E-Wallets And E-Checks
We decided to group these under one article because they are both deposit and withdrawal methods that are no longer available in US sports betting markets. After the UIGEA and even more so after the “Black Friday” seizures, sites began to move away from typical online gambling cashier options to more traditional methods.
Safest Sportsbooks Using E-Wallets 2020
Using E-Wallets At Sports Betting Sites
Many bettors might see e-wallets, such as Neteller and Skrill (Moneybookers) advertised on the main pages of US-facing bookmakers or options in the cashier. Both of these sites were once available to US citizens but left the market due to legal issues. Currently, they do most of their business in European markets. Neteller was once the leader in online gambling transactions. It processed more than 80% of online gambling transactions in July, 2000. At the time, the vast majority of their revenue was from the US market.
UIGEA Restrictions On Betting Sites
Shortly after the passage of the UIGEA, the US Department of Justice froze Neteller’s assets, including funds by customers in July, 2007. Neteller’s owners struck a plea bargain deal where they forfeited $134 million in profits and agreed to return US players balances totaling $94 million.
Return Of Neteller Method To The United States Betting Sites
The balances were returned to players about a year later. It should go without saying that Neteller never returned to the US sports betting market. However, they have returned to the state of New Jersey’s online poker and casino market, which is regulated by the state. This differs greatly from availability on offshore sports betting sites, however. We won’t see them in that market again.
eWallet Express Rise & Fall
After Neteller and Skrill left the market, there were a few competitors looking to try their hand in the US Betting Sites e-wallet market. A company called eWallet Express emerged as an option and was utilized by many of the large sportsbook and poker rooms. Unfortunately for players, this ended in disaster. The company went offline in late 2010 and while they denied the funds were seized by the US government, they later admitted that was the case.
They promised to return player in a statement but years went by with no future updates from the company. They seemingly vanished without a trace from the internet and took players’ bankrolls with them. eWallet Express was the last e-wallet to operate in the US market. No other companies have tried and for good reason. Online gamblers would be crazy to give another e-wallet a try, even if one decided to re-enter the market.
Using E-Checks At Sportsbooks Sites
E-checks were once one of the most popular deposit options for US players. Electronic checks were processed by giving online gambling sites your bank account and routing number, which would then debit your account through the ACH network. The funds wouldn’t be taken out immediately but within several business days.
E-checks were a huge help in replacing the void in payment process that the loss of e-wallets created after the UIGEA, but have now completely disappeared from as a deposit method. After the Black Friday seizures, e-checks were essentially eliminated as a deposit option for US players. Payment processors and banks were seized that processed these deposits and they haven’t been used in the US market for a number of years now.
Conclusion About E-Wallets & E-Checks At Sportsbooks
If you are looking to use these methods on any particular betting site sadly you’ll have to look for EU based sites since there it has a more widespread use. But if the case is that you are looking to play in US sites, then the best options you’ve got are not about E-Wallets or E-Checks, the best is about Bitcoin or approved Credit Card sites (depending on the jurisdiction). For this kind of info we got for you a review hub where you can get detailed information about the sites we review, which have been safe and secure.
If you are looking for other deposit or withdrawal options besides this one, such as credit cards, bitcoin or any other, where we offer our detailed point of view, be sure to check out the hub page.