Deposit & Withdrawal Methods at Gambling Sites

Using a credit or debit card to fund your gambling account is the most popular and widespread method, which shouldn’t be a surprise based the number of people who possess MasterCard, Visa, and American Express cards. Obviously, the size of your deposit can’t exceed your limit if you opt to use a credit card or the balance of your bank account if you go with a debit card, but otherwise, this method is very fast and completely safe.

Making a Visa or MasterCard deposit is simple. All that is required is your billing address, card number, expiration date, and Card Verification Value (CVV) back-of-the-card code. Unlike in the case of e-wallet transactions, you won’t be forced to sign up for third-party-site services.

Bitcoin is an open-source digital currency system, which was introduced in 2009 by an anonymous individual or group known only as Satoshi Nakamoto. Unlike the traditional fiat currencies, the system isn’t controlled by a single entity like a government or central bank. The entire network is completely decentralized, with individual users volunteering their computing power to execute and record network’s transactions. This means that nobody is capable of singlehandedly influencing it by adjusting the supply or exchange rates.

Another advantage of using bitcoins over fiat currencies is that all the transactions are pretty much anonymous. Bitcoin users aren’t required to identify themselves by name or address. Furthermore, it is worth pointing out that while bitcoin started out as a rather gimmicky currency and wasn’t initially worth much, the total market capitalization of bitcoin briefly exceeded $1 trillion in February 2021 when each coin was valued at more than $58,000. Consequently, it should come as no surprise that further sub-units have been introduced to facilitate smaller transactions.

E-wallet are very popular with online gamblers due to extremely high processing speeds and relatively low fees. Most casino, sportsbook or poker rooms will receive your money instantly, which allows members to start playing for real money following their first deposit.

However, e-wallet sites like Neteller or PayPal are also very picky about the gambling sites and countries they trust. Consequently, if your region has stringent gambling laws, odds are high that this deposit method won’t be available. For example, US-facing gambling sites are notorious for refusing to accept e-wallet payments due to the Unlawful Internet Gambling Enforcement Act. These restrictions don’t typically apply to European players.

Prepaid cards are very similar to debit and credit cards, but allow you to go about funding your online gambling account in a more discreet manner. Most sites that accept regular credit/debit cards will also accept a prepaid Visa or MasterCard. The entire process is as simple as acquiring a card, loading it with funds and making a deposit at the gambling site of your choice.

Unlike gift cards, prepaid cards can be reloaded both locally and online. A good example would be a Visa Prepaid Card, which can be loaded at any location sporting a Visa ReadyLink symbol.

Remember, some gambling sites won’t accept every prepaid on the market. We’d advise contacting customer support to confirm that the card you chose will work. Most online casinos support staff can be contacted via email, phone or LIVE chat.

With American gamblers limited in the number of deposit methods to choose from, money orders are a very popular option. The main advantage of making a payment via a Western Union or Moneygram® money order is their reliability and decades of experience in the space. You can’t go wrong with a company that offers over 270,000 outlets all over the world and earn $5 billion every year.

However, sending money via a money order is slightly more complicated than using your credit card or e-wallet account. We’ll use a Western Union example to walk you through the entire process.

Credit card transfers and deposits are often declined due to insufficient funds – basically, you won’t be able to exceed your credit limit or deposit more than you have in your bank account.

Nevertheless, if you’re sure that you have enough funds to make your payment, the first thing you should check is whether you’ve correctly entered your billing address and whether the address matches the one you used when signing up for your gambling site account.

Many gambling sites have restrictions in place on the maximum allowed deposit, which means that you won’t be able to pay more than a certain amount with a single transaction. Usually, this limit is set between $1,000 and $2,000, and unfortunately, there’s no way to circumvent it other than by making two or more payments.

If you’re a high roller and you’d like to deposit more, I’d advise looking for a site that doesn’t have any maximum deposit restrictions in place. Whether you’re from Europe, Asia or the United States, finding a reliable poker room, casino or a sportsbook that doesn’t force you to limit your payments shouldn’t be an issue.

While most deposit methods are instant, which means that funds will be credited to your account the moment you confirm the transaction, some options will require you to wait for the money to go through. For example, a deposit made with a credit card will be finalized after being approved by your credit card company, while a bank wire transfer may take up to five business days.