Using Money Orders (Person-to-Person) to Deposit at Your Sportsbook
When the first online sportsbook was established in 1996, money orders (also known as person-to-person or P2P) were the most reliable and efficient way to make deposits.
A lot has changed since then, and the internet has helped provide different easier and more dependable deposit options at online sportsbooks. The landscape of sports betting looks a lot different now, but money order deposits still remain a trustworthy option for bettors.
To learn more about funding your sportsbook account via money orders – as well as the associated benefits and drawbacks – read on!
What Are Money Transfers?
A money order is a paper statement (much like a check) that can be used to make payments.
They can be paid for using a variety of methods: cash, credit card, or debit card.
Unlike a check, money orders are prepaid. Money order services demand payments up front and are guaranteed forms of payments with zero no risk of bouncing.
The recipient’s payment information will appear on the front of each money order. When purchasing one, you need to know who you’re sending it to and should be prepared to present the requisite information. Money orders can be received by either an individual or a larger organization.
This makes it nearly impossible for a money order to be interdicted or stolen. Unless you’re the designated recipient, you can’t cash in a money order.
To purchase a money order, you have to find a third party who sells them and be ready to pay the money up front. A quick Google search for “money orders” retrieves local sellers. For American bettors, we recommend options like MoneyGram, Western Union, and Ria. Otherwise, money orders are generally available at credit unions, supermarkets, convenience stores, payday loan stores, money transfer retail locations, and United States Post Offices.
Generally, money orders come with fees, either as a percentage of your transaction or a flat fee. As we’ll touch on later, these fees tend to be higher than other methods.
How Do I Make a Money Transfer Deposit at My Sportsbook?
First and foremost, you need to set up an account at your sportsbook.
From there, you’ll have to get in touch with the sportsbooks customer service department and ask for either a money transfer or P2P deposit. This can be done via telephone, live chat, or email, and they’ll walk you through the entire process if need be.
Your sportsbook will provide you with a tracking number that you can send, along with your money order. This lets you follow the status of your money order as it makes its way to the sportsbook.
From there, all you need to do is head to the closest money order provider near your home and purchase one.
The cashier will send your money order on its way and provide you with a 10-digit transaction number and a receipt. Be sure to hang on to this, a sportsbook’s customer service agent may require you to email the 10 digit number to confirm the transaction.
In the majority of cases, the person you direct your money order to is an individual receives it on behalf of a sportsbook. Upon successful receipt of your money, this individual will subsequently transfer it to your sportsbook. This person must be employed by your sportsbook, and will likely reside in the same region that your sportsbook is licensed in, be it in North America, the Caribbean, or Europe.
If you complete your money order and send it to your sportsbook during business hours, it’s possible that you could have money in your account within a couple of hours. Over a weekend, it may take a few days to be confirmed.
Money Order and P2P Deposit Options Are the Same!
Sometimes, websites won’t list options like MoneyGram, Western Union, or Ria by name.
However, they’ll have “Person-to-Person” or “P2P” listed as a deposit option. While confusing, P2P and all money orders essentially refer to the same service.
The Benefits of Using Money Orders
There are some notable benefits of using money orders to finance your sports betting account, even if it has waned in popularity as a deposit method:
- Because they go through an intermediary – and are a straightforward process which don’t require a bank or credit card company security department – a money order will never be denied.
- If you don’t have a credit card or a bank account, you can pay for money orders in cash. This is particularly pertinent to international bettors residing outside of North America and Europe.
- You don’t need to reveal any of your personal information to your sportsbook. Making a deposit this way is anonymous, and you’ll never expose your credit card or banking information to anyone along the way.
- Find a participating location, fill out a money order with the necessary information, pay for it in cash, and then send it along to the recipient. It’s that easy!
Money Orders Have Obvious Drawbacks
The rise of digital payment solutions has done away with most antiquated methods like money orders. While reliable, they do come with significant drawbacks:
- You can’t deposit at your sportsbook via money order from the comfort of your couch like electronic deposit methods, nor can you deposit on the move with your mobile phone.
- The maximum deposit size via money order is generally low. Of all the sportsbooks we review, the average max deposit size is $800. Contrast this with bank wires, where the maximum deposit can be unlimited.
- Money order fees are incredibly high, as we mentioned earlier. Sometimes, this service will charge you up to 10% of your transaction, plus any other non-money-related fees.
Make A Deposit Today!
The market for sports betting has never been bigger, and as such, sportsbooks are trying to entice more bettors with a growing list of deposit options.
If money orders aren’t your style, sportsbooks now offer a ton of alternatives for deposit methods. While it’s undoubtedly a more complicated process, making a deposit via cryptocurrency has many of the same benefits as money orders, but with none of the associated drawbacks.
For more information on all things related to depositing and withdrawing, check out our detailed guide!