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Bet365 are the worlds leading betting site and their experience and size certainly show when it comes to their banking facilities for punters. With bet365 they don't have the overall lowest deposit limit, some operators advertise £1 or less, but this is usually by a specific method (cash in store or bank transfer). In the online betting world, there are many ways to boost your bankroll. Of course, you can scan the odds, pick a winner and sail off into the sunset with a smile on your face, but that's not the only way to play the game. Here at Oddschecker, we've got bonuses galore and one of the most impressive is our free bet no deposit deals.
- No Deposit Bonuses: Typically, a small bet (think $10 to $25) just for registering. Risk Free Bets: Here you’ll bet with your own money, if your selection loses, the sportsbook will refund your stake in the form of a new bet. Matched Bet Offers: Sportsbooks will offer a free bet based on the amount you initially bet.
- Jul 11, 2016 Online sportsbooks offer these no deposit betting bonuses and free bets so that you sign up with their sports betting website and hopefully deposit your own money into your account. As soon as you’re betting with your own money, the sportsbook is profiting.
All online sports betting apps offer a variety of deposit methods. While some states restrict certain options, such as Iowa outlawing credit card transactions, most states like Virginia and Michigan have their choice of debit or credit, bank transfer, e-wallets, and beyond. But what is the best way to deposit at an online sportsbook?
What Makes The Best Deposit Method for US Sports Betting?
To determine the deposit option for a sports betting app, we considered the following factors:
- No transaction fees: Even a 1% transaction fee can add up significantly.
- High success rate: Issuing banks will often block credit and debit card transactions at online betting sites.
- Ability to withdraw: Some banking methods are deposit-only, which means providing information for multiple banking methods.
- Keeping Track Of Betting: Separating your betting money from other finances is a great way to avoid problem gambling.
Best Sportsbook Deposit Method: PayPal (And Other E-Wallets)
PayPal and other e-wallets, such as Skrill and Neteller, are the best deposit method for online sportsbooks. However, you first want to add money to your e-wallet account through online bank transfer, not via credit card. That will add money to PayPal for free, then you can transfer that money into your sportsbook account.
If an online sportsbook accepts PayPal or another e-wallet, then the transactions should work 100% of the time. You can also use e-wallets for both deposits and withdrawals.
Having a separate account for your betting funds is also a good way to track your expenses. You can quickly and easily see how much you put into your e-wallet from your bank versus the sportsbook. Not only will this help you not overspend, but it can also be convenient come tax time if you have net winnings for the year.
Another Great Option: Online Bank Transfer
With onlinebank transfer, you skip the step of transferring funds to your PayPal account, but you also sacrifice the ease of tracking your betting expenses. This makes it easier to overspend on a sports betting app, so it should be used with an extra level of caution.
To use online bank transfer, you simply use the login credentials of your bank. Online bank transfer is usually fascinated through a third-party processor, such as Zelle, but transaction fees are still zero.
Underrated Deposit Method: Cash
If you really want to make sure you’re staying within budget, consider limiting your deposits to cash. And if you didn’t know you could bet at an online sportsbook in cash, now you know!
You can deposit in cash in one of two ways:
- Paynearme
- Cash at the casino cage
For Paynearme, you visit a participating retailer, such as 7Eleven, CVS, or Walgreens, and pay via cash. You’ll receive a receipt with a barcode that you scan to add the funds to your account. However, Paynearme is not available for cashing out winnings.
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The cash at the casino cage option is usually available when the sports betting app is partnered with a land-based casino or retail sportsbook.
For example, BetMGM New Jersey allows you to deposit and withdraw in cash at the casino cage in Borgata Hotel Casino & Spa in Atlantic City.
To deposit in cash at the casino cage, you give the cashier your account information, hand them cash, and the funds are made available in your account. You can also withdraw the same way – except the cashier hands you cash, not the other way around.
The Worst Deposit Method: Credit Cards
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For all the reasons PayPal is the best deposit method for sports betting apps, credit cards are the worst. When you use this method, you can expect:
- Ridiculous fees: Credit card deposits usually count as cash advance, which not only comes with fees, the interest rate is far higher. Both can add up to a significant degree. And compared to $0, even $10 is significant.
- Low success rate: Banks usually reject credit card payments at online casinos, a policy that’s due to many sports bettors playing at unsafe, illegal sites.
- Inability to withdraw: Credit cards are strictly a deposit option, so if you do use it as a deposit method, you’ll have to choose something else for cashing out anyway.
- Exceedingly easy to overspend: Credit cards allow people to spend more than they actually have, which is inherently dangerous when it comes to betting.
Online Betting Without Deposit Options
In short, do not use a credit card. Opt for e-wallets like PayPal, online bank transfer, or cash instead.