Ohio residents – great news! Sports wagering is on its way this year and will soon be available! Wagering on your favorite teams will be as easy as a few clicks.
So, how do you get started? By signing up for accounts at some of Ohio’s best-known sportsbooks of course.
In this article, we’ll discuss some of the most likely sportsbooks to do business with in Ohio. We will also explain:
- Methods for depositing money in your accounts
- Processes for withdrawing money
- Which approaches are best for different sports bettors
The best news is that Ohio sportsbook cater to sports bettors of all types. Minimum deposits can be as low as $5, or as high as tens of thousands of dollars.
Ohio Sportsbook Deposits: Your Options
This option is listed as the ‘recommended’ option at many sportsbooks. The online banking option allows Ohio sports bettors to access accounts at over 1,000 U.S. banks to authorize a payment to their wagering account.
Just about every sportsbook operating in the United States offers online banking as a deposit option. Ohio sportsbook deposits and withdrawals will be no different.
This is accomplished via a secure connection, and the sportsbook cannot see your bank login information. Money is available almost immediately.
Another way to fund your account instantly is by using credit or debit card. Major U.S. brands (Visa, Mastercard, American Express, and Discover) are accepted by most major books, but may be subject to additional fees depending upon your specific cardholder agreement.
Some states do not allow debit card payments to fund sports wagering accounts – Iowa is one example. Fortunately, Ohio has not announced plans to set any such restrictions.
The growing popularity of mobile payment services to transfer money between friends and family has reached the sports wagering business. Most major sportsbooks now accept PayPal as a means of funding.
You can link a PayPal account to your sportsbook account, allowing for instant funding and deposits at numerous well-known sportsbooks.
Note: Venmo, an equally popular mobile payment service, is not accepted by any known U.S. sportsbook.
This was a favored method of funding during the offshore sportsbook era. Ohio sports bettors will continue to enjoy wire transfers as an option. However, the downfall of wire transfer is that your money will not be available right away.
The other deposit methods described above will allow you to wager right away. But a wire transfer typically takes 1-2 business days for processing.
In fact, sportsbooks often advise customers to make wire transfers by noon on Fridays if they want funds available for the weekend.
Another note if you use wire transfers – your minimum required deposit will increase. DraftKings, for example, requires a wire transfer deposit minimum of at least $100, but will accept a debit card or online banking deposit of $5.
Some larger books offer gift cards, which act as debit or credit cards that can be used specifically on their mobile sites.
Depositing via these cards resembles using a debit or credit card, with funds immediately available.
This is probably the most complicated method, ironically, in the electronic age. But Ohio bettors can still take good, old-fashioned cash to participating stores such as Family Dollar, 7-Eleven, and CVS Pharmacy.
Using the mobile app, users click on “deposit cash” to generate a one-time barcode that can be scanned at participating stores. Users are limited to $500 in cash deposits per day.
Ohio Sportsbook Withdrawals: Your Options
Ohio sportsbook withdrawals are easy enough. However, they generally takes longer and are available in fewer forms compared to depositing.
This is the fastest method. Receiving a prepaid debit card from the sportsbook of your choice requires no specific minimum withdraw amount. Bettors can expect to have the card in hand 2-4 days later.
They say to allow 3-5 days to receive your funds. Another advantage is that the minimum value of Ohio sportsbook withdrawals via PayPal tends to be as low as $1.
You have the good, old-fashioned option of a check in your hands, but it will take a while. It can be 1-2 weeks, to be specific, in order to receive your funds. Checks also typically require higher withdraw amounts.
Deposit Methods Accepted by Sportsbook
Once Ohio sports betting does go live online, we will know which sportsbooks have landed in the Buckeye State. Until then, the best we can do is take a look at the big U.S. sportsbooks and the available deposit methods at each.
|Sportsbook||Online Banking||Credit/Debit Card||PayPal||Wire Transfer||Gift Card||Cash|
(“x” indicates an accepted method)
How To Deposit Money into an Ohio Online Sportsbook
- Sign up for an account at the sportsbook of your choice. You will be asked for your name, email, and a password to access your account. Some sportsbooks may ask for other information such as address and phone number.
- Find the “Deposit” option. Most sportsbooks make this option very easy to find, as it is typically found at the top of the interface or within the front page of your online account. Some platforms use phrases like “Add Funds” in place of deposit.
- Choose your preferred method of deposit. These options are typically displayed via a dropdown menu in rough order of popularity and ease of method.
- Choose the amount you’d like to deposit. Minimums and maximum are usually prominently displayed. But the interface will often prompt you with a common or recommended amount ($100 is a common example.)
- Fill in your account information – whether bank account, card number, PayPal account, etc.
- Await confirmation that your funds have been deposited.
- Then, happy wagering!
Very soon, online wagering will be available in Ohio. Use this article as your guide to get your account up and running. Jump into the action as soon as possible!