Preferred sports betting payment methods
Beyond the games, software suppliers and even welcome bonuses, the most important factor for would-be NFL bettors in North America when deciding upon an online sportsbook might continue to be the payment methods offered at the given site. In the wake of the relevant Supreme Court decisions on allowing gambling on sports handed down in 2018, the former reticence of banks and financial institutions to transact business with sports betting sites is dissipated – but not very quickly.
Do all online sportsbooks accept Visa, Mastercard, American Express and/or Discover?
Well, yes and no. Though basically all sportsbook sties advertise as accepting Visa and Masercard credit cards at least, on a case-by-case basis, transacting business at sportsbooks with even major credit cards can be a dicey proposition. Despite the SCOTUS ruling, a federal law based in post-9/11 anti-terrorist legislature and still on the books continues to muck things up for bettors and financial institutions alike. (Remember how, even after several states legalized recreational marijuana, federal agents nonetheless reserved their right to bust a weed user? The current situation in online sportsbooks is similar.)
Said gnarly bit of legislation is known as the Unlawful Internet Gambling Enforcement Act (UIGEA), a subsection of the anti-terrorism measure known as the SAFE Port Act in 2006. This law calls upon banks and other financial institutions to reject any transaction to or from a *suspected* gambling provider. As the states of New York and California, where much of the money underlying America’s biggest banks is based, get through the political process of legalizing online sports betting, UIGEA will eventually become used as an excuse to make a high-level arrest once in a while.
Credit card providers (private enterprises who should note be acting as federal agents, after all) will soon be freely transacting business in sportsbook-friendly states. If you think that UIGEA will ultimately be stricken from American law altogether, think again. UIGEA is just one of three federal laws in existence specifically addressing gambling: The others are the Indian Gaming Regulatory Act (IGRA) of 1988 and the Wire Act of 1961, the latter of which is still occasionally used to prosecute in the 21st century.
E-wallets: Sports betting payment methods that work
The internet’s electronic payment providers (a.k.a. e-wallets) have been able to adapt the new state-by-state and province-by-province freedom of the U.S. and Canada extremely speedily; as individual legislatures legalize sports betting online in turn, most e-wallet services more or less flip a virtual switch and ta dah – instant service to your favorite sportsbook sites.
Best of all, the world’s no. 1 e-wallet, PayPal, is finally back wholesale – at least in lawfully-approved online sportsbooks, In the early 2000s (years before passage of UIGEA, even) did this payment service back out of servicing any casino- or sportsbook-based website altogether. Slowly did PayPal return as acceptable currency, first in the UK and thereafter in Europe. Today, certain apps will even let you wager at a “bricks-and-mortar” sportsbook through PayPal. Fantastic!
Money/wire transfers: An easier-than-ever sports betting paying method
NFLbets’ll tell you one party that was behind legalization of sports betting in the U.S.: Western Union and the other wire transfer services. Essentially overnight will Western Union become a viable method of payment to an approved online (or real-life) sportsbook. The fees are relatively high for smaller amounts, but in terms of pure safety and security, a wire transfer is unquestionably the best choice.