When it comes to banking options, 'the more, the merrier' has been the official motto of online casinos since the first one was launched over two decades ago. Despite shifting trends, internet casinos seem to stay on top of every fad. Although we live in an age of cryptocurrency, some of the traditional payment methods remain a go-to for many gamblers.
Credit cards that allow gambling have been a point of contention for decades, equally puzzling players, operators, and regulators. It seems iGaming is nowhere near the solution, so we decided to examine the topic of credit card gambling and try to answer some of the most commonly asked questions like, can you even use a credit card at a casino?
If plastic money is your weapon of choice, we may have some disappointing answers for you, but don't worry; you will still get to enjoy your favourite pastime, although you may want to make minor adjustments or find alternatives to good old credit cards for withdrawals.
Let's go!
Is It Possible to Use Credit Cards in Online Casinos
Gambling with your credit card is indeed possible at a number of online casinos. Big payment card names like Visa, Mastercard, or Discover are widely accepted at casinos in the United States, allowing players to deposit quickly and securely.
Playing at online casinos that accept US credit cards is as convenient as it gets: you don't have to rely on drawn-out bank transfers or third-party financial services like e-wallets. Also, the process is so streamlined that all you need to do is enter your card details and start playing.
Sometimes, a casino may even offer reward points or cashback for using a credit card, while others create exclusive bonuses that can be triggered only via credit card deposits.
Finally, the biggest upside to gambling with credit cards is security: banks employ highly advanced encryption technology that bars the merchant (e.g., an online casino) from accessing your details, making the whole experience as secure as it gets.
Important Things to Know If You Use Credit Cards for Online Gambling
Using a credit card for online gambling is convenient, offering instant deposits in the most secure manner possible. However, there are caveats to using a credit card at a casino:
Bank restrictions – Due to internal policies or regulations, some banks block gambling transactions. This is especially true for large credit card issuers; if you're looking for a credit card that allows gambling, you might want to turn to smaller banks.
Cash advance – If a bank allows casino deposits, it will most certainly treat the transaction as a cash advance. In other words, every deposit you make will burden your credit limit; you must pay a hefty fee for each transfer and agree to inflated interest rates. Think twice before deciding to make a blow to your credit score due to gambling.
Legal issues – Gambling is not allowed everywhere, and even in those countries and states where it's legal, the regulations differ. If you're in the US, you should know that gambling laws vary from one state to another, with some of them prohibiting all forms of gambling and, consequently, using credit cards for wagering.
Reward eligibility - Although some US casinos may reward you for depositing with a credit card, others will outright forbid you from claiming bonuses, cashbacks, and other perks for using these funds, or put a tight cap on maximum withdrawal limits.
Factors to Consider When Using Credit Cards for Gambling
There are several factors to consider when picking among casino payment options. Some will drive you away from the idea of using credit cards that allow online gambling, while others will probably drive you closer to using them.
Before making a deposit at a casino, please consider the following aspects of credit cards:
Security
There are two sides of the coin when it comes to security of credit card casino transactions. On the one hand, major card issuers like American Express, for instance, employ encryption technologies that make it impossible for third parties to access your credit card info and swindle you out of your money. On the other hand, not even the most legitimate casinos are immune to data leaks and breaches, which may potentially expose the banking information that you must share with them.
We always advise our players to register only at the safest casinos, which have a long-standing reputation for keeping players' data and money intact.
Fees
Fees for credit card transactions may go as high as 5%. If you're a high roller, you probably won't bother with such details. But if you're a casual player depositing $20 at a time, a steep fixed fee attached to every transaction will definitely be a pain in the neck.
Cash Advance
As we said already, all US banks consider payments for the purpose of gambling a cash advance. We won't go into details of this practice and analyse every banking institution's internal policy, but you should know that every time you deposit with a credit card, the funds will be treated as a short-term loan with jacked-up interest rates (and zero grace period!).
Withdrawal Options
This one's the trickiest: even if your preferred casino accepts credit card deposits, you will most certainly not be allowed to withdraw funds from your casino wallet using the same card. In this case, you must look for an alternative cash-out method.
Best Credit Cards for Gambling
What is the best credit card for gambling? The simple answer would be the one you are using. If you already have good experience with certain casino payment options, you can continue using it.
Here are the most widely used credit cards that will work with online casinos USA:
VISA
If you're looking at a list of banking options at an online casino, Visa is undoubtedly the first you will see. Dependable and widely accepted, Visa is among the go-to payment methods for online bettors. Thanks to near-instant deposits, flexibility, and unparalleled security, Visa has maintained its status as one of the most reliable payment cards worldwide.
Mastercard
Mastercard is the second most widely accepted payment card in the world, following Visa. Reliable casinos will normally accept Mastercard for deposits; however, withdrawals may get tricky unless you're using a debit version. Always check whether the casino you want to sign up at accepts Mastercard withdrawals.
Discover
Discover credit card has been in circulation since 1985 and is known as the payment card preferred by young people. It's the third most popular payment card in the US after Visa and Mastercard, and it's commonly found at US online casinos as a deposit method, allowing big limits. As a rule of thumb, Discover cannot be used for withdrawals, so you would need to find an alternative when cashing out.
AmEx
American Express is another household name in the world of electronic payments. It has existed in some form since the 19th century and still continues to dominate the payment card market to this day. Safe, fast, and reliable, AmEx credit card is also known for high interest, so make sure you know the terms of your cash advance contract before depositing or withdrawing with American Express.
Credit Cards in Brick-and-Mortar Casinos
Land-based casinos seem to follow the same logic on this issue and typically don't allow players to deposit borrowed funds. Instead, they will place ATMs in and around their premises so you can withdraw the money you need and then cash it in for chips.
As the song would have it, the times they are a-changin', so we may soon witness more casinos that accept US credit cards.
Is It Safe to Use Credit Cards for Online Gambling?
As far as the security of your personal information is concerned, yes, using credit cards for gambling is safe. So, the question isn't how to use a credit card for online gambling but rather whether you really want to do it.
Easy access to digital payments may lead to overspending, especially when gambling is concerned. Being in the heat of the moment, in the glittery atmosphere of a casino, could compel you to spend more than you can afford, which is a big no-no from the viewpoint of responsible gambling. Before pulling your AmEx out of your wallet at the casino cashier, ask yourself if you are willing to pay high fees and interest rates or, god forbid, end up with credit card debt.
Although credit cards that allow online gambling are a convenient way to indulge in your favourite pastime, never lose their potential, far-reaching consequences out of sight.
