Wyrz is an online betting payment method that bettors only encounter when their debit or credit card deposits fail. It’s usually unexpected because one minute, the bettor is finishing a credit card deposit, and the next, their sportsbook is urging them to complete the transaction via something called “Wyrz.”

If you have recently encountered a Wyrz betting deposit and are wondering what it’s all about, you have come to the right place.

To answer the big question upfront: Wyrz is legit. It’s just a no-cost workaround some online sportsbooks and racebooks offer when customers’ debit or credit card deposits fail due to outdated bank policies.

Continue below for all the details, including how it works and which betting sites accept Wyrz deposits.

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Legal Wyrz Betting Sites

Online sportsbooks introduced the Wyrz deposit method shortly after the US legalized sports betting in response to widespread credit and debit card transaction failures caused by outdated banking policies.

Rush Street Interactive debuted the concept in 2018 and later expanded it to BetRivers Sportsbook. Other online sportsbooks followed suit, but uptake has slowed since debit and credit card acceptance rates have improved significantly over the years.

Additionally, online sportsbooks have expanded their deposit methods over time and now have plenty of alternatives to offer to customers. For instance, it’s common for sportsbooks to recommend Play+ Card deposits to customers who have problems depositing with their credit cards.

Other deposit methods like PayPal, Venmo, Apple Pay, and online banking avoid the problem altogether by transferring money directly from customers’ bank accounts to their online sportsbook and casino accounts.

How Wyrz Deposits Work

The basic premise of Wyrz is this: if a credit card deposit is declined, the customer may still complete the deposit by routing the transaction through a digital prepaid card en route to funding their online betting account.

As a result, Wyrz is not a default payment method listed in online sportsbooks’ cashiers. Instead, Wyrz is a quick workaround that allows bettors to fund their online betting accounts with the same credit or debit card that just rejected the transaction.

A Rush Street Interactive press release from 2018 explained the concept in simple terms:

“Players simply enter their credit or debit card information, and if their card cannot be accepted directly, they are seamlessly redirected to purchase a Wyrz prepaid card, with no additional fees or charges – thus enabling them to deposit funds into their BetRivers.com account.”

Unlike standard prepaid cards, Wyrz does not require customers to exit the cashier, load funds to a separate card, and pray the deposit goes through. Wyrz betting sites integrate it into the cashier to make the transaction nearly seamless.

When debit and credit card transactions fail at Wyrz-enabled sportsbooks, the cashier’s page invites customers to purchase a virtual Wyrz card for no additional fee. Bettors can follow the onscreen instructions to fund the virtual card and complete the deposit with almost zero additional waiting time.

Wyrz Solves Problems Depositing with Cards

Online sportsbooks launched Wyrz to address the issue of customers having problems depositing with credit cards and debit cards despite having enough funds to cover the transaction.

Declined deposits emerged as a significant problem when the first few states legalized online gambling due to outdated banking policies.

The root of the problem traces back to the UIGEA, a 2006 federal law that aimed to stamp out illegal gambling websites by targeting their money supply. At the time, hundreds of offshore gambling sites offered online sports betting, casino games, and poker to US residents contrary to US law.

To make a long story short, the UIGEA ordered the Treasury and Federal Reserve Board to form regulations requiring financial institutions to implement policies blocking transactions related to illegal online gambling. Add to that banks’ preexisting concerns regarding the Wire Act, and it didn’t take much convincing to get financial institutions to fall in line.

Even after the US Supreme Court overturned the federal sports betting ban, and despite additional states legalizing online casinos, many banks never updated their policies. In addition, some banks still block all deposits to online sportsbooks because they consider gambling-related transactions too high-risk.

Here’s how former Rush Street Interactive COO Mattias Stetz explained the problem in 2018:

“At some point (the federal government) wanted to shut down illegal gambling in the U.S. Banks became very subjective to what transactions they would or wouldn’t approve. However, since the legal and regulated New Jersey online casinos launched, some banks still haven’t changed their controls to reflect the new legal status.”

Declined credit and debit card deposits continue to be an issue even in states where online betting is 100% legal. This is why legal online sportsbooks introduced Wyrz payments.

Wyrz is specifically designed to make it easier for players to deposit by avoiding the issue altogether. When a player experiences a declined deposit, Wyrz is brought in to route the transaction through a digital, prepaid Wyrz card. The deposit is instantly passed on to the gambling site, and the payment is processed successfully.

The big advantage for operators is that Wyrz makes it much easier for customers to fund their online betting accounts with little additional effort. The customer simply confirms the deposit from within the cashier to complete the transaction.

Here’s Mattias Stetz again speaking of Wyrz:

“Many may not be aware that one of the biggest challenges with online gaming in New Jersey has to do with depositing money to play. When a player tries to fund their account with a conventional debit or credit card payment, the transaction would often fail. Now thanks to the partnership between BetRivers.com and Wyrz, that is no longer an issue for those looking to wager and win on the exciting casino games offered on the site.”

Wyrz Sports Betting FAQ

Wyrz is a straightforward deposit method, but the following questions and answers should shed more light on this option. If you have any questions not answered below, the best thing to do is contact your site’s customer support team for individualized assistance.

Wyrz is integrated into your betting site’s deposit page and appears as an option if your original attempt to deposit with a debit or credit card is declined. When that happens, you’ll be given the option to fund your account through Wyrz without leaving the cashier. Just confirm the amount to deposit, and your betting account will be credited instantly.

No. Wyrz is only presented as an option when your first credit or debit card deposit is unsuccessful for a reason other than lacking sufficient funds.

Yes. Wyrz allows deposit amounts ranging from $15 to $1,500.

No. Online sportsbooks offer Wyrz as a free solution to declined deposits.

No. Wyrz is embedded directly into your betting site’s cashier. All customers must do is consent to using Wyrz and confirm the deposit amount.

Yes, Wyrz is operated by a US-approved gaming payment processor. There are no third-party accounts to manage, and if your deposit is not completed within 24 hours, any money still sitting in Wyrz will be returned to its original funding source.