Online Betting Banking Methods & Best Payments Options for 2024

It’s never been easier to make a deposit at an online sportsbook. In fact, when tallied up, the online sportsbooks we review accept a whopping total of 27 different deposit methods!

A key component of planning how you make deposits is understanding exactly which deposit methods are commonly available to bettors and which ones aren’t. Want to start betting like a sharp? You’ll need loaded accounts at multiple online sports betting sites, so having the right information to plan your deposits is integral.

We’ve compiled data from all the sportsbooks we review to provide you with a handy guide on depositing methods. Read on to learn how to plan accordingly!

Jump to:

• Online Betting Deposit & Withdrawal Methods
• The Main Sportsbook Deposit Methods
• Online Sportsbook Payout Speed Comparisons
• States With Sports Betting Credit Card Bans
• Online Sportsbook Deposit Methods FAQ

Online Betting Deposit & Withdrawal Methods

The best online gambling apps will allow you to make secure payments and collect speedy payouts from your mobile device. Sportsbooks like DraftKings, FanDuel, BetMGM, ESPN BET, bet365 payment methods, and Caesars Sportsbook will offer a combination of the payment and withdrawal options listed in the table below.

Please note that not all sportsbooks will accept the same deposit and withdrawal methods. You’ll find some availability from the banking options listed in the table above, and we’ve specified a couple exceptions for sports betting payment methods like Amex and Venmo.

Whether you’re looking to deposit funds or collect winnings, the online sportsbooks we recommend are speedy and reliable, keeping your sensitive financial details secure. You can sign up with some of them below to make your first deposit, and claim a welcome bonus or any additional deposit bonuses they might offer.

Check with your sportsbook of choice to see exactly what deposit and withdrawal methods they offer.

Choosing a payment method to transfer money from your bank account to your sportsbook account will allow you to place wagers on whatever you’re interested in.

Processing times will vary depending on which deposit method you select. Some payment options like PayPal, debit/credit cards, and Apple Pay will be virtually instant, while others like bank transfer can take 3-5 business days.

Using eWallets like Neteller and Skrill, or prepaid card options like Play+ and paysafecard, are other good alternative options for funding your sports betting accounts.

The Main Sportsbook Deposit Methods

The most popular depositing method for bettors is via credit card. Thanks to online payment processors, all you have to do is enter credit card information into your sportsbooks’ cashier section, and you’re all set. As such, it’s never been easier to make a deposit with a credit card.

eWallets and traditional banking methods such as check and bank wire transfers come in line next. eWallets are payment services that are popular for European bettors, but generally not available to North American customers. One sportsbook app that has a varied selection is DraftKings, check out these DraftKings payment options.

We recommend using one of these deposit methods, as they are quick, easy, modern, and fairly painless. The sportsbooks we recommend are all regulated and trustworthy, so you won’t have to rely on alternative betting payment methods like cryptocurrency.

Secondary Deposit Methods

If you don’t want to use one of the more popular deposit methods, they are other ways you can deposit at select online sportsbooks.

The most popular US sportsbooks all offer prepaid cards for easy deposits and withdrawals. These options are great because you don’t have to enter your credit card details if you’re not comfortable sharing them online.

Person to person transfers (or money orders) are still available as a deposit method at over one-third of sportsbooks. If you were betting at an online sportsbook in 2010 – and not 2024 – we’d be confident in saying that close to 100% of sportsbooks would offer this deposit method.

However, as the sports betting market has ballooned in size and attitudes towards sports betting have changed for the better, more efficient methods with lower fees (think credit cards) have become more the standard. More payment providers are willing to cooperate with sportsbooks, making anachronistic methods like money orders or unreliable options like crypto unnecessary.

Online Sportsbook Payout Speed Comparisons

Making instant deposits with online sportsbooks is an important consideration, but many sports bettors are more concerned with collecting a speedy cash out. However, you should be aware that withdrawal options are typically more limited at legit sportsbooks, which is why you often won’t see credit as an option to collect your winnings.

See the table below for a comparison of the fastest payout sportsbooks.

You can always contact customer support at each of these operators if you’re experiencing any issues collecting a payout. You may also have to speak with other customer service agents on other platforms such as eWallets if you’re encountering problems with your PayPal account, for example.

From personal experience, I find that most online sportsbooks that also operate as PayPal betting sites are generally very good when it comes to their payout speed. The same can also be said for Apple Pay betting apps and Venmo betting apps.

States With Sports Betting Credit Card Bans

As legal sportsbooks expand across the US, many states have implemented or are considering credit card bans to protect sports bettors. Some gaming commissions see credit card bans as a way to promote responsible gambling, preventing players from going into debt to place wagers.

Here are the states currently banning credit cards as a deposit option for sports bettors:

• Iowa
• Maine
• Massachusetts
• Tennessee
• Vermont

Other states are looking at introducing credit card bans for online betting sites. Louisiana and Pennsylvania are considering similar restrictions, while Maryland has introduced an online gambling sites bill that would ban credit cards.

Why Does It Matter How Popular Specific Deposit Methods Are?

If you’ve glanced at our strategy guide, you’ll know that line shopping is an essential strategy for becoming a sharp. Of course, line shopping is impossible unless you have available funds at multiple sportsbooks.

To take the next step as a professional sports bettor, you’ll have to deposit at more than one online sportsbook. Knowing which deposit methods are ubiquitous and which ones are less common is essential in this process.

If you’re using a popular deposit method, you’ll be able to select from a much larger bank of sportsbooks than if you’ve chosen a less common one. You don’t want to miss out on an enticing line just because you don’t have the right deposit method!

How Did We Determine This Deposit Information?

We parsed the financial section of every single sportsbook we vet for safety, legitimacy, and reliability, compiled information on each available deposit method. After that, we averaged out the availability of each deposit method and put the data into this article.

We didn’t include every single available deposit method, as some are rather obscure. Instead, we opted to cover the ones that were common across more than one trusted online sportsbook.

Grow Your Bankroll Today!

If you’re going to be making a deposit at a sportsbook – no matter how popular the deposit method you selected – be mindful of the best sign-up bonuses available to you. By choosing the best promo, you can bolster your sportsbook’s bankroll as you start out.

If you have multiple online sportsbook accounts and you’re looking to dive into some next-level strategy, check out our guide on one of the most legendary betting techniques ever devised: arbitrage betting.

Online Sportsbook Deposit Methods FAQ

Have more questions about depositing funds to online sportsbook accounts? Check out these FAQs: