Which betting sites in Illinois accept online banking?
There are currently 4 betting sites in Illinois that accept online banking: DraftKings, Caesars, BetRivers, FanDuel.
Different types of online banking in sports betting
When it comes to online banking as a payment method in sports betting, there are two different types of options you can use:
The instant method - verifying directly online
The instant method allows you to transfer funds directly from your bank to your sportsbook account. On some operators, you can sign in to your bank directly through the checkout and verify the transaction.
Therefore, the money will reflect on your sportsbook account instantly. This online banking method is very similar to using Trustly when depositing money.
The slower method - making a bank transfer
If your bank doesn't accept direct online banking deposits, you will have to make a bank transfer physically using cash or check. This method can be slow as it can take more than 24 hours for the funds to be transferred to your sportsbook account.
How to deposit to a betting site in IL using online banking
When you want to deposit to an betting site in IL using online banking, you need to follow the steps below:
1. Register to an Illinois sportsbook
Once you have found your desired sportsbook that operates in Illinois, visit the site and click "Register," which can also be "Join Now" or "Sign Up" on some sites. Then, enter your information, including your name, email address, phone number, address, and the last digits of your social security number.
You will be asked to verify some of these details before your account is validated. For example, the sportsbook will send you an email with a link to verify your email address.
2. Use online banking when making a deposit
Now that you already have an account, it's time to make a deposit using online banking to start betting. Fortunately, online banking betting sites in Illinois have made the process straightforward.
3. Choose your bank from the alternatives and verify the deposit
Go to your sportsbook account, click on the deposit option and select online banking as your payment method. A list of banks will appear, thus you should choose your one from the alternatives.
This will direct you to your bank's website, where you can log in using your credentials. Input the amount you wish to deposit and confirm the transfer. The deposit will reflect on your sportsbook account instantly.
How to withdraw your winnings
Making a withdrawal is pretty much repeating the same steps as when you make a deposit. Read more below about how it works when you want to cash out your winnings from a sportsbook:
1. Go to withdrawals and choose online banking
After you have made winnings on your sportsbook, it's time to enjoy them. Go to the "Withdraw" section on your sportsbook, which can also be titled "Cash Out," "Cashier," or "Wallet" to withdraw the money.
2. Choose your bank and verify the withdrawal
In the cash out section, choose online banking as your payment option and select your bank from the list provided. Input the amount you want to withdraw based on the maximum withdrawal policies or wagering requirements.
After this, click the "Request Withdrawal" button. The sportsbook will receive your request and review your information, which can take 24 to 48 hours before the money arrives in your bank.
The benefits of using online banking in sports betting
Many players prefer online banking in sports betting since it doesn't require any middlemen that require fees and since it is considered one of the most safe methods of transfering money.
Secure transfer through your bank
Online banking betting sites in Illinois are secure because banks employ advanced measures to protect their customers. For example, they use high-quality encryption.
Thus, your bank will ensure that your funds are deposited into your sportsbook safely. Moreover, your bank will send you security codes to confirm you are the one making the deposit. Your bank will not share your financial details with the sportsbook.
In addition, during withdrawal, your bank will validate your details before completing the process. You should also choose betting sites that comply with rules set by Illinois Gaming Board for more security. See document to understand the Illinois Gambling Act.
You can deposit and withdraw high amounts
Another reason to consider online banking betting sites in Illinois is that you can deposit and withdraw high amounts. Other payment options usually have limited deposit and withdrawal amounts which can be restrictive to players. Luckily, when you use online banking, this would no longer be a problem.
Due to high safety guarantee, banks allow players to deposit and withdraw high amounts. However, the limit differs with sportsbooks. You can get this information from the payment details section or terms and conditions.
No fees in the most cases
In most cases, you won't incur transaction fees on online banking betting sites in Illinois. However, sometimes, mostly during withdrawal, some fees may apply. Therefore, you should always check your statements to notice if you paid any fees.
If you don't understand how the fees were applied, contact your sportsbook's support team for clarity. Some sportsbooks can refund you any outside fee charged by third-party processors.
Popular banks in Illinois that have online banking
Most American banks offer their customers the possibility to control their bank account from their web browser or an app. Therefore, there are plenty of banks in Illinois that offer their customers online banking. You can read more about the different banks below: