Maryland online sports betting > Banking options Maryland

Banking options Maryland

If you’re looking for info on the deposit and withdrawal options at MD betting sites, you’ve come to the right place. In this guide to banking options at Maryland betting sites, we’re here to help.

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Maryland betting banking options

Once you are officially an MD online bettor—or you’ve at least registered with a sportsbook—you’re going to be inundated with choices. One of those choices is how you want to fund your betting adventure:

  • All major credit/debit cards (Visa, MasterCard, AMEX, Discover)
  • ACH (VIP Preferred)
  • PayWithMyBank / Online Bill Pay
  • PayPal
  • Skrill
  • Neteller
  • PayNearMe
  • PaySafeCard
  • Play+ card

Keep reading, and we’ll show you how to choose the safest, fastest, most convenient banking options at Maryland betting sites for you.

Best Banking options Maryland sites 2022

CompanyBonusConsVisit
DraftKings Sportsbook Bet $5, get $200 in free bets
  • JOKERZINO
  • Multiple in-game bonuses
  • Great VIP program
Bet now DraftKings MD promo code
Fanduel Sportsbook Bet $5, get $200 in free bets Bet now FanDuel MD promo code
BetRivers Sportsbook Get up to $500 in free bets
  • JOKERZINO
  • Great bonus terms
  • Excellent loyalty program
Bet now BetRivers MD promo code
BetMGM Sportsbook Up to $1,000 First Bet Insurance
  • JOKERZINO
  • Free live streams
  • Multiple in-game promos
Bet now BetMGM MD bonus code
Pointsbet Sportsbook 2 Free Bets Up to $2,000
  • JOKERZINO
  • New special offer each day
  • Live same game parlays
Bet now Pointsbet MD promo
Caesars Sportsbook Up to $1,500 Free Bet bonus
  • JOKERZBETPICS
  • Get a $100 Free Bet win or lose
  • Or, get up to $1,500 in Free Bets
Bet now Caesars MD promo code

How does the banking work in MD?

online-bank

Pretty easily. You’ve got two options for topping up your betting account in Maryland if you haven’t got a bank account. Even if you do have an account, maybe you’re just not totally comfortable handing out your financial info online. Whatever your reason, here are two to try…

PaySafeCard for deposits and withdrawals in MD

The PaySafeCard is a prepaid card that you can buy at retail stores. It comes pre-loaded with money that you can use at any participating online sportsbook. PaySafeCard is accepted by:

  • PointsBet

Why use PaySafeCard

It’s fast, non-digital, and Maryland betting sites don’t charge any fees for using it.

PaySafeCard in action…

You head down to your local participating retailer with your cold hard cash. Buy a pre-loaded $50 PaySafeCard. Then, hit the park, and top up your online sports betting account with $30 from your phone using a 16-digit PIN code. You save the other $20 (less card fee) for later in the week.

Reload fees can be steep if you make small top-ups at retailers—up to 10% on a $10.00 recharge. You can’t withdraw your winnings with PaySafeCard, either.

PayNearMe withdrawals and deposits

PayNearMe is another cash-only banking option for those wanting to stay off the radar. It involves an app, a barcode, some cash, and your local 7-Eleven (or similar).

Why use PaySafeCard for Maryland

PaySafeCard in MD keeps your banking information private, and—although it’s not mainstream yet—many sites in MD are picking it up. You’ll find it at:

  • Caesar’s / William Hill
  • BetMGM
  • DraftKings
  • FanDuel

PaySafeCard in action…

You download the PayNearMe app, set up an account, and generate a barcode via your participating online site. Then, you take that barcode and a handful of cash to any participating retailer, like 7-Eleven, Casey’s, CVS, Walmart, and Family Dollar.

Once your barcode has been scanned and your cash received, the store will give you a code to input into your online account. Then, you order a hot dog and a large Slushee and head out for some serious sports betting shenanigans.

There’s a $500 deposit limit per day with PayNearMe transactions and no option to withdraw your winnings. It’s also slower than online methods and requires a mobile app to function. You also have to hope there’s a participating retailer in your general vicinity.

Fastest banking option

money-transfers

The fastest banking option in Maryland for sports betting is, conveniently, also the option that offers withdrawals.

ACH (Instant eCheck) for withdrawals and deposits

ACH banking in MD is probably one you’re familiar with—it can be used to make repayments on your mortgage or car and is accepted by most US and international businesses. It’s easy to use, convenient, incredibly secure, and the VIP Preferred choice for MD sites. We’ve got a core group of preferred Maryland sites:

They all accept Instant eCheck deposits and withdrawals.

Why use ACH for Maryland

Instant eCheck, as it’s otherwise known, has zero transaction fees for either deposits or withdrawals. It also offers the most lenient limits—since it’s often used to pay mortgages—and the fastest turnaround times for cashing out.

ACH in action…

Once you’ve set up your ACH—typically through the VIP Preferred portal—your MD sports gambling site will establish a connection. From there, you can log in to your account and make a deposit or withdrawal with a few clicks of a mouse.

If you don’t have an online bank account in the US, you won’t have access to ACH as a banking option.

E-wallets

wallet-sports

PayPal isn’t your only option, although we’ll start there. Then we’ll cover other e-wallets and give you an example of e-wallet sports betting in action.

PayPal for withdrawals and deposits

PayPal sports betting in MD is safe, secure, familiar digital payment platform that lets you enjoy the convenience of banking from home, the speed of online payments, and the security of knowing the platform is trusted by millions of major enterprises.

Every one of our favorite MD sports betting sites accepts PayPal deposits for betting:

  • DraftKings—PayPal only
  • FanDuel—PayPal only
  • BetMGM—PayPal and Skrill
  • PointsBet—PayPal only
  • FoxBet—PayPal and Skrill
  • Caesar’s

If you want to take advantage of their withdrawal option, you’ll need to make at least one deposit using the PayPal method.

Using Neteller, Skrill, and other e-wallets

Neteller and Skrill might be less well-known, but they’ve got a few perks up their sleeve. Skrill, for example, lets you purchase MasterCard prepaid cards and withdraw your funds at an ATM.

Why use e-wallets for Maryland

Its fast, convenient, and e-wallet platforms have some of the highest level security protocols in the world. E-wallets are also a great way to pay when you’re already used to navigating them for online shopping. In addition, most of them have no transaction fees.

E-wallets in action…

First, you make sure you’ve got funds in your e-wallet—you can top up your wallet by bank transfer, card, or person-to-person transfer. Then you hit the PayPal icon from inside your MD sportsbook account and follow the prompts.

You’ll be magically transported to your PayPal portal to finalize the deposit.

  • Not all e-wallets are zero-fee. Check yours before you start pouring your hard-earned cash into them.
  • With PayPal, you’ll need to use a personal account—not a business or premier account. Your login email address at PayPal will also need to match your login email address at your sportsbook.
  • Neteller has strict transaction limits and the highest fees. Some online sports betting sites won’t offer deposit bonuses if you use Neteller, either.

Banking with credit cards

debit-cards-betting-online

All reputable Maryland sportsbooks accepts credit and debit cards for deposits, Amex and Discover card is less common than MasterCard and VISA. In addition many operators won’t allow you to cash out to a credit card. So if the plastic fantastic is your banking method of choice, you’ll probably need a plan B for withdrawing your winnings.

Using credit and debit cards

There are a lot of benefits to using your bank card for online sports betting—one of which is the familiar payment gateway. But keep in mind that there are some downsides, too.

Why use credit and debit cards

Fast card processing through secure payment portals means you get instant funds into your wager account. You’ve also got the added bonuses of sharp online protection, zero transaction fees, and the fact all major credit cards are accepted at licensed Maryland sites.

Credit cards in action…

You know this one, right? It’s just like buying anything else online.

It might pay to check how your card provider handles deposits to online betting sites. In some instances, they are classed as cash advances. You might be painfully aware of the interest charged on a cash advance. It’s also highly unlikely you can withdraw your winnings to a credit card.

Play+ banking option

banking-mobile

We’ll get onto what it is in a minute. And yes—it is a banking option for Maryland sportsbooks.

Play+ Card for deposits and withdrawals

New to the game, Play+ is backed by Discover. It’s also accepted anywhere Discover card is used for added convenience. Unfortunately, many licensed sportsbooks don’t allow withdrawals via Play+.

  • BetMGM
  • Caesar’s / William Hill
  • FanDuel
  • DraftKings
  • PointsBet
  • FoxBet
  • Barstool Sportsbook

Why use Play+ for Maryland

It offers the same kind of protection as a credit card but without the risk of exposing your credit card details or going over your limit. But, of course, it can catch your payout, too.

Play+ in action…

It’s like a hybrid debit card/e-wallet. You fund it with money from your PayPal, ACH, or card and use it like an e-wallet—but you’ll also receive a physical card in the mail that works at your local ATM.

While it’s not an issue at most sportsbooks, be sure you understand the fee structure before use.

Other banking options for MD

payments

There are actually a couple more to consider—although they’re not our top choices. You’ve got:

  • Online banking transfers—also known as PayWithMyBank and online bill pay services
  • Paper checks
  • Cash collection at a retail point

Online Banking Transfer for banking

First, you’ll need to find a site that accepts online bank transfers. Secondly, you’ll need to confirm if they accept transfers for both deposits and withdrawals.

Then, you’ll need to check that your bank participates in the same scheme—like Online Bill Pay or Trustly. If so—great! Online bank transfers are secure and reliable. But, unfortunately, they are also slow and can involve high transaction fees.

Paper checks for banking

Some people just prefer a paper check. If your sportsbook of choice accepts it, and you’re prepared for long wait times, even longer clearance times, and paying postage, paper checks might be an option to consider.

If you don’t even own a checkbook, consider one of our other options like most of us.

Cash collection at an MD gambling site retail point

Every betting site in Maryland has a retail point. So if there’s one near you, and you happen to do your betting with that online sportsbook, you can head down and pick up your winnings in person.

Summary

Which banking method will you be using as you dip your toe into the betting pool? Plenty of veteran  betting fans choose a couple since it pays to have a plan B in place.

Whatever your choice, the goal should be to minimize fees, maximize safety, and quickly get your cash in hand. Need to know more? Check out our FAQ section below.

FAQ’s About Banking options

questions
Which banking options on Maryland allow deposits and withdrawals?

ACH (Instant eCheck) is your best bet, followed closely by PayPal.

Are there any sportsbooks that don’t charge fees for deposits and withdrawals?

Most Maryland sites won’t charge you for making a deposit or withdrawal, but you should check with your bank or alternative platform—they may charge their own fees.

Are there limits to how much I can withdraw or deposit at a Maryland betting site?

Yes, and every site is different. DraftKings, for example, have a minimum deposit of $5, and a maximum daily deposit of $2,000. The minimum withdrawal limit is $20. BetMGM has a minimum deposit of $10, and a minimum withdrawal of $20.

Who should I contact if I have a problem with my chosen payment method?

In the first instance, refer to your Maryland betting site’s FAQs section—they have likely dealt with your situation before. If you confirm the issue isn’t with the sportsbook, follow up with your payment provider.

Can I make a withdrawal from my online sportsbook in person?

Yes. A retail sportsbook is a bricks-and-mortar location. Every licensed one in Maryland has one. Caesar’s, for example, has a retail location at Horseshoe Casino in Baltimore. Withdrawals can be made in person at your chosen MD retail location.