Best Bank Wire Betting Sites
Bank wire is one of the OG payment methods in sports betting. Over the years, it has slipped under the radar due to the proliferation of alternatives like debit cards, credit cards, and eWallets. Still, it has a lot to offer to the gambling industry. This is why it remains one of the most widely adopted deposit and withdrawal methods by sportsbooks in the US.
This piece will tell you everything you need to know about bank wires and online sports betting and how you can use it to go about your wagering ways.
Table of Contents
Best bank wire betting sites
All major online sportsbooks operating in the US support bank wire deposits and withdrawals. Our top picks are;
1. Caesars Sportsbook
Generous welcome bonus
Caesars sportsbook is one of the biggest sportsbooks in the country. It has great odds for the MLS, NHL, NBA, NCAAB, NCAAF, and the other big leagues. New users enjoy a bet match of up to $1500 for the first deposit, which they can make through wire transfer.
2. DraftKings Sportsbook
Better odds than most sportsbooks
DraftKings is owned by the WilliamHill company. It’s a huge and popular online sportsbook with fans all over the country. Users enjoy a wide selection of great odds across leagues and events in all the major sports. As a new user, you’ll qualify for a deposit bonus of up to $1000.
3. BetRivers Sportsbook
Best odds of any sportsbook
BetRivers delivers a good betting experience for all its users. Bettors get nice bet variety and occasional bonuses and promos. As for new users, you get a bet match on your first deposit of up to $250. You can make this deposit via bank wire.
4. FanDuel Sportsbook
Great promos & odds boosts
BetMGM is another top betting site that supports bank wire deposits and withdrawals. Once on board, new users are greeted with a risk-free bet worth a maximum of $1,000. You also get great odds and excellent bet variety.
What we use to rank bank transfer betting sites
Here are some features that separate top sportsbooks from average ones;
Odds determine how much you can win from a wager. The better the odds, the higher your potential winnings. This is why it’s important to compare odds on different sportsbooks before making a wager. Overall though, we rate sports betting sites with competitive odds higher than those without.
Bettors should also be able to make different types of bets across various sports. Thus, a good bank wire betting site will have all the bet types, from spreads, moneylines, and props, to totals, futures, and parlay bets.
Bonuses and rewards
Bonuses and rewards make betting a little more exciting. Thus, sportsbooks will typically run intro promos for new bettors. These types of promotions include a deposit match and risk-free bets. They reduce the risk of placing a bet, making a beginner’s first steps in online sports betting less risky.
There will also be regular promos and bonuses for people who bet regularly on a platform. They include odds boosts and bonuses and are designed to keep things interesting.
Legitimacy and security
Sportsbooks typically request some of your personal information when you’re signing up. You’ll have to give them your name, contact information, and driver’s license or social security number. And depending on your preferred payment options, you may also have to give them your banking information.
Thus, you must sign up for a secure online betting site. Generally, legal sportsbooks promise the best security for your data. You’re also assured that you will receive your payout if you win.
We test all the sportsbooks we review. Still, we look to social proof to tell us the overall public opinion on a particular sportsbook. A good bank wire betting site will have positive customer reviews, making it easier to recommend it to our readers.
How does wire transfer betting work?
Bank wire is a little different from what most people are used to today
Depositing with Bank Wire on Sport Betting Sites
Log into your online sports betting account and navigate the “Cashier” section. Select deposit and choose bank wire as your deposit method. By doing this, you’re essentially ordering that money be taken out of your bank account and transferred to the recipient’s (sportsbook) account.
So, you’ll need to know the recipient’s bank account number. The sportsbook will provide it immediately you choose bank wire as your deposit method. From there, there are three ways you can go about your bank wire transfer;
Online via your online banking provider, or a third-party site like MoneyGram or Western Union. For betting purposes, this method will do due to its convenience.
Over the phone, where you call your bank and read them the recipient’s information.
In person by visiting your bank with your account number, valid identification, and banking details account you’re sending money to.
Bank wire transactions aren’t the fastest of options. Depending on your bank, it might take less than a day or up to five days for the deposit money to reflect in your betting account.
Withdrawing with Bank Wire on Sports Betting Sites
Withdrawing is similar to depositing, only this time, it’s your online betting site conducting the transaction. Once you select bank wire as your withdrawal method, you’ll need to fill in a short form with your banking information and select the amount of cash you wish to withdraw.
Your online betting site will review the cash-in request and send the transaction request to their bank. From here, it can take up to five business days for your payout to reach you.
What you need to start bank transfers
You need a bank account to do a bank wire transfer. This is a relatively low barrier since almost everyone has a bank account. And for those that don’t have a bank account, opening one is relatively easy. All you need to do is visit the nearest bank with the relevant documents, and you’ll have your account open in no time.
Why choose bank wires for your betting site deposits?
Your bank logs all transactions that occur through your bank account. So, you can see where your money is going or coming from. It also allows for reversals when you make mistakes. If you wire your money to the wrong bank account, you can trace and retrieve it. It will cost you some time and money to do so, but at least you’ll have a good portion of your money back.
Bank wire is very secure. You’re not storing money in an online account that can be hacked and stolen from. Instead, the money is in your bank account, and it’s your bank that is responsible for the transaction. Thus, your deposits enjoy a high level of security that won’t be easily compromised.
No Need to Register on another Platform
You don’t have to open an account with another payment platform. As long as you have a bank account, you can do all your transactions with only your banking information. This saves you the hassle of providing your personal information to other online payment platforms like PayPal, Skrill, and other eWallets.
Wide acceptance rate
Almost all online gambling sites accept bank wires as a payment option. So, whichever sportsbook you choose, especially among the major betting platforms, you’ll always have bank wire available to you.
High maximum limits
Bank wires allow you to transact large amounts of money. In fact, no other payment option lets you make deposits as big as bank wire. So, if you’re a high roller, you can quickly deposit the maximum amount of money your sportsbook supports, usually $10,000.
Disadvantages of Bank Wire
Long Payment Processing Duration
There are extra steps of approval needed to complete a bank wire. Thus, wire transfer deposits and withdrawals take longer to process than other payment options. Usually, you have to wait up to five business days for the transaction to clear.
Bank wire transactions typically carry a fee. These fees vary depending on the transaction size. Overall though, they can get pretty high, with some bank wires attracting a fee of up to 10% of the deposit amount. So, if you’re a high roller, you could end up paying hundreds of dollars in charges.
High deposit minimums
High deposit maximums come with high deposit minimums. Also, the extra steps needed when moving money between bank accounts don’t favor small transactions. Thus, bank wires typically have higher deposit minimums than other options.
You may have to transact at least $200 or higher depending on your sportsbook.
Alternatives to Bank Transfer
You’ll be asked for this information when opening a betting account or a new bank account. It is used to verify your identity.
Like your driver’s license information, your SSN will be used to verify your identity.
Yeap. If your sportsbook supports that option and your bank doesn’t block gambling transactions, you can withdraw via online bank transfer.
Our top recommendations are Caesars, Betrivers, BetMGM, bet365, FanDuel, and DraftKings Sportsbook.