Now that you can bet on your favorite sports in Ohio, you have to know about the available banking methods. In this guide, we walk you through the Ohio sportsbook banking methods, including the best sports betting deposits, withdrawals, and top sportsbooks. To wrap things up, we’ll answer FAQs about banking options for Ohio sports betting.
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Guide to Ohio sportsbook banking methods
In order for you to bet online, you must first deposit money. Then, likewise, you have to withdraw your money in order to take it from your account. In other words, you have to have a keen understanding of the available banking methods at the Ohio sportsbook you choose.
The best Ohio sports betting banking methods include a debit card and credit cards, prepaid cards, e-wallets, and ACH. In addition, Visa, MasterCard, PayPal, Skrill, Neteller, Play+, PaySafeCard, and VIP Preferred are all fantastic banking methods available at most sportsbooks for both deposit and withdrawal.
Safe online banking sports betting Ohio
Nearly all Ohio sports betting banking methods fall into four categories:
- Debit/credit cards
- Prepaid cards
- Automated clearing house (ACH)
These banking methods are reliably accepted at most Ohio sports betting sites because of their safety, convenience, and expediency. Although depositing money is a bit easier than withdrawing money, deposits and withdrawals are relatively easy on Ohio sportsbooks because of these banking methods.
Best deposit options
On most Ohio sites, you can deposit money into your account with debit or credit cards, e-wallets, prepaid cards, and ACH. Here are the most popular depositing options for betting in Ohio:
- Credit/debit cards
If you want to use a debit card or credit card to fund your wagers, you should have a Visa or MasterCard. These are the two cards that are universally accepted at all sites. Some sites also accept Discover and American Express. Funding wagers with your credit card will cause the sportsbook to show up on your bank statements.
If you don’t care if your sportsbook shows up on your bank statements but don’t want to use your credit card or debit card, you can use Trustly, which allows you to make electronic bank transfers. Likewise, you might want to try ACH or VIP preferred.
For those who want to avoid the sportsbook mixing with their bank statements, an e-wallet may be a better option. An e-wallet acts like a third party that electronically holds your money. The most popular e-wallet is PayPal because it is safe and accepted at many online locations. Neteller and Skrill are other e-wallets to consider, though they are less popular.
Another way to fund your wagers without the sportsbook appearing on your bank statement is through prepaid cards. Play+ and the PaySafeCard are the most popular options. These cards can primarily only be used on online sports betting sites, but some stores accept them as well.
For maximum security, try out PayNearMe. PayNearMe does not require you to share your banking method with anyone. PayNearMe has a longer processing time than the other deposit methods, but it is ideal because of its maximum security.
Before you deposit money into your betting account, you should take a look at the sports betting bonuses in Ohio to see if you can get more bang for the buck from your Ohio mobile sports betting apps.
Ohio betting odds have a great system!
Withdrawals for Ohio sportsbook banking
Withdrawing money is a bit more difficult because the sportsbook must review your withdrawal request first. This makes the processing time longer. Also, it can sometimes be difficult to transfer your earnings to the same banking methods used to find your wagers.
Here are the best banking methods for fast withdrawals:
- Automated Clearing House (ACH)
The fastest withdrawal method for online sports betting is using prepaid cards, such as Play+ or the PaySafeCard. Even though you will receive a physical card, much like a traditional credit card, the processing times are much faster, and practically instantaneous in most cases.
The downside is you have very limited options about where you can spend your earnings or withdraw cash. E-wallets are also pretty fast, such as PayPal, Neteller, and Skrill. Although not instantaneous like prepaid cards, e-wallets normally only take a day to transfer funds, which is comparatively fast.
Just remember that you’ll either have to transfer the money from your e-wallet into your bank account or shop using it to spend the money it holds.
What about ACH?
ACH (Automated Clearing House) is slower than prepaid cards and e-wallets, but it may be the most convenient. Since the money is sent directly to your bank account, you can spend your earnings however you like without having to make any additional transfers.
Some sportsbooks offer bank transfers, wire transfers, and physical checks for payment too. However, these withdrawal forms will be the slowest, which is why most people do not choose them. We recommend avoiding these withdrawal methods simply because of how long they can take.
FAQ about Ohio sportsbook banking options
Nearly all deposit methods are instantaneous and reliable. Select your deposit method based on whether you want the sports betting site to show up on your bank statement.
PayPal is the best withdrawal method in terms of convenience and expediency, although Play+ and PayNearMe are the fastest withdrawal options.
Your sportsbook must review your withdrawal request before sending over your money. This can delay the payment buy a few hours or even days.
If your bank has an anti-gambling policy in place, use a banking method that does not show up on your banking statements. E-wallets and prepaid cards are best for this purpose.
Aside from insufficient funds, the bank may have an anti-gambling policy blocking the payment. Try an alternative payment method, such as an e-wallet.
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Started my interest in sports at a young age by attending the Cincinnati Bengal’s home games. Now an accomplished writer for OH Gamblers