Zelle is one of the newest advertised deposit methods for online sportsbooks at several top offshore sites, and it’s sure to become a popular option in the online gambling industry.
There are several ways you can deposit into your betting account of choice, with credit and debit being the most common. However, Bitcoin (BTC) and other cryptocurrencies are growing in popularity, thanks to their bigger bonuses and fast withdrawal times.
It’s to the Bitcoin deposit method that Zelle truly applies. Zelle isn’t itself a direct funding option for offshore sports betting sites. That is, you can’t send money directly to a bookmaker using the service.
Instead, Zelle is a quick, easy, same-day way to purchase Bitcoin, which you can then use to deposit at any betting site you wish. Further, you can often take full advantages of all the best sports betting bonuses when using Zelle-to-BTC to fund your account.
What Is Zelle?
Essentially, Zelle is PayPal without all the restrictions and censorship that PayPal has become known for. Zelle was developed by a consortium of US banking institutions, and it acts as a digital version of cash.
Most bank customers in America have access to Zelle, and they can use it to send money directly from their linked checking or savings accounts to friends, acquaintances, and sellers of various goods and services.
It is important to note that while Zelle is a strictly electronic service, it is not actually a cryptocurrency. Many people ask about Zelle vs. Bitcoin, for example, and that’s an apples-to-oranges comparison.
What Zelle really is, for online sports bettors, is a way to bypass the typical 10-day Bitcoin acquisition phase for immediate BTC access, letting you enjoy same-day sports wagering on the Internet.
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How To Fund Your Sportsbook Account With Zelle
This is where things can get a little bit involved, because you aren’t actually funding your sports betting account with Zelle. Instead, you use Zelle to expedite the acquisition of Bitcoin. To do this, you will need an account at LocalBitcoins.com, but don’t let that scare you away: LocalBitcoins is an established, trusted peer-to-peer BTC exchange.
Unlike other fiat-to-crypto entry points like Coinbase, LocalBitcoins allows first-time BTC buyers to get their hands on Bitcoin within minutes rather than the typical 10-day wait.
When betting on sports, even if you want to use Bitcoin (especially considering the valuable bonuses that come with it), it’s a deal-breaker if you can’t make your wagers until a week after the games you’re interested in play out. Sports bettors need immediate payment options, and Zelle makes it easy to purchase and pay with Bitcoin ASAP.
Zelle-To-BTC Step-By-Step Instructions
There are a few sportsbook sites (i.e. Bovada) that currently offer Zelle as a specific option in their deposit menu. If you select this, Bovada will guide you through a series of steps to help you get your account funded via Zelle.
That said, even if your favorite book doesn’t advertise Zelle support directly, you can still go through the following process to use Zelle to make fast BTC deposits.
- Sign up at one of the best sportsbook sites, as recommended here.
- Ensure that your bank offers Zelle support. You can find this information at your online banking portal or through your mobile banking app. Alternatively, download the Zelle app for iPhone or Android.
- Sign up for a free account at LocalBitcoins.com.
- Use Zelle to send USD to any private BTC seller on LocalBitcoins.
- Once you receive your BTC in your LocalBitcoins wallet, log into your sportsbook and select the Bitcoin deposit option. Make sure you select any Bitcoin bonuses you’d like to claim at this time.
- Your sportsbook will provide you with their Bitcoin wallet address. Using your LocalBitcoins wallet, send whatever amount of BTC you’d like to deposit to your sportsbook’s wallet. The transaction should take 5-15 minutes, depending on network activity.
- Once your BTC transfer goes through, your sportsbook will convert the cryptocurrency back to USD per the current market rate, crediting that amount to your account.
- Now you’re ready to bet on sports! (Just not the Dolphins. Never bet on the Dolphins.)
Best Reasons To Use Zelle
There are a number of excellent reasons to use Zelle, the best of which is the fact that – via LocalBitcoins – it’s the fastest way to get access to BTC. Of course, that’s not the only reason, as each of the following Zelle benefits is important for online sports bettors:
Fastest Way To Buy Bitcoin – Zelle is the fastest way to purchase Bitcoin. Buy-in sites like Coinbase require most customers to wait up to 10 days in order for their BTC to be credited, but with Zelle-to-BTC via LocalBitcoins.com, you can get your crypto in just a few minutes.
Secure Product Backed By US Banking Industry – Zelle is a cooperative product/service developed by several major US banks. As such, each Zelle transfer is initiated from behind state-of-the-art firewalls and uses cutting edge security measures to guarantee a safe user experience.
Works Just Like Cash – Zelle is basically an electronic metaphor for cash money. That means that when you send someone – or some company – a Zelle payment, it’s like paying them in cash. Your bank will not curate the deal or block the transaction, which increases your overall privacy, as well.
No Added Fees – While partner or member banks are technically allowed to charge transfer fees when their customers send or receive money with Zelle, they have mostly chosen to forego this, effectively making Zelle a free transfer platform.
Millions Of Users – There are nearly 30 million active Zelle users in the US, and because most people with a mainstream bank account can use Zelle at any time, that number is – at least potentially – much higher. The more people that use Zelle, of course, the more useful the service can be in the long run.
If you’re looking for Zelle bonuses at your favorite USA sportsbooks, you won’t find them. Not exactly, anyway. However, because Zelle is a way to quickly buy BTC, you are eligible for your site’s Bitcoin bonus options when depositing through the Zelle-to-BTC method.
For the best sportsbook bonuses, you can’t go wrong with Bitcoin, as the cryptocurrency almost always gives you the most bang for your buck when it comes to perks and rewards.
Please note: If your sportsbook (i.e. Bovada) has a dedicated Zelle deposit method, you will not be eligible to receive the site’s standard BTC bonuses should you choose this option. While you still have to use LocalBitcoins.com and deposit in BTC, you will only get the standard bonuses on offer.
In order to bypass this oversight, you should avoid using the “direct” option and simply use Zelle to purchase Bitcoin and make a standard BTC deposit per the above instructions.
Zelle Sportsbook Deposit FAQs
How do I sign up for Zelle?
There isn’t much involved in signing up for Zelle. If your bank supports the platform (and it probably does), you simply attach an email address or phone number to the Zelle option on your computer or mobile banking app. You can also install a dedicated Zelle app if your bank does not already include the option in its online portal.
Which banks support Zelle?
There are hundreds of US banks that support Zelle. The service was developed by Bank of America, BB&T, Capital One, Citibank, JPMorgan Chase, PNC Bank, US Bank, and Wells Fargo, with several other partners as well. If you belong to any of these banks or their subsidiaries, you already have access to Zelle.
Do non-USA sportsbooks accept Zelle?
Unfortunately, Zelle is a US-only product. This is why you can’t simply use Zelle to deposit directly into your offshore sportsbook of choice. It’s also why you can’t get dedicated Zelle bonuses.
However, because of the simple Zelle-to-Bitcoin process, you can deposit with BTC at your sportsbook of choice, and you can get access to all their Bitcoin bonus offers, too.
Can I use Zelle for live betting on sports?
Any online sportsbook that accepts Zelle-to-BTC payments will also allow you to live bet on a number of games each and every day. While not every single contest will feature in-game wagering, most of the marquee matchups and major league games will offer plenty of live betting options.
Can I use Zelle with my mobile sportsbook site?
Betting via mobile is extremely convenient, and so is using Zelle. If you have a modern smartphone or tablet, you can download the Zelle app or use your banking app to access the service and start the Zelle-to-crypto process at LocalBitcoins.com.
From kicking off Zelle-to-Bitcoin purchases to funding your account with that Bitcoin to actually betting on all the games of the day, you can do it all via your iPhone, iPad, or Android device.
Is Zelle right for everyone?
Zelle is pretty great, and it’s the best way to buy Bitcoin with no wait, but it isn’t right for everyone. If you don’t want to wager using Bitcoin deposits, for example, Zelle is of no use to you.
Similarly, if you’re unwilling to add another Internet account (LocalBitcoins.com) to your online repertoire, then Zelle isn’t the best solution. Other than that, if your bank offers the service, there’s no reason not to use it to enhance your online sports betting experience and boost your bonus bankroll.
Can I claim my sports betting payouts with Zelle?
Unfortunately, no. You cannot claim your sports betting payouts or withdrawals with Zelle because the product is limited to US-based transactions only. Since the best sportsbooks with the best bonuses are all located offshore, they do not have the ability to initiate Zelle transfers to you.
When you use Zelle-to-Bitcoin to wager on sports online, you will be paid out in Bitcoin directly (which will be sent to your LocalBitcoins wallet or any other crypto wallet of your choosing).
Are Zelle rollover requirements different than other bonus options?
As there are no specific Zelle bonuses, there are similarly no specific Zelle rollover requirements. Instead, when depositing via the Zelle process outlined above, you will either be able to accept a standard bonus or an enhanced Bitcoin bonus. The rollover rates involved with these options are clearly outlined at your sportsbook site.