PayNearMe

Online gambling sites accept more than half a dozen payment solutions concerning deposits. Thus, depending on the betting operator's policies, punters have access to many convenient ways to fund their sports betting accounts. PayNearMe is one of the most common and convenient methods of payment accepted in online betting.

Since its inception, the banking method has effectively processed millions of payments in the US. And since the payment method is so popular, many sports betting sites and apps offer it as an alternative payment method.

It is also essential to know that every PayNearMe deposit to online sports betting operators attracts bonus offers depending on the bookie's terms and conditions. Therefore, this payment method is handy for all bonus hunters.

Sportsbooks And PayNearMe - Overview

The best thing about this payment method is that it enables people without traditional bank accounts to transact online efficiently and effectively. The payment solution was launched in 2009 in the United States.

PayNearMe MT Inc, the payment solution's operating company, is a subsidiary of Handle Finance Inc. Previously, the main idea behind this company was to enable customers to pay for goods at retail stores quickly and easily. However, the payment option gained popularity quickly all over the US.

Currently, it processes billions of dollars annually, and in the United States alone, the company has collaborated with upwards of 27000 retail locations. People use the payment solution to pay for their utility bills, among other valuable services. Transactions done via this banking method are instantaneous, making betting-related payments convenient.

In the US, various states have enacted laws concerning the legalization of sports betting and gambling. The payment solution only supports betting-related payments in the states with legal online betting, such as NJ, Nevada, Delaware, and many others. In addition, bettors use it to make deposits since it is safe, and top-ups are processed immediately.

That said, it is now possible to make a PayNearMe withdrawal from a sportsbook in cash at partner ATMs countrywide.

Deposits and withdrawals using PayNearMe

As already established, punters can use PayNearMe for gambling-related transactions. US punters who do not currently have bank accounts can use it in online betting. Several reputable online sports betting sites in the United States accept deposits via this banking option. But for bettors to fund their sports betting accounts via the payment option, they must ensure the betting operator supports it.

They should also have enough funds since depositing via this option will cost a bettor $1.99 at least. The method is an easy, effective and instantaneous way of topping up a sports betting account.

Withdrawals are also possible, thanks to a recent partnership with Pin4 that allows punters to withdraw cash at various ATMs. Players can use the banking method's Bill Pay app for both cash-ins and cash-outs.

How to deposit with PayNearMe

1. The bettor should log into their sports betting account, head to the virtual banking section, and click on 'Deposit.'

2. From the list of supported payment options, the bettor should select PayNearMe and specify the amount to deposit.

3. Afterward, the bettor will be prompted to enter a bonus code, if any, and click the Generate PayCode button.

4. The bookie will then redirect the bettor to PayNearMe's official site, where they will get their barcode.

5. Finally, the bettor will pay using their mobile wallet, debit/credit card, or bank account. Additionally, the maximum amount a bettor can deposit to a betting account within 24 hours is $500.

Visit PayNearMe's website for more info regarding the features of this payment option.

Safety and trustworthiness

PayNearMe is a trustworthy and safe payment solution that enables customers to make online transactions easily. Since the payment method also allows for cash payments, punters can use it for anonymous online betting.

Further, if a bettor uses it to top up their betting account, the funds cannot be withdrawn without the player's approval, as PayNearMe issues users with receipts for all transactions on the website. If a bettor's funds do not reflect on their betting account, they can prove that the payment was made, and punters can always track their transfers using the provided tracking link.

In addition, the payment option has the latest 256-bit SSL encryption algorithm that protects its users' information from third-party interference. With that said, the banking method has licenses that allow it to offer services in various states across the US, which means that it's fully regulated and has no risk of fraudulent activity.

Pros

• Safety: The payment solution does not require bettors to provide their banking credentials since funds can be added using cash.

• Timeliness: PayNearMe deposits are usually processed immediately to allow bettors to place wagers easily.

• Easy to use: The payment option is not complex compared to other alternative options.

Cons

• Deposit limitations: The payment solution only allows bettors to top up a maximum of $500, which is disadvantageous to high-rollers.

• Works in the US only: PayNearMe is only available to customers in the United States and supports just one currency — the USD.

• Only available in selected sportsbooks: It is not easy to find a betting site that accepts the banking solution

Final verdict - Betting with PayNearMe

As a safe US-based method of payment created to cater to various needs of customers in the country, most punters in countries with regulated online sports betting use the PayNearMe banking method to fund their gambling accounts. That is always attributed to the safety and convenience the payment method offers users. Notably, deposits are relatively speedy.

In addition, the payment solution is ideal for US punters without bank accounts or who don't want to disclose banking information. Even though the payment method charges some fees for various transactions, the tariff fees are relatively low.

However, one thing that needs to change is that PayNearMe cannot be accessed in countries other than the United States. Therefore, bettors outside the US cannot deposit or withdraw from their betting accounts using the payment solution. With that said, these matters are expected to change as time progresses.