Nearly everyone in America has some form of credit or debit card in their wallet, making the method especially convenient when in addition to cost effective. Deposits with credit or debit cards also are instant and funds will be immediately credited to player accounts.
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Which Cards Are Accepted?
Any credit or debit card may work at a sportsbook provided they offer that option and your bank or credit card company doesn’t block the transaction. However, certain cards have higher acceptance rates than others.
Just about every sportsbook online and especially those in US-facing markets will accept Visa. Deposit through Visa cards is how the vast majority of sports bettors fund their accounts in the United States. It’s basically universally accepted and has the highest success rate compared to other cards.
MasterCard is a distant second compared to Visa, but is still accepted at a handful of sites. The success rate with MasterCard on deposits is lower than Visa, and the number of sites accepting MasterCard is substantially less.
Other card types, such as American Express, Diners Card, and Discover are rarely accepted, but may still be available as deposit options for a small percentage of bookmakers.
Type of Card
We recommend bettors use a debit card to deposit at online gambling sites if at all possible. For one, it limits gamblers’ ability to rack up credit card debt because you need the cash in your bank account to deposit through debit card.
The other reason is that sometimes when depositing through a credit or charge card, players can be charged for a cash advance. Cash advances have an extra fee when money is borrowed that can be between 3 to 5 percent. That’s a potential hidden fee that bettors need to worry about.
If Your Card Fails
Due to UIGEA laws, which are discussed more in depth here, banks and credit card companies are forced to block transaction that they know are related to online gambling. For this reason, many deposits at online gambling sites are declined.
If your first try with your debit card ends with your deposit being declined – don’t throw in the towel. There’s a number of potential workarounds for depositing via card.
First, be sure that you’ve entered your information correctly and that your card numbers were accurate. If your deposit is declined, then it’s worth trying another card if you have multiple options.
If that fails, trying your deposit several hours later is a way players may have success. Online sportsbooks use several different payment processors, some at different times of the day. Calling support and trying to deposit with a representative over the phone may help gain you access to other processors.
In most cases, the above steps usually work. Players are able to deposit and fund their account. However, if you’ve exhausted all your personal debit or credit cards – there’s one more option.
Gift Cards and Prepaid Vouchers
Gift cards, specifically Visa gift cards have an extremely high success rate. These cards can be purchased just about anywhere and are available at most gas stations and grocery or department stores.
Prepaid vouchers will also be another option when using you debit or credit card. These are often easily accessible from the deposit menu at many online bookmakers. Greendot Moneypak and EZ Vouchers can be funded with credit or debit cards and then instantly deposited into accounts.
Both of these options are excellent if players don’t have any luck with their personal cards. Even in today’s much maligned market and with banking laws restrictions gambling transactions – there’s almost always a way to deposit using cards at the vast majority of sportsbooks.
As A Withdrawal Option
Personal debit or credit cards are rarely used as a withdrawal option in the US market. But, some bookmakers have been processing withdrawals to personal cards of players that they used to make a deposit. These usually take about a week to process and have a similar fee to requesting a check ($40-$50)
Over the past two years, sites have also sending players debit cards in their names which can be used for cashouts. This method is more common than processing withdrawals to personal cards owned by players and issued by major banks or credit card companies. These cards usually come with a fee for activation and a monthly maintained fee, but can be used to withdraw directly from your sportsbook account.
They function just like any other debit card. They can be used at ATMs and to purchase items online or shop at land-based stores. Withdrawing usually can take a few days to a week and while they are fees, they’re relatively cheap compared to many other methods, including person-to-person transfer. These are usually around $20-30 per request.
Credit card and debit card deposits are by far the most used deposit method in US betting markets for good reason. They’re almost universally available in everyone’s wallet, are processed instantly and rarely come with fees.
Withdrawal processing back to debit and credit cards is also starting to become an option at more sportsbooks. It’s possible this method could soon rival check withdrawals as the most popular payout option.