Sports Betting Online Using A Credit Card
Online sports bettors are always looking for fast and easy ways to deposit into their favorite sportsbooks. Using a personal credit card or debit card is one of the first ways internet sports bettors deposited online. However, over the years, credit card companies have outlawed or blocked many transactions to offshore sportsbooks. Even though it has become more difficult, credit cards still remain a great option for sports bettors who want to wager online and there are still numerous sports betting sites that accept credit card deposits.
Online Sportsbooks that Accept Credit Card
What Credit Cards are Accepted by Online Sportsbooks?
Nearly all major online sportsbooks accept credit card deposits. Depending on your country and processor, your card may or may not clear. US citizens will have a much harder time using credit cards than those overseas, due to US laws restricting gambling transactions. Europeans should have a much easier time, especially countries that allow legal online gambling. Australians should also have an easy time depositing via credit card, as sports betting online is legal.
Major credit cards accepted at online sports betting sites include MasterCard, Visa, and Discover. Some online sportsbooks may even accept American Express deposits. Most debit or credit cards from major processors have a decent chance of working. According to some, Visa cards have a higher acceptance rate than others card companies. If the card does not work it is most likely because your processor is blocking gaming transactions.
In recent years, many US banks and credit companies have felt the crackdown of the department of justice’s war on internet gambling. Payment processors are now often misled by off shore sportsbooks so they can process gambling transactions. These companies may have names that seem as if they are furniture or sales companies but they are sportsbook operators trying to fool US banks and credit companies into doing business with them. The cat and mouse game between US payment processors and sportsbooks has been going on for over a decade, as Americans continue to gamble online and the government tries to stop them from being able to do so.
It is also worth noting that MasterCard charges Americans 1% of the transaction amount for overseas transactions. The issuing bank may pass this onto the consumer, so this may a hidden fee some customers may be paying when depositing.
My Credit Card Was Declined, What Are My Options?
If your credit or debit card fails to process, you will have a number of options. Calling or emailing the customer service of your prospective sportsbook is a good suggestion. The sportsbook may be able to run the card through different processors, increasing the likelihood of success. If a credit card is declined, even something as simple as trying it a few days later has been known to work for some users. Visa cards have be known to have a higher success rate at online sportsbooks versus other credit cards.
If your cards do not seem to work at online sportsbooks, the next best thing is to get a pre paid MasterCard or Visa gift card. These are available at most supermarkets and gas stations and have a very high rate of success. If you deposit using a pre paid gift card be sure to take a photo of the card or keep a receipt, online bookmakers will often want to confirm your identity and may ask for evidence of your deposit.
What Deposit Limits are There for Credit Card Deposits?
For the most part, the limit with your Credit Card Company or bank will be your guide for how much you can deposit using a credit card. The online sportsbook will have deposit limits, but in most cases if you want to deposit more you can call or email the sportsbook and they will accommodate you. This is especially true if you are a long term member in good standing.
In countries where betting online is legal transactions will likely be easier and limits will likely be higher. This all depends on the laws on your state or country, as legality of gaming in your region has a big affect on credit acceptance, limits, and timely withdrawals.
Can I Withdraw Winnings Back Onto My Credit Card?
In most cases sportsbooks will not refund or allow you to withdraw using the credit you deposited with. Often times, credit card companies such as MasterCard may take an extended period of time to process withdrawals or charge backs. For the most part charging back to cards is just not as efficient or cost effective for sportsbooks. E-wallets, wire transfers and other forms of payment are more reliable and much faster for customers.
Credit cards remain one of the fastest and simplest ways for sports bettors to deposit online. Depending on your location and processor, it can be an effortless process or one that takes a bit of tinkering, but is still an effective and safe way to fund sports betting accounts online.
Why Deposit Using a Credit Card?
The most obvious reason to deposit using a credit card is convenience. When you deposit using a credit card it is a one step process, there is no need to worry about funding an e-wallet or sending a bank wire, you simply just put your credit card information in and instantly have gambling funds. Your personal information is exposed minimally.
Compare this to signing up for an e-wallet or sending a money gram or western union transfer, where you must enter a litany of personal information with considerable more risk. Credit card deposits are almost always free for the customer unlike many other deposit methods.
In addition, credit cards the most readily available deposit option. Nearly every online bookmaker offers credit card deposits. Credit card deposits are in almost all cases free of charge to the customer. The small fee for processing credit card transactions is covered by the sportsbooks in the same way that you aren’t charged extra for paying for a meal at a restaurant with a credit card.