Payout Options At US Online Sportsbooks
Looking for relevant information about collecting your winnings from the best online sportsbooks for US players? Well, you have found the right place because at OnlineSportsbooksUS.com we understand that payouts are arguably the most important aspect of online sports betting, especially for Americans. In fact, it would be pretty hard for USA accepted sports betting sites to even exist if they didn’t have a way to deliver funds to their U.S. members. With the recent advances in technology, these sportsbooks can now transfer funds in many efficient ways that are unaffected by laws like the UIGEA and others.
This article about USA sportsbook payouts will go over the legal aspects of making a sports betting withdrawal, and show readers exactly why these online sportsbooks are able to send users money despite the existing financial restrictions. Additionally, this page will look at the safety protocols that ensure your money and personal information are safe, as well as briefly cover each payout method so can figure out which one is right for you.
Requesting a payout is simple and quick. It is similar to making a deposit, as you just need to go to your online cashier. You will see a list of payout methods with small descriptions next to each one. Pick you payout method of choice, enter in the amount you would like to withdraw, and hit the button/link to submit the info. Once your withdrawal request has been received, the sportsbook will need a few days to process the payment and issue the funds in the manner chosen. Players should receive some type of email confirmation, or maybe even a phone call from the sportsbook, to let them know that their payout request has been approved and that money is on the way. Once this occurs, just sit back, relax, and wait for the funds to arrive...it's that simple and painless.
There are numerous ways to collect your money from U.S. sports betting sites. Each method has different processing times, fees, and limits, which we will cover in this article. Next, we are going to go through all of the payout methods that you will find when exploring online sports wagering sites. Some only offer a few, while others offer every method we talk about. The payout choice is yours, and you can always try out many of them until you find the one that you like best. Sometimes, depending on the amount you want to withdraw, using numerous methods is best.
Payouts by Check - Checks are very popular among sports fans that use these sites. One of the great things about checks is that they can be delivered through a variety of means including the regular postal system, or a speedy courier service. While waiting for a check may take a little longer than other methods, they are still preferred by many sports bettors because of their reliability. You can cash a check at your local bank, and nothing is better than receiving a check in the mail with your name on it. To request a check, just go to the online cashier and choose “check”, enter the amount you would like to withdraw, and you will be all set.
Cash Wire Transfer Payouts - Another very popular withdrawal method is a cash wire transfer via Western Union, MoneyGram, or other methods. When you request a cash wire transfer, the site will wire the money to your local cash transfer retail outlet, where you can pick it up at any time. This is another excellent and reliable payout method that we highly recommend.
Bank Wire Transfer Payouts - Payments issued through bank wire transfers are sent directly in to your checking/savings account, and are great if you are requesting large amounts. This is because there are relatively high fees and limits, which we will cover later. Bank wire transfers are also very fast, making them attractive to those that want their money ASAP. When you want to request a bank wire transfer, just give the site your bank wire instructions, and they will send it over as soon as you request it.
Prepaid Card Payouts - Prepaid and cash gift cards are excellent for those that either want to receive a certain amount (most only allow you to withdraw a set amount, or in certain increments), or those that like to shop at certain places. A cash card usually comes with a set amount, while gift cards can usually be requested in certain increments. If you shop a lot at places like Amazon.com or Walmart, gift cards are excellent payout methods.
Bitcoin Payouts - Bitcoin users can now conduct all of their online sportsbook transactions with their account. At most sportsbooks, users can only withdraw using Bitcoin if they have also deposited with this method. Many Bitcoin users use this method exclusively for all of their sports betting transactions. Bitcoin payouts are very fast, and usually do not come with fees.
Yes, as long as the payouts are coming from a legal US online sportsbook, they are fine. There is only one federal law that affects the way a legal site is able to conduct transactions, and that is the unlawful Internet Gambling Enforcement Act (UIGEA). The UIGEA does not allow sports betting sites to transfer funds directly to a players’ credit card account. This is an easy law to follow because there are numerous other methods that are safe and fast. As long as the site works within the bounds of the UIGEA, you can collect money from it all day long.
MORE: Legal Sports Betting in the USA
This is a great question and one that is of prime importance. Making sure the site is legal is all well and good, but just because a sportsbook is legal, it doesn’t mean it is safe. You always want to do some research on a site before joining. There are just as many safe and reputable sites out there as there are mediocre mock ups. Luckily, all of the online sportsbooks that we review are in the top-tier of internet wagering sites. These sites use the latest security software and encryption protocols that protect players’ information and money. These sites have millions of members because they put safety as a top priority.
In order to cover international transfer costs, most payouts come with small fees. The sportsbooks do their best to keep these as low as possible. Most check payouts come with small fees around $25, but many sites offer one free check payout per month. This is another reason they are so popular, as most players do not need to withdraw more than once per month. Cash wire transfers come with fees from $25-$105, depending on the amount withdrawn. Similarly, bank wire transfers come with fees ranging from $45-$75. Cash/gift cards and Bitcoin payouts do not generally come with fees. Bitcoin is a form of currency, so exchange rates will apply. These rates change all the time, but are rarely ever substantial. The lack of fees makes cash/gift cards and Bitcoin very attractive payout methods.
Since transferring money overseas can be expensive, there are also minimums and maximums for each method. These are important to understand, as many payout methods are meant for large payouts only, and vice versa. These also vary greatly depending on the site. For instance, many sites offer minimum check payouts of $50, while some have minimums of $500. The maximums tend to range from $1,000 to $3,500. Cash Wire transfers range from minimums of $50, to maximums of around $900 on most sites. Bank wire transfers are only really useful for very large deposits. The minimums are going to be around $500, while the maximums can go as high as $25,000. These limits, combined with the fees, make cash wires and bank wires advisable for large withdrawals. Cash/Gift cards come with set amounts, or incremental amounts. For instance, most cash cards can only be used if you withdraw $500, although some sites differ. If you are looking to withdraw this amount, the lack of fees makes cash cards excellent payout methods. Gift cards either come with set amounts, or in increments of $50, $100, $300, etc… Bitcoin payouts have very low minimums, usually around $20, with maximums in the ballpark of $3,500.
Speeds vary by method, with some taking a few hours, while other methods potentially taking weeks. The popular check payout method is probably not great for impatient people. They usually arrive within a week, although they can take up to a month to arrive depending on the mail carrier. Cash wire transfers are quite fast, arriving within 12 to 36 hours after being requested. Bank wire transfers take a little longer, usually between a week and 10 days. Cash/gift cards and Bitcoin are some the fastest payout methods, with money being available the same day it is requested. Cash/gift cards come in the form of codes, while Bitcoin just transfers the funds between accounts. On many sites, Bitcoin occasionally becomes unavailable, making it less reliable than other methods. This is something to keep in mind when choosing your payout method.
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Now that you are completely filled in on the many payout options that are available, it’s time to pick a U.S. online sportsbook and start wagering. You now know how these sites are able to offer payouts within the bounds of the law, and the safety methods they use to keep you safe. You have seen the pros and cons of each payout method, including fees, limits, and speeds. We believe the site below offers the best funding methods in the business. You can also check out our long reviews to see detailed information about each of the premier online sportsbooks.
For over two decades, the online sportsbook at SportsBetting has been serving up amazing sports betting action for U.S. players. This site not only accepts members from all fifty states, they also have the most variety of payout methods compared to most other sportsbooks. You will find checks, cash wires, bank wires, bitcoin and more fast and safe options. We use SportsBetting as our primary online sportsbook, and we believe that any self-respecting sports fan will have a blast with this site.
Signing up with SportsBetting's online sportsbook today will grant access to a phenomenal sign up bonus. Upon making your first deposit, send in the code “SB50”, and you will receive an extra 50% in sports free plays. This bonus is worth up to $500 depending on the amount you deposit, and is a great way to get a head start on your wagering activities. Check out SportsBetting today to see why millions of Americans are calling this site the best in the business.