Sportsbooks That Accept Bank Transfers
It has become increasingly difficult for gamblers in some parts of the world to send money back and forth with their online sportsbook or casino accounts. This is particularly true in North America, both the US and Canada, thanks to changes to American financial laws about a decade ago. Since that time, Americans have wondered: “What’s the easiest way to transfer funds to my sportsbook?”
Bank wire transfers are a unique solution to this problem, because they are a respected and long-extant means of making financial transactions. Since well before the explosion of interest in online sports betting, banks have been making wire transfers.
In fact, the history of these types of funds exchanges goes back to the days before telephones. The longevity of bank wire transfers is in part due to their reliability, and in part due to the ease for both the banks and the customers involved.
Are there downsides to using this method? Undoubtedly. But for gamblers in America and Canada, it is one of the safest and most-effective ways of funding a player account. Even gamblers in parts of the world where easier transfer methods are available, the convenience and security of a bank wire make it an attractive option.
Bank Wire Transfer Basics
Let’s remove the whole gambling element for a second and take a look at the bare bones of what a bank wire transfer actually is. Look the phrase up online and you’ll find some handy and contrite definitions. On its face, a bank wire transfer is a means of electronically transmitting money from one person or persons to another, through banks or other financial institutions.
What about that weird name, “wire” transfers? It comes from the earliest days of this method, when (in the 19th century) banks made such exchanges over literal telegraph wires.
Banks like wire transfers because they make money in both directions, charging a fee for both sender and receiver. But these fees are relatively low compared to other transfer methods (or at least equivalent to them), and no matter what, paying a small fee beats not being able to transfer money at all.
How much are we talking? Different governments control the price of these exchanges. In the US, as of this writing, international transfers cost the sender $36 and set back the receiver $12. For the purposes of online gambling, you better believe the book will pass that fee on to you. Most likely, an American bettor will pay $48 to send their bankroll to an international book or casino.
So why use bank wire transfers? For some bettors, $50 represents ten wagers, and is a significant “con” for this method. Simply put, bank wires are government-regulated, making them by far the “safest” and one of the quickest methods for adding or withdrawing from online sportsbooks. Take note, though, that some books don’t allow customers to perform withdrawals this way.
The actual process of using a bank wire to transfer funds varies from book to book, country to country, and even bank to bank. Because of the sheer amount of variety involved, it’s hard for us to walk a customer through a typical transaction. Contact your sportsbook and find out how they process transfers of this type.
The best feature of making a bank wire transfer? It’s almost universally-accepted by books and casinos all over the world. You may not like the fee, but you’ll like the fact that it’s accepted just about everywhere.
Bank Wire Transfers and North American Customers
Customers in the United States and Canada are probably the ideal users of this particular method, though that doesn’t mean international customers can’t take advantage of it as well.
It is particularly suited to the US market because of financial restrictions in America that limit how banks can do “direct business” with gambling websites. Since this isn’t a direct dealing, involving you the customer as a middleman, it’s totally kosher.
The fees may be a bit hard to take, particularly for those of us without massive bankrolls, or bonus-chasers for whom $40 or $50 is a big part of their advantage. In that case, other alternatives to traditional payment methods exist that have lower fees – credit cards and certified checks are probably cheaper AND both available to North American customers.
All in all, the use of a bank wire transfer is one of the methods we recommend most for customers in the United States and Canada. It’s super easy and convenient and since you can easily do it online and from home it’s a lot less hassle than depositing via Western Union.
Bank Wire Transfer Approval Rate Percentage
Because bank wires are government-regulated and managed electronically by banks, the approval rate ought to be 100%, or extremely close to it. The only way a bank wire transfer would not be approved is if it were rejected by the receiver or canceled (at great cost) by the sender.
Overall, we can’t recommend enough that North American gamblers should look into using bank wire transfers to fund their online gaming accounts. It’s safe, it’s somewhat fast, and though it’s expensive, it’s pretty much guaranteed to go through.
Bank Transfer-Friendly Sportsbooks
Good news for customers who want to use a bank wire to fund their online account – plenty of sportsbooks that do business with North American customers accept this form of transfer. That has as much to do with the reputable nature of this method as its ease-of-use. Here are some of our favorite books that accept bank wire transfers.
5Dimes – You won’t find bigger fans of 5Dimes for US and Canadian sports bettors than us here at Picks.org. Not only do they have one of the biggest and most varied lineups of promotions for customers, they also cover a huge variety of betting markets. They accept deposits by bank wire, but you will pay a fee for the privilege. Currently no special promo offers exist for bank wire transfer customers.
>> Sign up at 5Dimes today and get a deposit bonus up to $520.
BetOnline – BetOnline is another big player that we love for all sportsbook customers, but for North American bettors in particular. Like all the world’s biggest books, the variety of promos, markets, and special offers makes it a prime choice for any sports bettor. The site accepts bank wire transfers, and promises a turnaround time of 2-4 business days. Take note, they DO NOT accept money orders in place of actual certified checks.
>> Check out BetOnline today – USA customers accepted!
Bet365 – This is a big-time player in the online sportsbook industry, known as much for good customer service as for variety of betting markets and special live and in-play options. Bet365 sportsbook accepts bank wire deposits, and best of all, they’re totally free.
>> Sign up at Bet365 today and get your instant cash bonus right away.