Best Sites for Sports Betting Payments 2024
Always check sports betting payment options at any online sportsbook you join. While the number of sports on offer, the promotions, the odds, etc. are good to know, banking options are possibly the most important. Our guide breaks down the differences between each type of payment so you can deposit and withdraw with ease.
The Best Sites for Sports Betting Payment Options
| US Online Sportsbook | Accepted Payment Methods | Welcome Bonus | Bonus Code | Visit Site |
|---|---|---|---|---|
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BTC, AVAX, BNB, BCH, ADA, DOGE, ETH, LTC, MATIC, XRP, SHIB, SOL, XLM, USDT, TRX, USDC, MasterCard, American Express, Visa, Discover, P2P, Money Orders, Bank Wire Transfers, Check | Up to $250 in Free Bets + 100 Free Spins | FREE250 | Play Now |
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BTC, BNB, LTC, ETH, XRP, DOGE, SOL, USDT, USDC, Visa, MasterCard, PayPal, Neosurf, Flexepin | 125% Deposit Boost up to $1,250 | N/A | Play Now |
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BTC, BCH, BSV, ETH, LTC, USDT, Visa, MasterCard, MatchPay | 75% Crypto Deposit Bonus up to $750 | BTCSWB750 | Play Now |
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BTC, BCH, Visa, MasterCard, AmericanExpress, P2P | Up to 200% in Welcome Bonuses | CRYPTO200 | Play Now |
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BTC, BCH, LTC, Visa, MasterCard, AMEX, Discover, BetterEFT, Payz, Neosurf, Paysafe, eZeeWallet, Instant Bank Transfer | Up to $500 Welcome Bonus | WELCOME500 | Play Now |
The Best Online Betting Banking Options in December 2024
As you can see from the list above, there are plenty of options for sports betting payments at all of the best sportsbooks. They accept so many variations to cater to more players, however, not all banking methods are as good as each other. The most common and secure online betting banking options are the ones we’ve listed below.
🪙 Cryptocurrency
The best online sportsbooks accept multiple cryptocurrencies as standard deposit and withdrawal options. Cryptocurrency payment is most popular among offshore sites, allowing for quick transfers (Ripple takes just 4 seconds), with more security, and lower fees than traditional payment methods.
If you’ve never used crypto before, don’t worry, the process is fairly straightforward. You first need to set up a crypto wallet and purchase a currency that’s accepted at your chosen sportsbook. Visit the site you want to wager on, follow the deposit steps, and you’ll get a wallet address to send funds to. Use this address to transfer your crypto into your sportsbook account.
Once you’ve made the deposit, the funds will appear in your account almost instantly. We recommend sticking to some of the bigger cryptocurrencies to ensure compatibility with multiple sportsbooks. Bitcoin, Ethereum, Litecoin, and Bitcoin Cash are widely accepted, but Solana, Ripple, and Tether are also great picks.
Pros
- Fast transaction speed
- Low fees and no banking restrictions
- Bigger and more tailored bonuses
- Greater privacy than fiat options
Cons
- Lots of volatility so the value fluctuates
- Irreversible transfers if something goes wrong
💳 Credit Cards and Debit Cards
Possibly the most familiar of all online betting banking methods, credit cards, and debit cards through Visa, Mastercard, and American Express are accepted at most sportsbooks.
Convenient, easy to use, with near-instant deposits, and good levels of security, they are a solid way to make transactions when gambling. The major networks are established, and have a solid background in anti-money laundering and fraud protections, giving you peace of mind.
However, there are some issues for credit card users as some banks may charge fees, limit your deposits based on your credit history, and withdrawals aren’t offered by many sites.
Debit card withdrawals can also be on the slow side, with a 1 – 5 business day wait time not unheard of. Some regions and banks might also not allow gambling transactions through credit and debit card transactions.
That said, they are one of the bookmaker’s payment methods of choice and are a mainstay for their reliability and stable processes.
Pros
- Widely accepted at most online sportsbooks
- You probably already have an account of some type
- Strong AML, fraud, and security protections
- A familiar system for depositing funds
Cons
- Individual banks might limit your spending
- Some jurisdictions limit credit card gambling transactions
- Fees might be applied to transactions
💵 E-Wallets
If you like a solid combination of speed and security but aren’t quite ready to make the move to crypto gambling, E-Wallets might be the option for you.
Providing a buffer zone to keep your bank details and betting account more separate than simply using a credit or debit card, there’s more privacy and security as a result. They also offer much quicker transfer speeds, with instant deposits and withdrawal speeds of less than 24 hours in most cases.
The only problem we’ve found with E-Wallets is that PayPal aside, there isn’t much consistency between sportsbooks as to what they accept. Skrill and Neteller are commonly offered, but if you like to keep one E-Wallet and use it across multiple sites, PayPal is currently the only real option. That’s fine if you like PayPal, but if you don’t want to be tied down to their service then you might need multiple E-Wallets for different sportsbooks.
That aside, if you want quick transactions with a decent amount of gambling anonymity, E-Wallets are a solid choice.
Pros
- Near-instant deposits
- Withdrawals processed within 24 hours
- Encrypted data for secure transactions
- Good intermediary between the bettor and the bookie
Cons
- Few widely accepted except PayPal, Skrill, and Neteller
- More steps than other payment methods
🏦 Bank Transfers
Another great way to make sports betting payments, bank transfers give you the security of moving money with high-level encryption provided by financial institutions.
Getting started with bank transfers is straightforward. Set up the online bookmaker you want to use as a payee in your bank account. Get a reference number and other required details from the sportsbook you want to use, and make the transfer.
While the process is simple, the downside is the length of time transactions can take. If you’re using an international site, transfers can take up to 10 business days, which isn’t ideal. It’s possible to use instant bank transfers at some online sportsbooks, but it’s not industry standard yet.
In general, if you’re happy to wait for funds to move around then bank transfers are one of the most secure online betting deposit methods around. Just don’t expect to be up and running with a topped-up account straight away.
Pros
- Great levels of transaction security
- Often free to do, though check with your bank
- Simple payment method to use
- Withdrawals are straightforward
Cons
- Restrictions might apply in some countries
- It can be a slow way to deposit and withdraw
Popular Deposit and Withdrawal Options at Online Sportsbooks
There are a wide range of payment methods at betting sites, so many that listing them all wouldn’t help you that much. Instead, we’ve taken a look at some of the most commonly used banking options used by sportsbooks and compared whether they are used for deposits, withdrawals, or both, at popular sites.
If you’re interested in one of our recommended sportsbooks, we’d suggest checking which methods are accepted via our reviews, or by visiting the sites through the links listed above.
| Banking Method | Deposits Available | Withdrawals Available |
|---|---|---|
| Cryptocurrencies (BTC, ETH, LTC, etc.) | ✅ | ✅ |
| Debit Cards | ✅ | ✅ |
| Credit Cards | ✅ | ❌ |
| MasterCard | ✅ | ❌ |
| American Express | ✅ | ❌ |
| Discover | ✅ | ❌ |
| Apple Pay | ✅ | ❌ |
| Google Pay | ✅ | ❌ |
| Venmo | ✅ | ✅ |
| Skrill | ✅ | ✅ |
| PayPal | ✅ | ✅ |
| Play+ | ✅ | ✅ |
| eCheck | ✅ | ✅ |
| Check | ❌ | ✅ |
| ACH Online Banking | ✅ | ✅ |
| PayNearMe | ✅ | ❌ |
| Gift Cards | ✅ | ❌ |
| Bank Wire Transfer | ✅ | ❌ |
If you’re depositing funds at a site that doesn’t let you withdraw money in the same way, you’ll need to use an alternative withdrawal method. This might mean an extra layer of verification checks, longer processing times, or fees you weren’t expecting to pay.
Withdrawal Speeds for Different Payment Methods
It is important to pick your payment method carefully because most sites want you to withdraw the same way you deposit. Each option has a different withdrawal speed, so remember the information below when picking your payment option.
| Sportsbook Payment Method | Type of Payment | Average Withdrawal Times |
|---|---|---|
| BTC, ETH, LTE, SOL, XRP, etc. | Cryptocurrency | Instant |
| PayPal, Skrill, Neteller, etc. | E-Wallet | 2-24 Hours |
| Debit Cards | Bank Card | 1-5 Days |
| ACH Transfer | eCheck | 3-5 Days |
| Wire Transfer | Bank Transfer | 3-7 Days |
| Check | Written Order | 7-14 Days |
How to Choose the Best Payment Method For You
When making online sports betting payments you should pick one that meets your needs. These won’t be the same for everyone, with some wanting extra security while others might just want speed. Not all payment options are created equal, so it is important to think about the following factors before you get started:
✅ Security
Always consider how secure a payment method is before you use it. Think about the levels of encryption involved, what fraud protections are in place, and whether there’s the potential for a hack to occur. In general, check that your bookmakers’ deposit methods includes one you are familiar with and have used before.
✅ Processing times
Transaction speeds can vary wildly when making sports betting payments. Check the table above for more details, but as a general rule if you want the quickest speeds it’s best to use a reliable crypto like Bitcoin.
✅ Fees
The payment method you use might mean paying processing fees. Always check your chosen sportsbook for any charges you might incur for your preferred banking method. You run the biggest risk of fees with credit cards and international wire transfers.
✅ Availability
Picking a deposit and withdrawal method available at multiple sites means you won’t have to worry about managing multiple accounts when making transactions. If you pick Bitcoin, for example, you’ll generally be covered wherever you play, and only need to use one wallet and cryptocurrency to keep any sports betting account topped up.
✅ Limits
Different payment methods have different deposit and withdrawal limits. Always check the terms and conditions or banking options pages of the sportsbook you want to use to find their exact policies.
✅ Privacy
In general, if you’re looking for the most private ways to gamble you should look at the newer digital options. E-Wallets and cryptocurrency are excellent for creating distance between betting sites and your confidential information.
✅ Ease of use
Online betting sites that accept debit cards, credit cards, and cryptocurrency are generally the easiest to use. They often provide simple deposit and withdrawal processes which are standard across most online transactions.
✅ Reliability
Generally, more traditional banking methods like debit card transactions are the most reliable. Newer technologies can make things easier, or offer improvements in some areas, but might need downtime for software updates or have bugs that need patching for security reasons.
✅ Exchange rates
If you’re gambling internationally then exchange rates are something to consider. Credit cards handle them well, but usually rack up big fees. In general, it’s best to stick to wire transfers and digital currencies like crypto in this instance.
Security Features of the Best Betting Payment Methods
When it comes to sports betting payments, it’s important to take security seriously. Each payment methods use different techniques to keep your data safe. When picking a deposit and withdrawal method, look out for these security features:
- Encryption – Most secure payment options use high levels of encryption to ensure your data is kept safe during each transaction. The best will use either 128-bit or 256-bit SSL (Secure Socket Layer) encryption to make it as difficult as possible for potential hackers.
- 2FA (Two Factor Authentication) – 2FA is an increasingly popular way for companies and banks to ensure transactions are legitimate and verified by account holders. You might need to download an app, or click an email, and enter a code to confirm you are making a transfer.
- Fraud Detection Systems – Thanks to ever-improving AI technology, sports betting payments are commonly subjected to advanced fraud detection systems. They monitor transactions in real time to see if there’s any unusual activity on an account, flagging them for review if needed.
- Separated bank details – One of the great things about using E-Wallets to gamble is that they essentially become an intermediary between you and your online bookie. You never share your bank details with the sportsbook, instead, your money goes to the E-Wallet which in turn interacts with the gambling site. It’s a simple but effective way to protect your financial information.
- Anonymity – If you want to enjoy a more anonymous gambling experience cryptocurrencies like Bitcoin are a great option. You don’t need to share personal information with the sportsbook, there’s no bank involvement which makes it hard to trace, and there are strong encryption methods in place. You could also use prepaid cards, but they aren’t a great option for withdrawals.
How to Deposit & Withdraw at Online Sportsbooks
You’ve chosen your method, now it’s time to deposit. Deposit processes might vary, but as an example, we will show you how to deposit at BetNow. The process should be similar, if not identical, regardless of payment method.
Step 1 – Create an account
Navigate to the registration form and complete all the required fields. Check you’ve added the correct email address and mobile number in case you need to verify your account.
Step 2 – Click the deposit button
Once your account is ready, return to the betting site. Find the button that links to the sportsbook deposit page and click on it.
Step 3 – Select your currency and amount
Choose from the list of available sports betting payments and click to deposit. Provide any details required when completing this step to ensure transfers are successful.
Step 4 – Claim your bonus and play
Ensure you’ve claimed and earned the welcome bonus for your chosen sportsbook. Once the money is in your account you can find a sport or event that interests you and place your first bet.
Conclusion
After reviewing some of the most popular payment processing options at online sportsbooks you should have a good idea of what will work best for you. If you’re looking for speed and security, cryptocurrency and E-Wallets are great options. If you’d rather rely on traditional methods and don’t mind waiting, debit cards are a solid option.
Whatever you decide, always check whether your preferred payment method is available at the sites you’re considering joining. It’s also worth looking into the details, as some sites might charge fees while others don’t.
If you’ve found a payment method but aren’t sure where to play, we recommend BetOnline. They accept multiple deposit and withdrawal options, giving you more flexibility than most online bookies. They are also one of our best-reviewed sportsbooks, giving you a top-quality betting experience however you like to transfer funds.
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