Getting your money into and out of an online sportsbook can be a challenge for Americans and Canadians. The rest of the world has it relatively easy, with a few exceptions here and there. If you're not living in America or Canada, we have just one word for you: Neteller. Neteller is accepted at every decent online sportsbook, they provide the fastest payout method as well as the cheapest payout method. If you can use Neteller - just use Neteller for all your deposits and withdrawals.

Canada and US Residents Have the Most Trouble

If you are living in Canada or the United States, then you don't have the Neteller option. This is because the US Government passed a law in 2006 making it illegal for banks and financial institutions to transfer money from US citizens to unregulated (internet) gambling establishments. Neteller had to stop providing service to all Americans, and because our communications infrastructure is so intertwined with Canada, Neteller cut off Canadians as well.

Fortunately for Canadians they still have some payment processors that do work. The best of the rest is Moneybookers. The fees are a bit higher than Neteller, but it is close to universally accepted. This makes it easy to move money around to your various sportsbooks as your wins and losses tend to unbalance things over time. If you're Canadian and betting on sports on the internet, get a Moneybookers account. You can load it (deposit to it) from your bank account or from your credit card and then unload it (withdraw from it) straight to your bank or have them process a check.

Americans Still Have Several Cashiering Options

Americans have to go to greater lengths to find means to deposit and withdraw from online sportbooks. There are some pre-paid credit cards that work. Fees on them vary widely, so be sure you read the fine print before signing up. You can also use a service known as eWalletXpress. This is an online payment processor based on a Navajo reservation in Canada - so apparently they do not fear being hassled by US federal laws. They are only accepted at a handful of online sportsbooks, though, and the withdrawal fees are very high. Be certain you are going to get lots of use out of them at several sportsbooks before registering an account.

Two of the more popular ways currently in use is Western Union and MoneyGram. These services will not send directly to a sportsbook, but you can do person-to-person transfers with an employee of the sportsbook who then deposits to your account when the money is received. Most sportsbooks will also reimburse your fees for using the service if you make a deposit of $300 or more. You will usually have to pay the withdrawal fee on your own, however. Most books would prefer you left your money with them until you bet it all away.

Contact Customer Service at Your Sportsbook

There are also some unique options available at some books. You will need to explore those with the sportsbooks you choose. Just contact the customer service of a sportsbook you are considering and ask about deposit and withdrawal options. They will be very helpful because they always want more customers.