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Using Online Banking To Finance Your Sportsbook Account

Mitchell South

by Mitchell South

Updated May 10, 2024 · 8:31 AM PDT

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When online sportsbooks first came into existence in 1996, there were limited ways to fund your account. eWallets like PayPal and Skrill were in their infancy, and online shopping hadn’t yet encouraged credit card companies to easily facilitate transactions over the web.

The original way to send money to your sportsbook was through your bank with a wire transfer or check. Today, bank transfers remain relevant as ever, with ACH e-transfers and other electronic direct payment options offering one of the quickest and most convenient ways to top up your bankroll.

The Benefits of Using Your Bank To Make Sportsbook Deposits

The sportsbooks we review virtually all accept electronic bank transfers as both a deposit and withdrawal method. These electronic transfers typically take the form of an ACH e-check transfer or electronic bill pay function.

Even methods that may seem “old school”, such as wire transfers or traditional checks present quite a few benefits:

  • Deposit limits are usually significantly higher if you use a wire transfer, money order, or couriered check. For those with the biggest bankrolls, these deposit methods are often the only option.
  • Banking methods won’t reveal any sensitive personal information to their sportsbook (financial or otherwise). Banks protect the security of all transfers, employing the highest quality encryption and safety measures to protect their clients.
  • It’s unlikely that regional restrictions will be placed on bank transfers. The same can’t be said for eWallets.

Betting Sites With Online Banking Payment Methods

Betting Site Online Banking Methods Get Started
DraftKings Sportsbook ACH Bank Transfer, Checks, Bank Wire Deposit Now
FanDuel Sportsbook  ACH Bank Transfer, Checks, Bank Wire Deposit Now
Bet365  ACH Bank Transfer, Checks, Bank Wire Deposit Now
BetMGM  ACH Bank Transfer, Checks, Bank Wire Deposit Now
Caesars Sportsbook  ACH Bank Transfer, Checks, Bank Wire Deposit Now
ESPN BET  ACH Bank Transfer, Checks, Bank Wire Deposit Now

Bank Wires, Checks, and Instant Transfers for Sports Bets

There are three primary ways that you can finance your sports betting account through your bank: instant e-transfers, bank wires, and checks. Let’s take a look at the benefits of each option.

Online Banking: ACH or Instant e-Transfer Deposits & Withdrawals

Electronic bank transfers are often the fastest way to get money into your online sports betting account. Chances are, you already use these online banking services to pay your bills or even settle up with friends after a weekend out.

ACH transfers or e-checks relies on the Automated Clearing House network to withdraw money from your account and then deposit it into that of a payee – in this case your online sportsbook. In our opinion, ACH transfers rival PayPal deposits and withdrawals as the best way to bank with an online sportsbook.

ACH sportsbook deposit advantages:

  • Widely accepted
  • No need to visit the bank
  • No fees
  • High limits – ACH transfers are often used to pay mortgages or make car payments

Other instant e-transfer options include Interac transfers and iDebit. Your access to these services depends on where you live. These options are not generally available to bettors located in the United States.

Sportsbook withdrawals using online banking typically take 2 – 4 days maximum.

Online Bill Pay at Your Sportsbook

Certain banks and online sportsbooks allow you to use online bill pay to make a deposit to your bankroll. This process is similar to that of an ACH transfer but doesn’t involve the use of a third-party clearing house.

If your bank offers this type of direct deposit bill pay service for you to pay your rent or utilities bills, you can add many online sportsbooks as a payee and make nearly instantaneous transfers at your convenience.

Best of all, online bill pay usually avoids the fees that are typically seen with ACH or other instant bank transfers involving a third party.

Bank Wire Transfers

Bank wires also move money directly from your bank account to the receiver’s bank account without the assistance of a third-party facilitator. This service is available at all financial institutions, including those that don’t offer online bill pay.

To initiate a wire transfer, you typically need to visit your bank and request that a certain amount of money be transferred to a specific individual and particular bank account number.

Fees are generally applied to every transfer and can take anywhere from 24 hours to ten business days for the transfer to complete. Look for an online sportsbook that will refund these fees if you deposit a certain amount. Many operators credit your account for any transfer fees incurred on deposits over $100.

While minimum deposits are high, bank wires tend to have the highest maximum of all deposit methods, allowing you to deposit upwards of $100,000. As we mentioned earlier, some sportsbooks even allow for unlimited deposits via bank wire.


Physical checks are a relatively antiquated payment method, but they remain an option for both deposit and withdrawal at most sportsbooks. Nearly every online sportsbook offers couriered check as a withdrawal method.

Checks can take upwards of 28 business days to be deposited into your gambling account, and the minimum deposits can often climb as high as $2,000.

Luckily, couriered checks tend to be much quicker as a withdrawal option. Most sportsbooks promise a 7 – 10 day turnaround when requesting withdrawal by check.

Ultimately, checks have to be handled manually by your sportsbook, which makes them a cumbersome and labor-intensive deposit method. As a result, many sportsbooks have gradually phased out this deposit option, opting for easier, electronic funding with less friction.

The most significant benefits of checks are the low fees involved and large deposit limits. If you’re not concerned with the longer processing times, checks present a reliable and widely-accepted option for both withdrawals and deposits at your sportsbook.

Cashier’s Checks, Money Orders, and Bank Drafts

Some sportsbooks will not accept personal checks. Because personal checks can be written for any amount (regardless of how much money is actually in your bank account), accepting them is not without risk.

Even if your sportsbook does not accept personal checks, they’ll likely be happy to accept a cashier’s check, money order, or bank draft. Each of these payment options is essentially a check whose value is insured by your financial institution.

A cashier’s check is signed by a cashier at your bank, certifying its authenticity and legitimacy. After this step is completed, the bank puts a hold on the amount requested, ensuring that the funds will be in your account when the check is presented to your sportsbook.

Money orders and bank drafts work slightly differently, but they also guarantee payment. You can purchase money orders at many convenience stores, while you’ll need to visit your financial institution to receive a bank draft.

Since cashier’s checks, money orders, and bank drafts are already certified by a bank, the sportsbook can cash them immediately, without the traditional waiting period of a regular check. In some cases, this may translate to a faster processing time for your deposit.

Find the Sportsbook Banking Method Best for You 

Traditional banking methods are just one of many convenient options when it comes to banking with your online sportsbook.

So long as you’re wagering with properly-regulated online sportsbook, credit card deposits and banking with eWallets like PayPal are also convenient options.

Explore the full range of sportsbook deposit and withdrawal options to find the one that’s best for you.


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