How To Deposit Money Into Offshore Gambling Sites – The Best Gambling Banking Methods For 2022

To learn how to deposit money for online gambling, we recommend checking out the specific instructions we’ve included on each of our dedicated banking method pages.

Generally, though, the process is simple, and it works like any other online payment procedure. For example, you already know how to use a credit or debit card online, and it’s not much more involved to make crypto transactions.

That said, for more traditional bet funding options like bank wires, checks, and money orders, you may have to physically visit your bank or post office to transfer your payment.

For the most part, payouts work just like deposits, only in reverse.

The sole caveat is that legit gambling sites no longer use credit card chargebacks, debit card chargebacks, or gift card chargebacks to pay out winnings.

Every single one of the legit online casinos, legit online sportsbooks, and legit online poker rooms we recommend have been fully vetted to offer total customer privacy and enhanced anonymity.

No reputable online gaming venue ever shares or sells its members’ personal or financial information.

Only if you want to. All currency conversions at offshore betting sites are handled automatically whenever you submit a deposit or claim a payout.

Most sites default to converting all deposits – including Bitcoin/crypto deposits – to USD. However, you can also choose to have crypto deposits credited to your account as mBTC (aka milliBitcoin) or – in some cases – as the very altcoin with which you’ve deposited.

However, you cannot deposit using credit/debit, bank wires, or money orders and then have your gambling operator apply that USD to your betting wallet as cryptocurrency.

As an added perk, all the best sites finally allow their members to claim payouts using any available option regardless of the deposit method employed.

For example, you now can deposit via credit in USD and claim Bitcoin payouts or other crypto payouts!

All national and regional US banks “allow” online gambling in the sense that you don’t have to worry about these banks barring your access to the pastime.

We’ve never heard of any United States-based bank actively disallowing their services from being used to fund legal offshore betting activities.

However, please remember that the bank card or transfer method you choose must be rated for international transactions.

Yes. The UIGEA law passed in 2006 allows banks to block offshore gambling transactions, but this rarely happens.

In practice, you’ll find your Visa, Mastercard, American Express, and Discover card gambling transfers are interrupted by the UIGEA no more than about 5% of the time (if that).

It’s also important to remember that if your gambling deposit is declined, you’re not in trouble and have done nothing wrong. Just wait a few minutes and try again, or use an alternate payment method (i.e. crypto, vouchers, MatchPay, etc.).

Only at your request. Card services and issuing banks will not actively block transactions to online offshore betting sites.

That said, the UIGEA law may sometimes cause your card-based transactions to be declined, which is why we usually recommend crypto instead of credit/debit.

Usually, yes. Most banks with modern card networks allow members to block specific sites.

If you wish to prevent a particular credit or debit card from being used to fund your offshore gambling account, contact your card’s customer service department or use an associated mobile app to add the gambling site in question to your service blacklist.

Yes. In the USA, gambling winnings are taxed (minus gambling losses).

Even though you’re participating in legal offshore gambling and not domestic US-based gambling activities, you still need to accurately report your wins and losses when paying your income taxes.  

Yes and no. And, unfortunately, this is largely random.

In America, the IRS isn’t always too keen on processing gambling-related documentation, especially when you’re using your losses to offset any gambling-related gains.

Federally, gamblers are allowed to deduct any gambling losses up to the amount of their gambling winnings, being taxed only on winnings in excess of those losses.

Also remember that state income tax laws differ from state-to-state, so be sure to check with your local tax collector’s rules and regulations to ensure that Uncle Sam gets his full cut.

Note: We are gambling enthusiasts and industry professionals, but we’re not lawyers. Nothing in the above should be considered to constitute actual legal advice.