How to Deposit Real Money to Your Betting Account

There will likely come a time when you decide it’s time to make the jump to real money betting. Maybe that time is now and that’s why you’re here. If so, you’re in luck. I’m going to give you the full run down on the various options for funding your online wagering account.

One of the many advantages of doing your betting at US-legal sites is the ease of banking. Licensed betting sites operate in the open and don’t have to jump through all sorts of hoops just to process a simple deposit. Funding your account at a legal betting site is quick, cheap and easy.

Legal Betting Sites with Fast Deposits:

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The same also applies to getting paid. If you end up winning money and want to cash out your winnings, all you have to do is visit the cashier and tell them how you want your money. You can have the money sent to you electronically or arrange for a paper check to be delivered to your front door.

If you’ve ever had the misfortune of dealing with an unlicensed offshore gambling site, you probably already know how much of a pain the whole banking process is. It can be a nightmare between rejected credit cards, sketchy cash transfers to Costa Rica and more. Getting paid is even worse. Sometimes, people never get paid.

Once you decide you’re ready to give real money betting a shot, the first thing you’ll need to do is sign up for an account at your favorite betting site. Log in to your brand new account and look for the word “deposit” or “cashier” inside your account area. Choose that option and then you’ll be taken to an area where you can choose a deposit method and complete your deposit.

Deposit Methods

Deposit methods are the means by which money is moved from you to your betting account. Credit cards, debit cards, PayPal and electronic bank transfers all count as deposit methods. They all work in unique ways, but they all share the same goal of moving money from Point A to Point B as quickly and cheaply as possible.

Choosing the best deposit method is a matter of considering your needs. If you have a credit card or bank account, you won’t even have to leave the house to fund your account. If you have cash that you’d like to use, there are options for that as well. Some sites even accept paper checks sent by mail. Read on for overviews of all the most common payment methods.

Credit or Debit CardOnline Bank TransferPayPal
PayNearMeGreen Dot @ the RegisterWire Transfer
Check or Money OrderVanilla ReloadNeteller
Online Bill PayPayLucky
Walk-In

Credit or Debit Card

The quickest and easiest way for most people to fund their accounts is with the basic debit/credit card deposit. All you need is a card with the Visa, MasterCard, American Express or Discover logo and a little money. Type in the numbers on the card, choose an amount to deposit and your account will be funded instantly.

This is the most common deposit method for US betting sites. I still haven’t found a site that doesn’t accept all major debit and credit cards. If you’re new to online gambling and want an easy way to get started, this is the method for you.

Accepted by:

  • Every betting site

Fees:

  • Percentage based or flat fee in the $5 range.

Online Bank Transfer

Bank transfers send money from your bank account to your betting account and skip the credit card. This method has you type in your bank account and routing numbers before choosing an amount to deposit.

The big advantage the bank transfer deposit has over credit cards is that it’s free. Your funds are transferred instantly and you don’t have to pay. Different sites call this option different things, but the basic idea is the same wherever you play.

Accepted by:

  • BetAmerica (eCash)
  • TwinSpires (EZ-Money)
  • TVG (BetCash)

Fees:

  • None

PayPal

PayPal is the famous e-wallet that you’ve probably seen on the checkout page of many a retailer website. If you’re unfamiliar with PayPal, it’s a sort of e-wallet that allows you to store funds online and then move them to and from various betting sites.

A PayPal account comes in handy because it can be used to make instant deposits and receive instant withdrawals. It has wide acceptance, processes transactions quickly and can be used to quickly move money from one betting site to another. Plus, you can use it to send money to friends and family.

You can learn more and sign up for free at PayPal.com.

Accepted by:

  • FanDuel
  • DraftKings
  • Most fantasy sports sites
  • DerbyGames.com
  • WSOP.com
  • CaesarsCasino.com
  • HarrahsCasino.com

Fees:

  • Most sites cover all PayPal fees

PayNearMe

BetAmerica.com recently added PayNearMe as a deposit option. This method allows you to take cash to a local 7-Eleven or Family Dollar to add funds instantly to your wagering account.

See this page for a list of locations.

Accepted by:

  • BetAmerica

Fees:

  • Free for BetAmerica customers

Green Dot @ the Register

Green Dot deposits can be made in-person at thousands of retailers across the nation. Just find a location and visit the retailer in person to fund your account. You’ll find Green Dot at places like Walmart, Walgreens, 7-Eleven and so on.

Accepted by:

  • BetAmerica
  • TwinSpires
  • TVG

Fees:

  • $4.95

Wire Transfer

Wire transfer deposits work best for transferring large sums of money. If you want to deposit more than the maximum amount accepted by other deposit methods, the wire transfer is the way to go. The downside is that you have to visit your bank in-person to initiate the transfer.

Accepted by:

  • BetAmerica
  • TVG
  • TwinSpires

Fees:

  • Your bank may charge up to $30 but most sites refund any fees for deposits greater than $1,000

Check or Money Order

BetAmerica and TwinSpires accept old-fashioned paper checks and money orders sent through the mail. The biggest disadvantage here is that you’ll have to wait anywhere from 5 to 10 business days for the check to be delivered and cleared.

Accepted by:

  • BetAmerica
  • TwinSpires

Fees:

  • None

Vanilla Reload

Vanilla Reload is a prepaid debit card that you can purchase in-person at retailers such as Walgreens and 7-Eleven. This is another solid option if you prefer cash or don’t feel comfortable giving the site your personal credit card number.

Click here to find a location near you.

Accepted by:

  • BetAmerica

Fees:

  • $3.95

Neteller

Neteller is an e-wallet that works in a similar vein to PayPal. There was a time when Neteller didn’t accept US customers but that changed in 2014. Neteller may now be used by Americans to make deposits to licensed betting sites.

Accepted by:

  • BetAmerica

Fees:

  • 5% to 3.5% to upload funds

Online Bill Pay

Two horse racing sites accept deposits using your bank’s online bill pay feature. You’ll need to have a bank account with the bill pay feature at one of the site’s supported banks. You can see if your bank is accepted by logging in to your account and selecting bill pay as your deposit method.

Accepted by:

  • TVG
  • TwinSpires (EZ-Bank)

Fees:

  • None

PayLucky

PayLucky is an online wallet solution that offers safe, instant payments to betting sites via credit card, debit card and bank transfer. If you have had trouble with declined credit card payments in the past, PayLucky is worth a look. They are owned by First Data Corporation, which is the world’s largest credit card payments processor and have a high acceptance rate for credit card deposits.

Additionally, PayLucky comes in handy for withdrawals. They can send payments straight to your bank account as well as issue prepaid debit cards that are connected to your PayLucky balance. You can use this debit card to make purchases and withdraw cash using your PayLucky balance. See this post for more information about how it works.

Accepted by:

  • BetAmerica

Fees:

  • $1.95 per month for your prepaid debit card if you have one

In-Person Deposits

TwinSpires and TVG each have a handful of physical locations in the US that you can visit to make free, instant cash deposits. If you happen to live near a payment location, you can stop in any time to fund your betting account. Log in to your account, visit the cashier and choose the walk-in deposit to see a list of locations.

Accepted by:

  • TwinSpires
  • TVG

Fees:

  • None