You’re thinking about joining one of the many great betting sites in the world, but are you aware of all the deposit rules awaiting your arrival? All online bookmakers will have rules regarding your deposits and how you can fund your account; some of which are extremely important to know about.
You don’t want to end up on a site with terrible rules and no way of getting around them. It could mean you spend more money than intended or end up with all kinds of problems. What are the biggest deposit rules to be aware of? Scroll down to find out…
Minimum Deposit Amounts
The “minimum deposit” is the lowest amount of money you can fund your account with. You will see betting sites with low deposit requirements and bookmakers with exceedingly high deposit requirements. It varies between operators but you’ll always be at an advantage when the minimum deposit amount is low.
How does this benefit you? A lower minimum deposit means you don’t have to spend as much money as you would at another betting site. Imagine you have two platforms and one has a £10 minimum deposit while the other has a £35 one. You’re spending over three times as much just to fund your account!
What do we usually consider a “low” deposit requirement? Generally, anything from £5 – £15 is in the “low” range. £20 is an interesting one as it sits on the border while anything from £25 up is considered a fairly high minimum deposit.
Maximum Deposit Rules
Knowing a betting site’s minimum deposit is key as it helps you save money. On the other hand, you can’t neglect the maximum deposit rules. The interesting thing about this is that it refers to two things:
- The most amount of money you can deposit on the site
- The frequency with which you can deposit your money
Some bookies don’t have maximum monetary limits in that you can add as much money as you want, whenever you want. This can be good – but having a maximum limit also curbs your spending by restricting your gambling habits. Research from Nottingham Trent University backs this up by showing that limit-setting has a statistically significant effect on high-intensity gamblers. Betting sites will sometimes have a maximum limit per transaction as well as a maximum limit for every week and month to further cap your spending.
As for the maximum deposit frequency, bookies might put restrictions on how many deposits you can make every 24 hours. We don’t see this too often, but it’s something to keep an eye out for when joining a site. You don’t want to join a platform only to realise it doesn’t let you fund your account more than once every 24 hours – that’s a tad too restrictive.
Deposit Wagering Requirements
Some deposit rules are easy to spot and are clearly outlined by the betting website. This includes your minimum/maximum limits, which typically get put on a FAQ page somewhere. Deposit wagering requirements are one of many rules hidden away in the Terms & Conditions. It’s a rule the site almost doesn’t want you to see as it can deter you from joining the site.
Find any “hidden” deposit rules by following these steps:
- Click on a betting site’s Terms and Conditions
- Hit CTRL + F to bring up a search box
- Search for “deposit” and you’ll instantly see every instance of this word on the page
- Click through each instance and make a note of all the rules mentioned
This will help you find the deposit wagering requirements (sometimes called playthrough requirements). Like the maximum limits, this rule isn’t present across 100% of sites. When it is seen, it means you have to use your deposit before it can be withdrawn. Specifically, the entire amount must be wagered or you can’t withdraw any winnings.
It’s not the worst rule in the world – most people will bet their entire deposit anyway – but it is something to be aware of as it can catch you off guard. Knowing if you need to wager a deposit once or twice over can influence how much you deposit in the first place. For example, you’re less likely to deposit £100 instead of £50 if you need to meet wagering requirements.
Fees Relating To Deposits
Of all the deposit rules we’ve gone through, this one cannot be ignored. It’s the rule that affects you the most as you may have to pay money for every deposit. Look through all the T&Cs to spot any mention of deposit fees. Some sites hide these in small print and can charge a percentage for every transaction. There’s nothing you can do about this as they’ll say “Well, you should’ve read the terms and conditions!”.
Ideally, you don’t want to join a betting site with deposit fees. Double-check things by speaking to customer support before depositing as well. If you receive clear evidence that the site does not charge fees, you know it’s safe to start adding money.
Always look for these big deposit rules before you add funds to an online betting website. You don’t want to be caught out by annoying things or spend more money than necessary. If you enjoyed this post, check out our popular articles for even more content!
