In this article, we will discuss different ways you can move money to or from your sports betting account, both online and in cash, as well as sportsbooks with a good variety of banking methods. We will also discuss how you can determine which banking method works best for you.
Understanding banking methods for GA sportsbooks
When it comes to Georgia sportsbooks, there are quite a few things for you to consider, including the banking methods offered by each one.
Start by paying attention to the ways you can move money around online. Methods like card transactions, e-wallets, ACH transfers, and online bill pay are some of the easiest and safest ways to move money around.
If you prefer dealing with cash, there are still a few methods out there for you, but these are more difficult to find and perform.
Either way, the top sportsbooks in Georgia do a great job of providing plenty of banking methods for you to choose from. So finding a reputable sportsbook with an array of methods is not a problem, especially when you start with the list of our favorites.
Georgia online banking methods
The easiest way to make a deposit and withdraw funds from a sportsbook is to use an online banking method, and there are plenty to choose from. Each of the methods provides a safe and secure way to transfer funds to your online sports betting in Georgia operator, and you likely already know how to use at least one. Georgia betting fast payouts is great for players who like when it goes fast!
Debit or credit cards
- Fees: None
- Processing time: Instant deposits
Debit and credit cards may be the most popular way to send money online, but they are not the top pick for sports betting. If you can get your card to work, this does not apply to you, but for many, they are more trouble than they are worth.
Most sportsbooks only accept transactions from Visa and Mastercard, so American Express or Discover users might be out of the running right off the bat.
Certain financial institutions block gaming transactions, and they will not make an exception. If you have a card with another bank, you can try that, but it might be easier to move to another banking method.
If you are using a credit card, you should be aware that some banks treat deposits made to a sports betting account as a cash advance, and any fees incurred because of this are the bettor’s responsibility.
These transactions are attractive because they are fast, and most are already familiar with them, but any one of these issues can negate these benefits.
E-wallets
- Fees: Usually none; may vary
- Processing time: Instant deposits; withdrawals may take up to 48 hours
Even if you are not familiar with the term e-wallet, you have probably at least heard of one. PayPal is the most popular, but smaller names like Skrill are making their way up in the sports betting world.
E-wallets are a quick way to fund your account or receive your payout. They help keep all your cards in one area, and they provide a way to fund your account without sharing banking information with a sportsbook.
Many use e-wallets simply because they prefer to, but this method is useful for anyone whose financial institution blocks gaming transactions. They also help keep your bankroll separate from other funds, so someone using multiple sportsbooks can use this as a management technique.
Prepaid cards
- Fees: Vary depending on the card, but usually under $5; Play+ cards do not charge a fee
- Processing time: Instant deposits; Play+ withdrawals are also instant
There are a few types of prepaid cards used for sports betting transactions.
Not all prepaid gift cards are accepted by sportsbooks, nor do all brands allow transactions related to online gaming. Therefore, it is important to check with both your sportsbook and the gift card terms before purchasing one.
An option known to work is PaySafeCard. These are closed-loop prepaid gift cards that you load at a qualifying retail location. The only caveats are that your sportsbook needs to accept them, and you have a $300 limit.
Play+ cards are prepaid debit cards that provide a safe way for customers to move funds. Many sportsbooks provide a way for you to enroll with their linked Play+ account, and you can deposit with your card the same day.
Play+ cards also come as a physical card that you can use anywhere Discover is accepted. In addition, because the card is linked to your sportsbook, you can generally access winnings faster.
ACH transfers
Fees: None
Processing time: Instant deposits; up to 5 days for withdrawals
Automatic Clearing Houses (ACH), like VIP Preferred, process transactions between two financial institutions. When you submit an ACH transfer, you are moving money directly from your bank account to your betting account.
ACH transfers are less popular because they require more steps than putting in your card information, but they have a higher success rate than other methods mentioned.
This is a popular second choice for bettors whose bank blocks gaming transactions or those who want to keep their banking information away from their sportsbooks.
Online bill pay
- Fees: None
- Processing time: Instant deposits; withdrawals process in under 48 hours
Online bill pay service providers like Neteller, Trustly, and PayWithMyBank process transactions in a way that is similar to an ACH transfer, but there are a few differences.
With online bill pay methods, you first input the amount of your deposit on the cashier page of your sportsbook. When you go to submit the transaction, you are redirected to a secure page where you can safely log in to your bank account. Then, the sportsbook receives the deposit without seeing your banking details.
While ACH transactions can retain your information to speed up the process as it is repeated, online bill pay providers to do not. As a result, you need to fill it out every time you transfer funds, but this is considered more secure than other methods.
How to bet online using cash in Georgia
Betting online using cash takes more effort, but there are a few ways you can do it.
Wire transfers
- Fees: Vary depending on the bank; most betting sites offer to cover at least a portion
- Processing time: 1 to 7 banking days
A wire transfer is generally more trouble than it is worth unless you are transferring a large sum of money. Then, anytime you need to deposit more than the maximum amount allowed by another method, a wire transfer will be the best choice.
These typically require you to visit the bank in person to verify the legitimacy of the transaction.
You can also withdraw funds using a wire transfer with some sportsbooks, but it is less common.
PayNearMe or Green Dot Moneypak Betting
- Fees: up to $5.99 for PayNearMe; $4.95 for Green Dot Moneypak Betting
- Processing time: under 1 hour
Both PayNearMe and Green Dot Moneypak Betting work in similar ways. They provide a more private way to transfer physical tender to your betting account, and you do not enter any information regarding account number or login information.
With PayNearMe, you start by creating a payslip on your phone. Then, take the payslip to the nearest cashiering location, hand over the cash, and the money should load to your account in under an hour.
With Green Dot Moneypak, you visit the nearest location and purchase a voucher that you can redeem online.
There is no way to withdraw funds using either of these methods.
Cash at the cage
- Fees: none
- Processing time: instant
Cash at the cage is available if your sportsbook partners with a brick-and-mortar location to allow market access. However, these locations may not be convenient for everyone to get to, so this is not a widely accessible method. The process also varies depending on your sportsbook, but most follow the same basic structure.
When you are using cash at the cage, start by visiting the cashier with your device and any other information needed to verify your account, such as a photo ID and your login information. The cashier will validate the information and process your transaction.
As long as you can get to one of these retail locations, this is another private way to instantly move funds into or out of your account.
Georgia sportsbooks and their banking methods
When it comes to the best sportsbook in Georgia, we choose names that offer a variety of secure and reputable banking methods. Not only do these prove that the sportsbook is interested in serving a wide range of consumers, but they give bettors plenty of backup plans if their original method is compromised.
Sportsbooks that meet these criteria include:
- BetMGM
- Caesars Sportsbook
- DraftKings
- FanDuel
Check out what each sportsbook offers for deposits and withdrawals, along with their minimum amount for each.
BetMGM
Deposit
- ACH transfer
- Cash at cage
- Visa, Mastercard, American Express
- Play+ card
- Wire transfers
- PayPal
- Skrill
- PayNearMe
- Minimum $10
Withdrawal
- ACH transfer
- Wire transfer
- Cash at cage
- PayPal
- Skrill
- Play+ card
- Couriered check
- Minimum $20
Caesars
Deposit
- Visa, Mastercard, or Discover
- VIP Preferred
- Online banking
- PayPal
- Skrill
- Play+ card
- PayNearMe
- Minimum $10
Withdrawals
- VIP Preferred
- Online banking
- PayPal
- Play+ card
- Skrill
- Minimum $10
DraftKings
Deposit
- Online banking
- Visa, Mastercard
- PayPal
- VIP Prefered
- Play+ card
- DraftKings gift card
- Cash at cage
- Minimum: $5
Withdrawals:
- Online banking
- PayPal
- VIP Prefered
- Play+ card
- Wire transfer
- Cash at cage
- Check
- Minimum $20
FanDuel
Deposit:
- PayPal
- Online banking
- Visa, Mastercard, and Discover
- Play+ card
- PayNearMe
- Minimum $10
Withdrawals:
- PayPal/Venmo
- Check
- ACH transfer
- Play+ card
Which banking method is best for you?
Everyone has their own idea of which banking method works best for them, and it can be difficult to pin that down. So when you are trying to figure out which method is most compatible with your situation, ask yourself a few things.
What do you already use? Most people are familiar with using a debit or credit card to spend money online, and some already have e-wallets at their disposal. Starting with what is familiar reduces any more learning you need to do.
Do you need extra security for peace of mind? If so, look at the methods that keep your information further from your sportsbook. Transferring funds online is safe regardless of how you do it, but limiting the places that have your information is understandable.
Finally, are there any methods that you can not or will not use? When you know what is off the table for you, looking at what remains can help you figure out how valuable a sportsbook and its banking methods are.
The banking methods offered by a sportsbook are not negotiable, and they rarely change. Making sure that your sportsbook has methods that work best for you is essential to creating a firm foundation for betting.
Banking Methods Georgia FAQ
Should you stick to one banking method?
You should utilize as many banking methods as you are comfortable using, but sticking to one has its perks. Keeping all your money on the same path makes it easier to manage your finances and look for trends in spending and earning.
Is it better to use the same method for deposits and withdrawals?
Using the same banking method for deposits and withdrawals makes it easier to keep an eye on your bankroll, but the only time you need to is when you are withdrawing using PayPal. In addition, to cut down on money laundering, most sportsbooks require you to make a PayPal deposit before you can withdraw to a PayPal account.
Why did my bank block my transaction?
Some banks automatically block gaming transactions and will reject any requests from a sportsbook. You can sometimes have this restriction lifted, but if your bank does not do that, you need to look for another method. Most other online methods serve as a buffer without triggering your bank’s security measures.
Can I limit my transactions?
Certain banking methods allow you to put limits on your transactions. For example, it is easier to work with your sportsbooks to set limits on your deposits and bets. These can be done by day, week, or month, and they do not interfere with transactions to other merchants.
Which banking method is the safest?
All banking methods are generally safe, but methods that keep your information further from sportsbooks are generally preferred for keeping it safe. For example, methods like e-wallets or online bill pay serve as a buffer between sportsbooks and your financial information.