As bettors, it is common knowledge that they are various methods of depositing and withdrawing funds within a sportsbook. Today our main focus will be on American Express as one of those funding methods; we shall focus on the advantages of this particular way of funding and the drawbacks as well. Most importantly, we shall be looking at it from the perspective of a gambler, from the fees to the availability of this method.
What is American Express?
American Express is a company that issues personal credit cards, gift cards, and debit cards to people and businesses. It is one of the leading companies in giving these services to its clients. Essentially American Express works as a bank but mainly focuses on the card payment systems. It allows you to access your funds quickly and easily and offer all sorts of card payments that are accepted globally.
Is it legal to deposit on betting sites with American Express?
Yes! It is legal to deposit on betting sites with American Express.
With prepaid cards or even credit cards, it is possible to load funds onto your wallet on a sportsbook, Provided the sportsbook accepts this means of depositing. The majority of the betting sites accept this means of payment, especially in North America and Canada.
Can you deposit and withdraw with American Express?
It is a quick and seamless experience on most sportsbooks in Canada when depositing funds with American Express or Amex, for short. You load funds from your Amex card either directly to the sportsbook or onto an Ewallet, and your money will be available to bet with. The issue comes when it’s time to withdraw; in Canada, it’s not possible to withdraw funds with your Amex card, even if you used the same card to deposit your initial bankroll. This is a huge drawback as it forces you to seek another way to access your winnings and have them sent to your personal account. Another possibility is you might run into processing fees; all these points apply even to sportsbooks such as Betway, Sports Interaction, and even 888Sport
American Express fees for betting sites
Every bettor is curious about the fees for using a particular service to move around their money. In the case of American Express, no fee is required for depositing, and this goes for almost all the depositing methods, as this is a crucial part of the betting system, and sportsbooks realize that. You can’t expect to receive any withdrawal fee on a service that does not allow it in the first place. Due to the fact that you can’t withdraw with an Amex card, then you can’t be charged a fee for that particular process. It is to be noted that when you acquire an Amex card, you will be assigned specific interest fees by the company.
Pros and Cons of Using American Express Betting Sites
Now let’s take a look at the pro and cons of using this method as a means of funding your betting activities and withdrawing your winnings:
- In terms of security, American Express is one of the best, and you can rest assured your information is being stored securely, and all you have to worry about is your next bet.
- Another great point is their flexible limit fees, which are higher than other methods of depositing funds, so if you’re looking for a higher limit on your deposits, then Amex is your best choice.
- Sadly, in Canada, not many Sportsbooks accept Amex as a service, and that can limit your options when it comes to finding ways to get resources or take your winnings.
- The biggest drawback has to be that you can’t withdraw your funds from betting sites in Canada, which adds an extra step that needs to be taken so that you can access your winnings.
Best Betting Sites with American Express in Canada:
888Sport, from a global perspective, works pretty well with American Express, but in the case of Canada, it simply only allows you to deposit funds. Still, just like every other sportsbook, you cannot withdraw using the service.
Betway is one of the best sites when it comes to cooperating with American Express, and it is considered one of the best sites when it comes to using the service. Sadly, even a giant such as Betway cannot bypass the law and faces the same hurdle of players not being able to withdraw using the service.
Sports Interaction is one of the biggest Sportsbooks in Canada and caters very well to its primary audience, Canadians. But with this betting site, you cannot use American Express to deposit or withdraw funds as it is not one of the available options on its site.
For More Related Articles
If you have doubts and questions regarding this financial topic get more information here.
- Depositing Using PayPal At Betting Sites
- How Do You Deposit Or Withdraw Money On Sportsbook Online? Betting Guide
- How To Use Online Banking To Get Cash Into Your Sportbook
- 1 What is American Express?
- 2 Is it legal to deposit on betting sites with American Express?
- 3 Can you deposit and withdraw with American Express?
- 4 American Express fees for betting sites
- 5 Pros and Cons of Using American Express Betting Sites
- 6 Best Betting Sites with American Express in Canada:
- 7 For More Related Articles