When betting at an online sportsbook, your experience with depositing and withdrawing will impact your overall sportsbook experience a lot. But it is not always the online sportsbook itself that has an effect on your banking experience, it’s also your chosen method of payment. A decent sportsbook will offer various methods for depositing and withdrawing, and this article helps you to choose the fitting method for your preferences. Creditcards, e-wallets, prepaid cards and bank transfer are amongst the most popular methods. They all have their own advantages and disadvantages. Read our guide to find out everything you need to know when it comes to banking at a New Jersey online bookmaker!
Depositing and Withdrawing with Online Bookmakers in NJ
In this article you will learn:
- About the most popular methods for banking at an online bookmaker
- Which payment methods offer the quickest withdrawal processing times
- How a certain payment methods guarantees safety and security
Quick overview of the most popular methods of payment
In general, you will always find that certain rules of thumb apply to certain methods of payment. Knowing these rules can help you narrow down the scope of your search to fit your own wants and needs. With most online bookmakers in the state of New Jersey, you will find the following:
- All your deposits are processed instantly and added to your sportsbook account
- E-wallets offer the quickest withdrawals, sometimes processed instantly
- Credit cards options are almost always available
- E-wallets allow you to make anonymous transactions
- For credit card transfers and bank transfers, you don’t need to register online with a third party
Paying with a credit card at an online bookmaker
Credit cards are among the most popular methods of payment. We’ve pretty much never come across an online bookmaker that does not offer either MasterCard, VISA, American Express or all the above. There are various reasons to choose this convenient method. We will list both the advantages and the disadvantages:
- Credit cards are one of the most secure options for online payment available.
- Credit cards protect your purchases. If your money does somehow not arrive at the online sportsbook, you will have your funds returned by the credit card company.
- You don’t have to register an extra account to request deposits or withdrawals online.
- You can make purchases on credit, which means that you don’t have to pay with your actual funds right away.
- Credit cards payments are not anonymous. You will have to provide personal details when requesting a transaction.
Withdrawals or not processed instantly, but may take between 2-5 working days.
Since you are buying on credit, this may lead to overspending. So be extra responsible when it comes to your spending patterns!
eWallets banking at New Jersey sportsbooks
eWallets became increasingly popular over the last decades. No wonder why, they are the easiest and most convenient way to complete both deposits and transactions. eWallet is an online wallet which you can connect to your debit or credit card (or both). You can also transfer funds to your eWallet account and use this as prepaid balance. As soon as you have your account set-up, you will probably not choose another method anymore. Most online sportsbooks picked up on this trend and offer Neteller, Skrill, ecoPayz and/ or Paypal. You will understand why:
- Deposits are processed instantly and some online bookmakers even process eWallet withdrawals instantly!
- eWallets allow you to make anonymous transactions. You simply log in with your eWallet secure ID and that’s it. No trace of any personal details.
- eWallets offer a very convenient way to process transactions. Only your ID and password will be requested. If you save your account on your device, you can even process transactions within one click.
- You will have to register an online account with a third party to make use of eWallet services.
Not all online sportsbooks offer eWallet options, but most do.
Extra fees may be applied when making use of this service.
Depositing and withdrawing using online bank transfer
Online bank transfer is one of the most trusted and secure methods of payment for online banking with sportsbooks. The nice thing about this particular method is the fact that you don’t need a credit card or extra online account to process transactions. You can simply use online bank transfer to request payments straight from your debit account. There are multiple services that offer online bank transfer, so all you have to do is check to which service your bank is connected. Check out why online sports bettors use online bank transfer:
- Process online transactions using your debit card without opening an account with a third party.
- Very safe, secure and reliable method.
- Convenient to use when depositing. Deposits are processed instantly.
- Not always available for withdrawing. If available, withdrawing may take quite a while.
Verification at online sportsbooks in New Jersey
When requesting deposits or withdrawals at online sportsbooks in New Jersey, whether you use credit cards, eWallets or online bank transfer, there are some rules that you will have to comply to. Online bookmakers are obliged to apply these rules or measures because they were implemented by the Division of Gaming Enforcement. The DGE regulates the NJ online sportsbook market to protect minors and prevent fraud or other criminal activity. Depending on your chosen method of payment, you will have to verify:
- Your identity and age, this can be done by sending a copy of your passport, ID card or drivers license.
- You address, which can be verified by providing copies of utility or phone bills.
- Ownership of payment method, depending on the method of payment. When choosing a credit card option this means sending photo-copies of both the front and back of your card. When choosing an online bank transfer option you may be asked to send a copy of a recent bank statement.
Most online sportsbooks try to process account verification as quickly as possible to make sure that you don’t have to wait too long before you are able to request withdrawals successfully.
Payment Options FAQ
How does the geo-location verification work?If you want to place real-money bets in New Jersey, you will have to verify that you are within state borders. If you're on an online sportsbook app on your mobile, enable the app to view your location. On desktop you will have to install a minor extension.
How do I know which online bookmaker offers my preferred method of payment?Simple, check with our reviews! You can find all the information on payment methods in our dedicated online sportsbook review section.
Do I have to pay extra fees or commission if I bank online at a sportsbook?This depends on both the online sportsbook and your chosen method of payment. You can find detailed information on fees for each payment method in our payment guides, and you can find information on commission charged by the sportsbooks in our online sportsbook reviews.