Bovada is the largest and most famous of the USA online sports betting sites. This firm has been in operation since 2011, when it morphed out of Bodog. The latter named sportsbook was split according to its geographical target markets and Bovada was the brand created purely for the American players. Efforts by States to Get Sports Betting In mid-2018 the Supreme Court ruled that the PASPA act of 1992, that banned sports betting was illegal and thus it has been overruled. From there on out, many states rode the wave and decided to cash in on the potential, as federal taxes are due on every winning bet.

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Compared to the rest of the world, the United States is a newcomer, inheriting and absorbing a rich variety of traditions and customs from all over, sports betting notwithstanding.

US politics betting for all American markets. Get 2020 Election odds, including Democrat and Republican candidates, plus midterm specials and much more. State that wishes can now offer legalized sports betting. Here is an update on where all 50 states (and Washington, D.C.) stand. In the absence of wide reaching federal laws, each state is required to pass its own. Since each state is able to individually establish its laws, the rules and regulations are different in each market.

So it should be no surprise that online betting in the US has been a bit behind the rest of the world. However, there are still plenty of high quality US betting sites that are available to people in the US but they can be few and far between.

That’s the main reason why we have created this page and done the tedious research of finding the very best and most trusted US sports betting sites. Our goal was to make sure that bettors from the USA could place their bets safely online without fear of getting ripped off.

So let’s jump right into it with our list of the top US betting sites of 2020:

RANK	GAMBLING SITE	BONUS	PRODUCT OFFERS	REVIEW	VISIT
1	Sign-up 100% up to€30	READ REVIEW	VISIT SITE
2	Sign-up 100% up to€200	READ REVIEW	VISIT SITE
3	Sign-up 50% up to€100	READ REVIEW	VISIT SITE
4	Sign-up Bet €10Get €30	READ REVIEW	VISIT SITE

Today’s online betting sites allow for betting on pretty much any sport you can think of and sports betting doesn’t even need to, technically, be in conjunction with an actual athletic competition. Today’s sportsbooks take bets on the winner of the coin flip or the presidential election or even who will win a reality show competition. If there’s some type of contest, there’s probably a way to place a bet on it.

Most Popular Sports to Bet on in the U.S.

There is one significant difference in US sports betting as compared to the rest of the world in that football (aka soccer) is actually the number one sport for bettors in all other locations.

In the U.S., football is also number one, but in its American version. Professional and college football betting contribute to a substantial amount of this multi-billion dollar a year industry. Betting Sites even collect future wagers on the Super Bowl before the football season even kicks off.

Basketball is close behind football with both professional and collegiate games providing non-stop action for a good part of the year. Parlays during March Madness increase substantially and the majority of those bets being placed are not in Las Vegas casinos but rather through online sportsbooks that now cater to U.S. clientele.

Baseball and hockey also factor into the top online sports bets rounded out with mixed martial arts (MMA), boxing, NASCAR, tennis, golf tournaments, and soccer.

A 2016 Gallup Poll revealed that nearly 64% of all Americans have gambled in some way, shape or form within the span of a year’s time. That adds up to more than 200 million people gambling in total. $4.7 billion were wagered on the recent 2017 Super Bowl alone. There is an incredible amount of money bet on a relatively small amount of sporting events.

Most Popular Ways to Bet

US sports betting sites provide just as many options as their live casino counterparts in regard to the types of bets that can be placed toward any given event.

When we talk about the most popular sports being football (NFL and collegiate), basketball, baseball, and hockey, there are some consistent popular options for the types of bets that can be placed.

Straight Bet

Just as the name implies, this is a simple bet based on the final score. The odds are posted but a higher bet is not required when the favorite is selected.

The Moneyline

As we’ve mentioned, this type of bet has been in the U.S. for over 100 years now and is one of the more simplistic types. It’s a bet placed in conjunction with the published odds for a particular event or game and a higher wager is required for a bet on the favorite.

The Point Spread

This takes the moneyline bet one step further and adds a handicap of points or goals to the odds. The difference is that while moneyline bettors still need to win the game, the point spread bettors have a cushion.

Totals Bet (aka Over/Under)

This bet is not placed on the actual winner or loser of a competition but, rather, on the total of goals or points accumulated.

Proposition Bets

Typically associated with the larger one-off events such as the Super Bowl, a proposition bet, aka prop bet, is a special and very specific bet. There were more than a million proposition bets on the 2017 Super Bowl alone, and they were all over the board. How long the National Anthem would take, how many times a certain name was repeated, how many times a celebrity was shown on camera, the first song of the halftime show, and the first statement of the Most Valuable Player. It goes on and on, and these types of bets are not just in conjunction with the Super Bowl, but the bigger the event, the wider the proposition bets.

Point Buying

Point buying allows the bettor to “buy points” offsetting a point spread but, in return, the bettor loses much of the profitability of the final outcome.

Parlay

A parlay encompasses bets on multiple events all in one total bet. The bettor must win all of the individual bets that are placed within the overall bet in order to win. Parlays can be further broken down into:

• Fixed Odds and Point Spread – all of the odds are the same.
• Moneyline Matches – a combination of odds of the various separate bets. These are usually good odds, but not very profitable in winnings.

Teaser

Similar to the parlay whereas all of the teams bet on must be winning, but the point spreads are adjusted in favor of the bettor reducing the final payout.

Now, just as every live sportsbook is a bit different so are the online betting sites. Even if they offer all types of betting, some may specialize in one over another. There are top parlay sites such as 5Dimes and BetOnline and top teaser sites including BetAnySports and WagerWeb. Additionally, bettors may gravitate to some of the bigger reduced juice sites that take less of a Vig. BetMania, 5Dimes, Heritage Sports, BetMania, and BetAnySports are some of the more favored reduced juice sites for US bettors.

Most Popular US Betting Sites

With over 200 overall online sportsbooks and now a good amount of those catering to players from the United States, you would think that it would be difficult to narrow down the options, but you would be wrong. There are some top-of-the-line betting sites that have history and legitimacy behind them that come up over and over again as the most popular and most reputable. That’s not to say that there aren’t other equally as good options as there certainly are, but these four websites that we’re going to detail just seem to evoke the most attention and are very appealing to US based bettors.

The four we’re going to discuss here (in simple alphabetical order) are:

5Dimes – 5dimes.eu

The 5Dimes website stands out as a favored online sportsbook primarily for due to the quantity in games, events, and betting options that it offers. The website promotes “Over 1000 wagering options every day” and it’s definitely a huge hub of activity for bettors of all levels of experience and monetary investment.

5Dimes is based out of Costa Rica and has over 15 years of experience catering to online sports bettors. They offer:

• Mini Games
• Lottery
• Poker

As far as those 1,000 wagering options daily, 5Dimes offers pretty much all of the sporting events offered anywhere else, plus some not so standard games such as handball, snooker, volleyball, and all WNBA games. The live betting option further enhances the range of possibilities.

In addition to the great magnitude of games and betting options, 5Dimes is also known for its reduced juice bets. New player accounts automatically are created as Reduced Juice Rewards accounts unless otherwise specified.

As far as other betting options, 5Dimes covers the basics but players can also select:

• Parlays
• Teasers
• Pleasers
• In-game wagering

They also offer some other alternatives that are not widely available including asian handicap, round robins, and rolling if-bets.

5Dimes’ banking transactions are competitive with other US betting sites and offer a good variety of deposit and withdrawal options that should suffice for the majority of their members.

Deposits can be made via:

• Person to Person
• ATA (Account to Account)
• Bank Wire
• Bitcoin

Deposits are all free with the exception of the money order and person-to-person option. Fees are not published but it is advised to contact customer service before finalizing any deposit to make sure you have all of the information up front.

Withdrawals do not include the credit or debit card option and do have associated fees with the exception of Bitcoin. Bitcoin is one of the best methods in regards to both turnaround time and zero fees attached. We’ll also get into Bitcoin in the banking section as it does offer the easiest and most inexpensive way to interact with an online player account.

Withdrawal methods:

Bitcoin – zero fee
Minimum Withdrawal = $50
Maximum Withdrawal – $10,000
Turnaround time – same day processing

Cashier’s Check – $40 – $80 fee
Minimum Withdrawal = $1,000
Maximum Withdrawal – $7,500
Turnaround time – 7-10 business days

Money Order – $80 fee
Minimum Withdrawal = $1,000
Maximum Withdrawal – $9,500
Turnaround time – three business days

Bank Wire – $80 fee
Minimum Withdrawal – $1,000
Maximum Withdrawal – $9,500
Turnaround time – 4-6 business days

Person to Person – $10 – $25 fee
No minimums or maximums stipulated

We want to note that 5Dimes publicizes that one withdrawal is free of charge every 30 days.

Although 5Dimes’ banking is a bit more conservative in its maximum amounts, this is a good site for the all around bettor who enjoys access to a huge number of available games and events 24/7 and 365 days of the year.

Player feedback is generally positive in regard to 5Dimes with the one downside being the length of processing time for cash out requests. There are very few online casinos or sportsbooks that don’t experience criticism in this area, though.

BetOnline – betonline.ag

Considered to be the second largest of all online betting websites for U.S. players, BetOnline initially launched in 2001 as BestlineSports but rebranding resulting in Betonline.ag in 2007. BetOnline has 15 years of experience backing it and enjoys good player feedback.

One of the outstanding features of this particular sportsbook is in the reported fast payouts. Turnaround time is relatively fast and the process is made easy for its players. It also offers some of the best Parlay betting among US betting sites.

BetOnline.ag is hosted and licensed in Panama City, Panama and is a good all-around site for sports bettors with a comprehensive stats center featuring gaming trends. This type of detailed information makes it easy for players to conduct extensive research before actually placing a bet. Additionally, BetOnline is known to post its lines earlier than some of its competitors. Compared to another one of the biggies, BetOnline posts their lines on Sunday as opposed to Tuesday for the upcoming NFL games.

New players are welcomed to a 50% sportsbook bonus on deposits up to $2,500.

Betonline.ag also offers:

• Racebook
• Casino
• Poker

When it comes to the actual sports betting options, though, there is an impressive variety presented on BetOnline. Of course, they have the NFL, NBA, MLB, and NHL, but they also offer auto racing, boxing, darts, esports, rugby, lacrosse, softball, and pool.

Let’s back up to “esports” because that one might be a bit surprising. Esports is online video gaming. These are video game player matches that now offer online wagering in conjunction with them. The BetOnline sportsbook details the upcoming matches for betting consideration.

Not stopping at sports and esports, betonline.ag also gets into futures and prop betting with politics and entertainment. Gone are the days of just picking a winning team as you can now throw down some money on whether or not your favorite reality show will be the last man (or woman) standing.

In regard to the actual types of bets, we have already mentioned future and prop bets but, in addition to standard moneylines, parlays, and teasers, BetOnline members can opt for special teasers that, in regard to football betting, offer either a 10 point or 13 point advantage.

Buying points is something we’ve briefly mentioned previously, and is one of the popular options at BetOnline. Bettors can buy up to two points at a cost of 10% extra for every half-point.

BetOnline does specifically post a 10% Vig providing players with full disclosure and new bettors with no surprises when it comes to final outcomes.

Getting into the funding end of things with BetOnline, you’ll see that players experience large wagering limits clearly outlined in the higher maximum withdrawals that can be requested.

Deposit methods are plentiful and range from a low maximum deposit of $600 with person-to-person and up to $25,000 with Bitcoin, Litecoin, and cheques (well, actually $24,900 for cheque deposits).

The following is the full range of BetOnline.ag accepted deposit methods:

• Visa
• Mastercard
• Bitcoin
• Litecoin
• Person to Person
• Money Orders

Skrill, Neteller, book to book, and bank wires do not have any accompanying maximum deposit amounts imposed and we haven’t found any published fees associated with any of the deposit methods listed on the website.

Withdrawals do not include the credit card, debit card, or money order option but all of the rest are available with the following guidelines:

Bitcoin – zero fee
Minimum Withdrawal = $20
Maximum Withdrawal – $10,000
Turnaround time – 48 hours

Litecoin – zero fee
Minimum Withdrawal = $20
Maximum Withdrawal – $10,000
Turnaround time – 48 hours

Person to Person – $26 – $191 fee
Minimum Withdrawal = $50
Maximum Withdrawal – $400
Turnaround time – five business days

Skrill – $20 fee
Minimum Withdrawal = $25
Maximum Withdrawal – $9,900
Turnaround time – 36 hours

Neteller – $20 fee
Minimum Withdrawal = $25
Maximum Withdrawal – $9,900
Turnaround time – 36 hours

Book to Book – “may have a fee”
Minimum Withdrawal = $500
Maximum Withdrawal – $24,900
Turnaround time – 24 hours but typically completed in a few hours

Bank Wire – no fee posted
Minimum Withdrawal – $500
Maximum Withdrawal – $24,900
Turnaround time – 7-15 business days

Cheque Express – $50 fee
Minimum Withdrawal – $500
Maximum Withdrawal – $2,500
Turnaround time – seven business days

BetOnline also provides its players with a $50 discount on one payout a month. However, this must be specifically requested and is only available on Fridays.

As an all around good sportsbook based upon the variety of the events as well as the accompanying betting options coupled with numerous banking methods and a relatively quick turnaround time for cash outs add up to a good go-to for online bettors in the United States.

On a side note, the platform is also available through SportsBetting.ag. Bettors will experience the same odds and the same management associated with BetOnline.ag.

Bookmaker – bookmaker.eu

If you take into consideration that Bookmaker actually launched its service via phone betting in 1985, it becomes one of the oldest remote-accessed sportsbooks around. Bookmaker’s service caters greatly to bigger bettors with higher betting limits and greater maximums on banking transactions.

Bookmaker is known for its expanded selection of the types of bets that can be made. Yes, it does offer a huge choice of events for which to bet, but also factors in a plethora of ways to bet on them.

Experienced bettors do note that Bookmaker posts lines earlier than many of its competitors but they may not have the best lines amongst those other websites.

The Bookmaker.eu website also offers:

• Racebook
• Casino
• Poker

So, just as all of the sportsbooks that we’ve been discussing offer the standard games sought out by US bettors including football, basketball, baseball, and hockey, Bookmaker’s expanded competitions cover the gamut.

Soccer, tennis, golf, Formula One racing, rugby, and boxing round out the sporting events. Politics, the Academy Awards, the Grammy Awards, and reality TV take sports betting to a whole different level. There’s no longer a need to be stats driven in order to make an educated bet, today’s bettor can simply be a fan of entertainment or a follower of the political world.

The actual types of bets that can be made allow Bookmaker to stand out and cater to even more online bettors.

Yes, you’ll find moneylines, teasers, and parlays, but you’ll also find:

• Sides
• Totals
• If Bets
• Reverses

If bets and reverses are similar in nature. “if bets” allow for the selection of 2-6 teams or other categories. If the first pick results in a win, tie or a cancellation, the subsequent ones become straight wagers

Reverse bets are two-game wager options and could be equated to a “box” in horse racing where the two “if bets” are dependent upon each other to carry the resulting win.

Bookmaker also offers no-fee deposits and, just as with the types of bets, it offers standard modes of deposits plus a few more.

Bookmaker’s accepted deposit methods:

• Neteller
• ecoAccount
• Person to Person
• Bank Wire

American Express deposits start as low as $25 but only allow for a $499 maximum deposit. Visa is a bit higher at $50 but allows for $2,500 to be transferred into the player’s account at one time. For a bigger money alternative, Bitcoin once again reigns supreme. Only $10 is needed for a Bitcoin transaction but that amount can extend all the way up to $50,000. Bank wires don’t have any associated maximums imposed.

As far as the almighty cash out, there are four withdrawals from which to select and, once again, Bitcoin is the preferred alternative.

Bitcoin – zero fee
Minimum Withdrawal = $50
Maximum Withdrawal – $25,000 (up to 25/monthly for a total of $100,000)
Turnaround time – immediate after approval

Bank Draft – $50 fee
Minimum Withdrawal = $100
Maximum Withdrawal – $3,000
Turnaround time – seven business days

Skrill – $20 fee
Minimum Withdrawal = $25
Maximum Withdrawal – $9,900
Turnaround time – 36 hours

ecoAccount – zero fee
Minimum Withdrawal = $100
Maximum Withdrawal – $1,000
Turnaround time – 2-3 business days

Person to person – $25 – $50
Minimum Withdrawal = $100
Maximum Withdrawal – $300
Turnaround time – 2-3 business days

We specifically mentioned that BetOnline was a good alternative for higher stakes bettors, but Bookmaker also caters to those players especially through bitcoin use.

The cash out turnaround times do appear to be quite reasonable, even better than most, but actual players report that they’ve experienced some delays that add to the specified processing timeline above. The games and the incredible assortment of bets that can be opted for make Bookmaker a great choice of sportsbook bettors, but players should anticipate delays in withdrawals over and above the published details provided by the website.

Bovada – sports.bovada.lv

Last, but certainly not least, we’re going to discuss Bovada, widely considered to be the largest and most highly trafficked of all US sports betting sites and one that we consider to be a more upscale online experience through a nicely designed, easy to navigate website.

Bovada launched in 2011 and placed its emphasis on building and catering to US based players seeking a dedicated go-to for online sports betting. It does accept players from the United States with the exception of residents of Delaware, Maryland, Nevada and New Jersey.

The Bovada website also offers a racebook, poker room and a casino.

Standard events and competitions are widely recognized and promoted. Bovada features basketball, baseball, hockey, soccer, tennis, UFC and MMA, and golf as its core line-up but then peppers in some obscure additions in order to make things a bit more interesting.

Some of its other categories include:

• Cycling
• Handball
• Aussie Rules
• Winter Sports – such as World Cup events

Bovada also hosts one of the more extensive schedules of esports events that can be found online.

Live betting is another option that lends itself to the popularity of Bovada and is easily accessible right from the top of Bovada’s sports menu.

Whereas we’ve discussed a few other popular online sportsbooks that primarily offered no fee deposits for its players, Bovada does veer off in a different direction.

Newly registered members of Bovada can conduct one no-fee deposit as their first one but, after that, Visa transaction incur a 4.9% charge and Mastercard is even higher at 6.9%. We’ve said it before and we’ll say it again, Bitcoin is the best option for sportsbook transactions for American players as Bitcoin eliminates the assessed deposit and withdrawal fees.

Bovada lists only credit cards and Bitcoin among their accepted deposit methods but, in some cases, may approve a gift card transaction as well.

As far as cash outs, there are a few from which to select and the first withdrawal of the month is always free. After that, Bovada tacks on a $50 fee to subsequent withdrawals aside from Bitcoin.

Bitcoin
Minimum Withdrawal = $20
Maximum Withdrawal – $9,500
Turnaround time – 1-5 days

Check by Courier
Minimum Withdrawal = $50
Maximum Withdrawal – specified to be in $3,000 increments
Turnaround time – 5-10 business days

There are some other options available for withdrawals from player accounts such as Western Union and bank wire, but these need to be set up through Bovada’s customer service department.

This betting site has some outstanding offerings such as in their types of bets and fast payment processing, but there are a few things that detract from the overall experience such as fees imposed on deposits as well as withdrawals, and the lines are posted much later than some of its competing websites.

However, with a reported three million visitors to Bovada, player satisfaction is widely recognized.

Other Options

As we’ve stated, the aforementioned betting sites pop up time and time again as some of the best, but there are also some other great options for U.S. players including GTbets, MyBookie, SportsBetting.ag, BetMania, Heritage Sports, and WagerWeb.

Legality of US Online Betting

If you research sporting events open for wagering and review the odds and possible betting outcomes, everything is strictly black and white. A specific amount wagered utilizing posted odds yields a very explicit outcome. There’s definitely no gray area and no discussion needed.

Discuss the legality of U.S. players placing these bets with online sportsbooks and it’s a bit of a different story. There are numerous discussions and various points of view regarding online gambling for United States citizens as a whole, and then take into consideration 50 different state regulations and alternative positions, and we’re looking a whole lot of information, sometimes conflicting.

There are three highly-referenced laws in conjunction with gambling in the United States:

1. Unlawful Internet Gambling Enforcement Act of 2006 – this is the big one that drove U.S.-based online casinos and sportsbooks overseas. This act was attached to the Safe Port Act and technically does not state that online gambling is illegal. What it does do, however, is legislate that businesses cannot process money for betting or gambling payouts. This affects the betting sites but not the bettors themselves.

2. Federal Wire Act – This act, that’s actually much older, specifically called out sports betting in 2011 and states that a betting business cannot use any form of wire communication for bets or transfer of funds used in conjunction with wagering. This, again, is a United States law in conjunction with United States’ businesses.

3. Professional and Amateur Sports Protection Act (PASPA) of 1992 (aka the Bradley Act) – This regulation is more land-based sportsbook focused and is country-wide except for grandfathered states such as Nevada that are essentially exempt. It effectively outlawed sports betting except for those specified exemptions. There have been and still are attempts to repeal this act by various states such as California, Iowa, Missouri, New Jersey, and Rhode Island with claims that some states would benefit from revenue generated by legalized sports gambling. We would expect for some changes to occur in conjunction with this particular legislation in the very near future.

The United States maintains one of the more stringent positions on gambling, especially online gambling, in comparison to much of the rest of the world. The internet and other technological advances have expanded the possibilities far and beyond the borders for U.S. citizens, though.

So, while legal sports betting in the U.S. is limited to Nevada and Delaware, with states such as Oregon, Montana, and New Jersey moving forward with some new legislation, online sportsbooks are a different story.

So Is Betting Online Legal in the US?

Basically, it all boils down to U.S. players being able to place bets through online betting sites if both of the following criteria are satisfied:

1. The betting site operates outside of the United States
2. The betting site allows U.S. citizens to register an account and to place bets

Online casinos and sportsbooks are globally widespread but the majority who have opened their doors to U.S. players are from:

• Canada
• Curaçao
• Costa Rica
• Panama
• United Kingdom

Each betting site does carry individual stipulations in regard to US players, though. Some are 100% open to players from all 50 states as long as they are 18 and over. There are others that specify the exclusion of certain states. For example, Bovada sportsbook that has a huge online presence doesn’t allow players from Delaware, Maryland, Nevada or New Jersey. 5Dimes, another big player in the industry and licensed out of Costa Rica, doesn’t have state-specific exclusions but does stipulate that residents of Delaware, Maryland, and Washington State cannot use Visa to deposit to their player account.

Banking Options

As we’ve outlined in the earlier section when we discussed some of the featured US online sportsbooks, each operator puts forth a different list of available banking options. Some, like Bovada, are a bit more limited in regard to banking but others, such as Bookmaker have a pretty good range of methods that can be utilized for both deposits and withdrawals.

These particular methods are available to U.S. players in different combinations based upon the individual sportsbook:

• American Express
• Mastercard
• Visa
• Bitcoin
• Neteller
• Skrill

• Bank Wire
• Money Order
• Moneygram
• Check
• Person to Person

Credit and Debit Cards – The Easiest Method

The credit or debit card provides the absolute quickest and easiest method for funding a player account. Typically players do not need to involve Customer Service as they simply fill out a form and leave it to the bank to approve or not. If a player’s banking institution does approve the transfer, the funds are available instantly. However, there are some banks that will not approve any transactions in conjunction with an online sportsbook or casino so it’s a case-by-case basis.

Thumbs up:

• Credit and debit cards provide a quick and easy way to fund a player’s account.
• Funds are instantly available for immediate wagering.

Thumbs down:

• Typically are not offered as methods of withdrawal (only deposit).
• Not all transactions are approved.

Skrill or Neteller – The Most Private of Methods

With growing popularity of Skrill and Neteller accounts in the United States, they could become popular with online bettors should the laws change any time in the near future. Unfortunately, the three U.S. states that can legally offer gambling for their residents do not all count Skrill and Neteller among their payment options. Both Skrill and Neteller are basically used as either an e-wallet or prepaid credit card, and carry with them a much higher approval percentage than credit or debit cards and maintain the financial privacy of the account holder.

Thumbs up:

• High approval rate for transactions.
• Player’s personal and banking information remains private.
• Funds are instantly available for use.
• These two types of accounts were initially created with online gamblers and bettors in mind.

Thumbs down:

• Accounts do need to be established before transfers can be conducted.
• Not available options for online wagering on the majority of the three U.S. legalized gambling states.
• Fees are sometimes associated with withdrawals to Skrill or Neteller accounts.

Bank Wire – Widely Accepted Method for Deposits and Withdrawals

Bank wires essentially move funds directly from a player’s own personal banking account into his or her gaming account. Bank wires are approved dependent upon funds available and paperwork submitted but do cause delays in processing and fees can also be assessed.

Thumbs up:

• Transactions are approved as long as funds are available.
• Many US betting sites do offer the wire transfer option.
• Can typically be used for deposits and withdrawals.

Thumbs down:

• More extensive paperwork is involved.
• Relatively high fees may be assessed in conjunction with wire transfers.
• Player’s personal banking information is disclosed to the sportsbook.

Bitcoin – The Overall Best Method for Sportsbook Account Funding

With fee-free transactions and high limits imposed on both deposits and withdrawals, Bitcoin is the overall winner, hands down. Cash in and cash out both have a quick turnaround time for processing and Bitcoin is private as well as a fairly easy way to conduct banking.

Thumbs up:

• Quick turnaround on transactions.
• Can be used for deposits and withdrawals.
• Lower minimums and higher maximums on deposits and withdrawals.
• Private and secure.
• Saves players money in regard to fees that are typically assessed.

Thumbs down:

• Bitcoin accounts require time to establish.
• Lengthy codes are sometimes used to approve transactions.
• Bitcoin is not widely accepted elsewhere.

Most online betting websites that cater to U.S. players understand the challenges that financial transactions pose in regard to funding and receiving funds from an online player account. It is vastly different than walking into a Las Vegas casino and placing a cash bet and then turning around and collecting the winnings in cash as well. There are various considerations and hurdles that need to be overcome in order to easily conduct these online transactions.

Fortunately, because of Bitcoin, American players now have a more private and safer option that allows them to wager and claim any potential winnings.

Compared to Other Regions

The financial situation that we’ve described earlier is specifically in regard to players from the United States. With the legalities of online betting as they are, online sportsbooks need to consistently keep up with banking and new and alternative forms of account funding.

Banks in the USA are less apt to approve casino or sportsbook transactions as opposed to other parts of the world, primarily due to the perceived vagueness of online gambling legislation. However, the legislation places the challenge in the hands of the website providers who process the bets and subsequent financial transactions as opposed to the actual players who are placing the bets.

Removing the physical presence of the business from the U.S. overcomes the biggest hurdle, but the banking issue remains when pertaining to the traditional banking institutions.

Bitcoin does a great deal to facilitate easier account funding and the subsequent betting process and e-wallet solutions specifically cater to online bettors. Skrill and Neteller are widely used globally, not only because they allow for fast and easy payment processing and receipt, but also because they maintain the anonymity of the player in regard to any personal financial information.

Banks in other areas of the globe are more accepting of online betting as their laws permit these types of transactions with no gray area, but players are still moving more toward Bitcoin or one of a growing number of e-commerce solutions for transactions simply because of the privacy and ease factors.

The sports betting industry has continued to grow in the United States despite the restrictions imposed in regard to live casino sports betting as well as online betting availability to US residents.

There are some very reputable online sportsbooks that maintain quality websites and up to date information for their U.S. clientele that opt to wager on their posted events. They evolve with the new technological advances thereby offering more funding alternatives and faster and easier ways to receive payouts.

These betting sites are licensed and regulated and have proven track records of fairness and responsive player support regardless of their remote locales.

The US sports betting market continues to grow with more and more states drawing up new legislation to accommodate for legalised betting.

Most recently, Washington joined the list of states which have legalised sports betting in some way taking the current total to 21.

But where does that leave online gambling and specifically betting exchanges?

Let’s find out.

Betting exchanges in the US

If you’re in the US, you’re probably wondering what a betting exchange is…

Betting exchanges are online betting sites which match players together. They are essentially eBay for gambling.

Instead of betting against the bookmaker, at an exchange you bet against other gamblers. The exchange simply provides the marketplace and technology to match punters looking to place opposite bets.

Whilst this might be a new concept, betting exchanges are fairly straightforward once you’ve got your head around them.

Betting exchanges are very popular in Europe for several reasons.

• Better value odds
• Option to lay bets

Exchanges typically provide better value odds for punters meaning you’ll make more money from a winning bet.

Another benefit of the exchange model is the option of laying bets. This is a more advanced method of placing bets which we’ll cover in another article.

Challenges of the US betting exchange market

Due to the patchwork nature of current betting legislation in the US, there are various challenges that exchange platforms face.

With online gambling, punters can place their bets remotely. However, exchanges face an extra challenge in that exchanges need to be ring-fenced around each state.

Punters in New Jersey can’t place wagers with those in Indiana for example. Exchanges can’t match wagers across state lines.

This is one of the main reasons betting exchanges aren’t already up and running in some US states. Operators need to ensure their platforms meet the required security.

When will betting exchanges open in the US?

So when are we likely to see the first betting exchange open in the US?

There’s good news on the horizon. Various betting exchanges are taking steps towards opening their platforms in US states.

Betfair exchange in New Jersey

The world’s most popular exchange, Betfair is currently trialling a beta version of their horse betting exchange in New Jersey. This is a safe, legal and regulated platform where you can play horse racing online.

Check out this infomercial for more information.

To access the platform, you need to have a 4NJBETS or New Jersey Exchange Account. If the software deems you’re outside New Jersey, it won’t let you connect.

This is the technology that Betfair and other exchange platforms will be required to use as the betting exchange market moves forward in the US.

Once Betfair is confident about its strategy and platform in New Jersey, the next step is to look to other states.

Americans can also place their bets via TVG, owned by Betfair. This platform is available in various US states making it a great option for those not based in New Jersey.

Smarkets exchange

Another popular platform in the European market, Smarkets is also moving towards a US betting exchange launch.

Back in late 2019, Smarkets reached a deal with Full House Resorts in the US which gives it access to sports betting in Indiana and Colorado.

To start with, Smarkets is just providing a traditional sportsbook platform. However, it hopes to bring its popular exchange model across the pond in the near future.

Here’s what Jason Trost, CEO and founder of Smarkets said:

“As an American myself, I’m thrilled to bring our world-leading technology to Indiana and Colorado, as well as more states across the country.”

“I truly believe that an agile company like ours can make a huge impact against some of the bigger players thanks to our superior technology and focus on providing the best prices.”

The future for Smarkets in the US looks very bright.

Tradesports

Us Betting Markets

Various other betting exchanges are starting to pop up in the US betting exchange market. Tradesports is a great example.

Founder Ron Bernstein believes that Americans are ready to gamble on sports like they trade stocks. This is exactly what the betting exchange model offers.

He said, “As long as we can create an offering that isn’t too intimidating, we think there’s a really big niche in the professional trader market.”

I expect to see more and more new companies like Tradesports in the coming years as people look to maximise their share of the up and coming betting exchange market in the US.

Matched betting in the US

One of the great things about betting exchanges is that they provide the opportunity to make money with matched betting.

I’ve written about matched betting in the US before and this market is certainly going to take off once exchanges are more widely available.

Americans will be able to make a guaranteed profit from bookmakers free bets and promotions all from the comfort of your own home.

Us Betting Websites

Matched betting has become incredibly popular in the UK with thousands of people using this strategy to make money online.

I doubt it will be long before Americans can do the same.

Betting exchanges in the US

Us Betting On Election

The sports betting market in the US is gaining momentum daily. Whilst there are further challenges for betting exchanges to overcome, operators are already taking the required steps to test the water.

Sports Betting

All in all, betting exchanges are slowly making their way into the US market. It won’t be long before you can place bets at an exchange like Betfair or Smarkets in states with the required legislation.

Us Betting Exchanges

What are your thoughts of betting exchanges in the US? Let me know by leaving a comment below right now.