Betting Deposit Methods
Oh my, this subject of betting deposit methods is a dry one, isn’t it? But you’re here, so I’m guessing you are looking for some understanding of how you deposit money in a poker, casino, sports-betting, or online bingo account.
I’m going to take a stab of covering it, even though I don’t get why (for some of us in some countries) it’s a problem. Seems to me to be a restriction of an individual’s rights, but I know there are a number of reasons behind that.
In the UK particularly, and in a number of other countries, there are many widely available options for depositing playing money in an online betting account. Credit cards, bank transfers, and a range of different money wallet services are all valid options. I'm in the UK and cannot remember ever having an issue with depositing my cash in any form of betting account. And I've done it a lot of times!!
Problems Depositing Betting Money in The US
But one place where it is a big problem is in the US. Despite online gambling itself being completely legal, a bank handling online gambling transactions is not. This has made it extremely difficult for players in the United States to transfer funds to and from online casinos, or for any other type of online betting.
To make matters worse, credit cards usually cannot be utilized for these types of transactions, e-commerce businesses such as PayPal won’t involve themselves in online gambling transactions, and small processors are constantly being closed by the feds.
So what can someone do? A large portion of the professional gambling community has changed their residency to Canada or Europe. Of course this is a drastic step, and one that’s only open to a few who are working on a professional - or at least extremely profitable - level. If this isn’t possible for you, you may want to try some of these methods.
Give the Credit Card a Shot.
There have been instances where a credit card has worked. Unfortunately, on the rare occurrence that it does work today, chances are it won’t work tomorrow. It’s also important to note, if it does work, high fees may be associated.
Another possible solution is to get a foreign gift card. The only problem with this is that you will either need to know someone from Canada or Europe, or you may have to obtain an address in one of those countries.
Utilize the E-Check.
It is possible to have the casino withdraw the funds from your bank account directly. Unfortunately, this would entail you divulging your account number. Therefore, if you utilize this method, make sure the establishment is trusted.
At this point, you may be wondering about consequences utilizing this method. After all, the feds made these types of transfers illegal back in 2006. The good news is that it is illegal for the banks…not for you. In other words, you can make the request without legal ramifications. If the bank obliges, they do so at their own risk.
Check Out The Fastest Way to Send Money Worldwide: Western Union
To use this method, you will have to call your online casino and get the beneficiary name. Then call Western Union and send the money with your credit card. Finally, give the casino a call again and give them the control code which you received from Western Union.
The issue with this method is that Western Union has some heavy fees associated with them. However, most online casinos will pick up the tab on the charges for a minimum transfer. There have been some reported instances of people getting the fees picked up by the casino with a $500 transfer.
Once You Have Successfully Deposited Cash To A Betting Account - Getting Your Winnings
This is the easy part. The casino will send you a check after verifying your identity. This is normal so don’t get nervous when they ask you for identification. It is important to remember that if you transferred money through an electronic check, you will have to wait for that check to clear. This can take anywhere from three business days to two weeks. So the hard part is being patient.
With these methods, you may be able to deposit betting money to and from online casinos while being in the United States. So don’t get that foreign physical address quite yet!
Casinosonline.com has a useful page that lists out a number of the different options for placing your cash in an online gambling account.