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Wire Transfer Sportsbook Deposits
The best sports betting sites make sure that they have a variety of payment options to accommodate players from all around the world. You will usually find options for credit cards, debit cards and electronic wallets.
If you are looking for an alternative to those options that have been mentioned, you could try wire transfers. Check out what this deposit option is all about!
Advantages of Sports Betting Using Wire Transfer
The main upside to using wire transfers for sports betting sites is the high level of security you get. When you make online payments through a bank, you do not need to disclose your credit card or debit card details to online sportsbooks that support wire transfers. If you have never been comfortable with the idea that you need to type in your card details at a website, then wire transfers may be your solution.
How Wire Transfer Sportsbook Deposits Work
When you use a wire transfer, you have to process your online payment through your local bank, or through the bank’s website. This means that you don’t transact with the new sports betting site itself, like you do when you use a credit card. This means that when you use a wire transfer, your details are never revealed online, because you are protected by the top-tier security measures of your bank.
For every sportsbook deposit that you make, your bank will require that you give your authorisation (usually through a passcode) in order to push a transaction through. These passcodes usually come in the form of a code sent via SMS. This is great for security, because you will be notified every time there is an online transaction in your name. If you change your mind about the deposit, you can simply opt out by not replying with the passcode.
Disadvantages of Sports Betting Using Wire Transfer
The great disadvantage of using wire transfers for sports betting is that the processing can take a long time. With wire transfers, you process transactions through the bank and not the online sportsbook. This means that you are affected by the bank’s regular working schedule. If you make a deposit, it can take anywhere from a few days to a week before the money reaches your sportsbook account. This can prove to be frustrating if you are looking forward to placing a wager for a game that is ongoing.
If you like to bet at a sports betting site that is not registered in your own country, it can even take a longer time to process a payment. So if you do want to use wire transfers as your regular sportsbook payment option, you should choose a bookmaker that is registered in your own country for quicker transactions.
Another disadvantage with this type of sportsbook deposit is that you will often encounter charges and fees, because you end up utilising the services of the bank. Online transactions that involve currency conversion typically have higher rates, so this can be a bit annoying if you like making bets at multiple sports betting sites.
Should You Choose Wire Transfers for Sportsbook Deposits?
As an online punter, if your primary concern with online transactions is safety, then sports betting using wire transfers is a pretty solid choice. As we pointed out earlier, wire transfers are highly regulated and are carried out by the banks themselves, so you don’t need to worry about hackers who try to steal credit card details online.
The real struggle with this option is that it takes a long time for sports betting sites that accept wire transfers to process transactions. If you like the idea of not having to disclose credit card details but you want to have quick payments, you can try pre-paid vouchers like Paysafecard sportsbook deposits. This type of payment option uses a passcode that is written on a voucher you have to purchase from an outlet or convenience store. The advantage of using Paysafe vouchers is that your transactions are not dependent on banking hours.
If, however, you value security and you don’t mind waiting a few days to fund your sports betting account, then wire transfers should be a suitable option for you.