Best Banking Options for Online Sportsbooks in 2018

When it comes to gambling online, there is only one possible way to fund your adventure, and that’s by depositing money.

When it comes to depositing money at online sportsbooks, there are multiple ways to facilitate the transaction. These are known as deposit methods.

Now that we got all the fundamentals out of the way, let’s talk about some of the most popular deposit methods that exist in today’s Internet sportsbook world.

Deposit Methods

There is such a large list of deposit methods that work for online sportsbooks that we believe there is a method out there for everyone. There are even some options for those who do not have a bank account!

Once you find the method that you believe is going to work for you, be sure to check out the full review by clicking on the button below each description. This way, you can do some further research to be sure that the specific method you have your eye on is really going to be the best option that you can find.

Credit Cards

We figured we might as well kick off the list with the most popular and widespread deposit option that exists worldwide, credit cards.

If you have not heard of Visa, we would like you to take a visit outside of the cave you have been hibernating in for the last six decades.

For those who really are unaware, this deposit option features a plastic card that is either connected to a bank account, or has a certain amount of credit already built into it. All you will need to do is enter your card information and you will be gambling in no time!

It’s only right to talk about Visa’s sister payment method next, Mastercard. The two are grouped together more often than peas and carrots. The difference between these two are minimal, and it probably does not make a difference if you use one or the other.

However, the rewards for using each card are determined by the card issuer and not by the payment network. This means that we are better off paying attention to the specific terms and rewards offered rather than whether the card is Visa or MasterCard.
Credit Card Sites*

The main similarity between MasterCard and Visa is that they both feature plastic cards with 16 numbers on them. Once you enter these numbers into your sportsbook cashier, you should be ready to gamble instantly.

Bitcoin

Looking for a deposit option that is both reliable and anonymous? Well then, bitcoin is the option for you! Bitcoin is becoming extremely popular with online sportsbooks, and the deposit bonuses are usually massive!

They are also a gamble in and of themselves, since their worth is constantly moving up and down. This can be fun for those looking to take extra risks in exchange for anonymity and convenience. If possible, we prefer to use this method whenever we gamble online.

Bitcoin Betting Sites

Check by Mail

This method is extremely outdated, but it is still an option for some online sportsbooks. The reason that they are outdated is that this is a much slower process than doing an online payment. These checks can sometimes take weeks to be processed while an online payment option is instant.

However, if your bank is blocking gambling transactions and you have already exhausted all the other possible methods, a check by mail could be the option for you. Also, those players who do not have e-wallets or plastic cards will be happy to know that this method is available!

Bank Wire

Bank Wires are mostly used for withdrawals, but they can be used to deposit on some online sportsbooks as well. For those who are not a huge fan of used e-wallets or plastic cards, bank wires can be an easy way to deposit money.

This method is also preferable for high stakes players since large amounts of money can be transferred securely. There are not many options that will permit large transactions and still be extremely safe at the same time.

E-Wallets

Skrill is an extremely popular e-wallet that is available at nearly every online sportsbook in the world. They are accepted in over 200 countries and support 40 different currencies.

Their flexibility is impressive, but so is their ability to give out pre-paid MasterCards that are connected to your Skrill account. This top-level convenience enables you to get your money out of an ATM at any time you like, for a small fee. Depositing onto Skrill is as easy as can be if you have a bank account, or you can just buy some funds off a friend who already has money on there.

If you are an Internet poker player, you might recognize the Neteller deposit option. They used to facilitate online poker banking transactions for U.S. players up until the UIGEA ruling in 2006.

This e-wallet is still a great option for the rest of the world to fund online gambling accounts to this day. They are known for their extensive security measures and extremely fast transaction times.

We recommend this payment option for anyone that has access to it because they also feature a debit card that can be used at any ATM to take your money out of the e-wallet. The fees are minimal for this convenience and it is much better than waiting to receive a withdrawal.

E-Wallet Sites*

PayPal

Paypal is an e-wallet much like Skrill, Neteller and ecoPayz, which we will talk about later. The difference is that PayPal does not offer a VIP program and their customer service is known to be a little shaky at times. They are also not offered by most online gambling providers like their e-wallet counterparts are.

However, when it comes to facilitating online gambling transactions, PayPal does the trick instantly and without fees. The only time a fee is incurred is if you try to convert currencies or if you try to use a credit card to transfer money into your PayPal account.

The best feature of PayPal is that once you connect a bank account to your account, they will transfer your balance to your bank for a small fee of $0.25. This transfer is done within a shocking 30 minutes, which dominates any other option in the industry

PayPal Sites

Instant eCheck

Echeck is one of the most secure deposit methods that you can possibly find. They feature digital fingerprints and a tracking feature to help to maintain this high level of security.

Echeck is also very popular and can be found in nearly every online sportsbook. It is just like writing checks, except it’s digital. There are much lower wait times involved with this method compared to writing checks and mailing them, so if paying with checks is your thing, you should give this method a shot.

Instadebit

Instadebit is one of the top options for funding an online sportsbook account for players from Canada. They can be found in most sportsbooks, and they are known to be a fast and secure banking method.

The transactions are free, and you can connect your Instadebit account to your bank account at any time. We recommend taking a few minutes to setup an INSTAaccount so that you will be eligible to hit some giant jackpots during your gambling escapades.

Western Union

If you are looking for an easy way to deposit using only cash, Western Union is a great choice. All you need to do is find a location that offers Western Union transactions. Luckily, there are tons of them in nearly every major city, and you can find them with a simple Google search.

Once you find an active Western Union location, you simply need to send the money to the sportsbook. To get the information on where to send the money, just start the deposit in your sportsbook account’s cashier and they will provide you the exact name and location to send the money. Within 30 minutes after sending the funds, you will be gambling online with your cash!

Zimpler

Zimpler is a simple and mobile-friendly payment option for online gamblers from Sweden and Finland. It was founded in 2016, which makes them one of the youngest payment options on our list. However, the company’s name used to be PugglePay, which was started in 2012.

This payment option caters specifically to gamblers with their feature that permits you to set your own stop-losses with a monthly gambling budget. They are also safe to use and have great reports from Scandinavian gamblers.

Instant Banking by Citadel

With a network of over 200 banks participating, this instant banking option is extremely popular for gamblers in over 30 countries. Users can connect to this option using their own bank accounts, which is extremely convenient.

Citadel does not charge any fees, and users of this service will also enjoy anonymous transfers. These deposits take a matter of seconds, so we recommend this method for anyone in participating countries.
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InstaDebit

InstaDebit is a reliable veteran in the deposit option world. The problem is that this option is only available for those who have a Canadian bank account.

There is a small $2 fee involved anytime you move money from your bank to your InstaDebit account or vice versa. Even so, this option is one of the favorite methods for transferring funds online for Canadians.

GiroPay

If you have a bank account in either Germany or Austria, odds are that you have used GiroPay to complete an online transaction before. Many online sportsbooks now accept GiroPay, which serves over 17 million customers.

GiroPay is the second most popular online payment method in the German region, losing only to Sofort Uberweisung. This is impressive considering they were founded just 11 years ago.

EntroPay

Entropay is a prepaid virtual Visa card that will work anywhere that Visa is accepted. This was the very first prepaid virtual card to exist in Europe when it emerged in 2000. With this card, you will be able to deposit onto online betting sites using USD, EUR or GBP currencies.

All your personal information is protected by 128-bit encryption with EntroPay, so you can be sure no one will be stealing your personal data. We are very impressed with the security and confidentiality that EntroPay brings to the table.

PaysafeCard

Paysafecard is one of the most popular ways for Europeans to deposit money into online betting sites. They were launched in Austria way back in the year 2000, and they now have over 1 billion customers. Instead of the usual plastic card routine, they have a unique voucher system which serves to facilitate transfers.

The only catch is that withdrawals are not always possible using this method. For betting sites that require you to deposit using the same method that you wish to withdraw money, this could end up being a huge pain.

Trustly

Hailing from Sweden, Trustly has been around since 2008 and serves only residents of countries that are members of the European Union. This service allows gamblers to deposit online using money from their bank account. All deposits or withdrawals are instant.

If you have an account at one of the participating banks, you can deposit using this option without any intermediary steps making things complicated. You don’t even need to sign-up for an account to use Trustly!

Sofort Uberweisung

Sofort Uberweisung is an award-winning German payment method that is so easy to use, you do not even need to sign-up and make an account. This method lets players who have bank accounts use those bank funds to complete online transactions.

This is one of the most prevalent payment methods in online sportsbooks, especially those that serve Europe. All that users need to do is enter a verification code that is sent to their phone, confirm the transaction and they will have their money sent instantly to any supporting online sportsbook.

Choosing the Best Deposit Option

Wow, that list of deposit options from above is insanely long! How can you possibly know where to start if you are new to the Internet gambling scene?

Well, the first thing you need to do is consider your current life situation. There is no way to make a proper decision about what is good for you if you do not consider all the variables surrounding your life at this very moment.

For example, if you do not have a bank account, you will need an option that does not use banks. If you do not have a bank account, and you are low on money, your best option might be to not deposit at all.

If you have a bank account but want to deposit a large sum of money, you will need to find a method that facilitates large transfers using banks. If you have a credit card, but you are poor and want to avoid the fees that come from using it, you might want to find a method that is totally free.

As you can see, the answer to this question all depends on your personal needs. These needs can only be addressed by taking a step back and deciding what it is that you are looking for.

If we had to choose, our personal recommendation for a deposit method would be Bitcoins. This digital currency is extremely convenient for sending money from country to country, which often happens in the online gambling world. Bitcoins also feature 100% anonymous transfers, faster transactions than normal banking methods and lower house edges on the sites that accept them.

Conclusion

Gambling requires money. Money requires depositing. Depositing requires deposit methods. Therefore, gambling is not possible without some quality deposit methods at our disposal.

It is important to analyze what you are looking for in a deposit method before you decide on committing to one. Whether you are chasing that specific method’s simplicity, or going after a promotion that is only available with one certain deposit method, there is always going to be a method for every occasion and situation.