online. Ultimately, it’s up to you to be careful where you share your data, but the following tips can help keep your money safe when making betting deposits and withdrawals.

  • Make sure that the company you are betting with is properly licensed. If a company does not have a gambling license, then do not deposit with them. It’s as simple as that. Online sportsbooks have to operate in accordance with strict data protection regulations to gain a license.
  • Check that they have been in business for several years while maintaining a good reputation. If they have managed to sustain a positive brand-image after many years of business, they should be reliable.
  • Read customer reviews. Find out what issues other users have had with the site. This will give you a good idea of what to expect and how you might be dealt with.

Our Expert Conclusion

All of the payment options mentioned here are reliable and secure. The companies that provide payment services, including paysafecard, PayPal, and Venmo, all have solid reputations and the trust of their customers. They have built their solid reputations over many years of providing and innovating banking and payment services for the internet era.

The main variation between the payment methods will be limits placed on particular online gambling withdrawal options. For example, you cannot use paysafecard for withdrawals, and requests through PayPal or Venmo may incur extra charges at some casinos.

Whichever sportsbook you’re visiting, it’s best to check all the conditions for the betting payment method that you prefer. We’ve got guides on online casinos that use debit cards and online casinos that use credit cards if you’re looking for an in-depth review of providers.

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