You won’t get far in the online betting world without a viable banking option to deposit and withdraw your money. So today we’re listing all of the banking options available for betting in Florida. You’ll learn about their pros and cons, processing times, fees, and availability. We’ll even break down the top ones and which banking options they include.
Florida banking options
There are plenty of banking options in Florida, but each has its perks and downfalls. One man’s preferred FL banking option may be another’s worst nightmare; it’s important to choose depending on your particular situation and not solely because of the opinions of others.
You may be interested in the fastest withdrawal method for online or no verification withdrawal. Other deposits can be made off of your mobile phone, while brick-and-mortar options abound for those who prefer the personal touch.
No matter what suits you, you’ll be able to compare all of the options below to find the best banking option for your FL online betting.
Fast banking options at Florida sites
Sports betting online is a fast-paced world, so you may be looking for a banking option that matches its velocity.
When signing up for a Florida sports betting site, a lucrative beginner’s promo or bonus may only become available once you make your first deposit. Or, perhaps you’ve already surpassed your first bet and are itching to bet on a game tonight that has just changed its starting lineup in your favor.
No matter the case, you’re going to want a deposit and withdrawal option that is cleared in minutes, not days or weeks. So when it comes to speed, we’ve highlighted the fastest FL sportsbook banking options below.
ACH transfers stand for Automatic Clearing House, which is an electronic network across the U.S. This network processes tons of bank transactions, including transfers in and out of your checking account.
You can connect your checking account to your account, enabling ACH transfers. These are also referred to as bank transfers or eChecks. They are not the same as wire transfers, which have separate fees and processing times.
ACH transfers are one of – if not the –fastest banking options when it comes to depositing and withdrawing money from your FL account. These transfers often happen automatically within seconds and include no fees.
This option is so efficient that some of them list ACH transfers as their VIP preferred method of deposit or withdrawal.
Debit cards are another speedy way to get your money in or out of your account when needed. Instead of connecting your bank account to your provider, you can simply enter your debit card details as if you’re making a purchase online.
As long as you have sufficient funds in your correlated account, the money for a deposit should be transferred immediately. Reflected deposit or withdrawal amounts in your debit account may take a couple of hours to appear, but more often than not, you’ll see them within a few minutes.
Credit cards are another way to deposit and withdraw from your account. We separated them from debit cards because credit cards sometimes have limits, fees, or a small processing period depending on the amount being transferred.
Even so, they are still one of the fastest banking options, especially if you’re using them for a deposit.
Secure banking options at Florida betting sites
So long as you are betting on a licensed and regulated Florida operators, safety and security around your financial information should be a given. Some bettors may want to take this a step further by separating their personal banking information from the provider. This ensures your banking history is not shared with other third parties who may use it for personal gain or insight into your activities.
To place an extra step between your bank account and your operator, you can use an eWallet, also called an electronic wallet. eWallets are online accounts that are used for transactions through computers and smartphones. eWallets typically have a high-security framework that ensures your information is not shared or stored.
As one of the most well-known eWallets in the world, PayPal can be legally used to transfer funds in and out of your online account in Florida.
After connecting your PayPal account to your fund source, you may transfer funds into your PayPal account, which can then be used to fund your account. Funding for your PayPal account may come from your bank, another user in a user-to-user transfer on PayPal, or credit/debit cards.
Keep in mind that you’ll need to connect your PayPal account to the same email address you use for your account. All funding accounts must also be personal, as PayPal’s conditions change if funds come from a business or premier account.
To withdraw your sportsbook winnings into your PayPal account, you’ll need to have first deposited into your betting operator through PayPal.
Skrill was created with bettors and gamers in mind, which is one reason it is now geared towards the online betting industry. With similar funding options to PayPal, Skrill is accepted across many, both online and in-person.
Skrill is not as popular as other eWallets, perhaps due to its processing fees. While you’ll still move your money in minutes, you’ll have to shell out a 1%-6% fee if depositing. The withdrawal fee, on the other hand, is set at $5.50 per withdrawal, regardless of the amount.
Neteller is not the typical eWallet, but it does include payments and withdrawals through bank transfers, wires, and money transfers. It even includes transfers from overseas accounts.
Neteller has an optional card option that can be used at physical locations such as stores or restaurants or even for cash withdrawals at certain ATMs.
Neteller has not been the most used eWallet in the U.S. simply because it removed itself from the U.S. market in the past. This was due to the changing regulations around online betting. Now legal in certain states, we expect that Neteller’s use will continuously grow as online betting becomes more regulated and accepted nationwide.
PayWithMyBank is an American-born option for safe and secure withdrawal and deposits into your account. Although not accepted by all online betting platforms, PayWithMyBank is slowly growing in popularity as its user base grows.
Recently combining with the start-up Trustly, PayWithMyBank offers instant transfers while protecting your fund source information.
In-person banking options Florida
If you’re an old-school bettor who prefers in-person transactions over online ones, we have a group of banking methods for you. Some people don’t mind going into brick-and-mortar establishments to make payments. Many see this as an even more secure option for paying in cash and making sure their transfers can’t be traced back to their source.
Even with them focused on the online world, the in-person banking options below are viable methods for your withdrawals and deposits in Florida too.
PaySafeCard in Florida
PaySafeCard is a merchant services provider that allows bettors to pay in cash when it comes to their bets. You don’t need to share your bank details, credit or debit cards, or account information.
You can purchase a PaySafeCard in-person, although an online option is also offered. Simply purchase a PaySafeCard voucher at a local outlet. This voucher could be anywhere between $10-$100.
The voucher comes with a unique 16-digit PIN which can then be used for online purchases, such as deposits into your account.
Play+ in Florida
If you prefer a physical card instead of a series of PINs, the Play+ option may be for you. If offered on its site, you can sign up for the Play+ card option directly through your account. In addition, this Play+ account can be connected to other banking methods if you so choose.
The physical card will then be delivered to your home, after which you can use it just as you would a debit card.
You can use this card not only for deposits and withdrawals on your account but also at any location where Discover cards are accepted or at local ATMs for cash withdrawal.
PayNearMe in Florida
Another great in-personal banking option for transactions is PayNearMe. The bettor determines how much they want to pay via PayNearMe online, printing out a payslip they can then take to a nearby PayNearMe location.
These locations include 7-11s, pharmacies, convenience stores, and gas stations across the U.S. With over 30,000 locations nationwide, and you’re sure to have a PayNearMe location nearby without even realizing it.
Once at the location, simply pay the amount on the payslip and receive a code. Once back on your page, use this code to initiate fund transfers without ever sharing your personal financial information.
best banking options in Florida
Deposit and withdrawal methods should be two big factors in choosing your provider. If you’re still deciding which is right for you or if you want to add another one to your betting portfolio, check out our top Florida online sportsbooks recommendations below.
DraftKings banking options
Your deposits will be in faster than you can say “bet” on DraftKings. Their deposit options include:
- Debit cards
- Credit Cards
- ACH/eCheck/online banking
- DraftKings gift card
Their withdrawal methods list is a bit simpler, including PayPal and physical checks. Luckily, each of these can work for either the tech-bettor or real-world bettor.
PointsBet deposits and withdrawals
PointsBet includes all of DraftKings’ deposit options, plus:
- PayNearMe, cash at specific locations,
- PointsBet MasterCard instead of the DraftKings gift card
Their withdrawal methods also include an online option and a physical one: ACH transfers or cash at specific locations.
FanDuel money transfer options FL
FanDuel’s deposit and withdrawal options lists are almost identical. Both include:
- ACH transfers/online banking
- FanDuel prepaid card
Bettors can also deposit through credit/debit cards and PayNearMe and withdraw through checks or eChecks too.
BetMGM banking Florida
BetMGM has one of the largest arrays of banking options for a operator. Their accepted deposit methods include:
- ACH transfers
- Wire transfers
- Debit/credit cards
- Cash at certain locations
BetMGM’s withdrawal options are also varied, including:
- ACH transfers
- Couriered checks
- Wire transfers
- Cash at certain locations
Banking options Florida FAQ
How long do withdrawals take in Florida?
Withdrawals could take anywhere from a few minutes to a few weeks, depending on your method of withdrawal. The fastest withdrawal methods are typically ACH transfer, eCheck, debit/credit card, and eWallet options. Verify if your account has its own processing time apart from your chosen methods.
What’s the easiest banking options for betting online in Florida?
Many offer VIP preference for the ACH transfer deposit method. By directly linking your bank account with your betting provider, you can deposit your cash as soon as the same day to begin betting online.
Is depositing money safe?
Depositing money into your Florida account is safe so long as you are registered under a licensed one. Some licensed we recommend include DraftKings, PointsBet, FanDuel, and BetMGM. These have agreements with their banking options to ensure secure and efficient transfers.
Do I need a bank account to deposit/withdraw from a FL sportsbook?
No, you don’t need a bank account to deposit or withdraw funds from a FL site. Other options you may use without a bank account include PaySafeCard, PayNearMe, and credit cards. You can also connect an eWallet, such as PayPal or Skrill, to your credit card as another banking option.
What is the fee for depositing/withdrawing?
Each banking option and site produces its own fees. These fees depend on things such as the transfer amount and method. Some banking options with little to no fees include ACH transfers/eChecks and debit cards. Wire transfers, on the other hand, have some of the highest fees.