Sports Betting Deposit & Withdrawal Methods
Sportsbook Banking - Sports Betting Deposit & Withdrawal Methods
This section provides the latest updates on what you as a sports bettor can do to make sure your online sports betting account stays funded.
With Visa and MasterCard becoming more difficult to use for online sports betting or funding your sports betting account. A new door has been opened to solve this problem, the answer is E-wallet or Echecks a third party processor.
Sportsbook Deposit & Casino Deposit / Withdrawal Solutions
As any regular online sportsbook and casino player knows, moving money freely in and out of online sportsbooks and casinos is getting tougher all the time.
All major credit card companies are requiring that transactions involving Internet-based sports betting businesses be identified and gaming transactions must be red flagged with a specific (7995) transaction code.
The major banks in turn are restricting or refusing those transactions and that could effectively remove the major credit cards from the online gaming business cycle. Here are some other solutions to depositing online with sportsbooks and casinos such as "e-cash" from services like MoneyPak, Echecks, Neteller, Person to Person , Direct Transfer and others.
In any case, the bottom line is that the casino is dealing with the e-cash provider and not with the credit card companies.
That keeps everyone happy because the e-cash providers have more-or-less been accepted by the credit card companies, and thus far, moving money from credit card to e-cash system comes off without problems.
So from the player's point of view, everything gets simple again by using the e-cash provider as a new middleman between them and the casinos.
Other payment Solutions
An e-cash provider is a third-party that handles your money. You register with the service and supply a credit card and or banking account. Once approved, you can deposit money into your e-cash account via a credit card charge or bank account withdrawal.
The other option is to give someone (such as a casino) your e-cash account number and approval to withdraw funds. They request the money from the e-cash people, who in turn withdraw the funds from your credit card or bank account.
Netteller or Nexum can be ideal for the online player, largely because it's easy to use. Assuming the player is using one of the casinos that accept Neteller or Nexum, the player can move their funds back and forth via e-mail.
Most participating sportsbooks and casinos seem happy with the arrangement and reports are that they typically respond quickly enough to withdrawal requests.
But the player still doesn't have the money in their hands. For that they have to request a withdrawal from Neteller or Nexum Financial.
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