How To Deposit Funds At Your Michigan Online Gambling Account

Written By Derek Helling on January 28, 2021Last Updated on June 3, 2021
online gambling deposit options

Two of the biggest advantages of using a legal sportsbook and casino site in Michigan are both the ease and security of online gambling deposits, and withdrawing funds. State regulations and laws govern online gambling deposits closely. That means you can be confident your financial dealings with licensed operators will be on the up and up.

While the rules governing this aspect of online gambling are solid, financial institutions and the book or casino do have some standards of their own, too. This often leads to declined deposits, delays, or limited payment options, at least initially.

At launch, you should be able to find the online gambling deposit option that works for you. In general, the method you use to deposit will be the method available for withdrawal. Here’s a list of deposit options available in Michigan, followed by explanations of how each funding method works. We will add to this list periodically as more information becomes available.

App/Site Credit/Debit ACH/Echeck Online Banking Wire Transfer PayPal Skrill Cash At Cage Prepaid Card PayNearMe Gift card
Barstool X X X X X X X
BetRivers X X X X X X
DraftKings X X X X X X X
FanDuel X X X X X X X X X
Four Winds X X X X
Fox Bet / PokerStars X X X X X X
Golden Nugget X X X X X X
PlayGunLake X X X X X X
PointsBet X X X X
TwinSpires X X X X X X X
William Hill X X X X X X X
WynnBet X X X X X

Note: Minimum deposit amounts depend on the casino/sportsbook and the payment method you choose. 

Credit and debit cards

Two of the most common options are credit and debit cards. If you’ve got a card with an American Express, Discover, Mastercard, or Visa logo on it, it’s generally good for use here. They are subject to the issuer’s policies, however.

Some banks do prohibit using the cards they issue for gambling. Additionally, some may have limits for these types of transactions. If you’re wondering if your bank has any of these policies, contact it directly.

For the most part, each sportsbook and online casino in Michigan sets its own deposit limits for credit and debit cards. This is usually a dollar amount within a specified timeframe. For example, a sportsbook may have a deposit limit of $10,000 per day using a credit or debit card.

However, this is also something you can customize. Many bettors do that to ensure they don’t spend more they can afford to lose. Some states prohibit the use of credit cards for sports betting. As of right now, Detroit casinos have a cash-only policy at their sportsbooks, but online sports betting sites in Michigan do allow it.

Many bettors prefer to use this method because the transactions usually take place quickly. Most times, your funds are available within a matter of seconds. That’s still subject to financial institutions’ availability and gambling policies, however. Usually, that’s more applicable to withdrawals than deposits. It can take days to see your winnings in your accounts.

While it can be easiest to use the same card for both deposits and withdrawals, that’s not an absolute. However, if you choose to use different cards, it can delay your receipt of funds. One way to prevent these delays is to get them out of the way beforehand. ACH payments can provide a path to that verification.

ACH payments from a checking or savings account

ACH payments are essentially electronic checks, allowing you to fund your online gambling account using your bank accounts. Some operators allow you to streamline setting up these funding sources by connecting your online banking accounts to your accounts with the books.

While these transactions can sometimes take longer to complete, they can allow some bettors a workaround for banks that prohibit gambling transactions with credit/debit cards. Additionally, it can be a way to circumvent transaction fees attached to credit and debit cards.

Again, these transactions are subject to house rules on deposit limits. However, they can make keeping track of exactly how much you’ve spent and won betting on sports easy. That goes for enjoying your winnings through withdrawals as well.

ACH payments aren’t the only type of electronic payments available, though.

Electronic wallets (e-wallets) and PayPal

Ever heard of PayPal? We bet you have. And as such, you’re familiar with electronic wallets, or e-wallets. Another example of this is Skrill.

The huge advantage of using these funding sources is they offer the utmost in security. Because the online gambling app never has your credit/debit card or bank account details, there’s no concern about that information being compromised.

You pay for that protection, however. These third-party payment channels do charge fees for gambling transactions. For that reason, the online casino or sportsbook may restrict your use of them more than they do other funding sources.

However, PayPal and other e-wallets are common deposit methods at gambling sites. They are usually speedy and simple to set up.

If security is your foremost concern, going with traditional banks in another way is optimal.

Wire transfers or bank transfers

Wire transfers transactions usually take the most time to complete. Additionally, they can carry the highest fees. However, there is very little doubt that the sportsbook/casino will accept your deposit or the bank will verify receipt of your winnings using this method.

Some sportsbooks may let you use some banks’ bill pay channels in lieu of wire transfers. If you use these methods to withdraw your winnings, you can order a check or money order from your bank to enjoy your profit. Normally, those arrive via postal services.

A lot of bettors who prefer to use cash for their transactions may believe they can’t bet on sports online for that reason. In truth, that’s far from the case. There are actually several ways you can convert cash into funds in your online sportsbook account. It all depends on how close you are to a Michigan casino or local store.

Funding your account with cash

If cash is king, then there is a way to fund your new online gambling account with it. It just depends on the site’s preferred payment options.

A common way to do a cash deposit is to visit the retail casino attached to the online app of your choice. There, you can make your deposits and withdrawals in cash. This is called “cash at cage” or “cash at casino cage.”

However, not many gambling apps in Michigan offer this option… at least not yet. If and when they do, the scenario is fairly simple. For instance, if you live in Detroit and use the BetMGM Michigan app or the FanDuel Michigan app, MGM Grand Detroit and MotorCity Casino, respectively, can be used to deposit and withdraw funds.

If that’s not convenient, there are several other cash options.

Many sportsbooks accept prepaid debit cards that you can buy at a myriad of retailers. Examples include Play+ and PlaySafe. DraftKings Sportsbook has its own gift card for sale at a lot of retailers across the country. They are not available in Michigan yet.

If that’s not your cup of tea, perhaps you’ll like PayNearMe or Pay With Cash.

PayNearMe is essentially a cash bill-paying service that also works with many gambling companies. All you need is a barcode from your account and the cash you want to deposit when you visit participating stores. 7-Eleven is a prominent outlet for this service.

What is the best payment option for online gambling?

For most Michiganders and visitors to the state, online gambling is now a click away. How you fund your account depends on your preference. You may find that PayPal is the best and most secure option, or you will like the simplicity of a prepaid card.

If you want to deposit funds using a credit or debit card or bank transfer, our advice is to call your institution to verify their policies before starting a payment. As Michigan online gambling matures and more apps arrive, deposit options will shift and change and expand.

Just remember to always fund your account responsibly.

Derek Helling Avatar
Written by

Derek Helling

Derek Helling is a lead writer for PlayUSA and the manager of BetHer. He is a 2013 graduate of the University of Iowa and covers the intersections of sports with business and the law.

View all posts by Derek Helling