When choosing an online sportsbook, it is important to consider the various deposit methods each site has to offer. Obviously, the more options a site has the better. Not all online sportsbooks deliver in the deposit department, but there are a handful of great internet betting sites that have a long list of funding methods. This page will give you all the information you need concerning the legality and safety of sportsbook deposits, as well as the best and most popular deposit methods. We will discuss fees, minimums, maximums, and deposit bonuses. We will even talk about some stellar online sportsbooks that offer the longest list of deposit methods around.
Yes, it is legal for Americans to make deposits with legal American online sportsbooks. However, there are several major sports betting laws in place that regulate deposits. The first is the Wire Act, passed in 1961. This law regulates the transfer of money and wager-related information from state to state. The Unlawful Internet Gambling Enforcement Act (UIGEA) regulates money transfers, mostly sportsbook payouts. Because of these laws, American online sportsbooks must function outside of the United States in order to be lawful. Overseas betting sites are exempt from laws that prevent sportsbooks from operating within US boundaries.
Are American Online Sportsbook Deposits Safe?
Yes, American online sportsbooks are safe. High-tech safety and security software makes it so other people cannot access your account. The two major types of security software are encryption and firewalls. Encryption has to do with taking the site information and transforming it into complex lines of algorithmic code. This makes it nearly impossible to decipher without a code key. Firewalls are used for monitoring all traffic into and out of the site. Aside from these two features, safe American online sportsbooks are always licensed and regulated for security purposes. Since the sites that we vouch for have been around for such a long time, you can trust that they are legit.
Some of the lesser online sports betting sites only offer a few deposit methods. The ones that we suggest, however, offer a who’s who of great funding options. We have made sure that each of these sites functions legally and uses the latest in security and safety technology. Trustworthiness is a key element in an online betting site, and these sites have it in spades. So, without further ado, here are some of the top-tier sportsbooks on the web.
Bovada is one site that has a reputation for excellence in the world of online sportsbooks. This reputation has been built up over two decades of providing customers with the very best in online sports betting. Bovada shows no sign of slowing down any time soon. Their membership is in the millions, and those numbers include players from all over the United States and throughout the world. One of the reasons the site has proven to be successful is that they take safety and security very seriously.
When you sign up with Bovada, you know they are going to treat you right. You will never have to worry about waiting too long for your money, and you can trust that your account will not get hacked. That’s because Bovada has a great security team and many features that protect you and your account from molestation. For example, any unauthorized user trying to get into Bovada’s accounts system will not be able to make sense of anything, because it’s all transferred into long lines of digital code. This is what is known as encryption. Because of firewalls, which monitor site traffic, there is always a watchful eye being kept on the site. Signing up with Bovada has never been safer than it is right at this moment.
When SportsBetting.ag first started in 1991, it was a fledgling site hoping to capitalize on the growing popularity of the online gaming industry. 25 years later, it is a force to be reckoned with. It counts millions of players as site members, and it pays out millions of dollars in winnings. You can rest easy, because whenever funds are transferred to and from your account, they travel over a secure, encrypted server that cannot be viewed by outside parties.
Encryption is merely one of the safety features used by SportsBetting to ensure the security of its members. Firewalls are utilized to monitor all incoming and outgoing site traffic. Password protection ensures that only you can access your account. The sites’ team of ace security experts spends hours upon hours testing the system for bugs, viruses and other security breaches. In fact, during SportsBetting’s 25-years run, not one of its customers has ever had their personal data compromised. So you can breathe a sigh of relief in knowing that when you sign up with SportsBetting.ag, you are in the best of hands.
Making a deposit is the first thing you do after signing up for an account. No matter what sportsbook you use, the process is pretty much the same. At the top of the page, you will find a tab most likely marked “online cashier” or “funding methods.” Clicking on this tab will bring up a list of available options. You can click on each method to find out more. Rules, regulations, limits and fees vary depending not only on the method, but also on the site you are using. With so many options available, we are sure that you will able to find the perfect method to meet your wagering needs.
What Are Some Of The Most Popular Deposit Methods?
The most popular deposit method bar none is credit/debit card. These days, everyone has a credit or debit card. They are very convenient, and they are very fast. It takes but a few seconds to transfer money to your account via credit card. Another popular deposit method is called cash wire transfer, but it is known more familiarly as Western Union or MoneyGram. The usual waiting time for deposits to go through is between 12 and 36 hours. Finally, money orders take a bit longer (but no more than one week), but usually don’t have a maximum. They are ideal for those folks who are depositing a large chunk of change.
Other Deposit Methods
Less popular, but no less convenient and trustworthy deposit methods include gift cards and Bitcoin. You can pick up an Amazon gift card or a Walmart gift card at an appropriate retail store. The Walmart gift card is great because you can put any amount on it, and you don’t have to worry about fees. Bitcoin is a great deposit method for those tech-savvy folks who conduct most of their business online. Bitcoin is a type of electronic or “e-currency,” but it works just like cash. Once you set up a Bitcoin account, you can freely make deposits and payouts. Not all sites offer Bitcoin, so make sure to check the site to see if it is available.
Are There Minimum and Maximum Deposit Amounts?
Yes, each method has its own minimum and maximum deposit amount. It also depends on what site you are using. The minimums and maximums for credit/debit cards can be anywhere from $25 to $3,500. For cash wire transfers/MoneyGram/Western Union, the min/max amounts are usually somewhere between $50 and $1,000. For money orders, it is around $50/$970. The min/max for Amazon gift cards is $50/$200. Walmart gift cards do not have a minimum or a maximum. For Bitcoin, it can be anywhere between $20 and $3,500.
Are There Extra Fees?
Yes, depending on what method you use, there could be fees. For example, some sites do not list any extra fees, and some sites have fees between four and six percent. For Western Union/MoneyGram, the standard fee is about two percent, although this fee is waived for deposits of $300 or more. On some sites, there are courier fees if your deposit is less than $300, but then again, some sites do not list any fees at all. The best thing for you to do would be to go to the funding methods section of the site and check to see what the fees are.
Yes, pretty much every online sportsbook worth a darn is going to have deposit bonuses available. When you sign up, you will be eligible for a welcome bonus from anywhere between 25 and 50 percent. The welcome bonus is offered as a reward for joining. Frequent players have the chance to use a reload bonus, which gives you a percentage off each of your bets. This is a lifetime bonus, and the more you bet, the more you save. If you want to claim a bonus, find the right promo code and send it to the site so they know you want to participate in the program. Most bonuses include rollover requirements. This stipulates that you first have to spend usually between five and ten times the amount of your bonus and your deposit combined.