Deposit Methods

***Updated: September 11th, 2020***

The iGaming industry is very simple: the House holds the advantage on every product and over time, more money is won than lost. The sole requirement to guarantee revenues is ensuring people can easily deposit in the cashier so they can go off and enjoy their favorite games.

Consequently, the first order of business for online casinos is to establish reliable financial processes that are easy for customers to understand and complete quickly. This is why a wide selection of options are always listed, allowing everyone to use ones they’re most comfortable with.

Key factors are documented in each guide above, including critical details such as time frames and level of privacy. Beyond these major categories, a few other items to examine are daily and weekly limits, unique bonuses, and ability to also receive payouts. For example, winnings cannot be withdrawn through credit cards like VISA or American Express.

It’s only natural for those inexperienced in the United States to be protective of bankrolls, which is why this simple guide to casino deposits was created, answering questions our readers routinely have. A lot of queries revolve around legality so let’s put those concerns to rest right now.

Confusion started in 2006 when the Unlawful Internet Gambling Enforcement Act (UIGEA) was passed in the middle of the night, tacked onto the SAFE Port Act, obviously having nothing to do with the main topic at hand. Once enacted, the UIGEA restricted banks and other institutions from processing financial transactions between citizens and virtual bookies, thereby making it extremely hard for customers to fund accounts, even when trying the same plastic traditionally working before.

The industry basically ground to a halt overnight as credit card companies such as MasterCard stopped knowingly approving purchases at iGaming sites welcoming Americans. What was once the easiest method was now shut down and millions of players using it were left twisting in the wind.

Back then, VISA was the most popular way to internet bet because it had the highest acceptance rate by far and purchases were immediately approved with no issues whatsoever. However, after new legislation took effect, failure rates went through the roof and it was virtually impossible to utilize. Then things got really crazy shortly thereafter as huge deposit bonuses at U.S. online casinos rocketed sky-high to incentivize folks to try different credit cards if the first was declined. It was quite common to see amounts ranging anywhere between 500% and 2,000% depending on how desperate they were, with countless operators forced to permanently close their doors during the turbulent time.

A few weeks later, major eWallets including FirePay, NuCharge, and NETeller pulled out of the American market and most totally ceased to conduct business, never heard from again. Sadly, many never completed the final payouts owed and ran off with balances, so in memorandum, here is a list of methods no longer available that some think still exist but actually folded long ago.

Regardless of how events played out, it’s important to remember nothing about the legality of individuals sending funds to operators or placing wagers was ever addressed, since restrictions were only placed on processors facilitating transactions. As a result, it’s 100% legal for anyone living in the States to join real money casinos and ironically, it always has been. A lot of misinformation and confusion just surrounds the subject.

Best Sportsbook Deposit Methods for U.S. Players

Numerous deposit methods are available to U.S. players nowadays because they’re the business’ lifeblood. Rest assured operators are constantly working hard to make topping up balances effortless, despite what the overturned UIEGA attempted to do.

Therefore, here is the current list of betting sites with easy banking options featuring a variety of accepted payments. This index also considers important factors such as speed, fees, convenience, trustworthiness, and more. These independent rankings are updated regularly because monetary techniques change and companies constantly try to keep up.

It probably won’t come as any great surprise that requesting winnings is the harder part of the undertaking, which obviously isn’t ideal for anyone involved. However, it’s presently the situation for U.S. residents so it has to be tolerated and skillfully navigated.

That said, any operator reviewed is 100% trustworthy and holds an A+ rating for paying winning members (eventually). Just because it takes them a little while doesn’t mean they don’t pay, it simply means patience is required. Well, unless using the world’s greatest electronic currency…

Gamble Online with Cryptocurrency

All the annoying effects of UIGEA are immediately nullified for those knowing how to buy cryptocurrency and top up accounts. It removes financial institutions from the equation like banks and credit card companies and allows more control over the process, clearly making it the top choice available today.

The true strength of gambling with crypto is complete privacy since no one else is unnecessarily looped into details. This means no husbands or wives, no bank managers, and no Uncle Sam. What is sent and received is solely known by the parties on each end.

Fastest Casino Deposit Methods

The virtues of cryptocurrency transfers must be further commended because they’re typically confirmed by operators and added to balances in under an hour. This was absolutely unheard of a few years ago and it’s revolutionized the entire industry. Previously, the fastest mechanism to get cash in was by credit card but even then actual transactions wouldn’t technically go through for weeks and would basically be “fronted” until cleared.

Before Bitcoin came into existence, many had to settle for ridiculously slow procedures like money orders and wires that could take days to arrive instead of minutes. This made it impossible for professionals to shop around for advantageous odds at sportsbooks and move rolls quickly to get down. Thankfully, it’s no longer necessary to hop in a car, drive to a Western Union outlet, fill out forms, and then pay enormous fees, just to stake a few game lines.

Deposit Fees at Betting Websites

Yet again crypto has to be praised as it has the lowest fees of any option today. The bulk of eWallets and 3rd parties bill around 2 to 5% for the privilege of using them but if gambling at USA sportsbooks with Alt Coins costs are much lower and blockchain wallets only charge pennies on the dollar.

Virtual currencies are even more beneficial in the modern climate since a new policy has become commonplace with operators passing credit card fees along to clients since they’re tired of footing the entire bill. These can get very expensive if something like American Express is used as it sometimes costs 6% of totals, competitors normally charging around 3%.

It doesn’t stop there though and plastic becomes even pricier thanks to conversion charges passed onto purchasers. This confuses many since accounts are in USD and they’re sending the same, obligatory conversions entering the equation not making sense.

This happens because most places bill cards at an equivalent of USD but transactions are actually in another currency. Therefore, banks or card companies charge fees to convert it (even though originally in USD) to whatever legal tender the site is using (Euros are popular) and the whole thing is ultimately treated as an “international purchase”. Unfortunately, this has become standard practice and many don’t even realize it’s happening as it unfolds behind the scenes.

It should now be crystal clear why cryptocurrency is absolutely the best way to go.

Secure Online Gambling

Rest assured no matter which method is used, assets are always 100% safe and secure due to software utilized. The same encryption technology as established financial institutions is used so transferring is exactly like paying bills through personal banks online.

Regardless of tools employed, habitually follow the customary rules of changing passwords often and never sharing login information with anyone. Also, try to avoid signing into anything important from a shared WiFi or public location  as it’s impossible to know how protected their infrastructure really is.