Payouts and Deposits could be the most important component of a sportsbook. If players can’t easily deposit they will go somewhere else and if a player need to be paid quickly or they will move on. Sportsbooks like Bovada know this and keep it a top priority in their business plan.
My personal experience with Bovada
Background: I have used Bovada since 2004 (was Bodog from 2003-2011 on 12/14/2011 Bodog created Bovada to handle their US customers) and I only had 1 problem in those 10 years. In March 2011 (I actually looked the date up in my email!) I had a check payout bounce. I emailed support and they issued me a new check and covered my bank fees for the returned check. I received that check 3 days later.
I am sure I have easily received over 100 payments over those years (full disclosure – some of it was for marketing their site on a poker related website I used to own and they paid to my player account). In 2012 I did try to move from receiving checks to bank wires, but the Bovada payment processor at the time did not play nice with my bank 🙁 . I have always received my checks quickly (within a week) and have basically had no issues – and that’s the reason I am pretty loyal to Bovada!
Our Latest Payout Updates
- August 2017 – Still using bitcoin for deposits & payouts with no issues at all.
- March 2017 – Still receiving payouts with bitcoins and speed ranges from 20 minutes to 28 hours. So speed definitely varies, but overall is a million times better than waiting 3 weeks for checks and then taking them to the bank..
- April 2016 – I finally made the move to using bitcoin for all my betting. After you get all set up, it’s fast and very very inexpensive.
- January 2016 – Still receiving bank wires around the 5-7 day mark. Their checks were really slow in December 2015.
- April 2015 – My bank wire was received 6 days after payout request.
- December 2014 – I tried a bank wire (with my same bank acct that was denied in 2012) and success! I also received a wire in Jan 2015 with no issues. All Bovada wires are now sent in Euros and converted to USD by your bank. My bank just charged a $15 incoming wire fee. There was no fee by Bovada and somehow with the currency conversion my actually amount received was about $50 higher than my cash out amount – bonus!
Let’s take an in-depth look at the Bovada payout and deposit options along with the current fees.
Fee: $50 or it can be your 1 free monthly payout
Minimum Payout: $100
Limit: $3K every 7 days
Speed: 10 business days
Minimum Payout: $20
Limit: $9,500 every 3 days
Speed: 15 minutes
So basically, 1 free Bovada check payout a month or unlimited free bitcoin payouts all month long.
Min Deposit: $20
Fee: varies by the money transfer service
Min Deposit: $100
My Deposit Example
I made a small credit card deposit for this article, so I could see all the current deposit and payout fees and options. I was presented with the 3 deposit options that are listed above. I went for the quick and easy credit card deposit.
I easily deposited $90 which was $94.41 with includes the standard 4.9% bovada fee for credit card processing. I don’t love the fees (and other books like BetOnline don’t have cc fees), but I don’t think it’s outrageous and I like the fact that they are not hiding it, it is clearly stated on the deposit screen. I lacked out my personal deposit information.
The whole deposit process took 30 seconds and then I had an extra $90 in my account and ready for some NFL betting this weekend!
If you have any questions about Bovada deposits or payouts, contact me and I’ll tell you what I know. Obviously, some of the information (like check location), I did not want to put out there in the public.Visit Bovada
Page Last Updated: March 22, 2017