Horse Racing Betting Payment Methods

There are pros and cons to each payment method and which ones to use vs. avoid really boils down to what is the most accessible and comfortable to you. Here is a list of the options currently available:

Electronic Funds Transfer (ACH):

The easiest way to fund a betting account is by electronic funds transfer, which links your checking account directly to your betting account. Most ADWs don’t charge for the service and funds appear immediately, however there is usually a cap placed on such transfers. Another benefit is that if the accounts are linked withdrawing money when you win is just as easy, and usually appears in your bank account in a couple of days.

Credit / Debit Card:

Funding your account with a credit or debit card is convenient, but there are generally small fees associated with doing so. It does come with the benefit that you don’t have to hand over any bank account information.

Wire Transfer:

A wire transfer operates the same way as an electronic funds transfer except that the money may not be available in your betting account for one to two days, or however long it takes your bank to process the request.


Most ADWs still allow you to mail a check to fund your account, whether it be a personal or cashier’s check. This is obviously not recommended, as it will take quite a long time for the money to show up in your account, however it is possible for those that like to do things the old-fashioned way.


PayNearMe is an electronic payment network that allows you to fund your account with your credit card, debit card, bank account or cash. For cash transactions you can select a payment location nearby, take the payment code provided to the location you’ve selected and submit your cash payment with the store cashier. CVS and 7-Eleven are both PayNearMe affiliates.


Some ADWs allow customers to make deposits via PayPal, a site that facilitates online money transfers. PayPal is easy to use, but there are also fees incurred.


Of the various methods, check is the one that takes the longest to appear in your account, as it must physically be mailed to the ADW, which could be a great distance from your location. PayNearMe allows you to fund your account with cash, however it can sometimes be a hassle to seek out a participating store at which you can deposit the money. Credit / Debit card and PayPal are both easy to use, but their convenience is offset by the charges incurred in using those methods.

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