Are you satisfied with finding the right online sportsbook featuring your favorite sports? Hold on! Not unless you check out its available payment gateways. With numerous sports betting sites flooding the online world, not every platform is safe to start gambling. You can't risk your money and personal details by wagering on an unreliable gambling website.
So analyzing the available payment methods should be your first step before creating an account on an online betting site. Wondering what the safest online payment method is?
Your hunt for fast yet secure payment options ends here. Check out this detailed guide and wager confidently on the safest sportsbooks online.
Safest Payment Methods For Online Betting
In an ever-expanding online betting world, sportsbook operators provide an array of safe payment options to gamblers. However, each comes with its perks and disadvantages. So, make sure to go through all the specifications to select a suitable method for funds transfer.
Here are the best payment methods you can consider to gamble without risk of identity or financial loss.
- Debit and Credit cards
Choose a debit or credit card if you are old school. Many veteran sportsbook fans still prefer online casinos that take debit cards due to no third-party integration. It means a MasterCard or Visa card will allow the instant deposit of funds on sports betting sites.
Pros:
Secure MasterCard and Visa betting sites.
Cons:
Slow processing times.
Paypal
Paypal is one of the most renowned payment gateways in the USA gambling market. The high acceptance rate of this e-wallet is a key reason many gamblers call it the most secure way to deposit funds.
The instant deposit process is another feature of Paypal sports betting. Simply enter your email credentials linked with PayPal and top up your sports betting account.
Pros:
Quick turnarounds on withdrawals.
Accepted on many sportsbook portals.
Cons:
Charges a transaction fee.
- Crypto
Are you a crypto user? Congrats! You are the safest bettor online. Blockchain technology’s stringent privacy and anonymity make it the credible payment method for high-rollers.
Blockchain updates and sends a new passcode to protect the user's identity after the payment initiation. Besides, there is no need to pay transaction fees when wagering via cryptocurrencies.
These days, crypto-powered sportsbook sites readily accept deposits through various digital currencies, including Ethereum, Altcoin, Bitcoin, Dash, Bitcoin Dash, and Litecoin. Seeing the growing trend among bettors toward crypto, many online operators even offer their members lucrative first deposits and bonus deals.
Pros:
Quick deposit and payout process.
High encryption system.
Cons:
Not available with all online sportsbooks operators.
- Neteller
Wondering how to gamble online without a credit card? Neteller is your one-stop solution. A part of the Paysafe Group is an instant, secure payment method. This digital wallet is available in more than 200 countries and several online bookmakers.
The high-level encryption of Neteller protects against online scams, thus ensuring the credibility of the online gambling sites. Also, the fast flow of funds between accounts facilitates bettors who manage various accounts to improve their winning chances.
Pros:
Supports various languages.
Same-day withdrawal process.
Cons:
Charges extremely high transaction fees.
- Skrill
Earlier known as 'Moneybookers,' Skrill also provides a seamless transaction service to online gamblers. You don't need to share your private details while using this online wallet. Besides, you get an added security layer as it acts as a middleman between the sportsbook operator and your bank.
Users can also apply for a Skrill virtual debit card for fast and reliable payment transactions on online sports betting sites. The digital wallet even allows you to select the currency of your choice while depositing money in your sportsbook account.
Pros:
State-of-the-art encryption system.
Non-disclosure of the card or bank details.
Cons:
No first deposit bonus offer.
- Prepaid Play+ card
Another well-trusted online payment service across the globe. Since many online sportsbooks offer exciting loyalty schemes to prepaid card users, punters love wagering with this payment mode. You can be more than lucky to earn free bets and promo deals by using a Play+ card.
Also, an online bookmaker provides instant approval for the card without asking you to fulfill any specific regulations.
Pros:
No credit check, overdraft, or loan involved
Cons:
Longer withdrawal validation process.
- Bank Transfer
Betting sites that accept bank transfers are ideal for high-rollers. Also known as bank wire, it is a simple and secure way to deposit funds. You can directly transfer a large amount of money from your bank to an online sportsbook account with this payment mode.
Pros:
No need for a middleman.
Allows larger deposits than other options.
Cons:
Lengthy processing time.
Sportsbooks With Fast Payouts
The withdrawal times for winning bets vary as per sportsbook operators and payment methods. But undoubtedly, anybody will be eager to see the cash credited to the bank when playing for real money. So, finding Safest Betting Sites with quick payouts will be a dream come true for many bettors.
Here are the three famous online sportsbooks that provide fast payouts to their players.
Bovada
Crypto players can feel lucky to bet on this sportsbook site. The elite of the sports betting industry, Bovada, is famous for the same-day payout when wagered with cryptocurrencies. They were the first to integrate Zelle-to-Bitcoin deposits that removed the initial waiting period imposed by Bitcoin exchanges.
On the other hand, withdrawal via bank wire or check also takes only 3 to 7 business days on this site. Thus, you don't need to wait for many weeks to cash your winning bet with the Bovada sports betting portal.
The bookmaker is also offering a $750 welcome bonus to first-time bettors to make it more exciting for the gamblers.
BetOnline
Another well-known online bookmaker - for all the good reasons. Firstly, you will receive payouts within 24 hours when playing via digital currencies. Besides, bank wires and check payouts can take up to 7 to 10 days.
The bookmaker even rewards its new users with lucrative offers. It includes a 50% match welcome bonus, a 100% match bonus for the first crypto deposit, and a 35% reload match bonus. Also, a Lifetime 25% deposit match bonus is waiting for US punters at BetOnline.
Well, there is no reason to look beyond this online sportsbook site.
SugarHouse
At SugarHouse, beat the odds on your all-time favorite American leagues without sweating about a long-waited payout process. The operator quickly transfers money if you are using prepaid cards or Neteller. eChecks also take hardly 3 to 5 days to cash.
Also, there is an ongoing promo offer as delightful as the sportsbook's name. New members get a chance to receive a 100% match deposit bonus after their first deposit.
Final Thoughts
The operation of online sportsbooks is a complex process due to the continuous management of betting markets, bookies, punters, and promo offers. Alongside, high traffic and high volume transactions often expose these sites to fraudulent activities. Thus, it became essential for sports betting sites to integrate reliable and secure payment modes.
But with a plethora of safe options available, the gambling experts at SBS suggest selecting the method that suffices your payment and betting goals.
Author Bio:
Sarah has been instrumental in writing about sports betting and gaming for over a decade now! Her keen eye for detail, together with her penchant for research, assures the audience gets a 360-degree colossal view on any topic! You can read more of her work at Safest Betting Sites.