MoneyGram, one of the world’s largest money transfer platforms was founded in 1940 and has grown over time with offices in 194 countries and over 256,000 agent locations. While they offer a variety of financial services, we’ll focus on the use of MoneyGram as a deposit option for your online gambling accounts, the gambling sites that accept this payment method, and the pros and cons of utilizing MoneyGram as a deposit option.
The demand for MoneyGram as a method of payment on online gambling sites took a hit as a result of the arrival of cheaper alternatives like cryptocurrencies – Bitcoin, Ethereum, Litecoin. And as such the use of MoneyGram to deposit and withdraw money is not entirely the most popular method on online gambling sites, but due to its flexibility and security, many operators offer them as an option to players.
Recall that transactions done using MoneyGram were entirely physical via the use of local MoneyGram agents. However, MoneyGram evolved in a bid to compete favorably with the alternative methods. A player can now transact online on their favorite online gambling site using MoneyGram.
This method of payment is often utilized by large betting companies that offer an array of real money products with the necessary manpower to process payments made via MoneyGram. Examples of online gambling sites that accept MoneyGram as a deposit option are; Bovada, BetOnline, TopBet, MyBookie, BetNow, BetUS, SuperSlots, GT Bets, 5Dimes, BetDSI, Wild Casino, e.t.c.
The Pros of Using MoneyGram
One of the reasons you might choose to use MoneyGram as a deposit option on an online gambling website is its flexibility. It allows you as a player to deposit money whichever way you deem fit. If you have the cash at hand, it gives you the option of depositing the cash directly into your account by using one of their agents. If you have the money in your bank account, it also allows you to deposit directly from your bank account.
Another benefit of using MoneyGram is the fact that it allows you to deposit money into any gambling website independently of your bank, who most likely will not process any transaction linked with online gambling.
Sending money via MoneyGram is entirely safe and secure as your bank details are not revealed to the gambling website. This will limit the possibility of your bank details falling into the wrong hands.
Cons of Using MoneyGram
The major issue with using MoneyGram for deposits on your gambling website accounts is the speed of deposits. While some other methods guarantee an instant deposit, there exists a delay with this method as payments are processed manually. This in turn translates into high payment processing fees that are incurred by the player and not the operator.
For those looking to exploit the high-value welcome bonus given by most online gambling websites will be at a loss using this method as deposits have a low maximum limit. It is also paramount to note that while some online gambling websites accept MoneyGram as a deposit option, not all offer it as a payment method for withdrawals.