Mobile and online sportsbooks are legal in about half of the United States. Players living in Arizona, Arkansas, Colorado, Connecticut, Delaware, Illinois, Indiana, Iowa, Kentucky, Louisiana, Michigan, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, Tennessee, Virginia, West Virginia and Wyoming may place a bet legally on their phone or computer through a licensed online sportsbook.
Since sportsbooks in these states are legal, standard deposit options are available. This includes credit cards, debit cards, electronic wallets, bank transfers and bill pay services.
Unlicensed sites located offshore do not legally accept any of these methods. Most transactions related to those sites are done through cryptocurrency like Bitcoin. Legal online sportsbooks do not accept cryptocurrency. This is better for players as there is no chance that their deposits and withdrawals will lose value during processing due to fluctuating markets.
Before depositing, you will need to create an account. This is a simple process that asks for your name, address, email, date of birth and last four digits of your Social Security Number. Once this is completed, site security will verify your identity with it. This ensures that identity fraud has not occurred, and that the player is old enough and eligible to bet.
After this, it is time to make a deposit. You must be 21 years old in most jurisdictions. The minimum age in New Hampshire and Wyoming is 18. It is 19 in Washington DC.
Online sportsbook deposit options
There are several ways to make a deposit at a legal mobile or online sportsbook. This section details each common available option.
Credit and debit cards
Credit cards and debit cards are among the most popular deposit options at legal online sportsbooks. Visa, Mastercard and Discover are all accepted. American Express is typically not an online or mobile sportsbook deposit option due to company policy.
When processed as a credit card, the transaction may be posted as a cash advance. If this occurs, there are fees involved and interest starts to accrue immediately.
Debit card transactions are simpler. The funds are taken directly out of the associated bank account. There are no additional fees unless your bank charges for debit card transactions, which is rare.
Play+ prepaid debit card
The Play+ prepaid debit card is operated by Discover. It sometimes uses the branding of the partner sportsbook. For example, the FanDuel sportsbook prepaid debit card is really Play+ with a different name. It may be funded through your bank account or by credit and debit cards like Discover. An ATM card is supplied upon request. This is used for online sportsbook withdrawals.
PayPal
PayPal started out as the electronic wallet for eBay. It branched out into the offshore online gaming business in the early 2000’s, only to leave that market abruptly due to its questionable legality at the time. These days, PayPal is completely legal to use with licensed sportsbooks and online casinos.
PayPal accounts may be funded in several ways. You may use money sent to you by somebody. A credit or debit card may be used. You can also connect it to a bank account. There is a charge for using credit cards to deposit into your PayPal account.
Skrill
Skrill is an electronic wallet that has been used in the online gaming industry for more than a decade. It was once called Moneybookers. It is available through a partnership with Neteller.
A Skrill account may be funded using credit cards, debit cards, and a bank account. Credit card deposits may be processed as a cash advance and incur fees and interest.
PayNearMe
If you are hoping to deposit cash into your online sportsbook account, PayNearMe may be your best option. BetMGM, Caesars, and FanDuel are among the online gaming companies that accept PayNearMe as a deposit option.
There are more than 40,000 PayNearMe locations in the United States. These are found at stores like 7-Eleven, CVS, Walmart and Walgreens. Find the merchant information in your online gaming deposit screen. Take that and cash to one of these locations. Your deposit will likely be processed before you are home from the store.
Bank transfers
There are several ways to transfer funds from your bank to your online sportsbook account. This includes electronic checks, bank wires, and online bill pay. Electronic checks require you to give the online sportsbook your routing and account numbers. You will need to get this information related to the online sportsbook to send a bank wire. The sender of a bank wire may incur a small fee. Electronic checks are usually free.
Online bill pay will ask for the payee. If your preferred gaming site is part of the bank’s group of payees, you can pay it in the same way that you would pay a utility bill.
Cash at casino cage or sportsbook
Some states require online sportsbooks to offer a cash deposit option at its partner casino. In some other states, companies choose to do this voluntarily. When available, cash deposits are accepted at the sportsbook counter, casino cage or kiosk. You will need your account number and a valid photo ID to make a cash deposit at a casino.
Sometimes you don’t need to deposit
There are some online gaming offers that allow players to play for real money without making a deposit. It may tie a sportsbook offer to a related casino one, like free spins. These are called no deposit offers. In these cases, players are awarded some free chips. If there are any winnings, a deposit is typically required before a withdrawal will be processed.
Only deposit what you can afford
Online sports betting is a form of entertainment. Money deposited for it should be treated as any optional expenditure. Ensure that you can afford to lose your deposit. You might win, and the deposit may last a year. However, never use money needed for necessities on gambling. Read more in our problem gambling guide.
Last Updated on August 1, 2023 by John Mehaffey