Wagering has been prevalent ever since people began watching sports. However, in the past decade, the activity has experienced a paradigm shift thanks to the rise of digital gambling. Once smartphones became affordable and most people could no longer go about their daily lives without the worldwide web, this sphere exploded. Today, as laws grow laxer, it is more common to see people wagering online than at a physical venue.
According to projections, the global online gambling market should reach $93 billion in size by 2023, with sports betting being its most-thriving segment. Internet sportsbooks offer convenience, hundreds of betting markets, vast promotions, and a diverse selection of payment methods. Given that most people are accustomed to using a credit card for their online purchases, plastic is not only a viable option for funding your digital betting account but a preferred one for many that almost all sites offer.
Can You Use a Credit Card for Betting?
To answer bluntly – yes, of course. You’d be hard-pressed to find an operator that does not allow popular card options for deposits. Sportsbooks that accept Visa and MasterCard are easy to come by, and with a simple Google search, you can even find sites that provide credit wagering. If you are a US resident, then there is a good chance that you can also use your American Express or Discovery cards at most places.
Top payment services go a step further to provide you with peace of mind by offering virtual/prepaid cards that you may use at gambling sites. These are a preferred option for many bettors, as they let you transfer a specific amount of funds from your credit/debit card to your virtual one. They are a secure option for any online transaction. Even in the unlikely case that a third-party gets access to your virtual card information, they will only be able to retrieve the funds that you have placed on your virtual card. They are a safe alternative that also helps you bet responsibly by allocating funds specifically for this practice.
Note that in rare cases, a card issuer may decline gambling charges. The ability to use your credit card to wager on the internet could depend on your operator, the laws in your country/state of residents, and the bank that issued your card. In April of 2020, the UK Gambling Commission banned operators that accept UK customers from allowing credit card transfers. However, for players from the rest of the world, the pool of gambling sites that accept credit cards is vast, and they should not have any problems depositing and withdrawing money using this option.
Know that some cards classify gambling transactions as cash advances, and those are usually exempt from payment provider rewards such as cashback. If you are wondering – does gambling affect credit score? No, your credit score has no connection to your online gambling activity. Thus, there is no reason to worry about this pastime impacting your relationships with lenders.
How to Place a Deposit with a Credit Card?
Assuming that you have selected a credible operator, you will need to fund your account before your betting adventure starts. You can use some sites like Safest Betting Sites, which reviews the most trusted and reliable online sportsbooks for credit cards. It, and similar info hubs, provide tips that will help you avoid common pitfalls and save you unnecessary hassles.
The process of funding your sportsbook account via a credit card is straightforward. You’ll need to locate the cashier page on your chosen platform. Most times, there will be a deposit button in the top navigation bar on your site. Alternatively, you may have to access this page through your account profile. Once there, you should be able to select your respective credit card, enter your card details, input your desired deposit amount, and confirm the transfer. The mentioned details will include the 16-digit long card number, your CVV2 code, and its expiry date. After you do this, either the transfer will occur, and you will see your deposited funds in your sportsbook balance, or you will have to go through a verification stage. If you get prompted to complete the latter, do not worry. It is a simple step that companies like Visa, which has the best credit card for gambling, require. The process should only take a couple of minutes, and all you will have to do is enter more information about yourself.
If you followed through with these steps, you should be ready to wager on the event of your choice. Fun fact, soccer is the most bet on sport in the world, followed by tennis. Be aware that processing times for credit card withdrawals usually fall in the range of three to five working days. When you correctly guess an outcome, it may take a few days before you can get to spend your winnings.
Pros and Cons of Credit Card Wagering
So, why should you use your card to bet on sporting events, and what are the drawbacks of doing so. The number one pro of credit cards is accessibility, as everyone has one. Second, when utilizing this option, you get the benefit of instant deposits. Meaning, you should be able to put money in your gaming site’s account, and those funds should become instantly available. If you opt for a bank transfer, you may have to wait a week or more for this to happen.
Most betting sites make all bonuses available for credit card users, which isn’t the case for bettors that opt to utilize popular e-wallets such as Skrill and Neteller. With a card, you do not have to worry about any bonus restrictions. However, if a bank does not allow you to use yours for online gambling, you can call and ask if they can remove the restriction. At least provide an alternative, such as the discussed virtual cards. These are a terrific payment option that is likely the safest way to go when betting online.
Since brands like Visa, MasterCard, and American Express are so established and widely-used, security on their end is tight. High-end SSL encryption also makes sure that the data you transmit to your gambling operator is safe. However, it is you who has to take precautions from getting your identity stolen. Your top priority should be to keep a lookout for phishing websites, which imitate legitimate pages, and frequently scan for malware, such as key-loggers. Identity theft is always a possibility when sharing personal information over the internet, but you can talk to your bank about ways to add extra layers of protection.
Also, be aware that card transfers incur fees slightly higher than those associated with e-wallet and cryptocurrency ones. You can expect to see these charges range between 1% to 6%, depending on your operator.
5 Gambling Sites That Accept Credit Cards
What gambling sites take credit cards? Well, we’ve established that most of them do. That said, what are the best ones?
Well, according to industry experts, MyBookie.ag is most sports enthusiasts’ top pick. It provides free credit card deposits, a sign-up offer that matches the first funds you put into your account 100% up to $1,000, and has a mobile app for added convenience. Currently, BetNow is what many believe to be the second-best pick. It is a Curacao-licensed platform that has been in the industry since 2015 and has amassed a decent reputation and following. It accepts American Express and has a 100% up to $500 welcome bonus if you sign up with the promo code – BN50.
BetOnline.ag is one of the largest sportsbooks on the internet, and it may have the most substantial betting limits for American bettors. It posts odds earlier than competitors and has a 50% up to $1,000 sign-up deal.
You also cannot go wrong with SportsBetting.ag and Bovada. You may know the latter under the name Bodog, as it is its US version. Bodog is one of the industry’s pioneers, and Bovada lives up to its legacy by providing fast payouts and a 50% up to $250 deposit bonus with a low turnover of x5. SportsBetting.ag is another A-grade platform, with a generous 50% up to $1,000 welcome offer and a lifetime reload bonus of 25% up to $500 on all deposits.
Wrapping It Up
So, can you gamble with a credit card? Naturally. All the big sports betting operators allow Visa and MasterCard and popular alternatives to these two mainstays. If you are a US resident, there is a decent chance that any gambling operator in the digital sphere will accept the same card that you use at your local supermarket.
Plastic is a convenient way to make any payment, including ones for online sports action. All you have to do is input your card information, and you are ready to put years of acquired sports knowledge to use. Cards are an efficient means for internet gambling transactions that can make your sports betting experience smooth and super-enjoyable.