Reviewing the Payment Options at BetOnline.ag

By Daisy Williams in Rankings and Reviews
| April 20, 2020 8:42 am PDT
Payment Options BetOnline

BetOnline is a brand that’s well-known amongst online punters, specifically for its sportsbook. But the service goes well beyond teasers and parlays with something for everyone. Poker, live casino action, and esports are also on the main menu, along with a full casino.

The casino features about 150 slots, primarily from the Betsoft brand. Players will also find a few dozen video poker options, as well as keno and bingo.

When it comes to table gaming, particularly for Americans, the site is tough to beat with 23 blackjack variations alone, plus another few dozen tables covering craps, roulette, baccarat, and more.

While the variety of options in the BetOnline Casino is one of the primary reasons why this particular site consistently makes our list of recommended US online casinos, there are other factors that we consider.

If you’re curious about its operation as a whole, be sure to check out our full review of BetOnline.ag. We revisit it often to make sure that we’re passing along the most current information.

In this post, though, I’m going to focus solely on the payment options accepted by BetOnline.ag. As it’s one of the top real money gambling sites for US players, it’s essential that the menu goes beyond e-wallets, and you’ll soon see if that’s the case.

Low Minimums and High Maximums

Compared to many other US-facing gambling sites, BetOnline.ag allows for bigger bets by accepting higher deposit amounts. Whereas some sites impose transfer limits of $5,000 or less, high rollers can transfer in as much as $100,000 in a single transaction.

On the flip side, if you’re looking to do some recreational betting or play low-limit slots, then $20 is all you need to get things rolling. To take advantage of the low minimum, though, you’d need to pick one of the cryptocurrency options.

Methods Determine Minimums

For standard debit and credit funding, you’re looking at a $50 starting point.

BetOnline’s financial menu will vary slightly depending on where you live. For example, Neteller and Skrill are both listed as possibilities, but they won’t appear in the deposit and payout menus for Americans.

Cryptocurrency Advantage

I immediately noticed that cryptocurrency is the preferred method. It’s certainly not unusual for an online gambling site to include a Bitcoin option, but this particular one lists five crypto alternatives.

As you’ll see when you review the individual requirements that I’ve listed below, opting for Bitcoin, Ethereum, or any of the other three possibilities is the best strategy. It’s going to keep more money in your pocket and allow you to move money in and out of your betting account quickly and effortlessly.

Using Cryptocurrency at BetOnline

  • Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple
  • Minimum Deposit: $20
  • Maximum Deposit: $100,000
  • Deposit Turnaround: 15 minutes (average)
  • Minimum Withdrawal: $20
  • Maximum Withdrawal: $3,000
  • Payout Turnaround: Typically less than a day
  • Fees: $0
  • Currency: USD

Instead of building up to the all-around best when it comes to deposits and payouts on BetOnline.ag, I’m going to leave the starting gate with the winner.

You can’t do any better than selecting one of the five cryptocurrencies to fund your betting account on the BetOnline site, as any of them will tick off all of the preferred boxes. You’ve got the lowest minimums and highest maximum deposit allowances, as well as no-fee withdrawals.

While you may have to wait 15 or 20 minutes for your wallet transfer so that you can start playing, instead of an instant credit with traditional cards, you’ll be much better off at payout time. Using something like Bitcoin takes away the payout turnaround time, which can be as long as 15 days with some of the other payment methods.

Additionally, cryptocurrency is a near slam dunk for US players. I’ve read reviews about a high debit and credit card acceptance rate with BetOnline, which is a plus for anyone from the United States. However, money doesn’t flow in both directions with card use.

Using Credit Cards at BetOnline

  • Mastercard, Visa, American Express, Discover (including gift or prepaid programmed for international online purchases)
  • Minimum Deposit: $50
  • Maximum Deposit: $2,500
  • Deposit Turnaround: Instant
  • Minimum Withdrawal: $500 via Cashier’s Check
  • Maximum Withdrawal: $2,500 via Cashier’s Check
  • Payout Turnaround: Approximately seven business days
  • Fees: $50 fee for withdrawals under $1,500 and 3% for withdrawals over $1,500
  • Currency: USD

As I just mentioned, American players may have more success in getting debit and credit card transfers approved through BetOnline as compared to other sites. However, Mastercard, Visa, American Express, and Discover are only allowed for deposits.

When you’re anxious to request a payout and get those big winnings in hand, you’ll end up playing the waiting game. Cashier’s checks are used as the primary alternative withdrawal method, and they come with a price.

Not only will you end up paying 3% on your winnings as a fee, but it could take at least a week for you to receive your funds. If you’re like me, you’re anxious to reap the rewards of your good fortune, so it’s a bummer to have to wait that long.

Wire Transfers

  • Wire Transfers
  • Minimum Deposit: $1,000
  • Maximum Deposit: No maximum
  • Deposit Turnaround: 3-5 business days
  • Minimum Withdrawal: $500
  • Maximum Withdrawal: $3,000
  • Payout Turnaround: 5-15 business days
  • Fees: Depend on payout ($45 to 3%)
  • Currency: USD

The reason I wanted to highlight wire transfers instead of some of the other financial alternatives is that a wire (or bank) transfer is number one for high rollers. Yes, cryptocurrency allows for up to $100,000 transfers, but wires have no limit.

There is a downside, though, as you can’t initiate a deposit and then turn right around and start playing. There’s a delay of three to five days with this method. It takes even longer for the reverse process, as you could be waiting two weeks or so to have a payout back to your bank.

Alternatives Banking Options at BetOnline

I wanted to hit the highlights of BetOnline’s payment system primarily for US players who have a more significant challenge when it comes to banking with online casinos. The five cryptocurrency options should suffice. But for players who don’t want to go that route, there are a few other alternatives.

Aside from the wire transfers, BetOnline also accepts Person to Person and Money Order payments. Cashier’s checks are issued to card users for their payouts, but they can also be used for deposits. Using the cashier’s check method, you can replenish your betting account with anywhere from $1,500 to $15,000 at a time.

If you’re interested in opening an account with BetOnline and you don’t live in the United States, you have even more alternatives. You can turn to e-wallets, like Skrill and Neteller, and benefit from quick turnarounds.

Summary

Compared to some other websites that are on the shortlist for USA players, you get a slight edge by using BetOnline, as it doesn’t impose deposit fees. However, if you want to avoid those extra charges altogether, you’ll need to turn to Bitcoin or another crypto alternative. Otherwise, you lose some of your winnings without a bet with the 3% withdrawal deduction.

Another thing to consider is that you can transfer in as little as $50, but when it comes time to cash out, you need at least $500 accumulated to receive a cashier’s check. The bottom line is that it’s best to review all of your options before you jump in and make a transfer so that you pick the all-around best method for you and your betting budget.

I’ve only focused on the money end of things at BetOnline.ag, but we’ve got you covered in all areas when it comes to this betting site. Our comprehensive review goes well beyond what I’ve listed above and will clue you in on the complete service, including the games, promotions, customer service, and our overall impressions.

Or you could just try the site for yourself and see what you think.

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