Now that legalized online sports betting is available in many states, anyone utilizing or planning to utilize this option has some important decisions to make. You not only have a wide choice of betting sites but also many different accepted methods for funding your account and withdrawing your winnings. This article will focus on one banking option you might be considering, American Express.
Compared to other much more widely accepted payment methods such as Mastercard and Visa credit and debit cards, ACH, online banking, and the e-wallet PayPal, American Express is only accepted at a handful of sportsbooks. However, some of the top state-regulated betting sites do accept the American Express card. So, to help you decide if Amex is a good option for you, we will list the pros and cons and name the five best American Express betting sites along with a brief description of their welcome bonus and other special features.
Unfortunately, American Express can only be used to make deposits at select state-regulated online sportsbooks; it cannot be used for withdrawals. Therefore if you choose to use this method for funding your account, you will have to choose a different method for requesting withdrawals.
5 Best Betting Sites That Accept American Express
The following are five top online sportsbooks that accept the American Express card. All of them are state-licensed and regulated, ensuring that they never waver from the strict standards for security and fair customer treatment imposed on them. They also combine a user-friendly website and mobile app with an enormous range of betting options. But wait—there’s more. As icing on the cake, all first-time users start off on the right foot with a generous welcome offer.
Besides these top five sportsbooks, all of which are available in over 20 states, two others we can recommend that accept American Express deposits are Borgata (available in NJ and PA only) and BetRivers (available in 15 states).
#1. BetMGM Sportsbook
- Deposit Limits: Minimum $10, Maximum varies
- Bonus: Up to $1,500 back in bonus bets if your first bet loses
BetMGM offers a very wide range of sports and bet types, making it an excellent choice for novice and experienced bettors alike. However, high rollers will especially appreciate the maximum deposit of $20K, the welcome offer of up to $1,500 back in bonus bets if the first bet loses, and the tiered MGM Rewards program.
Unfortunately, the generous welcome offer only applies if the first bet loses. However, BetMGM also offers lots of other bonuses and promotions for existing customers, including the BetMGM Refer-A-Friend and sports-specific opportunities to earn bonus bets.
In addition, all BetMGM customers are automatically enrolled in MGM Rewards, one of the top customer loyalty rewards programs in the country. All of your sports betting activity on site, along with your expenditures at any other online or offline MGM-affiliated site, count toward earning MGM Reward points (redeemable for comps) and Tier Credits.
The banking options at BetMGM are first class, and as you guessed it, they accept AMEX along with a variety of other deposit options.
#2. DraftKings Sportsbook
- Deposit Limits: Minimum $5, Maximum $10,000 per month
- Bonus: Bet $5, Get $150 in bonus bets
Once exclusively a Daily Fantasy Sports (DFS) site, DraftKings is now one of the top two online sportsbooks in the country. DraftKings caters to all levels of bettors and the sportsbook is available in a wide range of states. On the one hand, serious players whose interests extend to non-mainstream sports and complex props bets will find that this site meets their expectations as well as any. However, DraftKings is also ideally suited for beginners. It is one of the few betting sites with a $5 minimum deposit, and sports betting newbies will welcome the comprehensive material on How to Bet. In addition, the DraftKings iOS and Android mobile apps are rated among the best in the business.
The DraftKings welcome bonus changes periodically, the current offer is to bet $5 and get $150 in bonus bets. Special promotions for existing players include the DraftKings Refer-A-Friend program and sports-specific profit boosts.
DraftKings Sportsbook does accept American Express and several other deposit methods. Should you land a winner, they are also one of the fastest payout sportsbooks available.
#3. FanDuel Sportsbook
- Deposit Limits: Minimum $10, Maximum $10,000
- Bonus: Get up to $1,000 in Bet Resets
FanDuel is very similar to DraftKings, both in its history as a DFS site and in the much broader range of services it provides today as a premier online sportsbook. FanDuel is DraftKings’ chief competitor, with the two betting sites duking it out month after month for the coveted No. 1 spot. FanDuel sportsbook is available in over 20 states and is always one of the first names to launch when a new state legalizes betting.
FanDuel’s coverage of betting markets and types of bets is as extensive as you will find anywhere, yet the site is easy enough to navigate for beginners. Superior mobile apps are another big plus. Fanduel’s iOS and Android mobile apps have higher average user ratings than any other sports betting app on the market.
This sportsbook is noted for changing welcome offers frequently and has excellent special offers for existing customers, including a Refer-A-Friend program and daily profit boosts.
FanDuel especially caters to fans of same game parlays (SGPs). Customers can take advantage of FanDuel’s exclusive SGP+ offering where they not only create their own SGP but add components from other games to the same bet.
Customers of FanDuel will find one of the widest choice of banking options available, including PayPal, Visa & MasterCard, and yep, you guessed it, American Express.
#4. Caesars Sportsbook
- Deposit Limits: Minimum $10, Maximum varies
- Bonus: Bet $1 Get a 100% boost on your next 20 bets
This highly recognizable brand with an international presence and an excellent reputation is another solid online sports betting choice. Currently, Caesars Sportsbook accepts American Express in select states only, but more are expected soon.
The current welcome bonus is different from the previous one, which was contingent on the first real money bet losing. Caesars also has many special offers for existing customers, including Caesars Refer-A-Friend bonus, parlay profit boosts, and prize drawings.
Caesars is also one of the few betting sites to offer NFL live streaming and the only one to offer Fire Bets. The latter are live bets with near-immediate feedback. However, the one feature that above all else makes Caesars a standout betting site is its multi-tiered player’s loyalty program, Caesars Rewards. All of your real money bets at Caesars Sportsbook count towards earning both Reward Credits (redeemable for comps) and Tier Credits, which get combined with the Reward Credits and Tier Credits you earn at any other participating Caesars Rewards site.
#5. Fanatics Sportsbook
- Deposit Limits: Minimum $5, Maximum varies
- Bonus: Get up to 10x $100 in FanCash
Prior to the acquisition and rebranding of PointsBet Sportsbook in 2023, Fanatics was a well-known online retailer of sports memorabilia. Its late entry into the crowded online and mobile sports betting industry notwithstanding, Fanatics Sportsbook has quickly emerged as a major player.
Whereas the welcome bonus at most sportsbooks is given only after the first deposit and wager, Fanatics has a unique offer that extends for 10 consecutive days. After that, existing customers can take advantage of other special offers such as SGP profit boosts and a Refer-A-Friend bonus.
The Fanatics rewards program is also unique. Bettors receive a percentage of their wagers back, which can then be used either for bonus bets, to unlock profit boosts, or to purchase Fanatics sports memorabilia online.
Unfortunately, at this time, Fanatics only supports mobile betting; you cannot use the website to bet. However, both the iOS and Android mobile apps have received exceptionally high ratings.
If you want a new sportsbook with a good range of banking methods, including AMEX, you can do a lot worse than giving Fanatics a try.
Pros and Cons of Betting with American Express
| Pros | Cons |
|---|---|
| One of the world’s most prestigious credit cards | Harder to get than Mastercard or Visa; requires excellent credit |
| Fast, safe, and convenient; sportsbook deposits are credited instantly | Only a few US sportsbooks accept it |
| Initial deposits are eligible for a generous welcome bonus | Amex cards cannot be used for withdrawals |
| Mobile friendly |
Things to Consider with American Express Betting Sites
As you can see, there are both advantages and disadvantages to selecting American Express as a sports betting account payment method. High on the list of advantages is that the level of security is outstanding. However, your account can still be compromised if you do not pay the same careful attention to the quality of the betting site.
Keep in mind, too, that sports bettors are a very diverse group, so some sites might be a better fit for some players than others. Your bankroll, average bet size, style and frequency of play, and preferred sports and types of bets are just a few of the variables you will need to consider in picking one sportsbook over another.
For starters, instead of choosing any random sportsbook, only sign up with state-licensed and regulated sportsbooks where you can place bets for real money legally. You do not necessarily have to live in the same state as the sportsbook, but you do need to be physically located in that state at the time of play. You also need to be at least 21 years of age.
Avoid signing up with any offshore shore operators simply because they accept American Express cards as a means of payment or offer a large welcome bonus. You are taking a big chance, and if the sportsbook absconds with your money, you have no means of protection.
How to Find the Best American Express Sportsbook for Your Needs: Specific Things to Check
The recommendations of our experts and/or your own research should leave you with a shortlist of possibilities. You will then need to compare how they each stack up on different important factors to help you make the best final choice.
Check to make sure the site’s deposit and withdrawal limits, welcome bonus, and depth of sports market and bet types coverage all work for you. The best sportsbooks not only have a good welcome offer for first-time users but also a variety of accessible ongoing bonuses and promotions for existing customers. In addition, they do not just cover and offer competitive odds on the most popular sports but also accept bets on many other sports and sports leagues.
Look for popular special features, too, such as same game parlays (SGPs), live betting, live streaming, and early cashout. Does the site offer a loyalty rewards program and special perks for high rollers? Another important consideration, given the enormous popularity and convenience of mobile betting, is the quality of the site’s iOS and Android mobile apps. Particularly if you are new to sports betting, you will need a user-friendly website and mobile app and high-caliber customer support.
Setting Up an American Express Account
If you do not already have an American Express card but would like to get one, applying is quick and easy. However, the standards are higher than for Mastercard and Visa. You need to have good credit to be approved. Here are the steps to follow.
- Visit American Express online. Click on Apply, and apply for a Standard, Gold, Platinum, or Centurion card. Be sure to apply for a personal account, not a business account.
- Complete the application with the requested information.
- If you are approved, you will receive a card in the mail. Follow the instructions to activate your card.
Betting with American Express Online
Once you have an American Express card, before you can place bets with it, you will need to choose and open an account with a sportsbook that accepts Amex as a payment method. Here are the simple steps you need to follow:
- Visit the homepage of the sportsbook you have selected and click on Sign Up or Join.
- Complete the registration form with all of the requested information (i.e., full name, email address, SSN, mobile phone number, etc.)
- Complete the two-step authentication process if requested.
- As soon as your account is opened, visit the cashier, click on Deposit, and select Amex from the various payment options listed.
- Provide the information requested: full name, account number, expiration date, and the amount you wish to deposit. Then confirm the transaction. The money will be credited to your sports betting account instantly.
- Locate the sport and game you wish to bet on and complete and submit your bet slip.
- Don’t forget to claim your welcome bonus!
Cashing Out Your Winnings from American Express Betting Sites
Because American Express can only be used for deposits, a different method must be selected for withdrawals. Two possibilities are ACH and Online Banking. However, processing can take several business days. A faster method, but not available at all online sportsbooks, is to make a cash withdrawal at the cage of the affiliated retail sportsbook or casino. Venmo is another popular withdrawal option, but typically, it can only be used for withdrawals if it was also used for the last deposit.
The procedure for requesting withdrawals is as follows:
- Visit the Cashier and click on Withdrawal.
- Select the method you wish to use.
- Enter the amount.
- Confirm the transaction and submit your request.
Welcome Bonuses Using American Express
First-time users making the initial deposit with American Express are eligible for the sportsbook’s welcome offer. Terms vary, but typically, the offer comes in the form of bonus bets. Only the winnings from these bets are cashable, not the bonus itself.
American Express vs. Other Sportsbook Banking Methods
American Express is a fast and secure method for depositing money at the handful of sportsbooks that accept it. The negatives are that it requires good credit, the company charges cash advance fees for each deposit, and the card cannot be used for withdrawals. Visa, Mastercard, ACH, PayPal, and Skrill are some also imperfect payment methods that compensate for the shortcomings of using American Express.
FAQs
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Can I use American Express to make deposits and withdrawals at my favorite sportsbook?If your favorite online sportsbook accepts American Express, and only a few do, you can use it to make deposits but not withdrawals.
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Is American Express a safe way to deposit funds for sports betting?Yes, Amex is one of the safest methods available. Advanced encryption technology and added protection against fraud ensure the security and privacy of your account.
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What is the minimum deposit using American Express?While the minimum deposit varies, it is usually $10. However, at DraftKings and Fanatics, the minimum deposit is only $5.
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Can I get a bonus for depositing with American Express?
Yes, first-time users are eligible for the sportsbook’s welcome offer.
