What’s the best way to deposit money?

Once you start treating this as a business, you’ll realize that you need to be able to move your money in and out of your sportsbook accounts for as little of a cost as you can. The US government makes this a bit harder for people living in the States, while the the rest of the world has a much easier time doing this.

If you live in the United States, the absolute best way to transfer money in and out of your sportsbook accounts is with bitcoin. If you live outside of the States, you have many options; I like Skrill (formerly Moneybookers) and plain ole fashioned wire transfers.

Many sportsbooks offer a variety of deposit and withdrawal options, such as credit cards, person-to-person (Western Union & MoneyGram), money orders, bitcoins, and bank transfers.

Person-to-person transfers have become much more scrutinized over the past few years. People have found that they’ve become banned from using Western Union and/or MoneyGram, even from the occasional transaction to send or receive money. The US government has cracked down hard, so funding options have gotten tougher.

Bitcoin is anonymous and easily accepted just about everywhere, plus they make it easier to move your money between sportsbooks (as you should be doing, to take advantage of better lines and better deposit bonuses). Never leave money on the table!

Another downside with other deposit/withdrawal methods is that some sportsbooks charge higher fees. If you’re a recreational gambler, sure, funding with a credit card or Western Union/MoneyGram is just fine, but as a business? Hell no. Keep it simple. Bitcoins for Americans, Skrill (or wire transfers) for everybody else (or whatever e-wallet is popular in your country).

About the Author Steve

Steve firmly believes that most meals can be improved with mac n cheese. When he's not helping people make money betting on sports, Steve loves mountain biking, playing video games with his son, & annoying his wife. Oh, and he's a big Dallas Cowboys fan. Don't hate.

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