Best Sportsbook Banking Options
Making deposits and withdrawals at an online sportsbook is a vital part of the online betting experience. If you’re confused by the sheer number of banking options out there and need some guidance, you’ve come to the right place.
We’ve scoured the US betting market in search of top online sportsbook banking options that tick all the boxes. This overview will present the most common payment processors and single-out online sportsbooks with the best payment systems.
You’ll also find comprehensive guides to making deposits and withdrawals on online betting sites and learn how to choose the best payment method for you.
Top List of Online Sportsbook Banking Options
Most online sports betting sites let their players transfer money to and from their online gambling accounts using different types of banking options. These most commonly include debit/credit cards, e-wallets, prepaid cards, online bank transfers, and in-person cash cages.
Let’s discuss each type of banking method in detail and see how they work and what they have to offer.
Credit and Debit Cards
Credit and debit cards are probably the most common type of payment method available in online sportsbooks. Most sites accept Visa and Mastercard, but Maestro, Discover, and American Express cards are also accepted here and there.
This banking option is a safe choice as well-known card providers implement sturdy security measures that safeguard your online gambling transactions. Almost everyone has a debit or credit card, and they are also straightforward to use as they don’t require a third-party account.
However, some banks issuing these cards may reject debit/credit card deposits if they have a policy against gambling transactions. They may also charge fees for your transactions, so make sure to read the fine print.
Finally, many sportsbooks don’t accept cards for withdrawals. For those that do, these transactions can take up to 5 business days, a bit longer than other payment methods.
| 💳Payment Method | 💵Deposits | 💵Withdrawals | ⏱️Deposit Speed | ⏱️Withdrawal Speed | 💲Fees |
|---|---|---|---|---|---|
| Visa | ✅Yes | Depends on the sportsbook | Instant | Up to 5 banking days | There can be small fees; the rate depends on the bank |
| Mastercard | ✅Yes | Depends on the sportsbook | Instant | Up to 5 banking days | There can be small fees; the rate depends on the bank |
| Maestro | ✅Yes | Depends on the sportsbook | Instant | Up to 5 banking days | There can be small fees; the rate depends on the bank |
| American Express | ✅Yes | Depends on the sportsbook | Instant | Up to 5 banking days | There can be small fees; the rate depends on the bank |
| Discover | ✅Yes | Depends on the sportsbook | Instant | Up to 5 banking days | There can be small fees; the rate depends on the bank |
E-Wallets
E-wallets are digital payment providers that allow you to store funds from different sources. They let you manage your money under one account and send and receive payments from different merchants online, making them one of the most convenient banking options.
When making deposits and withdrawals via an e-wallet, such as PayPal, you don’t have to share your banking information with a betting site. An e-wallet acts as a middleman between your bank and the sportsbook, providing an additional layer of security for your funds.
In addition to that, e-wallet deposits are instant, and withdrawals usually take one to two business days., making it one of the fastest payout methods out there. That being said, some e-wallets do charge small fees for your transactions.
| 💳Payment Method | 💵Deposits | 💵Withdrawals | ⏱️Deposit Speed | ⏱️Withdrawal Speed | 💲Fees |
|---|---|---|---|---|---|
| Paypal | ✅Yes | ✅Yes | Instant | Up to 2 days | No fees |
| Neteller | ✅Yes | ✅Yes | Instant | Up to 2 days | 2.5% fixed fee for moving funds to and from your account |
| Skrill | ✅Yes | ✅Yes | Instant | Up to 2 days | No fees |
| Venmo | ✅Yes | ✅Yes | Instant | Up to 2 days | No fees |
Prepaid Cards
Prepaid cards are a common and convenient way of topping up an online sportsbook account. You can either buy a prepaid voucher or sign up for a digital one. Some prepaid payment services like the Game On Gift Card provide physical cards you can use to withdraw money at ATMs and pay for goods and services.
These banking options are excellent for players whose banks prevent them from using their debit/credit cards on a betting site. They act as intermediaries between your bank account and the sportsbook, leaving no trace of gambling transactions on your bank statement. Prepaid cards also facilitate quick transactions with relatively low fees, but some of these payment methods aren’t available for withdrawals.
| 💳Payment Method | 💵Deposits | 💵Withdrawals | ⏱️Deposit Speed | ⏱️Withdrawal Speed | 💲Fees |
|---|---|---|---|---|---|
| Play+ | ✅Yes | ✅Yes | Instant | Instant | Up to $2 for card loads and ATM withdrawals |
| Paysafecard | ✅Yes | ❌No | Instant | N/A | No fees |
| Neosurf | ✅Yes | ❌No | Instant | N/A | No fees |
| Flexepin | ✅Yes | ❌No | Instant | N/A | There may be “convenience fees” of up to 10% |
Bank Account Transfers
Most online sportsbooks feature bank account transfers as a viable deposit and withdrawal method. This banking option lets you connect your bank account directly to your online sports betting account. Because of that, it’s the perfect option for players who don’t want to have any third-party payment providers handling their funds.
Bank account transfers are also an excellent choice if you want to deposit or withdraw large amounts of money, as their limits are much higher than those applied to other payment methods. However, both deposits and withdrawals can take a long time to process. You may have to wait up to three days to receive your deposits and up to ten days to receive your withdrawals.
We should point out that not all US banks are comfortable with online gambling transactions. You can see which banks allow online gambling transactions on our separate guide.
| 💳Payment Method | 💵Deposits | 💵Withdrawals | ⏱️Deposit Speed | ⏱️Withdrawal Speed | 💲Fees |
|---|---|---|---|---|---|
| Online banking | ✅Yes | ✅Yes | 2 hours to 3 days | Up to a week | Depends on the casino and your bank of choice |
In-Person Cash Cages
Most licensed online sportsbooks in the US also have retail locations in jurisdictions that allow sports betting. These retail locations allow customers to deposit and withdraw money from online betting sites in person at the sportsbook’s cash cage.
This banking method is beneficial because it allows for instant deposits and withdrawals that are also fee-free. Customers can also use different payment methods, including debit/credit cards and cash.
Still, this option can also be impractical since you must travel to the nearest land-based sportsbook to take advantage of it.
Online Sportsbooks With the Best Payment Methods
Some of the best online sportsbooks in the US also feature some of the best and most varied payment methods. Read on to find out which operators have the superior payment systems.
| 📖Sportsbook | 💳Payment Methods | ⏱️Processing Speed | 💵Fees |
|---|---|---|---|
| DraftKings | Credit and debit cards, online banking, PayPal, VIP Preferred e-check, cash at cage, cash at retail, Venmo, wire transfer, DraftKings gift card, electronic gift card, checks | 24h | No fees |
| FanDuel | Trustly online banking, Visa/Mastercard debit/credit card, Apple Pay, Venmo, PayPal, cash at counter, PayNearMe, Wire transfer, FanDuel Prepaid Play+, gift card | Up to 3 banking days | No fees |
| BetMGM | Visa and Mastercard, VIP Preferred e-check, PayNearMe, Play+, PayPal, Wire transfer, Online Banking, Discover, Apple Pay, BetMGM Gift Card, Cash at Sportsbook Cage, MGM Rewards Mastercard, Venmo, Check by mail | 3 to 5 days | No fees |
| Caesars | Visa, Mastercard, Discover, VIP Preferred e-check, Trustly Online Banking, Caesars Sportsbook Play+ Card, PayPal, Venmo, PayNearMe | 1–24 hours | No fees |
| PointsBet | Debit/credit cards, Trustly online banking, ACH/e-check, PayNearMe, PayPal | 1–2 business days | No fees |
| BetRivers | Visa, Mastercard, PayPal, Trustly, VanillaDirect, PayNearMe, Discover, Cheque, Bank Account Transfer, Play+ | 24h | No fees |
| Unibet | Debit/credit cards, PayPal, Play+, e-check, online banking | Up to 72h | No fees |
| bet365 | Debit/credit cards, Trustly online banking, PayPal | Up to 24h | No fees |
| Betway | Play+, VIP Preferred, Credit Cards, PayPal, PayNearMe | 2 business days | No fees |
| Tipico | VIP Preferred e-check, debit/credit cards, Apple Pay, Wire transfer, ACH with Mazooma's Instant Bank Account Transfer, Play+, PayPal, Cash at casino cage | Up to 24h | No fees |
BetMGM
BetMGM is one of the most popular and trusted brands in the US online sports betting market and its payment system reflects that. The operator accepts a substantial variety of banking methods for both deposits and withdrawals, including cards, online banking, pre-paid vouchers, e-wallets, gift cards, and cash at the casino cage.
The site processes deposits instantly, and charges no fees for your transactions. It sets a standard deposit limit of $10 and allows customers to set their own limits to control their spending.
BetMGM’s minimum withdrawal limit is also $10, which is quite reasonable. However, the operator’s internal payment processing time is a bit long, taking between three and five days.
| 💳Payment Method | Available for Deposits❓ | Available for Withdrawals❓ | 💵Minimum Deposit | 💵Minimum Withdrawal | ⏱️Withdrawal Speed | 💲Fees |
|---|---|---|---|---|---|---|
| Visa and Mastercard | ✅Yes | ✅Yes | $10 | $10 | Up to 24h | No fees |
| VIP Preferred e-check | ✅Yes | ✅Yes | $10 | $10 | 2–4 business days | No fees |
| PayNearMe | ✅Yes | ❌No | $10 | $10 | N/A | No fees |
| Play+ | ✅Yes | ✅Yes | $10 | $10 | Within 4h | No fees |
| PayPal | ✅Yes | ✅Yes | $10 | $10 | Up to 24h | No fees |
| Wire transfer | ✅Yes | ❌No | $10 | $10 | N/A | No fees |
| Online Banking | ✅Yes | ✅Yes | $10 | $10 | 2–4 business days | No fees |
| Discover | ✅Yes | ❌No | $10 | $10 | N/A | No fees |
| Apple Pay | ✅Yes | ❌No | $10 | $10 | N/A | No fees |
| BetMGM Gift Card | ✅Yes | ❌No | $10 | $10 | N/A | No fees |
| Cash at Sportsbook Cage | ✅Yes | ✅Yes | $10 | $10 | Instant (after approval) | No fees |
| MGM Rewards Mastercard | ✅Yes | ❌No | $10 | $10 | N/A | No fees |
| Venmo | ✅Yes | ✅Yes | $10 | $10 | Within 24h | No fees |
| Check by mail | ❌No | ✅Yes | n/a | $10 | 7–21 business days | No fees |
Caesars
The Caesars sports betting site is owned and operated by Caesars Entertainment, a Las Vegas gambling company founded in 1937. In addition to its long history and spotless track record, the company also features a rich selection of deposit and withdrawal methods customers can use.
In addition to cards and online banking, Caesars Sportsbook allows pre-paid services, e-wallets, and even its own Caesars Sportsbook Play+ Card. However, the availability of specific banking options depends on the state you’re playing from.
Both the minimum deposit and withdrawal limits are set at $10, which is the standard. The operator automatically credits the deposits to your sports betting account and processes withdrawal requests in up to 24 hours, with some requests approved within one hour.
| 💳Payment Method | Available for Deposits❓ | Available for Withdrawals❓ | 💵Minimum Deposit | 💵Minimum Withdrawal | ⏱️Withdrawal Speed | 💲Fees |
|---|---|---|---|---|---|---|
| Visa | ✅Yes | ✅Yes (debit cards) | $10 | $10 | Less than 1h | No fees |
| Mastercard | ✅Yes | ✅Yes (debit cards) | $10 | $10 | Less than 1h | No fees |
| Discover | ✅Yes | ❌No | $10 | $10 | N/A | No fees |
| VIP Preferred e-check | ✅Yes | ✅Yes | $10 | $10 | At least 1 business day | No fees |
| Trustly Online Banking | ✅Yes | ✅Yes | $10 | $10 | Several days | No fees |
| Caesars Sportsbook Play+ Card | ✅Yes | ✅Yes | $10 | $10 | 1–2 banking days | No fees |
| PayPal | ✅Yes | ✅Yes | $10 | $10 | Up to 24h | No fees |
| Venmo | ✅Yes | ✅Yes | $10 | $10 | Up to 24h | No fees |
| PayNearMe | ✅Yes | ❌No | $10 | $10 | N/A | No fees |
DraftKings
Although it initially launched as a DFS site, DraftKings has also managed to break through to the highest tiers of the sports betting industry. Its banking system is one of the best in the market in terms of a variety of options, fees, limits, and processing speed.
The operator works with most major payment processors, allowing you to make transactions via e-wallets, gift cards, pre-paid vouchers, online banking, cards, and even cash. Still, not every payment method is available in every state, so you’ll have to check out the Cashier for the exact options.
The sportsbook’s minimum deposit limit is just $5, and the withdrawal limit is even lower, starting at only $1. What’s more, DraftKings processes withdrawal requests in just 24 hours and charges no fees for your transactions.
| 💳Payment Method | Available for Deposits❓ | Available for Withdrawals❓ | 💵Minimum Deposit | 💵Minimum Withdrawal | ⏱️Withdrawal Speed | 💲Fees |
|---|---|---|---|---|---|---|
| Credit and debit cards | ✅Yes | ✅Yes (debit cards) | $5 | $1 | 1 business day | No fees |
| Online banking | ✅Yes | ✅Yes | $5 | $1 | Up to 5 business days | No fees |
| PayPal | ✅Yes | ✅Yes | $5 | $1 | Up to 2 business days | No fees |
| VIP Preferred e-check | ✅Yes | ✅Yes | $5 | $1 | Up to 3 business days | No fees |
| Cash at cage | ✅Yes | ✅Yes | $5 | No limit | 1h | No fees |
| Cash at retail | ✅Yes | ❌No | $5 | N/A | N/A | No fees |
| Venmo | ✅Yes | ✅Yes | $5 | $1 | Up to 2 business days | No fees |
| Wire transfer | ✅Yes | ✅Yes | $5 | $20,000 | Up to 2 business days | No fees |
| DraftKings gift card | ✅Yes | ❌No | $5 | N/A | N/A | No fees |
| Electronic gift card | ✅Yes | ❌No | $5 | N/A | N/A | No fees |
| Checks | ❌No | ✅Yes | n/a | $15 | 3 to 7 business days | No fees |
FanDuel
Another operator that became famous for its DFS product, FanDuel, has also become synonymous with the best US sports betting. This thriving company offers a great selection of deposit and withdrawal methods, but their availability depends on specific jurisdictions.
Regardless of the kind of transaction you make or the banking method you choose, you won’t have to pay any fees at FanDuel. You’ll also be able to deposit as little as $10 per transaction, which is also the minimum withdrawal limit for most payment methods.
Deposits at FanDuel are quick, but withdrawals can take a substantial amount of time. The operator processes cage cash withdrawals in two days, whereas approvals for payouts via other payment methods can take up to three banking days.
| 💳Payment Method | Available for Deposits❓ | Available for Withdrawals❓ | 💵Minimum Deposit | 💵Minimum Withdrawal | ⏱️Withdrawal Speed | 💲Fees |
|---|---|---|---|---|---|---|
| Trustly online banking | ✅Yes | ✅Yes | $10 | $10 | 3–5 business days | No fees |
| Visa/Mastercard debit/credit card | ✅Yes | ✅Yes (debit cards) | $10 | $10 | Up to 48h for the first withdrawal and up to 24h for all other withdrawals | No fees |
| Apple Pay | ✅Yes | ❌No | $10 | $10 | N/A | No fees |
| Venmo | ✅Yes | ✅Yes | $10 | $10 | Up to 48h | No fees |
| PayPal | ✅Yes | ✅Yes | $10 | $10 | Up to 48h | No fees |
| Cash at counter | ✅Yes | ✅Yes | $10 | $10 | 1h–48h | No fees |
| PayNearMe | ✅Yes | ❌No | $10 | $10 | N/A | No fees |
| Wire transfer | ✅Yes | ❌No | $10 | $10 | N/A | No fees |
| FanDuel Prepaid Play+ | ✅Yes | ✅Yes | $10 | $10 | Up to 24h | No fees |
| Gift card | ✅Yes | ❌No | $10 | $10 | N/A | No fees |
PointsBet
As one of the best up-and-coming US online sportsbooks, PointsBet tries hard to provide a well-rounded betting service, and we can see that in its banking system. The brand may not offer the versatility other operators on this list have, but it works with some of the most reliable payment providers.
PointsBet doesn’t charge any fees for your deposits and withdrawals. It processes deposits instantly, and its internal withdrawal processing time is just one to two business days. PointBet’s limits are also quite reasonable, set at $10 for both deposits and withdrawals.
| 💳Payment Method | Available for Deposits❓ | Available for Withdrawals❓ | 💵Minimum Deposit | 💵Minimum Withdrawal | ⏱️Withdrawal Speed | 💲Fees |
|---|---|---|---|---|---|---|
| Debit/credit cards | ✅Yes | ❌No | $10 | $10 | N/A | No fees |
| Trustly online banking | ✅Yes | ✅Yes | $10 | $10 | 1–3 business days | No fees |
| ACH/e-check | ✅Yes | ✅Yes | $10 | $10 | 1–3 business days | No fees |
| PayNearMe | ✅Yes | ❌No | $10 | $10 | N/A | No fees |
| PayPal | ❌No | ✅Yes | $10 | $10 | Up to 30 minutes | No fees |
How to Make a Sportsbook Deposit?
To make a sportsbook deposit, you should complete a few simple steps. Here is the breakdown of the process:
- Choose a sportsbook from our list and click on our link to open its website in a new window.
- Fill in the registration form to open an online sports betting account.
- Go to the Cashier section and choose the Deposit option.
- Choose a deposit method.
- Enter the amount you’d like to deposit.
- Follow the on-screen instructions to complete your transaction.
Depending on the betting site, you may need to verify your identity and age before your deposit can go through. This is a one-time requirement, so you’ll only have to complete it on your first deposit.
How to Make a Sportsbook Withdrawal?
To make a sportsbook withdrawal, you should first ensure that your funds are withdrawable, i.e., that you’re not trying to withdraw bonus money and that you’ve completed any associated wagering requirements. Once that’s settled, you can follow this step-by-step guide to request a payout:
- Go to the Cashier and select the Withdraw option.
- Choose a withdrawal method you’d like to use.
- Enter the amount you’d like to withdraw.
- Follow the instructions to complete the payment request.
Depending on the sportsbook’s internal processing time, you’ll have to wait up to five days for your request to be approved. This time frame can be longer if you haven’t verified your identity. After the sportsbook approves your request, you’ll have to allow a few hours or days for the money to reach your account, depending on your chosen withdrawal method.
How to Choose the Best Sportsbook Payment Option?
With so many options available at US sportsbooks, choosing a payment method is no easy feat. Let’s look at some of the most important factors you should consider while weighing your options.
Security
When it comes to moving money, security is everything. Because of that, you should choose a highly secure deposit and withdrawal method that implements top-tier security standards like firewalls, two-factor authorization, and SSL encryption. All major credit/debit card issuers and e-wallets excel in this regard, so you have nothing to worry about.
Convenience
When you’re making a transaction on a betting site, you want the process to be as smooth and fuss-free as possible, so you can go back to betting. This is why it’s essential to consider a payment provider’s interface and ease of use and ensure the deposit or withdrawal process is not overly complicated.
Processing Speed
Although most payment providers process deposits instantly, they have different payment processing times for withdrawals. E-wallets and debit cards tend to be the fastest, whereas wire transfers and checks have the longest transaction times, spanning from a few days to several weeks.
Fees
Most online sports betting sites don’t charge fees for your transactions, but some payment processors may. In addition to processing fees, you should also consider costs like account maintenance and expenses associated with topping up your payment account and withdrawing money from it, as well as any currency conversion charges.
Limits
Different deposit and withdrawal methods allow you to transfer different amounts of money. For instance, you can’t withdraw less than $20,000 via wire transfer on some sites. On the flip side, some banking methods don’t allow you to deposit or withdraw more than a specified amount. To find a suitable banking option, make sure to always read the fine print.
Availability
Some payment methods may not be available in all US states. Before you create an account with a payment processor and transfer your money to it, check where you can use it first.
Sportsbook Banking Options Bonuses & Promotions
Almost all deposit and withdrawal methods are eligible for online sportsbook bonuses and promotions. Some exceptions include Skrill and Neteller, which are sometimes exempt from these offers.
Anyhow, there are six main types of bonus offers in online sportsbooks. These include:
- Welcome bonuses — These offers are available on your first deposit in an online sportsbook. They usually consist of cashback, matched bets, matched bonus money, or combinations thereof.
- Matched bets — This is one of the most common type of offer on betting sites. After you make a qualifying bet, you get a specific amount of credit you can use on select betting markets.
- Cashbacks — This type of promotion is also called a risk-free bet, as it allows you to get your stake back if your bet doesn’t go through.
- Reload offers — Reload offers are available on your deposits on a betting site. They usually match your deposit with an amount of betting credits.
- Refer-a-friend offers — These offers allow you to collect bonus money after your friends sign up for a sportsbook with your code and make their first deposit.
- Loyalty programs — Most major sportsbooks have loyalty programs that award points for your activity on the platform, letting you achieve higher tiers and become eligible for increasingly more valuable perks and benefits.
Final Thoughts
There you have it — the best online sportsbook deposit and withdrawal methods and the best betting sites that offer them. We hope that our guide has helped shine some light on this complex topic and that you now find it easier to choose a banking option that best suits your needs and preferences.
Remember that online sportsbooks provide specific payment options for a reason, and no method is all good or all bad. While some payment processors may have longer processing times, they may also allow you to transfer larger amounts and vice versa. The point is to find one that is safe, reliable, and compatible with your needs.
