This section may be the most important to anyone currently over 21 and currently in New Jersey. Although you may be doing nothing wrong, you may encounter issues in being able to deposit and withdraw funds from your account.
The reason for this is simply that although the law is clear at a state level, at a national level it’s an ever-changing landscape, and will be so for a couple of more years. This means that some banks are up-to-date and following the situation whereas others have decided to wait until there is more of a clear nationwide picture as to what is going on. In short - not all banks allow you to withdraw or deposit funds, even if you are in NJ.
Then moving away from the legal aspect, there is a variation between sportsbooks as to what they offer as payment methods. For Example, some sportsbooks have PayPal as an approved partner whereas others do not. Here we suggest you check out our breakdown of sports betting payment providers here.
So what are the most common payment providers in NJ? Well, every sportsbook is different but here are some of the most popular ones:
Our dear trusted friend PayPal. The American company that processes millions upon millions of transactions over year is a favourite in the betting industry. Remember you will still need to check with your sportsbook of choice to see if they accept PayPal.
Another global payment services provider that you can trust. Neteller is not quite as ubiquitous as PayPal but almost and you can find it available at the majority of NJ sportsbooks.
This method might sound a little clunky compared to the big brands such as PayPal or Neteller but anyone who has used it will know that it is surprisingly easy to use and set up. All you need to so is provide your social security number and choose a PIN. The advantage with this method is you do not incur the fees you do with a credit or debit card. The drawback is that the processing times are much longer - up to 48 hours to deposit and up to 72 hours to withdraw.