By Dave Schwab
Whether you are just getting your feet wet in the world of Internet sports betting or a seasoned sports gambler with years of experience working with an online sportsbook, you should always be aware of the different deposit options you have when opening up or funding an existing online sports betting account.
While many of today’s top online sportsbooks offer many of the same deposit options across the board, there are some differences from site to site. The main thing that you will want to get a really good feel for is each sites rules and regulations surrounding each of the deposit methods they offer.
A good starting point for researching any online sportsbook’s deposit options is the financial or banking section on their website. This section is usually clearly marked somewhere on the site’s home page. It should not only detail the different options it offers for making a deposit, it should clearly state what type of documentation you may need to provide to verify your identity.
All the terms and conditions that go into betting sports online are basically twofold. They are first and foremost designed to protect the book from any attempts at fraud; however they are also in place to protect you as a sports bettor. This is why is it is very important to always perform your due diligence when it comes to choosing an online sports betting outlet. For the most part, the online sportsbook industry as a whole does a very good job when it comes to the financial end of sports betting, but you should still research each site to make sure that it is a good fit for your particular sports betting needs.
One of the most common deposit options is through the use of credit card. These types of transactions can be verified in a matter of seconds to activate your betting account. This is probably the easiest and quickest way to fund your betting account, but you might want to think about using a specific credit card just for sports betting separate from your other cards as a way of tracking any online activity with your betting account.
The next deposit option that most online books offer is a cash transfer directly from one of your bank accounts right into your online betting account. The main concern here is that you will want to make sure that you check for any fees that may be associated with this type of transaction either with your local bank or with the online book.
Another form of a cash transfer can be in the form of a money order or cashier’s check through services such as Western Union or MoneyGram. These are safe and secure ways to move money in a more discretionary fashion; however you once again should be fully aware of any fees associated with any of these services.
One of the fastest growing deposit options in the online sports betting industry is Bitcoin. This is a digital form of currency that is created and held electronically. Dollars can be easily exchanged for Bitcoins, which can be held as online cash. They can be obtained from Bitcoin retailers as well as from Bitcoin ATM machines. To find out more about this highly popular method of moving money online go to coinchapter.com.
Just about every online sportsbook will offer a free bet bonus on your initial deposit up to a fixed amount. Many will extend this offer on additional deposits known as a reload bonus. While these bonuses can be a great way to extend your betting bankroll, it is very important that you fully educate yourself about all the terms and conditions surrounding this offer to determine if it is right for you.