Funding Your Kentucky Derby Racebook Account

One of the more technical aspects of being a horseplayer in the modern era is finding out what works for you in terms of funding your Kentucky Derby racebook account. There are several factors to weigh in mind as you consider your options: you should always prioritize timeliness, as there is no point to picking winners if you miss the cut off at post time because your funds are not ready in your wagering bankroll. Then there are also security and in some cases the legality of the deposit method in your particular state to consider, and, again, there is no point to filling out a betting slip whether in person or online if you aren’t sure your money and your critical sensitive information are not secure.

All this is a ton for even the sharpest veteran bettors to work out, and the confusion can really wreak havoc on the fun that can be had by betting on the Kentucky Derby. That’s where our guide to funding your Kentucky Derby racebook account comes in. We aim to provide experienced returning horseplayers and complete newcomers with relatively all the information you will need to get started placing wagers on “The Most Exciting Two Minutes in Sports.”

Derby Day will be here and gone before you know it, so don’t miss out on any of the action waiting around for your deposit to go through. Read on for all the details on the racebook deposit methods we think are going to be your best bet this year in terms of speed and security, and we’ll also take a look at maximum and minimum deposits as well as any applicable deposit fees.

When it comes right down to it, the first concern horseplayers have when gearing up to bankroll their wagering account at a legal Kentucky Derby racebook site is the time element, and the faster the better. Just how fast can a transaction be safely completed so that your money is loaded in your Kentucky Derby wagering account and ready for post time? Well, it depends on the option you choose for adding funds to your account.

Generally, the fastest Kentucky Derby racebook deposit methods are going to require a little extra work on the front end, but the dividend that pays off is quick turnaround on the back end. For example, at legal offshore racebook sites like Bovada, BetOnline, and SportsBetting, the fastest (and most secure) method of loading funds into your wagering account is a cryptocurrency such as Bitcoin, Litecoin, Dash or Ethereum. You will have to acquire an amount of these cryptocurrencies first from an exchange, store it in a wallet and so on, so there it will require more steps before you can successful put money in your account. However, the upshot is that the total transaction time will be, on average, only a few minutes from start to finish instead of hours or even weeks like some older methods of making deposits.

Another fast and reliable means of funding your Kentucky Derby racebook account is to select the credit card or debit card option. It was not so long ago that these methods for adding funds would have been unavailable for US horseplayers using overseas sports betting sites due to the restrictions placed on US banks and other financial institutions by the UIGEA. However, legal offshore sportsbook sites like the ones we recommend for our American readers got around this by launching their own in-house credit card processing offices, and today horseplayers everywhere can quickly add funds to their account via this method. All major credit cards from MasterCard to American Express are accepted, though there will be some limited availability for cards of the latter type.

Because the most highly recommended Kentucky Derby racebook sites are based overseas, there may be some deposit fees associated with funding your wagering account, though this is usually a pretty marginal percentage of your total deposit. This is not a case of the betting sites’ operators being greedy, it’s just that there are additional costs of doing business associated with processing payments from overseas accounts. This is a fact of life given the current ban on most forms of gambling over the internet (though those laws could be changed seemingly any day now, given the public’s more widespread acceptance of internet wagering generally and sports betting in particular).

The necessity for Kentucky Derby racebook deposit fees are one of the main reasons we advocate so strongly for our readers to use Bitcoin or some other cryptocurrency to fund their accounts – there are no extra fees tacked on when you bankroll your account with crypto.

If you use a credit card, for instance, Bovada.lv will not charge you a deposit fee on your first transaction, but subsequent deposits will incur, variously, a 5.9 percent fee on VISA and MasterCard transactions and a whopping 9.9 percent fee for American Express deposits. Additionally, your own bank may assess an additional 3 percent fee on top of what the racebook operation needs because you are making a transaction with what are essentially international merchants.

Not many horseplayers these days use cash or check in the mail when funding your Kentucky Derby racebook account due to the time element involved. However, should you decide to go down this route, your bank probably will not charge you an extra fee and the racebooks won’t either. However, there is usually a flat rate currency conversion fee that could fall anywhere between 5 percent and 10 percent of your payment amount. Again, this is a good reason to use cryptocurrency when making a Kentucky Derby racebook deposit.