Funding an Online Sportsbook
The UIGEA is a real ass pain, but I am DETERMINED to not let it stop me from betting online. You can feel the noose tightening, though, and it sucks! I get frustrated at times, but I keep on grinding.
I have used both Western Union (WU) and Moneygram (MG) a few times each to make deposits. I prefer Western Union, but largely because the store where I go to use Western Union is nicer, with friendlier people. There is not much difference in the process between the two services.
- You contact the sportsbook and tell them you are going to make a deposit using WU or MG - whichever the book uses.
- They give you a name and a country to send cash person-to-person.
- You take cash to the store that services either WU or MG. Both companies have websites with store locator applets, so finding a store near you is very easy.
- You fill out a one-page form supplying your info (name, address and phone) and the name and city, country of the person the sportsbook gave u as a POC.
- Give the clerk the form and money and get a receipt with your control number on it.
- Confirm to the clerk that you want the recipient to get USD, not the local currency. (Both services charge a conversion fee if you send it in local currency.)
- I was once asked by MG if I was sending this cash to a sportsbook (that store clerk is a hard ass). I did my best to look puzzled and asked what a sportsbook was, and he just moved on.
- Go back home and call the sportsbook and give them the control number. Sometimes they need additional stuff like the name of the person you sent it to, and the name of the person sending and amount.
- They can usually credit it in a few minutes, because they can verify your transaction online.
If you are sending over $1,000 the agent at the store is required to see your ID - at least that is what they told me. For smaller deposits they rarely ask to see an ID. Not that I would ever be depositing using someone else's name.....
All the books I have used so far have reimbursed the fees charged by WU or MG as long as you make a minimum deposit, in the $200-$300 range. Under $1,000 WU charges $12 and MG charges $9.99. Over $1,000 and the fees go up very quickly. You can send money online with both services, but the fee is trebled, and you will not be reimbursed for the online fee. The books I have used thus far reimburse by adding cash to your account: send $500 to Bookmaker using MG and your balance will be $509.99.
Many of the books also disguise their use of WU and MG. SIA, for instance, calls it "RC Cash" and says you need to call CS for more info. Call CS, and they will send you information in e-mail about how to use MG. (Speaking of SIA, they now have a withdrawal option that allows you to get the money straight back to your bank. I have used it once, and it worked very well - and no fees for that, either.)
Happy Chasing!