BetMGM
BetMGM Payment Methods 2024 – Simplified Guide for Deposits and Withdrawals
Updated on 12/21/24
Last Updated:
BetMGM has turned into one of the most reliable and professional sportsbooks on the market by using innovative tactics and focusing on its users. One way they are doing that is by offering various BetMGM payment methods for people to use.
Our article explains the available payment options and their benefits, providing detailed, step-by-step instructions on how to use them. If you are already familiar with deposit and withdrawal methods, you can read our highlights on the BetMGM sportsbook to start betting.
Let’s Get Started – BetMGM Deposit Options
There are more than enough BetMGM deposit options to pick from. While testing things out, we found out that each one is unique in its own right. Therefore, when picking one, you should make sure that it fits your primary needs.
Here are the options available to you.
- Cards: Visa and Mastercards are both accepted BetMGM debit cards.
- Discover: Both debit and credit Discover cards are accepted, incurring no added fees.
- PayPal: A popular method to make a deposit.
- Online Banking: Make a secure deposit with the help of PayWithMyBank.
- Apple Pay: BetMGM Apple Pay is a secure way to make a payment using an iPhone, iPad, Apple Watch, or Mac.
- VIP Preferred: Helps to move funds directly from your bank account to the operator.
- Play+: Link your debit, credit card, or bank transfer to a BetMGM play+ card account.
- PayNearMe: Pay with cash at local stores.
- Bank Wire Transfer: An electronic payment service.
- Game On: A pre-loaded sports betting card.
How to Deposit – Step By Step Instructions
A BetMGM transaction is something that you are going to have to learn how to do if you are going to become a regular user of the platform. Luckily, it is not hard at all to complete and involves doing the following.
- Log in to your BetMGM account.
- Go to the deposit section.
- Pick one of the payment options available.
- Fill in all the necessary information.
- Add the amount you wish to fund your account with.
- Confirm your transaction.
Time to Collect – Withdrawal Options
Compared to deposit methods, we actually noticed that there are fewer BetMGM withdrawal methods available. This is definitely not something bad, but it can be a bit frustrating for those who want to add and withdraw funds using the same method. Nevertheless, there are more than enough options and our thoughts are that one can always find an alternative method that suits your needs.
- Venmo: You need to add funds via Venmo first in order to withdraw.
- Play+: Can be completed in a few simple steps.
- Apple Pay: A secure method for those who prefer using iOS-operated products.
- Cards: Visa Direct Payouts are available to eligible customers. However, Mastercard, AMEX, and Discover cards cannot be used for withdrawals currently.
- Instant Banking Transfer: Some banks charge NSF fees.
- VIP Preferred: Offers expanded options.
- PayPal: Transferring money from BetMGM to PayPal requires you to have made a deposit first.
If you’re exploring withdrawal methods, see what DraftKings provides for easy payouts.
Withdrawal Processing Times- Understanding Payout Delays
You need to understand that each BetMGM payment method is different. Änswering the question “How long does BetMGM take to deposit?” is easy, as most transactions go instantly. However, things are a bit different when it comes to withdrawing your funds.
We went through each method individually and determined the BetMGM payout time.
| 💵Payment Options | 🕖Duration |
|---|---|
| Visa | Within 24 hours |
| Mastercard | 1-3 business days |
| PayPal | Within 24 hours |
| Venmo | Within 24 hours |
| Apple Pay | 1-3 business days |
| VIP Preferred | 2-4 business days |
| Online Banking | 2-4 business days |
| Instant Banking | 2-4 business days |
| Play+ PrepaidCard | Within 24 hours |
Deposit and Withdrawal Limits
While conducting our review, we have encountered a few situations that may cause problems for users either when making a deposit or a withdrawal. The most important part is that you have to verify your account if you want to move funds away from your balance. This process takes 24 to 48 hours to complete after submitting all the documents.
You either need to be patient, or contact them to see if there are any problems with the verification. Also, each method comes with its own BetMGM minimum deposit and withdrawal. If your deposit is rejected, you should review your transaction and adjust it if needed.
There have also been situations where users tried to complete multiple withdrawals in short intervals. This may trigger an internal review process. So we suggest that you complete one transaction before making the next one in order to avoid this type of problem.
Weighing the Options: Pros & Cons of BetMGM Payments
We now present to you our honest BetMGM pros and cons which will allow you to get our full impression of the transaction process.
| ✅ 👍 What We Like | ⛔️👎What We Don’t Like |
|---|---|
| Comes with a diverse cast of payment options. | Mastercard, AMEX, and Discover cards cannot be used for withdrawals. |
| Most deposit methods are processed instantly. | Potential NSF fees depending on the user’s banks. |
| Easy to use interface for deposits and withdrawals. | Some withdrawal methods can only be used after you made a deposit with the same method. |
| Security is guaranteed with the brand. |
Final Thoughts
Our thoughts on the BetMGM payment methods are largely positive. They do have some kinks that they need to work out. But overall, the experience was really good. We like the interface and the speed in which the transactions are made. But we were not really happy with some of the limitations that exist. Nevertheless, we are of the opinion that all of them will be addressed, and you still have a lot of payment options to pick from.
BetMGM Payment FAQ: Get Your Answers Here!
For a full overview of the payment options, check out some added questions and answers below.
You should wait for one transaction to be completed before requesting another in order to avoid complications.
Unfortunately, no. The brand does not support crypto payments.
You have to contact the customer service to see if you are eligible for a refund.
Absolutely no. You have to use your own card as your identity needs to be verified.
You need to submit the necessary documentation after creating an account. Make sure to use a document with the exact info you used to create your account.
