Esports betting isn’t free. You need to risk something before making wagers and winning money.
To do this, you must place a deposit. You should find the deposit process to be fairly simple at most esports betting sites.
Furthermore, you’ll have a variety of banking options to choose from. But with so many options available, you might not know where to begin.
The following guide discusses the various banking methods that are available in the world of esports gambling. It also covers how to place deposits and qualify for bonuses.
Available Esports Betting Deposit Options
The number of deposit methods available will vary based on the specific betting site. But you should find at least a few of the following options wherever you place wagers.
Credit cards (e.g. Visa) are the most popular way to fund an account at esports gambling sites. They let you place instant deposits with little effort involved.
You simply need to enter your credit card number and CV2 code to deposit. From here, you confirm the transaction and will receive funds instantly.
The one catch with credit cards, though, is that they have a high rejection rate. Even processors in legal online gambling jurisdictions sometimes reject credit cards.
Therefore, you need to prepare for the possibility that your deposit could get blocked. Provided you’re fine with this, though, then you can look forward to instant transactions when depositing.
An e-wallet (e.g. Neteller, Skrill) serves as an intermediary between your bank account and another party. In the case of esports gambling, an e-wallet facilitates payments to the betting site of your choice.
You can get started by registering and linking a bank account to your e-wallet account. Afterward, you can send and receive payments via the service.
This dual purpose makes e-wallets perfect if you want an all-in-one banking option. However, the fees on withdrawals can be fairly high at 3% or so.
Some esportsbooks accept Bitcoin and other cryptocurrencies. Bitcoin (BTC) is an especially popular way to deposit and cash out with cryptocurrency.
It’s a decentralized digital currency that’s free from bank and government control. Therefore, no third-party can reject your transactions.
BTC and other cryptocurrencies typically allow you to deposit and withdraw without spending much on fees. But they do require a slight learning curve compared to more established banking options.
If you don’t want to sign up for a credit card, you can always opt for a prepaid card instead. When you purchase a prepaid card, you’ll be given a PIN number. You use the PIN to complete your betting deposit.
As can be seen, prepaid cards are rather easy to use. They also offer immediate funding to an esports gambling account.
The only downside, though, is that not as many betting sites accept prepaid cards. You should check the banking section to ensure that this option is available beforehand.
With a bank transfer, you send funds from your bank account directly to an esports betting site. You just need to enter your account and routing number to complete the transaction.
A bank transfer serves at yet another simple way to place deposits. It’s also convenient if you already have a checking account set up.
Keep in mind, though, that you may need to wait several days for the funds. But provided you’re willing to wait, then bank transfers are worthwhile.
You can send wire transfers through your bank or a dedicated service. Regarding the latter, Western Union is the most common dedicated wire service.
The best part about wires is that they supply funds instantly. However, you need to meet with a bank or Western Union rep directly to provide your details. You’ll also have to pay a high fee to send wires.
Which Banking Method Is the Best?
In terms of usability, nothing is more convenient than a credit card. You can quickly sign up for a credit card and place deposits with no trouble.
As mentioned before, though, credit cards also draw the highest rejection rates. If you run into this problem, then you’ll need to find an alternative banking option.
E-wallets are handy because they allow for both deposits and cashouts. Assuming you already have a bank account, you won’t experience any problem getting started with an e-wallet. Again, though, you should beware of the transaction fees involved.
Cryptocurrencies are definitely worth considering if you live in a state/country that has ambiguous online gambling laws. Not all traditional financial institutions serve such jurisdictions.
Bitcoin and other crypto provides an alternative to get around such restrictions. The drawback, though, is that you must purchase cryptocurrencies with regular money beforehand.
No single perfect deposit method exists. Therefore, you simply need to consider what the best option is based on your personal preferences.
How to Deposit at Esports Gambling Sites
Many esports betting sites do a good job of offering instructions on how to place deposits. If you need any help, though, you can use the following tips when funding an account.
Step 1: Sign Up for an Account
After finding an esportsbook that you like, the first step is to complete registration. You must select the signup button to get this process started.
From here, you fill in the requested fields. Betting sites ask for basic information, such as your address, email, and name.
Once finished completing the form, you submit it and wait for approval. The site should instantly approve your account so long as you’re old enough to bet.
Step 2: Visit the Banking Section
As a registered member, you’ll be eligible to place deposits. You need to visit the banking area to get this process started.
The banking section will provide an overview of both deposit and withdrawal methods. You’ll see some or all of the options that were covered before.
Step 3: Choose a Deposit Method
You can use the information in this guide to make a determination on your banking option of choice. Again, every method has its pros and cons.
Some deposit options are only available to certain countries. This aspect cuts down on some of the methods that you can use.
Step 4: Enter Your Deposit Amount
The next step involves deciding how much you’d like to fund your account with. Upon selecting a banking option, you’ll see a blank field where you enter the amount.
Each betting site features a minimum and maximum deposit amount. You must fund your account with at least the minimum before becoming eligible to place esports bets.
Step 5: Confirm the Transaction
The final step involves confirming your deposit. This is a simple matter of re-checking how much you’re depositing and hitting the confirm button.
The wait time on funds varies based on the option used. An e-wallet, for example, requires a wait time ranging from zero to 24 hours.
Get an Esports Betting Bonus
If you’re going to deposit at an esports gambling site, you might as well collect a bonus in the process. The information below will help you take advantage of these deals.
What Esports Bonuses Are Available?
Most sites offer welcome bonuses to new players. A welcome bonus can include one or more of the following offers:
- Free bet – If you lose your first bet, you’ll have a chance to recoup the losses.
- No deposit bonus – You receive a bonus just for signing up for an account.
- Deposit bonus – The site matches your first deposit up to a certain amount.
Some esportsbooks offer other bonuses beyond the welcome deal. That said, you should always consider sites that keep rolling out bonuses long after your initial deposit.
Look for a Bonus Code
Many deals require that you enter a bonus code during the registration process. This code identifies which bonus you’re going for.
Assuming you want to qualify for a $25 free bet, for example, then you may need to enter the code “BET25.” The signup form will indicate if you need to input such a code.
Place Your Deposit
Outside of no deposit offers, you’ll need to fund your account before receiving a bonus. Once you place the deposit, you’ll be eligible for the desired bonus.
Do note, though, that some deposit options exclude you from deals. Most esports betting sites don’t let you qualify for offers when you deposit with Neteller or Skrill.
Meet Terms and Conditions
The final step to making money off of esports bonuses involves satisfying terms and conditions. Common terms and conditions at esports betting sites include:
- You must wager a certain multiple of the bonus (e.g. 10x) before withdrawing bonus funds.
- Betting sites only give you so long to meet the wagering requirements (e.g. 60 days).
- Esportsbooks require that you wager at or above certain odds (e.g. -160, -155, -150, and higher).
- You may be restricted to certain markets (e.g. only Counter-Strike: Global Offensive bets count).
- Maximum bets are often limited (e.g. $100 or lower) with active bonuses.
The last thing that an esports gambling site wants to do is turn bettors away by not offering enough banking methods. That said, the average betting site features several options.
Assuming you’re an experienced esports gambler, then you may already have a favorite method. If not, then you can consult this guide for advice on depositing.
Your preferred banking option will vary based on what exactly you value most. Provided an esportsbook has enough methods, then you should find whatever deposit method you’re looking for.