Bet online with debit and credit cards
There isn't a betting site worth it's salt that doesn't offer a debit or credit card payment option.
If you have a Visa Debit, Maestro, Solo, MasterCard Debit or Visa Electron then you should be able to deposit funds into your betting account as well as withdraw your winnings.
Of course, a lot of the other variables will often depend on the individual betting site and the bank that you are a customer. For example, processing times can vary from instant to a week.
Visa debit and credit cards are accepted by all betting sites
Advantages with using debit and credit cards as a payment method
- Speed of transactions: Depositing should be instant and you'll get one of the fastest withdrawal rates. If you are a UK based customers you should be looking at withdrawal process times of maximum 24 hours. However, this can of course vary depending on the bank and betting site.
- Convenience: Every betting site will accept a visa or Mastercard registered in a country that it accepts customers from. It's the default payment methods for most customers. If you are using other methods it is usually because you can't use your particular bank with the betting site.
- Cost: There should be no extra fees on transactions at any of the online betting sites. Unlike a lot of the other methods which will charge you a percentage of your transaction.
- Trust: It is the most trusted method of payment. Visa or Mastercard are not some shady online payment method you found online. They are huge institutions that are trusted by your bank as well as the bookies.
- Availability: With every other payment option, even PayPal and Neteller, there will be some online bookmakers who will not accept them. Every online bookie (that you can trust) will accept Visa and Mastercard as a payment option.
Mastercard debit and credit cards are accepted by all betting sites
Disadvantages with using debit and credit cards as a payment method
Security: This applies more to debit cards, than credit cards. If your pay by card online and your details are compromised then it can be difficult to get your money back. This may be unlikely; but say someone hacks, steals or spies on your computer at the time of transaction then they will be able to see your card details.
Betting sites will usually hold on to your details as well. Of course, major betting sites will have all sorts of cyber security programs in place but no-one is safe from a potential hack and if someone does get hold of your details from their records - you will know even less about it until all your money is gone.
These are still very unlikely scenarios but if you have huge funds in your account linked to you debit card then it might be worth considering this point.
Credit cards are less risky as the transaction is not instant. The money is withdrawn on credit so you will have a window to cancel the payment.
Using a Mastercard for online betting payments
It won't be you who choses Mastercard but rather your bank that uses the company for transactions. As a customer, you don't really need to concern yourself with wether it is a Mastercard or Visa you use.
Mastercard does offer an eWallet called MasterPass, which contains some features similar to Skrill or Neteller.
Using a Visa card for online betting payments
Visa debit and Credit Cards are ubiquitous in almost any market, not least betting and sports.
Visa provides more of its transactions through debit cards rather than through credit cards.
They offer both VISA Debit and VISA Electron cards. An Electron card means that you cannot withdraw money that requires an overdraft - which is not necessarily a bad thing when it comes to online betting. You do not want to be placing bets using an overdraft.
Visa sponsors a number of sporting events
Questions and Answers
Which is better Mastercard or Visa for online betting?
As a customer you do not need to concern yourself too much about wether you are using Visa and Mastercard. Instead concentrate on which bank you are using.
Which is better to use when online betting - credit or debit cards
We recommend debit cards. As this requires you have money in your account.
Spending money on credit is not advisable, especially in a market like betting which requires luck, as well as skill, to earn money.
However, credit cards can sometimes offer some attractive loyalty programs. But always check the terms and conditions!