A common concern when dealing with online bookmakers is how to get paid. There are countless horror stories on betting forums of sports bettors being stiffed by offshore sportsbooks.
Bovada is one of the biggest online bookmakers targeting the US market. In recent years they’ve also opened up the sportsbook to bettors in Mexico and countries in South America.
Despite expanding into markets outside of the USA, the US dollar ($USD) is the only currency that is used when processing deposits and payouts at the Bovada Sportsbook.
Payout Methods at Bovada
Bovada has a great reputation when it comes to offering timely payouts.
Top Contests at Bovada
Ever since the Unlawful Internet Gambling Enforcement Act was passed into law in the USA in 2006, it has become more difficult for online sportsbooks to process payouts to players.
This has forced US sportsbooks to streamline the payout methods offered.
Bovada offers two ways to get paid - check by courier or Bitcoin.
● Check by Courier (Payout Time: 10-15 Days) - Bovada payouts by check are common and you receive one free check withdrawal every 90 days ($100 fee otherwise). The maximum amount you’re allowed to withdraw per check is $3000. Checks are processed weekly at Bovada and in 2019, checks have been received in less than 10 days on average.
● Bitcoin (Payout Time: 24-48 Hours) - A lot of offshore sportsbooks now offer Bitcoin (BTC) as a deposit/payout method. Bitcoin is the quickest payout method at Bovada. In some cases, you’ll receive the BTC in less than 12 hours. Players can request one BTC payout every three days at the Bovada Sportsbook and the maximum withdrawal is $9500 per transaction.
It should be noted, that in order to use Bitcoin as a payment method, you need to have successfully deposited using BTC already. If you deposit by credit card, you can’t use BTC to receive payouts.
The payout methods at Bovada are limited, but that’s the case at every online bookie that targets bettors living in the United States. The number of options is irrelevant anyways. Receiving timely payouts within the predetermined timeframes is much more important to bettors in the USA.
Betting On Horse Racing at Bovada’s Racebook
If you want your money quickly, Bitcoin is the preferred option. However, while you’ll receive the BTC from Bovada in 24-48 hours, you still have to turn the Bitcoin into $USD if you want cash.
The most common Bitcoin exchange in the USA is CoinBase. They offer bank account (ACH) payouts that take 4-5 business days to process, which is still quicker than waiting for a check.
Bovada Payouts Rating: A+
Payouts at Bovada have been consistent for many years now. In fact, in 2019, payouts have become quicker on average than in past years, which shows Bovada is still looking to improve.
While having more payout methods at Bovada available, that’s not a reality for US bettors.
If you have experience with US sportsbooks, you know how bad payout times can be. Bovada is one of the fastest paying sportsbooks in the USA and there’s rarely a problem or delay.