ACH Payment Betting Sites GuideBack in the days, all we had is cash money that you could use to make your payments. You had to be physically present in the store, and the store owner had to count your cash. These days, things work a little different. The major part of all bank transactions are done digitally between banks by using a complex mechanism. As a user of these banks, you need to follow some steps, and your bank will process your payment. This method has been out for a couple of years now and became the standard method for many. In sports betting, all significant sportsbook support ACH payments.
Pros and Cons ACH BettingPros
- Widely accepted across many platforms
- One of the oldest and most trusted payment methods
- Customized customer service
- Directly linked to your bank
- Impossible to perform anonymous transactions
What to expect in this guide?
- What are ACH Payments, and how can you use them for online betting?
- What are the advantages and disadvantages of using ACH Payments for online betting?
- The level of security and safety that ACH Payments have
- What are the best sportsbooks that support ACH Payments?
What are ACH Payments?A simple explanation is this; electronic payments. You have a bank account that makes it possible for you to perform electronic payments that go through the Automated Clearing House Network, the ACH network. In simple terms, all ACH payments are funds that you move from one bank account to another. Now, most people already use ACH payments, whether they are aware of it or not. A subscription-based service for utilities like gas and electricity usually goes through ACH payments. In 2018 alone, there were 23 billion ACH payments completed by consumers and businesses. This service is enormous, so don’t worry that sportsbooks do not support it.
ACH Payments for online bettingWhen you decide you want to deposit money on the sportsbook of your liking, you need to find the right way to do so. Usually, any sportsbook has multiple options. In most cases, ACH payments are one of the prominent options. Where most banking options have limited amounts for deposits, with ACH payments, you can go big. It totally depends on the betting site on how high the deposit limit is, but it could go as high as $50,000. When you are sure about your bet, and you want to go big, ACH payment makes it possible. Because, as a wise man once said; Go big or go home!
Advantages of using ACH Payments for online bettingWe live in 2020. The internet has been around for many years now, even most grandfathers and grandmothers know how to surf the net. Besides finding funny videos and contacting family and friends, online banking is an easy and extremely convenient practice to learn. That’s why most people know how to perform ACH payments. It’s familiar and straightforward. When you make an ACH payment, it’s directly linked to your bank account, so you need to possess the money you want to deposit. This gives you better control of your gambling habits. Plus, usually, the transactions clear instantly, and within minutes you can start placing bets.
Disadvantages of using ACH Payments for online bettingWhen creating a guide on anything, we do have to put on the critic’s glasses and shine some light on the negative aspects of ACH Payments. Some people want to keep their sports betting career a secret from their friends, family or their jobs. With ACH Payments, that’s nearly impossible. All payments go via your bank account, which is directly linked to you. So, there’s not much anonymity and sometimes the withdrawals can take a long time. In order to clear your withdrawals, the banks need to perform some checks, which can take days sometimes. So, be aware of the flaws for ACH payments in sports betting as well!
ACH Payment Customer serviceWhen you run into any issues with making payments, you are in the right spot with ACH Payments. With most traditional banks, there’s a big safety net that catches you in case anything goes wrong that is not your fault. As an example, imagine your internet crashes during the payment, and the transaction fails. Still, there is money withdrawn from your account. In this case, you can simply call your bank and explain the situation. As an extra, you can also contact the customer service of the sportsbook for some extra help. Usually, both parties are more than willing to help out in case anything goes wrong.
How Secure is using ACH Payment for online bettingOne of the safest ways of making payments online is by using ACH payments. With most sportsbooks, you can make deposits with the help of either third-party applications or with your bank’s mobile banking application. Either way, these services underwent multiple checks and audits to confirm the security. This means that when you make a payment, you can trust that it’s safe. One thing you should be aware of is whether the betting site is using SSL encryption. It’s the little lock sign before the URL in your browser. When you see that sign, you’re good to go, and you know you’re dealing with the real betting site.
ACH Payment bonuses and promotions for online bettingOne interesting factor about sports betting that we should not forget is the power of the available bonuses and promotions. You want the best out there, and you want to play smart, that’s why you should grab a nice bonus or promotion along the way. We always select the best bonuses and promotions for online betting out there; all you need to do is check out our list. One thing you should not forget, though: Always be aware of the terms & conditions that come with these bonuses and promotions! It’s one thing to find a good bonus, but you need to know what to do first!
How much do ACH payments cost?The beauty of servicing masses of people at the same time can increase your product. Because ACH payments are available to billions of people around the world, there is a lot of money flowing around. With just a tiny percentage of each transaction, the company behind the system can make huge profits. That means you, as a consumer, do not have to pay anything in most cases. Of course, it depends on the kind of transfer and how fast you want it to clear, but in most cases, your bank or the bank of the sportsbook covers the transaction fees.
How do I withdraw with ACH Payment when online betting?We have mentioned before that making a deposit at the betting site of your preference is the same as making a regular ACH payment. Now, let’s assume you had some fun and made some good money along the way. Congratulations! Time to get that money off your betting site account and withdraw it to your bank account. You head over to the cashier and select the ACH payment option. After you leave your details and receive the withdrawal confirmation, all that is left is waiting. In most cases, withdrawals should not take longer than a day, but it’s possible that you have to wait up to 3 workdays.
Best betting sites for ACH Payment bettingIn all honesty, we could not find any betting sites that do not offer ACH payments at all. All the respected and reputable betting sites, the ones that we recommend, support the use of ACH payments. That’s why we look further than just the ACH Payments when making our list of top betting sites that we recommend. So, before you make a conclusion which sportsbook to choose based on the acceptance of ACH payments, please visit our top betting sites list. We look at all the possible varieties ranging from security measures to available games. You have fun, and we do the research!
To concludeWith the uprise of technology, many things became much more efficient. One of these things is making payments. Where you had to stand in line for hours to file a check, you can now simply press a few buttons online, and your transactions will be processed. Sports betting is all about making the experience of the user as fluent as possible. That’s why it’s no surprise that ACH payments are supported at all your favorite betting sites. We made a list of all the best betting sites out there, but before you choose one, see if there are any active bonuses and promotions. Play smart and win big!
ACH Payment FAQs
Do I need to share my driver’s license before making an ACH payment?In some cases you need to share your driver’s license as a means of identification. When depositing large amounts of money, identification is required.
Can I trust the betting site with my money when I make big deposits?You can trust all the betting sites that we recommend. We checked their security, licenses, certificates and can confirm you can trust them.
What is the company behind ACH payments, can I trust them?The ACH Payments are governed by the NACHA, National Automated House Association, and the Federal Reserve. Yes, you can definitely trust them.