If you’re planning on using a Texas sportsbook for online sports betting, this guide is for you. Before you choose your sportsbooks, you need to be aware of the banking options available for online betting in Texas. Today you’ll learn the top banking methods to look out for, how to choose which one is best, and what sportsbooks offer the best banking options.
Available banking options at Texas sportsbooks
Online betting in Texas is growing in both options and popularity. Bettors nowadays have access to the top banking methods when depositing and withdrawing their money from their sportsbooks’ accounts.
Here we’ll discuss the details to consider when choosing the banking option that’s best for you. Then, we’ll describe what the overall best option is and why. If you’re looking for fast withdrawals to enjoy your winnings immediately, we’ve broken down PayPal and prepaid cards as your go-to methods.
Should you prefer security to speed, check out our descriptions for the PayNearMe banking option. Finally, you’ll learn about all the other banking option alternatives that may also meet your sports betting needs.
Choosing a banking option in TX
Choosing your banking option should not be done lightly when you start playing at Texas sportsbooks. This will determine how fast you can fund your account, withdraw your winnings, and place your wagers.
All sports bettors need a banking option that matches their lifestyle. Whether you prioritize privacy, speed, or convenience, there is an option out there for you.
Convenience
The first thing to consider when choosing your sportsbook banking option is the availability of the method in your daily life. Perhaps you would love to fund your account in cash, but, if the nearest place to do so is a four-hour drive away, this option may not be plausible for you.
You should factor in convenience when deciding which method you want to use. Choose a banking option that is accessible as much as it is efficient for you.
Security
Your money is your money and we want to ensure it stays that way. Before choosing your banking method, double-check that your sportsbook is both licensed and regulated in the state of Texas. If you’re unsure, try out one of our recommended sportsbooks at the end of this guide.
So long as you’re using a licensed sportsbook, your funds should be protected during the transfer.
Even so, certain banking methods are more safeguarded than the rest. We’ve included a special section on top-secured and most private banking methods further below.
Speed
Many bettors immediately prioritize speed when choosing a banking method. This gets your money in and out of the account as fast as possible to ensure easy betting and rewards.
While certain methods are faster than others, it’s important to note your sportsbook’s processing times, as these can add on additional hours or even days to the total time it takes to move your funds.
While speed is of the essence, withdrawal and deposits are rarely life-or-death circumstances; don’t ignore convenience or security to have your cash in hand a few moments earlier.
Best deposit options – sports betting in Texas
While there are many options to choose from, one banking method comes out above the rest for online sports betting in Texas; the ACH banking method has been voted the VIP banking method.
ACH
ACH stands for Automated Clearing House, the network that processes these fast, digital bank-to-bank transfers. If your bank can be accessed online, as most can, you should be able to utilize this option with your sportsbook account.
There is no middle-man for this transaction, so your money goes directly to or from your bank and sportsbook. It is an instant process, although you may not see the transaction reflected on your bank statement for a day or two.
To establish an ACH transfer in Texas, you’ll need a bank account in your name, your bank’s name, routing number, account number, and bank account city.
Fastest banking options – sports betting in Texas
If you’re in a rush to place that bet for an upcoming game or cash out your winnings, a fast-banking method is for you. As mentioned above, ACH is a quick banking method recommended by many sportsbooks, but PayPal and prepaid cards are two additional methods that particularly ensure quick withdrawals.
PayPal
PayPal is the top e-wallet worldwide. E-wallets are electronic wallets that can hold your money and be used for online payments. Sportsbook withdrawals to your PayPal account are usually transferred and displayed within minutes.
Before using PayPal with your TX sports betting sites, you’ll need to establish a PayPal account and fund it through your bank. You may also be able to fund your PayPal account through debit or credit cards or wire transfers.
While it is renowned for its ease of use, this banking method does have some cons. You can only use a personal PayPal account with your sportsbook account. You must also have had used your PayPal account to deposit into your sportsbook before being allowed to use it for withdrawal. Finally, your PayPal-associated email address must be the same one you used to sign up for your sportsbook account.
Prepaid cards
Prepaid cards are another way to quickly withdraw your money from your Texas sportsbook. These cards can be established once you create your account on your sportsbook.
Some may be physical cards that are mailed to you — similar to a debit card – that are automatically reloaded whenever you withdraw. Some sportsbook prepaid cards can even be used at specific ATMs. Others may be electronic, which you can use with a certain code online or through electronic payment methods.
These same cards can also be used to fund your account, adding another layer of privacy between your money and the sportsbook.
Safest online banking options – sports betting in Texas
With all of the hacking and fraud happening online, many bettors are prioritizing their money’s security when choosing their online banking option for sports betting. While reputable sportsbooks will do all they can to safeguard your information, certain banking methods take an extra step to ensure both your privacy and financial security.
PayNearMe
PayNearMe has been voted as our choice for the safest banking option while online betting in Texas. This is a way to eliminate your electronic paper trail, funding your sportsbook through physical cash.
To use PayNearMe, the bettor will go to one of their thousands of locations to deposit their cash. A receipt with a barcode will be given to the bettor, who will then input the barcode’s code into their gaming account.
This is a reliable and safe way of getting your money online, without ever having to connect your bank account or input your details.
Other TX banking options for sports betting
If you’re looking for alternative options that have an equilibrium of security and convenience, there are even more banking options to choose from for online Texas betting.
Skrill
Skrill is another, lesser-known e-wallet similar to PayPal. If you cannot use your PayPal account because of email discrepancies with your sportsbook account, Skrill may be a viable alternative. The downside to this banking method is its higher fees for transactions. Additionally, not all sportsbook work with Skrill.
PaySafeCard
A PaySafeCard is used for online payments without a bank account or credit card account. It’s a great, private option for those who enjoy banking options such as PayNearMe.
You can use a PaySafeCard by purchasing one at over 650,000 locations. By paying in cash, your personal information stays safe. You then receive a code you can input online to fund your sports betting and sportsbook.
Play+
Another prepaid card, Play+, is used as a prepaid debit card. Different from PayNearMe or PaySafeCard, Play+ is an actual card that you first purchase online. The card is then mailed to your home address. You can use it at ATMs and any location that accepts Discover. This card is great for quick access to your payouts.
Credit/debit cards
Most major sportsbooks accept credit and debit cards as deposit methods and, occasionally, as withdrawal methods. While debit cards can be similar to Play+ cards for deposits, be wary of your credit card use. Only utilize your credit card when you know you have the cash to back it up at the end of the month.
Neteller
As another e-wallet option, Neteller holds your payments from a bank account until you need them. Used as a middle-man to further protect your banking information, Neteller can be used for withdrawals and deposits depending on the sportsbook.
One large con to note about Neteller is that it has gone on and off the U.S. market multiple times in the past. Make sure to research their current business plan before signing up in Texas.
Trustly (paywithmybank)
Trustly – originally PayWithMyBank – has combined the forces of a Swedish startup and an American company. This bank transfer service provides an alternative to cards and bank checks.
It stores your information safely, never sharing it with third parties. They also provide real-time verification of your identity for information safeguarding.
Top TX sportsbooks for great banking options
We’ve narrowed down the top four Texas mobile betting apps for banking options below. All of these sportsbooks are regulated and licensed within Texas, taking care of both your personal and financial information. We’ve listed their available withdrawal and deposit methods below to better differentiate which may be best for you.
BetMGM
BetMGM is a straightforward sportsbook that offers eight ways to deposit money into your account. These include e-checks, credit/debit cards, ACH transfers, PayNearMe, Play+, Skrill, and paying in person at a Borgata brick-and-mortar location.
They also offer eight deposit methods, including bank transfers, wire transfers, cash at a brick-and-mortar location, PayPal, Skrill, Play+, and courier checks.
Caesars
Backed by a big name, Caesars offers a different variety of deposit methods. These include Neteller, online banking, bank checks, PayNearMe, PayPal, debit/credit cards, and ACH transfers. They also have ACH, Play+, PayPal, and in-person withdrawal options at select locations. The ACH transfer is their VIP withdrawal method.
FanDuel
FanDuel is famous for both sports betting and fantasy sports betting alike. Its deposit options include PayNearMe, MasterCard, Visa, PayPal, and Venmo. This is unique as we have not run across other sportsbooks that currently accept Venmo. Their withdrawal options include ACH, check by mail, and FanDuel prepaid cards.
DraftKings
As one of the better-known sportsbooks across the U.S., DraftKings accepts online banking, credit/debit cards, eWallets, e-check, and prepaid DraftKings Pay+ cards for deposits. To streamline the process, these same methods can be used for withdrawals.
Banking options – Texas sportsbooks FAQ
What banking options are offered at Texas sportsbooks?
Sportsbooks in Texas offer a wide array of banking options for those betting online. These include ACH transfers, eChecks, paper checks, PayPal, Skrill, PaySafeCard, Play+, credit/debit cards, PayNearMe, Neteller, Trustly, and more. Some sportsbooks also have other brick-and-mortar locations accessible for depositing and withdrawing cash.
What is the fastest sportsbook withdrawal method in Texas?
The fastest withdrawal methods are typically PayPal, ACH transfers, and prepaid cards. It’s important to note that while some methods accept withdrawals instantly, each sportsbook has its set processing times for transactions. Verify your sportsbook’s processing times before deciding on a banking method.
What is the best sportsbook banking method in Texas?
Both our guide and various Texas sportsbooks have voted ACH transfers as the VIP banking method. It directly links your online banking details with your sportsbook, allowing for instant and efficient transfers.
Which TX sportsbook banking option is the safest?
If safety and privacy is your top concern, paying in cash is sure to eliminate any electronic paper trails revealing your financial information. You can use PayNearMe to fund your sportsbook account in cash, never sharing your financial or banking details.
How do I choose my TX sportsbook banking option?
Take into account how convenient a banking option is for you. Then, determine if it meets your safety and speed requirements. Make sure you are always betting off of a regulated and licensed sportsbook to ensure security.