In the Digital World of Online Sportsbooks, Paper Checks Still Have their Place
Since many e-wallets and other online processors have gone by the wayside in recent years for U.S. bettors, both personal and cashier’s checks have become a more heavily utilized method of funding an online betting account. They are an extremely reliable option and have a 100 percent success rate. They also offer higher than normal maximum deposits.
Speaking of Deposits …
Depositing via check isn’t normally a player’s first choice when looking to put money online, but the method is simple and offers some unique advantages.
First, make sure your sportsbook offers check deposits. If the book accepts it, it should be listed under the cashier section in your player account. After you click the method, you will be instructed to contact support, usually by phone or via live chat.
The sportsbook’s support staff will then give you instructions for mailing the check, and the specific information you will need to do so. If the book accepts a personal check, there is little more to do other than writing it and mailing it on to the operator’s offices. FedEx speeds up the process and is a secure way to send sensitive banking information through the mail. I would not recommend sending checks by standard post; use a more secure service instead.
For the most part, shipping fees won’t cost a bettor more than $10 to $15, depending on how quickly he or she wants the checks to reach the sportsbook’s offices. Unlike a money order, checks will take time to clear, sometimes taking several business days. When all is said and done, bettors should have their accounts credited within five to seven business days.
Best Suited to Bigger Depositors
One of the best things about depositing via check is that the limits are usually much higher than those attached to other methods. Bettors may only be able to deposit $500 to $1,000 per credit card transaction, or a few thousand dollars using other methods such as Western Union or MoneyGram. With checks though, the amount one can deposit is much larger: Many books offer limits as high as $25,000 on deposits and a few have no limits at all in regards to the amount you can place into your account when using this method.
Reasons to Avoid Checks
Like any method that isn’t instant, there is the drawback of having to wait for your money to clear and be credited to your account. This can be annoying, especially if you are looking to bet a market that may not be available by the time your funds hit. It is crucial to plan ahead if you are using a method that takes several days or longer to process.
Why Checks Are a Popular Withdrawal Method
Checks are by far the most popular method for withdrawals. Many sportsbooks will offer bettors one free withdrawal per month, with additional withdrawals coming with a fee. This usually ranges between $30 and $50 per check. The one free withdrawal is especially nice, but even with the fees, check cashouts work out cheaper than bank wires and are considerably less expensive than Western Union withdrawals.
For the most part, they rarely take longer than a few weeks to be processed and mailed out to customers. In rare cases, they may be delayed at high-volume times of the year, but even then, players should not have to wait longer than two months to be paid.
Checks: Not Just for Withdrawals
Paper checks are the most used withdrawal method for online sportsbooks, and most bettors collect their winnings in this form. Few bettors may know it is also available as a deposit option, and a dependable one at that.