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 the lowest possible deposits and bets are at various top-notch online sportsbooks.
In this guide, we’ll outline the rules and requirements surrounding minimum deposit limits at your online sportsbook, and outline which methods require the least amount of capital to make a successful deposit. Additionally, we’ll touch on the smallest possible wager you’re able to make at various different sportsbooks.
If you’re hoping to start betting right away, here’s the abbreviated, essential information:
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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. The required amount of minimum deposit varies depending on your chosen method.
Bitcoin has the lowest deposit requirements due to the fact Bitcoin transfers don’t pass through a third-party intermediary, and as such, fewer fees exist.
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. 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.
At $20, Bodog and Bovada have the lowest credit card minimum deposits for American-based sportsbooks. At $10, both Bet 365 and 888 Sport have the lowest credit card minimum deposits for European sportsbooks.
Minimum Deposits Via Bank or Money Transfer
If you use a bank wire or a money transfer to fund your sportsbook, you’ll likely have to lay down a lot of cash.
Anytime you go through a banking platform, you’ll be charged a hefty fee, in the form of either a flat fee or a percentage fee on the transaction. As such, using them to fund your sportsbook will incur a fairly substantial fee. Additionally, sportsbooks charge their own fees to handle bank and money transfers, and they subsequently pass some of those costs onto the consumer.
Minimum Deposits Using Bitcoin
Bitcoin requires the lowest minimum deposit of any deposit method. Due to Bitcoin’s frictionless, decentralized system, there are no intermediaries between you and your sportsbook. This means that fees are almost always smaller.
Sportsbooks love dealing with Bitcoin and often reward bettors by making it easy for them to make cryptocurrency deposits. In recent years, more sportsbooks have elected to deal in Bitcoin, and the cryptocurrency shows no signs of waning in popularity.
Hidden Bitcoin Deposit Fees: The “Miner’s Fee”
Everytime you use Bitcoin to make a sportsbook deposit, you’ll have to pay the “miner’s fee”, a small amount you need to pay to the Bitcoin network to guarantee that your transaction is successful and recorded on the blockchain. The miner’s fee in Bitcoin transactions is always paid by the sender, never the recipient.
Whether you’re sending Bitcoin to your sportsbook directly from an exchange or from a personal wallet, your Bitcoin client will automatically recommend how much of a “miner’s fee” you’ll need to include in your Bitcoin transfer.
This fee can be anywhere from $0.50 to $8, depending on how busy the Bitcoin blockchain is. Fortunately, there are high quality, free resources you can use to estimate how much your fee will be before initiating a deposit to your sportsbook.
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.
There are many of these services available. Each one has a different minimum deposit at the website of your choice, depending on the sportsbook’s relationship with the specific eWallet.
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.
The majority of the sportsbooks we review, however, allow bets between $0.50 and $2. No sportsbook has a required betting amount of more than $5.
Some sportsbooks have variable minimum bets, depending on the time of year or specific event. Minimum bets are always much smaller than minimum deposit rates.
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.