Online Sports Betting: What To Look For When Choosing a Low Minimum Deposit

Mark Saldana | Oct 6, 2020

When you are online sports betting, a good rule of thumb is to try to find a website that offers a low minimum deposit.

Maybe you’re new to online sports betting. 

Maybe you’ve been paying large deposits and losing more than you’d like at the end of the day.

Whatever your reasoning, finding an online sports marketplace that offers a low minimum deposit can be a bit tedious.

Luckily, this guide puts everything you need to know about online sports betting with a low minimum deposit all in one place.

After reading, you’ll know:

  • The pros and cons of online betting with no minimum deposit.
  • What sites and apps offer low or no minimum deposits.
  • What factors can affect average minimum deposit amounts

betting with a low minimum deposit

Looking For Online Sports Betting With Low Minimum Deposit — Things to Consider

First things first—remember that “low” is a very broad, relative term.

What you consider a low minimum, say $50, could be vastly different from what your buddy considers to be a low minimum (he’s thinking more like $100). 

Starting with a low minimum deposit is a great betting technique, especially if you’re new to the trade.

This allows you to not risk a lot of money upfront and lets you gradually build up the amount of cash you have and hone your betting skills. 

Let’s look at Chris and Oliver:

Chris enjoys sports betting and has been playing betting both for fun and competitively for a few years.

His buddy, Oliver, is new to sports betting. And while he is into it, he has a few reservations, too.

He’s wondering:

  1. How can I be sure a sports betting site is safe and secure? 
  2. How do you improve on your sports betting game?
  3. Can you really make money betting on sports? (The answer is yes).

To make sure you find a secure sports betting site, you’ll want to search for online marketplaces that:

  • Are safe
  • Take good care of your money
  • Protect your personal information

But how can you be sure a website or marketplace checks all these boxes? 

And what about online betting sites with no minimum deposits?

Read on to dive into the pros and cons.

Online Betting With No Minimum Deposit — Should You Be Concerned? 

Betting minimums, if any, can vary depending on the time of year or the specific sporting event.

Some online betting sites allow you to place a bet with no minimum deposit.

If you’re one who just likes to place bets for fun or are working on your trade, an online betting site that offers a no minimum deposit could be right up your alley.

The goal for no minimum deposit betting sites is to make no distinction between:

  • Those who are betting hefty amounts
  • Recreational players
  • Those who are just betting to have fun while learning the ropes of sports betting

The bottom line is, if you do your research into the online betting site before you place any bets, you should be fine.

No one is looking out for you besides you, so if something seems off, it’s worth looking into.

Look to make sure each online betting site:

  1. Has a valid gaming license
  2. Offers quick and reliable payouts
  3. Runs on a secure, encrypted connection 
  4. Offers games from reputable software providers

Pro tip: Keep an eye out for a lock symbol that will appear beside the address bar. This is your key to knowing if an online betting site is secure or not. 

Safe online betting sites and sportsbooks, especially those with low minimum deposits have a lot of pros. Sportsbooks with no minimum deposits allow you to …

  • Become familiar with the site
  • Learn the layout
  • Educate yourself on any special features

… all without risking big bucks.

No Minimum Deposit: Pros

Choosing to use an online sports betting site that offers a zero minimum deposit reduces risk.

Another pro? 

It doesn’t matter what kind of a budget you have — sports betting sites with low or no minimum deposits will let you place a bet without taking big financial risks.

Some online gambling marketplaces require players to stay active in order to keep their accounts operational. 

Failure to stay active can result in small fees being charged to your account.

A no minimum deposit bet paired with a small bankroll will help make sure that your account never goes dormant.

No Minimum Deposit: Cons

As with any gambling or betting platform, there are a few potential cons to online sports betting (even with a low minimum deposit).

A few problems that you’ll need to be wary of when using a new online sports betting site include:

  1. Theft or bets or identity theft
  2. Addiction
  3. Fee gouging
  4. Viruses 
  5. Malware
  6. Rigged games or odds

It will always be worth the extra few minutes to check the online betting site you’re on before you place a bet.

If you’re working with low deposits and small minimum bets, it can be a bit tricky to maximize the efficiency of your bankroll.

You’ll need to establish a plan for managing your bet sizes, and that can take both time and effort.

But, if you’re looking for a few quick tips, keep these in mind:

  • Do your homework
  • Stick to betting on sports you know
  • Log your bets
  • Never assume you’re going to win

Minimum Deposit Costs May Vary Based On Payment Type

Minimum deposit costs can be higher or lower depending on both the betting platform you use, like…

  • Casinos
  • Online sports betting sites
  • Apps 

and the method of payment you choose.

When you go to place a bet, the first thing you’ll need to do before you can start is to make a deposit.

The method you use to make your minimum deposit can greatly affect the required amount you’ll owe.

Generally speaking, there are preferred methods of payments and they are typically the forms that require the least amount of hassle for the sportsbook.

The easiest options for most sportsbooks to process are:

  • Credit cards
  • eWallets

On the flip side …

  • Money transfers
  • Checks 
  • Bank wires 

have the highest minimum deposits simply because they are the biggest hassle for sportsbooks to deal with.

If you use a bank wire or a money transfer to fund your betting account, know that minimum deposits can be significantly higher for either of these payment options. 

Be prepared that you may have to fork over a good chunk of cash, especially if an online bank transfer isn’t an option.

While minimum deposits can be as low as $10 for electronic transfers, don’t be surprised if you’re asked to deposit significantly more if you opt for a more traditional wire service.

It is an industry standard for banking methods to have the highest fees compared to any other deposit method.

Credit Cards

It should come as no surprise that the majority of bettors opt to pay their deposit with a credit card.

Expect to pay anywhere from $10 to up to $100 for a deposit with a credit card.  

The good news is that most sportsbooks will have a low minimum deposit for credit card payments because it’s the most popular (and most convenient) way for bettors to fund their accounts.

eWallets

eWallets allow you to store your credit card or bank account numbers in a safe, secure environment and use that account to make payments.

eWallets include services and apps like…

  • PayPal
  • Neteller
  • Skrill
  • And more

When you use an eWallet account to pay your minimum deposit, your payments are received much faster.

Another perk to using your eWallet to pay? A number of sportsbooks have no restrictions on deposits made using eWallet services. 

It’s important to know that if you use an eWallet to pay your minimum deposit, you may also be required to use the same eWallet to make withdrawals if and when the time comes.

Cryptocurrency

But what about if you pay with cryptocurrency? 

A cryptocurrency is a digital asset designed to work as a medium of exchange. It typically does not exist in physical form (like paper money) and is typically not issued by a central authority.

Betting with cryptocurrency is a luxury for those who sign up with betting marketplaces like ZenSports.

There are numerous advantages to paying and betting with cryptocurrency over fiat-currencies.

For example, there are no issues with funds being frozen or lost due to governmental seizure. 

Cryptocurrency transactions are actually much cheaper to process and are hassle-free compared to:

  • Credit cards
  • Bank wires
  • Money transfers
  • Online eWallets

Betting with cryptocurrency also ensures faster payouts and gives you the added bonus of extra anonymity.

ZenSports — How Are We Different? 

When you choose ZenSports for your online sports betting, you can deposit funds instantly using cryptocurrencies or fiat. 

You’ll avoid long wait times and bypass deposit fees. 

In the USD wallet, you have four options:

  • USDT Tether
  • Debit Card 
  • Wire Transfer
  • Skrill

We also offer reduced betting fees compared to traditional bookmakers.

ZenSports is a decentralized, peer-to-peer platform where anyone can create and accept bets with anyone in the world without the need for a centralized bookmaker. 

We operate using a trust-less system that lets the marketplace settle bet results and disputes.

ZenSports Cryptocurrency: SPORTS 

On top of betting with Bitcoin or fiat (USD), ZenSports also offers its own cryptocurrency utility token called SPORTS that you can use to both place bets and pay fees with. 

When you place bets with SPORTS, you will:

  • Pay discounted betting fees.
  • Get cash back for reaching certain betting volumes; and 
  • Earn bonuses for performing other actions. 

You can also deposit and withdraw SPORTS to and from your ICONex wallet whenever you want. 

When you deposit funds into ZenSports using either Bitcoin or USD, you can then choose to exchange those funds into SPORTS via our Exchange feature. 

You can use ZenSports’ SPORTS utility token to:

  • Place bets 
  • Qualify for awesome discounts
  • Redeem cash back rewards
  • Score bonuses
  • Other perks

Some of our promotions and bonuses that are available when you bet using SPORTS tokens are: 

  • Lower betting fees — Typically, the standard betting fees in ZenSports are 2.5% as the Maker and 5% as the Taker. But when you bet in SPORTS tokens, you’ll benefit from 1% as the Maker and 2.5% as the Taker. 
  • Lower dispute escrow fees — The standard dispute escrow fees in ZenSports are 10% as the Maker and 5% as the Taker. When you bet using SPORTS tokens, only a 5% dispute escrow fee will be withheld as the Maker and only a 2.5% dispute escrow fee as the Taker. Major savings! 

 

  1. Cash back bonuses — When your betting volume reaches a certain tier, you can qualify for cash back. On top of saving lots of money in betting fees compared to traditional bookmakers, reach a certain tier and we’ll give you money just for placing bets!

Minimum Deposit Requirements

Want to place bets and enjoy the lowest betting fees? 

Just download our app!

ZenSports is available for download in both the App Store (iOS) and the ZenSports website (Android).

Download the ZenSports app for Android or iOS