Sports Betting with Amex
The history of Amex dates back to the 1800s. This method of payment is said to be responsible for a quarter of all the credit card transactions made using US dollars. American Express is thought to be valued at $20 billion. The company that was a shipping company initially is now racking in almost $33.5 billion in annual revenues. Amex is sometimes not accepted by oddsmakers due to the high fees that are associated with transactions. If you want to know more about how to deposit funds into your betting accounts using Amex, then read on.
IDespite some oddsmakers not accepting American Express, most punters think using it as a way to withdraw and transfer funds convenient.
US Sports Betting Online Bookies that accept Amex
Depositing with Amex
United States players have an advantage because sportsbooks across the states widely accept American Express credit cards. The transactions made with Amex tend to go through with a little inconvenience for bettors.
Once the transaction has been accepted the depositing will instantly go through to the betting site, and the funds will be available for you immediately.
Sometimes there are technical issues that contribute to deposits being declined. If that ever happens the first thing to do is wait for a few hours then trying again with the same card that usually rectifies the problem.
You need to be aware that AmEx transactions usually have higher depositing fees compared to other payment methods. You can expect American Express transaction to carry a 7-9 percent depositing fee.
Unfortunately, bettors who have chosen to use American Express to deposit funds into the betting sites will have to select another type of payment to withdraw funds. The payout usually takes 24 hours to be processed.
Keeping your Amex Account safe when Betting
The legitimate sportsbooks available in the United States generally use sophisticated encryption techniques that make them invulnerable to attacks or data theft. When you use your AmEx card to deposit money into your sportsbook account sometimes your bank will give you a call so that you can authorize the transaction.
While many punters may prefer this method of depositing funds. American Express does carry some challenges that you will have to consider when betting.
Many people have experienced high merchant fees when using Amex. Compared to other payment methods, Amex seems to be the highest. However, since American Express cards are accepted in many offshore betting sites, it is the favorite amongst punters who don't mind paying the high fees.
Every state has its laws on sports betting. In some states, sports betting is allowed while other states don't allow this. This can be frustrating for online gamblers because American Express cards sometimes cannot distinguish between legal and illegal sportsbooks. You may then receive calls from your bank whenever you want to make a transaction which can become tedious.
Tips on Maximising Amex Use
Even though there are hassles when using American Express cards when betting, there are ways that you can employ to capitalize on your Amex account.
Tip 1: Fund another banking method with Amex
This is the easiest way that you can use to reduce the fees associated with depositing directly from your Amex card. There are a plethora of banking options that you can choose from to fund the account.
Tip 2: Pay your balance when it’s due
It's advisable to pay the amount you have used every month to avoid paying an excessive amount of fees. It is essential that you don't miss payments and to make them on time to avoid paying more money than you have budgeted.
Tip 3: Claim Rebates and Bonuses
It is a good idea to claim any rebates and bonuses that you receive. This will help offset any interest accrued on your Amex card. Even though you cannot directly withdraw funds into your Amex card, it seems like a good idea to keep your Amex card interest free with these methods.