If you’re an avid sports bettor, you probably already know that placing an online bet is legal. In fact, the federal government doesn’t even have anti-gambling laws. This is a good thing, because the Justice Department has shown no interest in prosecuting casual bettors. Nevertheless, each state has its own gambling laws, many of which date back to the Hoover Administration. While a few have updated these laws to include internet betting, most are still outdated.
One option for depositing funds is a major credit card, such as Visa or MasterCard. However, many bookmakers have opted against credit card deposits because they require an extra financial hop. In addition, many bookmakers have a service charge to process credit card transactions. This fee is passed on to the customer, so it is important to read the fine print. The New York State Gaming Commission doesn’t seek bids until July 9; the entire process could take several months.
Among the most popular options for making a deposit are major credit cards and Bitcoin. Unlike credit cards, cryptocurrency deposits are anonymous, removing the need to share personal information. Also, many cryptocurrency transactions don’t incur any additional fees. In addition, some bookmakers offer a large bonus for new players who use bitcoin as a deposit method. This can be a good way to make large amounts of cash. The downside to Bitcoin is that it’s not a very secure option, but the security and privacy advantages it brings make it an attractive alternative to traditional banking.