Funding Your Online Sports Betting: Three Payment Methods For Online Sports Books

Funding Your Online Sports Betting: Three Payment Methods For Online Sports BooksBetting online has become more and more popular over the last decade, but if you want to place bets on sports there are often barriers in place that make it hard to do so.  One of the biggest challenges that people face is funding their online accounts with the bookmaker, especially if the gambler lives in a country where betting in an online environment is not legal.  Online bookmakers have become more creative and they offer alternative payment methods for people who are willing to take the extra step to get access.  Each of these payment methods requires a little effort ahead of time, but once you do it once, the process is easy to repeat.

Paypal
The largest single payment processing site on the planet is Paypal, and there is no easier way to send money from one person to another online.  Retailers like Amazon and eBay use Paypal as a preferred method of payment, and it is even becoming popular among brick and mortar businesses.  Online sports books almost universally accept Paypal payments, and the accounts are free and easy to set up.  All you really need for a Paypal account is an email address, and with Paypal’s new relationship with CoinStar, you do not even need to have a bank account.  Funds can be placed in your Paypal account through your regular checking or savings account, transferred from a credit card or from another Paypal account.  If you are someone who does not have ready access to a bank account, Paypal is really not the best choice for funding your online sports book account.

Credit Card
Another option is to use a traditional Visa or Mastercard to place money in your sports book account.  Since paying with a credit card online is something that you probably do anyway, it is not going to require that much extra effort on your part to get your sports book account funded.  There are problems with using your credit cards in this way.  First and foremost, you will usually have to pay much higher interest on the money that you spend because it will be considered a cash advance by your credit card company, which can be very costly.  Additionally there are sometimes concerns about the safety of credit card numbers in online transactions, though high volume processing companies like online sports books have much higher cyber security than your mom and pop online store.

Western Union
If you do not have access to a bank account and you do not have a credit card it is still possible to participate in online betting through a sports book.  Many of the large sports books will accept cash payments made through direct transfers at a Western Union location.  In many ways this is the safest way to fund your online account, but it is also the most inconvenient.  You will have to physically travel to a Western Union in order to make the cash payment, and it may still take several hours for the payment to get processed and hit your account, depending on the rules of the online sports book that you are working with.  Western Union does give the greater benefit of anonymity, so if you are concerned about your identity or the security of your personal information, this is going to be your best choice.

The big online sports books, like Ladbrokes, offer bonus money incentives through sites like http://www.bonusmoney.co.uk/ to encourage new betting, so it is always a good idea to check out the latest promo codes before you set up or fund an account.  This bonus money is often a substantial percentage of what you deposit, and can make your betting experience much more enjoyable.

I am Brian Sanderson and I have been betting in online sports books for a long time.  I wrote this article to talk about some of the more creative ways that I have found to add money to my sports book and to keep my wife from asking questions about credit card charges.

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