Online horse racing sites deal with real money, so one of the first things you will need to do after opening an account at a betting site is make a deposit. At most betting sites, you can either purchase funds electronically or visit a local betting shop to deposit cash.
Getting started is easy because horse betting sites are licensed and regulated around the world. They comply with all applicable laws and therefore can accept mainstream deposit methods such as Visa, MasterCard and so on.
The following deposit methods are just a few of the most popular ways people fund their horse betting accounts. Depending on where you live and which site you use, you may see even more deposit methods than these. As long as you play at reputable horse betting sites, any deposit method that they make available to you is a safe way to fund your account.
USA Deposit Methods
Depositing at horse betting sites in the United States is much easier than depositing at casino or poker sites. Because online horse racing is fully licensed by the US government, you can use simple deposit methods to fund your account instantly.
Visa and MasterCard
The easiest way to deposit is to deposit with a Visa or MasterCard (debit or credit) online. All you have to do is type in your credit card information, confirm the deposit amount and your betting account will be funded instantly.
You can deposit with any credit or debit card by logging into your betting site and visiting the “cashier” area. In that area, you will fill out your card information and confirm the deposit. Alternatively, most horse racing sites will also let you make credit card deposits over the phone. Just give them a call and they’ll walk you through the process.
Green Dot MoneyPak
Another deposit option for US racing fans is the Green Dot MoneyPak. You can visit thousands of retailers (Wal Mart and Rite Aid for example) to purchase Green Dot vouchers. After you purchase the voucher, you can log in to your betting account and redeem it. This option works for deposits between $1 and $1500.
The advantage of the Green Dot MoneyPak is that you can use cash to deposit instead of sending your credit card information over the internet. If you have some extra cash laying around the house, just head up to Wal Mart or Walgreens and buy a MoneyPak.
You can read more about this deposit method by visiting the cashier’s area of your betting site and choosing the Green Dot deposit option. Your betting site will tell you where to go to get a Green Dot MoneyPak and how to redeem it after you have it.
You can also send money orders, cashier’s checks and personal checks in the mail to fund your account. This deposit option takes a little longer to complete because you actually send your check in the mail, but it works well.
Wire transfer deposits can also be made. This deposit method requires a little more work on your part because you need to visit your bank and initiate the wire transfer in person. Wire transfers are best for large deposits because wire transfer fees come with flat fees instead of percentage-based fees.
If you have any problems depositing to your betting account, don’t be afraid to call your betting site’s customer support number. Online horse betting sites base their entire business around real money betting, so they’ll find a way to get you started.
eChecks are similar to wire transfers because they allow you to send money straight from your bank account to your betting account. The biggest difference is that eChecks don’t require you to visit your bank and fill out a wire transfer form; everything can be done online.
Depositing at non-US Horse Racing Sites
Non-US horse betting sites such as Bet365 and William Hill are typically licensed by their respective governments. As a result, these sites also have a long list of easy-to-use deposit methods. Most international horse racing sites offer all of the above deposit methods plus a few others:
PayPal is a massive money transfer service that is used around the world. It’s an American company, but it does not do business with gambling sites that serve US customers. However, PayPal does do a lot of business with international betting sites such as Bet365 and William Hill.
PayPal is considered an e-wallet or “online wallet” because it acts as a temporary holding place for your money. You can send money from your bank account to PayPal, and then from PayPal to your betting site. PayPal is very fast, very trusted and easy to use. I strongly recommended PayPal if it is an option.
Skrill (formerly known as Moneybookers)
Skrill is basically the same thing as PayPal, except run by a different company. Skrill also has a long history in the money transfer business and is known for being a safe e-wallet. If you don’t have PayPal as an option, Skrill will work just as well.
More Deposit Methods
All of the deposit methods mentioned on this page (including USA deposit methods) are available at most international betting sites. In addition to those mentioned so far, you will find dozens of local deposit methods catered to your own location.
The best thing to do is visit your betting site, log in and then visit the cashier. That will bring up a page that shows you the full list of deposit methods that are available in your area.