Online Sports Betting Deposits For U.S. Players
When you join an online sports betting site, you need a way to deposit cash to your player account. Registering for an account is just the first step towards participating in online sports betting--without cash to bet with, your membership is little more than free access to betting lines. Americans have trouble depositing to online sports betting sites because of the 2006 UIGEA bill that limited how US financial institutions could do business with casino and sports gambling sites. What that means is that American sports bettors are limited in terms of how they can legally deposit to their sports betting site.
No, it is not illegal for U.S. residents to make online sports betting deposits. As we mentioned earlier, the UIGEA does affect sports betting deposits and makes it illegal to electronically process gambling transactions but what you should know is that it is not illegal for the sports bettor... only the financial institutions that allow these to happen. Because of that, you can run into trouble using credit cards and methods like that however if it does work, you are welcome to use it. In fact, you'd better keep on using it because banks do eventually catch on and from one day to the next, a sportsbook's credit card processor might not work. So, if you get it to work, take advantage of the situation.
Related Pages: U.S. Payout Methods For Online Sports Betting
Let's take a look at the most popular deposit methods used around the world for putting money in a player account at a legal sportsbook on the Internet. Some of these methods will work for US gamblers, some won't. Take a look at each and decide for yourself which is your best option.
Credit Cards - Credit cards are among the most convenient ways of making deposits to online sports betting ventures. Using a credit card to add money to your account works like any other credit card purchase. People use credit cards to make these deposits because they're convenient. Unfortunately, thanks to the UIGEA law in 2006, most Americans find that they have trouble making a simple credit card deposit.
- VISA - Using your VISA card to deposit to a sports betting site is probably impossible in the USA. That's because VISA announced recently that they won't allow their American or Canadian customers to make deposits to know gambling sites using their VISA cards.
- Mastercard - Mastercard didn't go as far as VISA--they never announced specifically that their customers can't use one of their cards to make a sports betting deposit. However, Americans report having trouble using this deposit method, and it is rare that a US sports bettor can use his Mastercard to add funds to his account.
- American Express - Like VISA and Mastercard, US bettors who wish to use their American Express card may find themselves blocked thanks to sports betting laws in the United States. However, a handful of American sports gambling enthusiasts say they've been able to use AmEx cards to make sportsbook deposits, so it's worth a shot.
eWallets - eWallets are like middle men between your traditional bank account and any number of online retailers. The eWallet most people are familiar with is PayPal, the worldwide eWallet service that has the most active customers. eWallets usually charge small fees to make deposits to gambling sites, but many of them do allow US players to do business with sportsbooks on the Internet.
MyPaylinQ - MyPaylinQ is one of the many eWallets that allow Americans to use the service to deposit to sports betting websites taking USA players. MyPaylinQ is also known for charging among the lowest fees in the business. MyPaylinQ works like this--you connect your bank account to your MyPaylinQ account, then use MyPaylinQ to transfer those funds to the sportsbook of your choice. All the sportsbooks on our site allow MyPaylinQ deposits.
Wire Transfers - Wire transfers are familiar to most people. Kiosks for various brands of wire transfers can be found all over the US, at retail stores, gas stations, and in shopping malls. The fees are a little higher than with eWallets, but these deposits usually appear instantly at your sportsbook account. Some sportsbooks also offer special bonuses for use of various wire transfer methods, and most US customers find wire transfers to sportsbooks work without any hiccups.
Prepaid Cards - One loophole around the ban on credit cards for depositing to your sportsbook account is the use of prepaid cards, branded by VISA, Mastercard, and other major credit card companies. Often, these prepaid cards can be used to make legal sportsbook deposits, since they work differently than traditional credit cards, and don't come under the scope of the UIGEA. You can buy prepaid cards at almost any major retailer in the country, load it with a specific amount of money, then use the card like a debit or credit card to deposit cash to your player account.
Checks by Mail / Cashier's Checks / Money Orders - If all else fails, you can almost always send a check through the mail to load funds to your sportsbook of choice. Cashier's checks, bank checks, money order, and even (in some cases) personal checks are acceptable means of depositing to player accounts. The downside to sending a check through the mail to fund your online sports betting hobby is the time it takes for the site to receive and process the check--this process can take as long as a month. Still, if all of the above methods fail, sending in a check may be an Americans only way to make a legal sportsbook deposit.
Bovada.lv was created by Bodog to do business with North American customers, after Bodog left the US market following the passage of the UIGEA. Bovada's deposit methods for Americans are limited. As of this writing, only prepaid VISA cards, certain eWallets, and a wire system called Rapid Transfer are available to Americans who want to add cash to their Bovada sportsbook account. Bovada is designed specifically for US players, and it is by far our most highly recommended sports gambling site for Americans who want to bet on NFL, NBA, MLB, or any other major sporting event.
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Unlike Bovada, BetOnline isn't built for American sportsbook customers only, but is aimed at the world market. That means they use many deposit methods that Americans don't have access to. If you live in the US and want to bet on sports through BetOnline, you can take your pick of the following deposit methods: Visa Credit Cards & Prepaid Cards, Wire transfers, Check by mail or courier (FedEx, UPS, DHL, etc...) All of these methods are reliable for bettors in the United States which is half the battle... now you just need to win your bets.
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