Minimum Bets and Minimum Deposits at Sportsbooks
Browsing through the terms and conditions of sportsbooks can be exhausting. Thankfully, we’ve read the fine print for you to tell you what to expect when you first log in to a new online sportsbook.
In this guide, we examine the most typical rules and requirements surrounding minimum deposit limits, and outline which deposit methods come with the easiest process and lowest fees. Additionally, we’ll take a look at minimum bet limits, a common restriction on how small a wager your online sportsbook will accept.
Minimum Deposit Amounts Depend on Your Funding Source
To start placing bets at your sportsbook of choice, you’ll first have to make a deposit. Minimum deposit amounts vary between books, but the required amount often also varies depending on the method used to make the deposit.
Money transfers, checks, and bank wires have the highest minimum deposits, as these are a greater hassle for sportsbooks to process and deal with. It is industry standard for banking methods to have the highest fees of any deposit method.
Minimum Deposit Via Credit Card
Credit cards are the most popular method of deposit. Minimum deposits with a credit card can range anywhere from $10-$100, but tend to fall on the lower end of this range.
American and European bettors can expect to encounter $10 minimums at the most popular online sportsbooks.
Sportsbooks strive to set a low minimum deposit for this method, given that it’s the most popular and convenient way for bettors to fund their accounts.
Minimum Deposits Via Bank or Money Transfer
If you use a bank wire or a money transfer to fund your betting account, you may have to lay down a lot of cash. Minimum deposits can be significantly higher for these methods, particularly if you’re unable to take advantage of an ACH or online bank transfer.
Minimum deposits can be as low as $10 for electronic transfers, but don’t be surprised if you’re asked to deposit significantly more when using more traditional wire services.
Minimum Deposit Via eWallets
When we talk about eWallets, we’re referring to services like Paypal, Neteller, and Skrill. eWallets allow you to store multiple credit card or bank account numbers in a secure environment. Payments are much faster, and many are nearly instantaneous.
Best of all, some sportsbooks place no restrictions whatsoever on deposits made via eWallet services. That said, a $10 minimum remains standard at many online sportsbooks.
Note that you may also be required to use the same eWallet to make a withdrawal when the time comes.
The Smallest Bets You Can Make At Your Sportsbook
You might be surprised to hear this, but most sportsbooks allow you to make very small wagers. As long as you meet deposit requirements (and future withdrawal requirements), sportsbooks are happy to let you wager with tiny amounts of money.
We’ve seen online sportsbooks accept wagers as low as $0.01, but the majority place their minimums between $0.50 and $2.00. You won’t find an online sportsbook with a minimum higher than $5.00.
Note that minimum bet amount can vary depending on the time of year or specific event.
Get Started Today!
If you’re still trying to figure out how to best develop a sports betting strategy, we’re here to help. We’ve created an entire guide to the fundamentals of sports betting to help you get started.
If you’re trying to decide what method is right for you to finance your sportsbook account, check out our comprehensive guide to all things related to depositing and withdrawing from your sportsbook.
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