Withdrawal Methods That Are Legal For Online Betting

When you’re using an offshore sportsbook over the Internet, there are few more pressing considerations that getting your winnings out and quickly, reliably delivered to you stateside. To facilitate this, there are a number of different withdrawal methods that are legal for online betting, and different sites will typically offer similar services. Though many online gamblers simply re-invest their winnings into future bets, it's common for people to want the money they won in their hands. The only real difficulty for US players in claiming their winnings (and it’s a small nuisance, not a deal-breaking problem) is the federal Unlawful Internet Gambling Enforcement Act (UIGEA, 2006). This is a restriction on US banks and other domestic financial institutions, however, and individual bettors are not targeted by the law. It’s merely a speedbump to getting your winnings, and there are lots of solid workarounds provided by the best offshore betting sites.

Depending on which site you place bets with, you may have a dozen or more options for legal sportsbook payouts. Or you might have just one or two available to you. All legitimate sportsbook sites will allow you to withdraw your winnings, obviously, but they vary in terms of the variety of withdrawal methods. As a result, when you're hunting for an online book to serve as your primary betting site (even though we highly recommend you join more than one book for the purpose of line shopping), you would do well to look into their available payout options to make sure they offer the right methods for your particular needs.

Bitcoin

Bitcoin is the newest method for legal sports betting withdrawals that online sportsbooks have added to their arsenals. Bitcoin is a digital currency that is both decentralized and relatively anonymous. This means that you do not have to worry about a bank refusing to cash your check or holding up delivery in some other way, as banks have nothing to do with Bitcoin in the first place.

BTC withdrawals are the fastest way to receive sportsbook winnings, with your funds delivered to your wallet within a few hours in most instances. Another great aspect of this particular payout method is that you do not have to pay any withdrawal fees, so your earnings are credited in their entirety.

One point of advice with Bitcoin withdrawals is to cash out when the value of Bitcoin is either the same or higher than its price at the time of your initial BTC deposit. Remember, Bitcoin is actively traded in global exchanges, and the price can fluctuate dramatically over just a few hours or days.

Best Bitcoin Sportsbooks: Bovada Sportsbook, 5Dimes Sportsbook, SportsBetting Sportsbook

Check By Mail (Courier)

Getting a paper check in the mail from any online sportsbook's cashier department is a relatively simple way to collect your money. Probably the most basic withdrawal method of all, a check by mail works like any other check sent through the postal service. However, be advised: It can take a long time for your sportsbook’s cashier to send you your check – up to 15 or more business days at some sites! Additionally, you'll need to fill out a withdrawal form and send in a proof of your identity (a photocopy of your photo ID usually works), but besides that, withdrawing your money through check by mail is a viable withdrawal method at every legitimate online gaming site, and it is therefore very popular for USA sport bettors trying to operate within the legal confines of the UIGEA and other laws.

Typically, courier check payouts can take a bit longer to process, which can sometimes lead to further delays when receiving your check payouts, but there can be options with paper checks that will allow users to get their funds quicker. Generally speaking (and depending on your sportsbook), it could take as little as 7 days to get a check or as long as 30 days. Regardless, you will eventually receive your money, as the method is definitely proven, and if there are any problems with receipt, your book will work with you to make you whole ASAP.

Withdrawal Fees For Checks: Typically Lowest Of All Payout Methods - Most Sportsbooks Give One Free Per Month.

Wire Transfers

For legal sports betting withdrawals, bank wires are an easy-to-use option. When you write a paper check to a retailer or an individual and they cash it, there's a lot of paperwork and electronic activity that follows. Bank wires basically cut out the paper portion of this exchange, making a funds transfer from your online casino or sportsbook account to your chosen financial institution nearly instantly. Think of a bank wire as a digital check.

The main benefit of bank wires, or eChecks, over paper checks is in the time the transfers take to process. Instead of waiting a month for a check to arrive in the mail, you often have your winnings in your bank account or eWallet within just a day or two. Most legal betting sites that accept USA bettors allow eCheck withdrawals.

Popular Brands Of Wire Transfers: Western Union + MoneyGram

Bank Wires

For legal sports betting withdrawals, bank wires are an easy-to-use option. When you write a paper check to a retailer or an individual and they cash it, there's a lot of paperwork and electronic activity that follows. Bank wires basically cut out the paper portion of this exchange, making a funds transfer from your online casino or sportsbook account to your chosen financial institution nearly instantly. Think of a bank wire as a digital check.

The main benefit of bank wires, or eChecks, over paper checks is in the time the transfers take to process. Instead of waiting a month for a check to arrive in the mail, you often have your winnings in your bank account or eWallet instantly. Most legal betting sites that accept USA bettors allow eCheck withdrawals.

Sportsbooks That Use Bank Wires: Bovada Sportsbook, BetOnline Sportsbook, SportsBetting Sportsbook

Debit Card Payouts

This is a great way to get paid by an online sportsbook, but the betting sites that use it are extremely limited. At this time, there is just one online betting site we know of that offers them: 5Dimes Sportsbook. That being said, the availability changes from month to month, so you may not always see this option offered.

Debit card payouts basically work by re-crediting the debit card used to make your initial associated deposit into a sports betting account. At 5Dimes, they only accept Visa, so Visa debit cards are the only ones that can be “refunded”. The process will require the user to fill out a debit funding application to get started, but again, they must first use that card to make a deposit - only debit cards used to fund the betting account can be used for this.

Typical transfer time on debit card payments is around one week, and fees are generally low. It is also worth noting that debit/bank cards that are capable of international purchases are going to have much better success rates than those not officially afforded that luxury. For legal sports betting withdrawals with debit cards, you will need to speak with customer service. Ideally, you will only use this option if no other more straightforward option suits your particular needs.

Prepaid Card Sports Betting Payouts

Most often, prepaid cards are associated with deposit methods for an online betting site. However, prepaid cards can also be used as a method to receive a payout from a sportsbook as well. Not every website will offer a prepaid payout option. Each betting site will have its own rules and regulations regarding how a prepaid card can be used. For example, at 5Dimes Sportsbook, they have a prepaid card called the 1500 CLUB card. This is a card where deposits and payouts can be made by account holders. Users are issued a card after joining the 1500 CLUB program and will be able to dictate the payout process under the guidelines of 5Dimes.

Other prepaid card payouts center on major credit card brands. Visa is most often an option, but other prepaid cards have the potential to be accepted after consulting with the cashier at your betting site of choice. Not every top site supports prepaid card betting payouts, and others do offer the service but do not advertise it publicly. If you want to know whether or not your sportsbook offers prepaid card payouts, you will need to contact customer service for the final word.

How the UIGEA Has Affected Withdrawals

The UIGEA (Unlawful Internet Gambling Enforcement Act) was passed in 2006 as a weak attempt to stop all “unauthorized” online gambling inside US borders. It limits banks and other financial institutions from knowingly transferring funds to and from online gambling websites. The UIGEA doesn't apply to all forms of deposits and legal withdrawals, instead mostly going after credit card payments, debit card deposits, and any direct funds transfers from your bank to your player account. What's really frustrating is that the UIGEA has scared PayPal, the world's most popular eWallet, away from the American market, even though they are one of the most popular gambling withdrawal platforms in the rest of the world. Simply put, the UIGEA makes legal withdrawals a little more expensive, a little harder, and adds some time to the exchange of funds. Unless, of course, you use a cryptocurrency like Bitcoin or supported altcoins (i.e. Ethereum, Litecoin, Cardano, Stellar, Ripple, DASH, Bitcoin Cash, etc.).

Other Problems Americans Have When Getting Payouts From Online Sportsbooks

The UIGEA is not the only stumbling block Americans have in the way of withdrawing funds from their Internet betting accounts. The first thing that would prevent a USA gambler from making a withdrawal would be if he weren't of legal gambling age in his state. Online casinos use age-verifying methods to make sure you're complying with local and federal laws. Another little headache is the requirement that you verify your identity before you make a withdrawal — when it's time to collect your winnings, you'll need to fill out paperwork and provide proof of your identity. No legitimate sportsbook or online casino is going to prevent you from getting legal sportsbook payouts, as long as you are who you say you are.

BetOnline Sportsbook - Payments Made In Under 48 Hours Depending On Method

Besides a great variety of games and betting options built on proprietary software, BetOnline has a really beneficial withdrawal system. Americans can request a payout once a month with a $50 credit against any withdrawal processing fees.

BetOnline allows USA gamblers to withdraw using paper check by mail, book-to-book transfers, Western Union and MoneyGram wire transfers, person-to-person withdrawals, and (for those lucky Americans that have the ability to do so) ACH withdrawals directly to your bank account (bank wires). BetOnline also handles payouts in Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and DASH cryptocurrencies, which offer the fastest withdrawal methods and carry no added fees.

Bovada Sportsbook - Up To Four Friendly Options For USA Sportsbook Payouts

Bovada is for North American customers only, an offshoot of the mega-popular Bodog betting network. Bovada uses check-by-courier, Western Union and MoneyGram (by request), bank wire transfers (by request), and Bitcoin/Bitcoin Cash to pay withdrawals to their North American customers for anything from sports gambling to online poker to horse racing betting.

Please note that all Bovada customers get one free "check-by-courier" withdrawal per month, a no-fee withdrawal method that can save you the hassle of having to pay a portion of your winnings to a middleman. Other methods like wire transfers typically have $40 to $80 in processing fees, but payments usually arrive within 48 hours or sooner.

What Is The Fastest Method For Getting Money Out Of Sports Betting Websites?

Many users like to get their legal sportsbook payouts from a betting site quickly. When selecting an option based purely on speed, Bitcoin is the quickest way to get paid. (If you are not familiar with Bitcoin, another option is a wire transfer.) Bettors can expect a Bitcoin transfer from their sportsbook to be made within 4-12 hours following the approval of the withdrawal by the customer service department. That means that in most cases, the bettor can have their payout back to them the very same day that they request it. The most you can expect to wait, if your book has very high payout traffic, is a day or two, though these cases are the exceptions. Legal sports betting payouts are both expedient and reliable with Bitcoin and other supported cryptocurrencies (which work the same way).

More About Online Sportsbook Withdrawal - Payout Fees + Charges

No matter the sportsbook you use, when it comes to making legal sports betting withdrawals and receiving a payout from a site, there are fees to consider. There is no 'one size fits all' fee at a sportsbook. Each potential fee will be tailored to the type of legal sportsbook payout that is being sent to the player. Not only will the fees vary depending upon the type of payout, but fees for the same payout methods can also vary from sportsbook to sportsbook. Different sites will assess fees differently. This is another incentive to shop around at the different sportsbooks and join multiple services so that you always get the very best value for your money. Joining several books is not just to help with shopping betting lines, of course; it is recommended that you do this based on a number of factors including payout fees, bonus perks, and more.