As the NJ sports betting market expands, so does the competition. To get a customer’s attention, sportsbooks now compete not only on advertising, platform design and odds, but much more.
It’s easy, however, to overlook the feature that might end up having the last word. It’s the odds that reel you in, but it’s convenience that will make you stick around. Deposit and withdrawal methods are critical to the player’s experience and as it turns out, not every NJ sportsbook passes the test.
So let’s take a tour across the NJ sports betting market and see how each of the eight sportsbooks is doing in this area.
DraftKings Catching Up In NJ Sports Betting Deposit Methods
Right off the bat, it’s clear that not every deposit method is available all across the board. The only method that all eight NJ sportsbooks share are credit/debit cards. This deposit method may be universal, but not entirely reliable. Rejection from banks on transfers from NJ sports betting operators has been seen before. Often even if the money does go through, it may be subject to additional fees, since banks often view funding a sports betting account as a cash advance.
It also goes without saying that cash is only accepted in physical locations. Almost all NJ sports betting operators have physical representation in the face of partner casino cages (DraftKings and BetStars at Resorts AC, SugarHouse at Golden Nugget AC, etc.), except for FanDuel.
If we look at each sportsbook, Caesars pops out as the one with the largest selection of deposit methods. It accepts:
- PayPal,
- Neteller,
- Credit/Debit,
- PayNearMe,
- prepaid cards,
- cash and
- E-check.
On the other end we have DraftKings, which for now seems to be the most limited NJ sports betting app payment-wise.
DraftKings currently accepts PayPal, credit/debit and prepaid cards, E-check and cash at Resorts AC. It’s unlike DraftKings to stay behind its competitors, so a near-future expansion of its deposit methods list is more than likely.
BetStars, an NJ sports betting partner for DraftKings, on the other hand, is doing well in this area, with PayPal being the only unavailable option for the moment.
NJ Sports Betting Deposit Options
The most widely used deposit options on the NJ sports betting market seem to be e-wallets – PayPal and Neteller. Online money transfers will beat checks and money orders in convenience every time.
For those having a hard time getting their funds online, PayNearMe has proven to be the most popular option. Bettors need to go to a nearby 7-Eleven or CVS pharmacy to fund their online account. Unlike e-wallets which require you to link a bank account, this method’s simplicity is in the seamless cash-to-Internet transaction.
Prepaid cards serve as a buffer between one payment method (like a credit or debit card) and the player’s account. This method is convenient because it allows the holder of the prepaid card to withdraw cash at an ATM, which is a luxury previously reserved for credit and debit cards.
E-checks are widely used by NJ sports betting customers with checking accounts.
Sportsbooks Like DraftKings and BetStars Have Introduced Unique Deposit Options
Some NJ sports betting platforms don’t shy away from unconventional payment methods. Perhaps the best example is DraftKings, where active daily fantasy sports accounts can be used to fund a sports betting account. This is a popular method among many long-time DFS players.
BetStars also have the advantage of PokerStar’s years-long experience with online money transactions. As a result, the company has introduced instant online banking via Rapid Transfer, which is basically a real-time bank transfer from a bank account.
Many other platforms have their own arrangements with a certain bank, through which a customer can directly transfer funds in the form of an online bill pay. This method works flawlessly for those with online banking and a verified account on an NJ sportsbook.