Money orders are a method of payment similar to checks, where a piece of paper acts in the place of actual cash for a specified amount. The biggest difference between the two is that money orders don’t require a bank account, and they can be obtained at various locations such as post offices and convenience stores.
This form of financial transaction first appeared in Great Britain in the late 18th century, although it didn’t gain in popularity until much later. It’s now accepted in countries around the world and can be used to pay for all manner of goods and services.
Money order betting sites have been a common feature since the early days of online sportsbooks and casinos, and they remain a reliable method for funding accounts at gaming sites. This article is meant to discuss the deposit option in greater detail, from the advantages of money orders to some of the key items to look for before opening a sportsbook account.
Why Choose Money Orders for Your Betting Site Deposits
One of the major advantages of money orders is their straightforward nature. You don’t have to jump through a bunch of hoops in order to obtain one. All you need to do is find a participating location, fill out a money order with the necessary information, pay for it in cash, and then send it along to the recipient.
The size of a money order can also be tailored to the needs of the customer, from a small amount to something more ambitious. For example, the United States Postal Service currently allows postal money orders to be obtained up to an amount of $1,000.
If you get nervous about sharing credit card details or banking information, you’ll find money orders to be a much more anonymous form of transaction. The retailer might require you to show some form of ID when making the purchase, but otherwise you can buy it and send it without any hassles or security risks. As an additional selling point, postal money orders from the United States are considered one of the more difficult documents to forge.
Money orders also have the benefit of being one of the more accessible transaction options on the planet. They’re available to both rich and poor, and almost every country has some form of organization that sells them. For example, the international money orders sold by the US Postal Service are accepted in 29 countries at the time of this writing.
Money Order Betting Sites – What to Look for Before You Deposit
Before you go searching for one of the many money order betting sites on the Internet, I suggest taking a moment and verifying some basic details that should serve you well in the long run.
Prior to handing over your personal information and trying to open an account, you’ll first need to make sure that your sportsbook of choice actually approves money orders as a form of payment. Luckily, this shouldn’t be a problem, as the convenience of this option makes them accepted at most leading gambling sites.
It’s also a good idea to check the bottom of the site’s homepage to see where they’re licensed. With the exception of some Bitcoin sites, almost all sportsbooks and casinos pay an annual licensing fee to some governmental organization. This is meant to provide a degree of oversight regarding the site’s activities, which is supposed to give the customer a greater guarantee of fairness and transparency.
Of course, some jurisdictions are more serious about their responsibilities than others. While a few carefully watch the sites under their authority and work hard to mediate player disputes, others are happy to sit back and collect their annual tithe.
While the site’s jurisdiction is important, the actual performance of the sportsbook or casino is even more vital. This is something you should pay close attention to before making a deposit, as selecting a shady gambling provider can lead to lost funds and plenty of unnecessary aggravation.
How Do Other Betting Site Deposit Methods Compare to Money Orders?
When it comes to speed, most sports betting deposit options are superior to money orders. That’s because the latter must be physically delivered to the sportsbook or casino, and sending it via traditional mail can take a week or even longer. There’s always the option of sending it by a courier service such as UPS, but faster times require higher fees.
For gamblers who like to remain as anonymous as possible, money orders allow funds to be deposited into an account with having to provide a lot of credit or banking information. In this way, they’re much preferred over credit cards.
When a money order is purchased, the customer is required to pay a small fee on top of the amount being sent. This is to make it worth the while of the participating vendor, although those who use e-wallet and debit card services can do so without any additional fees.