Online sports betting in Massachusetts is now live!
The industry launched on March 10, and sports fans in the Commonwealth can now place wagers with six online sportsbook apps.
One of the most important aspects of joining Massachusetts online sportsbooks is knowing how to deposit your money into your account.
Here’s what you need to know about your options:
Credit cards not accepted by Massachusetts sportsbooks
Before we dive into what you can use for depositing, there is one big one you should know that you can’t use.
Credit cards are not allowed for sports betting in Massachusetts.
The ideology is pretty sound, as lawmakers want to avoid their residents from racking up debt while gambling on sports.
Don’t worry, Massachusetts isn’t the only state that doesn’t accept credit cards when making a deposit. Other states like Iowa, New York, Tennessee and Connecticut are also part of the club.
Accepted methods for depositing at Massachusetts sportsbooks
There is a full laundry list of options for depositing money into your new sportsbook account. All are done in safe and secure ways to avoid fraud or identity theft.
While credit cards aren’t accepted, debit cards are.
Be advised, some banks do charge a depositing fee for putting money into a sportsbook.
With this deposit option, you enter your card information and it will be saved onto your account. It is a fast and efficient way for using the deposit and withdraw option. Visa, MasterCard and Discover cards are all widely accepted by sportsbooks.
If you want to go straight to the source, you can directly link your sportsbook account to your banking accounts.
Most sportsbooks use a program called Trustly to use its online banking option, or EFT (electronic fund transfer). Using the program, you just adds funds to your sportsbook account by having them withdrawn electronically from your bank in an instant.
The online banking option covers thousands of banks around the country, including big names like Wells Fargo, Chase, PNC and Bank of America.
Like debit cards, some banks will charge a fee for each deposit you make into a sportsbook.
If going directly through your bank is not to your liking, some sportsbooks offer e-wallet options. That includes PayPal, Venmo and Skrill.
E-wallet payments will still require that you have a debit card attached to your account, as attempts to use a credit card will be denied. This payment form won’t require a fee from the bank to deposit.
Similar to writing a check at a retail sportsbook, you can use VIP Preferred for electronic check writing.
You need to add your routing number and account number in order to use this option, similar to online banking.
Also similar to online banking, funds are taken out directly from your bank account and put into your sportsbook account. This can be an ideal way to transfer larger sums of money.
If using online banking is not an option, or one you aren’t comfortable with, PayNearMe might be for your.
This allows you to deposit your money into your sportsbook account by making a transaction in person at a convenience store. Those include 7-11, CVS and more.
With this option, you enter your phone number or email to the sportsbook and they will send you a barcode to use while depositing your money at the store. This way you can pay in cash, check or debit card without giving your banking info to the sportsbook.
Prepaid Play+ Card
A Play+ Card is similar to a club card where you put money directly onto the card and then use it while gambling at the sportsbook.
With a Play+ Card, you are able to control the money as you see fit and reload it as often as you’d like.
The Play+ Card is something that requires you to enroll first and receive a card in the mail. If interested, be sure to start the process before wanting to wager.
Gift cards becoming a popular deposit option
One thing to be on the lookout for with the recent launch of Massachusetts sports betting is sportsbook gift cards.
In other states, like Michigan and Louisiana, sportsbook gift cards are available for purchase at many convenience stores and gas stations.
A gift card is exactly what it sounds like. You buy a card in a denomination, then enter the card into your online sportsbook account for immediate funds to use.
Gift cards are limited in value, but are a way to avoid using banking information online.
A Game On gift card is also available in some US online sportsbook markets. A Game On gift card is a multi-branded sports betting payment card. It works just like a direct gift card, but covers different sportsbooks like FanDuel Massachusetts, DraftKings Sportsbook and BetMGM.