How to Deposit and Withdraw Online

You will need to fund your new sports betting account before you can start placing bets on your favorite sports. This Online Betting 101 guide explains how to make deposits at an online sports betting site and how to withdraw your money after winning.

How to Deposit at an Online Sportsbook

Head into the “My Account” or the cashier section of an online sportsbook and select the “Deposit” option to fund your account.

You can type in the amount you would like to deposit and select your method. These are the most common options provided by sports betting sites:

  • Visa
  • Mastercard
  • American Express
  • Discover
  • Play+
  • PayPal
  • Skrill
  • Neteller
  • Online Banking
  • E-check
  • Wire Transfer
  • P2P Transfer
  • Bitcoin
  • Altcoin (ETH, BCH, LTC etc.)

You can then click to confirm the transfer and the funds should arrive instantly. The best online sportsbooks do not charge for deposits.

The minimum deposit is normally $10, but it is higher at some sportsbooks, and the maximum depends on the method selected.

How to Withdraw at an Online Sportsbook

Head back into the cashier or the “My Account” section to cash out your winnings. Select the “Withdraw” option, type in the amount you would like to be paid and choose your method. The most common payout options are:

  • PayPal
  • Skrill
  • Neteller
  • Play+
  • Online Banking
  • E-check
  • Wire Transfer
  • P2P Transfer
  • Paper check by courier
  • Bitcoin
  • Altcoin (ETH, BCH, LTC etc.)

Some options will be free, but others – such as a wire transfer or a paper check in the mail – will often incur a fee.

The minimum withdrawal varies from one sports betting site to the next, while the maximum payout often depends upon the method selected.

The withdrawal request will need to be processed and approved. The funds will then be released. The quickest options are Play+, crypto, PayPal, Skrill and Neteller. Checks and wire transfers can take several business days.

Leave a comment