For New Yorkers, it seemed like a pipe dream. Until the bill was passed and it became legal. We know how exciting this is. But it’s essential to consider the best banking options in New York before betting.
We’ll introduce the basics of banking online with New York providers. You’ll learn about popular deposit and withdrawal methods. We’ll discuss the bookies themselves. Finally, you’ll discover tips and tricks for choosing the best banking option for New York betting 2024.
Banking at online betting operators in NY
Before you can start using online sportsbooks in New York, you need to know:
- The available deposit and withdrawal methods
- The safest bookies to use those methods with
- How to choose the perfect banking option for you
It might seem like an easy choice. But it can impact the security and satisfaction of your betting experience so it should not be taken lightly.
Sportsbooks with great banking options
Banking options: All sites are 100% legal & licensed by the state.
| Company | Bonus | Pros | Visit |
 | DraftKings Sportsbook Bet $5, get $150 in bonus bets |
| Bet now DraftKings Sportsbook NY |
 | BetRivers Sportsbook 2nd Chance Bet up to $100 |
| Bet now BetRivers Sportsbook NY |
 | Caesars Sportsbook Up to $1,250 bonus |
| Bet now Caesars Sportsbook NY |
 | FanDuel Sportsbook No Sweat First Bet Up To $1,000 |
| Bet now FanDuel Sportsbook NY |
 | BetMGM Sportsbook Best odds |
| Bet now BetMGM Sportsbook NY |
 | PointsBet Sportsbook Up to 5 x $100 in Bet Credits |
| Bet now PointsBet NY review |
 | WynnBET Sportsbook Bet $100, get $5 in bet credits |
| Bet now WynnBET Sportsbook NY |
Banking options at NY operators
For starters, we’ll discover the best deposit methods. They’re available at most large NY online sports betting sites. So regardless of where you choose to gamble in NY, you can benefit from these seamless methods.
Play+ deposits in New York
Play+ is a prepaid debit card that allows you to quickly and easily fund your online account. You enroll online through the bookie’s cashier page. Then, make your initial deposit on the same day.
After that, you’ll receive a physical card in the mail, allowing you to use it at ATMs. We love this option, thanks to the instant processing time.
PayPal deposits
Making deposits at sites with mobile is efficient and convenient. PayPal betting in New York allows you to do that, and it is supported by all major ones.
The exceptionally secure e-wallet provides an uncomplicated way to keep your betting bankroll separate from your daily fund. Not to mention that you won’t have to deal with any extra charges (in most cases).
Credit and debit card deposits
Fast, simple, and convenient, credit and debit cards are generally the go-to deposit method in New York. Most bettors have them and know exactly how to use them online.
They don’t generally charge fees when dealing with credit or debit cards. However, banks sometimes categorize deposits as cash advances that incur additional charges. The best part is that there is no processing time. You can start your betting adventure immediately.
Deposit with Skrill at NY bookies
Skrill is similar to PayPal. But it comes with far higher fees and not all of the best ones in New York accept it. Usually, you’ll be better off using a different method. But when no other options arise, it will work fine.
The payment provider charges between 1% and 6% of the total deposit each time. However, it processes instantly and therefore counts as one of the fast payout methods in New York.
PayNearMe deposits
If you are looking for a deposit option that keeps all your bank information safe, PayNearMe is the go-to. You fund your account by heading to a PayNearMe cashier and depositing physical currency.
Surprisingly, the system will process the transaction within a few minutes, allowing you to get straight to betting. The only thing to keep in mind is that you could be charged up to $5.99.
The best withdrawal methods in New York
Depositing to play is excellent. But we bet you’re more interested in the banking methods with fast payouts in New York. After all, you’ve worked hard for your winnings; you should receive them quickly.
PayPal withdrawal method
Using PayPal for withdrawal at an online site is wonderfully straightforward. Just head to the payment page on the site, then with withdrawals, and click PayPal. But there are two things to keep in mind before choosing it as your withdrawal banking option:
- You won’t be able to use PayPal for withdrawal if you don’t deposit with it.
- Some place withdrawal restrictions on this provider. You might only be able to withdraw as much as you deposit.
Neteller withdrawals
Neteller betting in NY is another e-wallet available for use on multiple new betting sites. It’s one of the only deposit methods that also accepts withdrawals, allowing you to keep better control of your bankroll.
Setting up your account is pretty easy. However, if you already use PayPal for other purchases, it’s not worth having another account to look after. In addition, you can only access your withdrawn funds using a Net+ card.
ACH withdrawals at New York sites
ACH makes it easy to transfer money to and from your betting account. Moreover, it’s incredibly safe since it’s one of the country’s most trusted payment methods.
The Automatic Clearing House system is used to fund mortgages and car payments. So, if you’ve ever bought a house or car, you’ll be familiar with it. We love the fact that there aren’t any fees with this one. However, you risk hitting your overdraft if you incorrectly manage your bankroll.
Withdraw with Trustly
Using Trustly lets you benefit from instant withdrawal from an online site. It works with all major banks and won’t ever decline gambling transactions. Not to mention that it’s incredibly secure thanks to its new and improved technological protection.
One of the downsides of using Trustly betting in New York, however, is that you must input your bank details each time. While this works as a super effective security measure, it can be annoying and time-consuming.
PaySafeCard withdrawals
Making withdrawals with PaySafeCard wasn’t always possible. However, they have rectified this issue by introducing a service called Payout.
To request your winnings, all you do is provide your email address. Then, as soon as the provider has processed your request, the money will appear in your PaySafeCard account.
Where to use the New York banking options
Now you’re fully aware of your options; it’s time to discover where you can use them. You’ll find our favorite New York online sportsbooks and their supported banking methods below.
Banking options available at FanDuel
Fanduel offers the following deposits:
- PayPal
- ACH
- Credit and debit cards
- Play+
There are no fees associated with any of these options, and they all process instantly.
It offers these withdrawal methods:
- PayPal
- Play+
- ACH
- Check
Using ACH takes 3-5 business days which isn’t ideal. So, if you’re looking for the fastest withdrawal for online sports betting, you should opt for PayPal.
BetMGM banking options
BetMGM New York provides tons of widespread deposit and withdrawal methods. Most of them take three days or less to process, allowing you to receive money as quickly as possible.
You won’t incur extra fees, regardless of the withdrawal option you choose. However, limits are in place to reduce the risk of bettors cheating the system. Some options you can expect to find are:
- Visa and Mastercard
- ACH
- PayPal
- Play+
- PayNearMe
Banking options available at DraftKings
You can use Visa, Mastercard, ACH, PayPal, PayNearMe, and Play+ to fund your DraftKings New York account. The variety of options make this New York betting site attractive to both new and experienced bettors.
The deposit minimum is $10, and the daily maximum is $2,000 unless you’re a high roller. The withdrawal process is straightforward and seamless. You can use Play+, PayPal, ACH, or a mailed check.
PointsBet bankings
PointsBet New York is the least flexible betting site we’ve mentioned here. Although the deposit limit is massive at $50,000, they don’t accept PayPal like the rest of the top contenders.
How to choose the right options in New York
By now, you’ll know that many factors set banking options apart. And while all of them are viable options, that doesn’t mean they’ll be best for you. So, we will guide you through all the factors that you should consider before deciding. The factors are split up depending on whether they relate to withdrawals or deposits.
Factors affecting your withdrawal method choice:
- Waiting time — How long will it take for you to get your hands on the money? No matter which method you use, there will be a wait time because, sadly, your device can’t magically print checks. Thankfully, that wait time is usually less than 24 hours, but it’s worth comparing all your options.
- Any fees — Many offer free withdrawals, as long as you use a qualifiable method. But for some banking options, charges still apply. Where fees exist, they are typically small and are charged only to cover the third-party processing costs.
- Minimum and maximum limits — Each withdrawal method comes with its own transaction limit. Usually, the limits are placed on the dollar amount you can transfer. For example, the minimum might be $20 and the maximum $100,000. However, frequency limits also exist. For instance, you can only cash out once a week or month.
- The methods you use already — By this, we mean your banking preferences in your day-to-day life. If you don’t use PayPal, there’s no need to make an account solely for betting. Pick a method you use already to make it easy to get started.
Factors affecting your deposit method choice:
- Your lifestyle — If you’re low on money and/or don’t have a bank account, it might be worth stepping back from betting. If you want to deposit a large amount of money, you’ll need to find a method to facilitate that. If you don’t have a lot of money to spare, a no-fee way is best.
- The timeframe — There is nothing worse than having to wait days for your deposit to hit your account. Especially if you have a time-sensitive wager to place. Ideally, the deposit method you choose will be super speedy.
- Minimum and maximum deposit limits — Unfortunately, the minimum and maximum limits apply to deposits as well as withdrawals. It would be best to look for a banking option that fits the amount of money you’re looking to spend.
- Ease of use — Most banking options are easy to use. But they vary a lot when comparing how simple they are to utilize. PayPal tends to be the easiest, but that’s not the case for everyone.
- Security — When you’re visiting online betting sites, staying safe is vital. Ensure that your choice of payment method is as secure as can be. Some people trust big credit cards like Mastercard and Visa. But others are wary of typing in their card number into the site. It’s certainly one of the main points to consider.
FAQ’s About Banking options New York
How do you cancel a withdrawal request from an online site in NY?
Once you’ve made a withdrawal request, you can decide to cancel it. You can do this at any time. Visit the page where you asked for the withdrawal, then look for the cancel button. As long as the money hasn’t been “shipped”, the option to cancel should be available.
How do payouts in New York work?
When you win a bet, the money is put into your account immediately. You can then use this money to fund subsequent wagers. If you want to have the cash in your hand, you’ll need to initiate a withdrawal. You can do it quite easily from the bookie’s cashier web page.
Do you need to verify your ID when withdrawing funds from your account?
Depending on the site and the withdrawal method, you may need to verify your ID to get your winnings. Again, it’s best to check on the site’s FAQ page or ask a customer service team member.
Why do betting sites in New York have a maximum withdrawal limit?
Bookies run more risk when they have less cash flow running through their site. Liquidity equals a well-functioning company. Therefore, they like to keep the number of withdrawals down, this also goes to better betting odds, betting bonuses, and promos in NY.
Who do you contact if there is a problem with a banking option on a New York site?
You should contact the customer service team. If it’s the bank’s fault, you’ll need to call your bank to rectify the issue. We suggest checking the bookie’s FAQ page first, though.