When we look at all ways a sports bettor can open an account with an online sportsbook or casino, the options are many. Technology has exploded, and the digital age is upon us with the means to transfer funds, make a bet using a mobile device and use e-wallets, prepaid gift cards and vouchers to start off your gambling entertainment.
At MyTopSportsbooks, we are going to draw attention to an old form of funds transfer that is making a comeback, the bank wire/bank transfer deposit method, to help start your online account.
A wire transfer used to take forever and a day to process because the system wasn’t set up for lightning-quick money transfers. In this article, we will look at how a bank wire bank transfer works and how sports bettors can take advantage of the opportunity to use the payment method for wagering instead of a Visa or MasterCard credit card for online gambling.
Using a banking app for banking options at an online casino as a method of payment at online sports betting sites can be the easiest payment option available.
Bookmakers and Bank Wire Transfers
Using a wire transfer requires banking details like an account number to start an online account. It is popular with a segment of the gambling community, but, like everything, you must be cautious when sending money anywhere.
Security is essential, and when you see your bookie with top-notch security, it breeds confidence. So, before you send a payment, do your homework to find out what type of security arrangements your bookie has in place.
US Sites That Accept Bank/Wire Transfers
Best Bank Transfer Betting Sites for Online Payments
Bank Transfers and Sports Betting at Gambling Sites
Due to the enhanced security features of the bank, using a wire transfer is popular because it is a trusted source when handling a customer’s money. Betting sites that accept wire transfers in the US are plentiful – above, we noted some of the most popular US sites that accept wire transfers. You want to deal with a licensed, regulated and legal site that operates in your region before you get on board with the site.
Sportsbooks that offer many different deposit methods should stand out from the crowd, and that is something to look for – customizing your experience to fit you and your gambling preferences. Options like prepaid cards, debit cards, e-wallets like Neteller, Skrill and PayPal and bitcoin say legitimacy as a frontline sportsbook or casino.
The withdrawal method for your bank wire on your first deposit should be easy to use and understand at sports betting sites.
Bank wires/ban transfers aren’t the splashy payments like the digital variety mentioned earlier, but they get the job done. You will read a lot about security and safety for the humble wire transfer, and that is because it can be viewed as the safest method of funds transfer. Due to the safety features built-in, the reliability factor is 12 on a scale of 1-10, and wire transfers are faster than in the past.
If you are concerned that you can’t withdraw winning bets when the time comes for your payout, you need not worry. Bookies that handle wire transfers are equipped to move your winnings from your sportsbook account to your bank account quickly. One problem that some gamblers find off-putting is the time lag between cash out and funds transfer completion.
It can take 3-5 business days for your winnings to show up in your bank account, which can be inconvenient if you have a time-sensitive bet to make elsewhere.
The Advantages of Bank Wire Betting
- No limits on the amount you deposit or withdraw.
- Bank wire deposits are credited to your account instantly
- Ease of usage making deposits and withdrawals
- A free service in many cases, no transaction fees.
The Disadvantages of Bank Wire Betting
- The time lag is a downside to using a bank wire withdrawal.
- Using other methods like an e-wallet adds another layer to the deposit process. Some methods have you visit their website, sign in, and add a deposit so you can make a sportsbook deposit.
- If you use a wire transfer, you will be using your bank’s app and entering the wrong information could be trouble if it must be retrieved.
Rewards Using Bank Transfers
Some of the major casinos and online sportsbooks will offer rewards for first-time sports bettors using bank transfer/wire transfer for opening an account. You could receive a welcome bonus, a deposit bonus, promo code for other bonus offers from BetOnline, BetMGM, FanDuel, Caesars and others who dominate the landscape in the gambling industry.
Topping up your bankroll is one way a sportsbook builds loyalty with its players, as there is always some free gift to get you gambling and keep you gambling when using a bank wire.