Payment Methods for Online Betting

Without a doubt one of the most widely used betting site payment methods, using a Visa, MasterCard, Discover, Amex, or one of the other nationwide cards is almost always a safe bet - mainly because almost everyone has some plastic in their wallet!

Pros and Cons of Card Payments

There are lots of good reasons to opt for a simple deposit with your card, but unfortunately nothing is perfect, and there are some negatives to keep in mind when typing in that insanely long number.

Obviously the only real negative to card payments on betting sites is the requirement for a different withdrawal method in some cases, and the state by state limitations on credit cards. But there are usually a few options for withdrawals of each betting site, at the very least a bank transfer. So if you're ok with slinging your card number in and getting your winnings out some other way - this might be the simplest option. 

But if you want a more complete solution for deposits and withdrawals, an e-wallet might be the better choice. 

Probably the most versatile and contained payment method to access your betting funds, e-wallets have become a go-to for sports bettors across the world, with some developed solely for betting!

E-wallets are an excellent choice for online sports betting in the US

While it may seem like an added step to set up an e-wallet if you don't already have one, there are quite a few advantages in the long run if you're happy to take the few minutes to link a card or bank account. Namely only sharing you card or bank details with one company (the e-wallet) is inherently more secure, but it's also a great way to manage your funds in one place as most betting sites allow deposits and withdrawals through an e-wallet like PayPal. 

Pros and Cons of E-wallet Payments

As more and more betting sites start to pop up through the US, the already popular e-wallet payment methods will likely become even more accepted and mainstream because there really aren't too many downsides.

Certainly the largest global e-wallet, PayPal has been around for almost 20 years longer than sports betting has been legal in the USA. And it has built a reputation for safety, reliability, and ease of use. Almost all betting sites we feature on this site allow PayPal - even for claiming welcome offers - and it's fair to pay we're fans of the e-wallet for a few reasons.

What we like about PayPal

✅ Secure, convenient, fast

✅ The most widely accepted e-wallet for US betting sites

✅ Quick deposits and withdrawals

What we don't like about PayPal

❌ Extra step to link a bank account

An up and coming e-wallet in the US, Skrill has made a name for itself in the sports betting world across the pond, and we can't wait for it to be fully embraced by the US betting community. While still a somewhat limited choice for payments, more and more are allowing Skrill on betting sites. 

What we like about Skrill

✅ Trusted payment method globally

✅ Built with betting in mind

What we don't like about Skrill

❌ Not widely accepted yet

Venmo is owned by PayPal, and has become an incredibly popular person to person payment service, recently being adopted by betting sites as another easy way to move money. Just like other e-wallets, deposits are instant and withdrawals shouldn't take more than 48 hours, but are usually processed in a couple of hours. 

Play+ is easily one of the most common ways to bank with betting sites in the US, and is almost as readily available as using a debit card. Because it works like an e-wallet, you just need to have a Play+ account that you'll fund with a bank transfer or debit/credit card. 

One of the best things about Play+ is the speed you can both deposit and withdraw funds, which is instant for deposits and usually only a few minutes when you want to withdraw, depending on the betting site. Additionally, Play+ actually works like a bank account, and issues a physical card that is accepted anywhere Discover cards can be used, so you know your money is secure and your data is safe. 

Pros and Cons of Play+

Play+ is almost as available as a payment method as debits cards on US betting sites, and the service is expanding to be a more multifunctional e-wallet in the future, which makes it even more worthwhile to consider. 

With so many betting sites pushing for a mobile first use, it's not surprising that mobile payments are becoming more and more popular on betting sites. That being said, 'popular' doesn't mean common yet, as there are only a few different sportsbooks you'll be able to fund through a mobile payment. 

Pros and Cons of Mobile Payments

The ease of access makes mobile payments fantastic since all of your accounts will be already connected through your phone, and the only major downside is the lack of availability. 

A well known payment method for a lot of iPhone users, Apple Pay is a pretty common way to spend money on your shopping or some online retailers, but it hasn't made its way onto many betting sites. 

Unfortunately there isn't a whole lot to say about Apple Pay as a betting payment method, it's really just too limited at the moment. But given its swift uptake in the general retail community, our expectation is that betting sites will be looking to get that famous half eaten apple logo onto their list of accepted payment options.

Google Pay is a great payment method for Android users, simple and fast - but it's just not made its way onto the sport betting stage. So if you're an adamant android user and Google Pay is your preferred payment choice, you may need to find an alternative right now (see the numerous options on this page!). 

Of course sports betting sites will get around to offering Google Pay as a payment method, but right now that's just not the case. Make sure to check back as we will update to let you know when this changes!

Dating back to 1878 (well maybe not for online betting), bank transfers, or wire transfers, are as basic as it gets when it comes to sending money to and from your account. No middle man, no long card numbers, and no messing around with cards just for betting sites. This is just money in and money out.

Pros and Cons of Bank Transfers

While it may seem like an old school method of sending money would be really outdated in the 21st century, that's really not the case when it comes to betting site payment methods.

Clearly there are bunch or benefits to bank transfers, but this payment method for betting sites is unfortunately one of the slower options. While many betting sites have worked to speed up the process, the pretty instant transfer into your betting account isn't matched with a quick withdrawal time.

But if security and deposit amounts are what make you tick, sending your money with a bank transfer might be the way for you, if you're ok with logging into your banking app each time and having to wait a few days for your winnings.

Whoever says that cash is king might just be on to something. But since most of what we talk about here is online sports betting, I think we can rule out the royal title for this payment method. Unfortunately cash payments are not as common as you might think, given they rely on a location to deposit funds, so finding a betting site that has a physical casino attached, and actually going there is a bit much to ask. 

Because of this we can't really give too many pro cash sentiments, but if you're in the area and walking around with some cash in you pocket, it is an easy option to deposit and withdraw funds instantly. 

However, there is another way you can deposit funds with cash for some sportsbooks - PayNearMe.

We didn't really want to break down the Pros & Cons of online betting with cash, quite simply because it doesn't really make sense with online sports betting. If you want to fund you account with cash it's very easy and instant, but you will need to be in a physical casino.

Ten years on, PayNearMe has become a household name and processes billions each year through a bunch of payment methods. So naturally they became a pretty good option for betting sites to use as well. 

While not a strict 'cash' payment method, PayNearMe is a bit of a hybrid between all the payment methods we've mentioned, but they do make cash deposits and withdrawals much more accessible instead of being limited to casino cages in a select number of states.

Pros and Cons of PayNearMe

The hybrid payment method for online sports betting is certainly growing in popularity, but right now we think a more traditional e-wallet just has more function in everyday life and when sports betting. 

Bitcoin, DogeCoin, Ethereum, or whatever the latest crypto craze is - you might be in luck if you're looking to fund your online betting account with this secure and anonymous payment method. The bad news is that you will be very limited with the number of betting sites that accept crypto (Betr), and even more limited by which cryptocurrencies they accept. 

In the long run we expect more sportsbooks to accept crypto when more states being to allow this as legal tender for sports betting, but it might be worth looking for a different option like e-wallets or even Play+. 

Operators like Betr can accept Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and DASH, but they are among the only betting sites in the US that have begun to allow crypto for sports betting. 

Pros and Cons of Crypto Payments

The idea of being able to pay for online betting with your crypto wallet is cool, but in practice is quite inconvenient, especially with the limited currency options and few states that accept it. 

PaySafeCards have become an increasingly popular way to deposit and withdraw funds from betting sites, primarily due to the ease you can add money to your account or purchase a 16-digit code that will enable you to deposit funds without adding a bank or card details. 

You also have the option to create and register with PaySafe to allow purchases of the prepaid codes at any time, and will let you actually withdraw funds. 

Pros and Cons of PaySafe Payments

Another hybrid style of e-wallet, PaySafe focuses on keeping you bank details separate from how you pay, with the downside of forcing you to keep buying new chunks of payments if you want to keep funding your sportsbook account.