MasterCard is one of the best well-known card issuers in the industry. In fact, it’s preferred by gamblers around the world for making deposits and withdraws. Using a MasterCard for your gambling needs is pretty much available at any online sportsbook that you may use.
Further, using MasterCard makes the process easy once you have provided the online sportsbook with your information and card number because they will hold the information on file and make it available for multiple transactions in the future. It’s all SSL encrypted, so you can rest assured that no-one can access this information.
Sports betting rookies and veterans can both benefit from sports betting with MasterCard.
Top Mastercard Sportsbooks of 2020
These are the best sportsbooks that we recommend as of 2020 based on bonuses, odds and overall betting experience:
- US Players Accepted
- Promo Code: BOL1000 (Minimum Deposit: $55)
- US Players Accepted
- Promo Code: VEGASODDS (10x Rollover Requirement)
- US Players Accepted
- Promo Code: SB1000 (Minimum Deposit: $25)
- US Players Accepted
- Promo Code: VEGASODDS (3x to 10x Rollover Requirement)
- US Players Accepted
- Promo Code: ROOKIE100 (6x Rollover Requirement)
Types of Cards Issued by MasterCard
There are several options for those who do not have stellar credit to receive a safe credit card. One such option is purchasing a PrePaid MasterCard. You can purchase a PrePaid MasterCard at various big box stores such as Walmart, Walgreens, Target, and Rite Aid. A PrePaid MasterCard allows you to make a deposit on the card, then use the card for purchases.
These types of cards are well worth the few dollars that they will charge you in fees because you have no liability or risk with the credit card. Basically, if you deposit $500 on the card, you are only at risking the $500 if your card is lost or stolen.
The reason we like and recommend these prepaid cards for gambling is that there’s no extra bills piling up as you play. This means you won’t get a statement in the mail that serves as a wake-up call for how much you have spent on your hobby. Plus, PrePaid cards are much more discreet than using an actual monthly accountable credit card.
If you want to make a deposit to your favorite online sportsbook, you simply make a deposit onto your prepaid MasterCard and then contact your sportsbook with the credit card number. The process is simple and can be completed in minutes!
Besides Prepaid, there are two other types of cards from MasterCard that will help you place your sports bets safely and promptly. They include:
With this card, players will only be allowed to use funds available in their bank account. No need to worry about raking up extra credit. This is a great option for gamblers who want to remain in control of their bankroll. Also, they’ll be eligible for other benefits offered by MasterCard.
This card is similar to Prepaid; the gift card enables users to load a specific amount of funds onto a card and give to someone special as a gift. Alternatively, you can use the Gift Cards yourself. They are just another way to bank safely without divulging too much financial or personal data.
The Legal Situation Around MasterCard Online Sportsbooks
The Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006 was a huge blow to the gambling industry. This is because the law restricted financial institutions from doing business with gambling entities. Therefore, many establishments stopped listing MasterCard as a payment option.
Even then, the situation looks hopeful, especially with the legalization and regulation of online gambling in almost 13 states. The frontrunners of online sports betting include:
- New Jersey
Nevertheless, you may want to go through the specific laws in your area to avoid encounters with the law.
How to Make a MasterCard Deposit
Follow these simple steps to deposit funds into the MasterCard betting sites we have shortlisted above, or the ones you have discovered and trust yourself.
1. Choose an Online Sportsbook from the List
Our online sportsbook experts went out of their way to assemble a comprehensive list of online sportsbooks that accept MasterCard. Some of the factors they considered include software, game variety, bonuses, and payout ratios. Therefore, you can be sure of quality when choosing from the list above.
2. Create an Account
The next step is to set up an account with your preferred online sportsbook. For this, you’ll need your email address and password among other details depending on the sportsbook you choose. You can skip this step and simply log in if you already have an account.
Once you’re logged in, head over to the payment page. Often, this will be listed under the main menu as “Cashier.” Click on deposit and several deposit options will appear. Choose MasterCard.
4. Provide the Necessary Details
A new MasterCard deposit page will open up prompting you to fill the provided fields. These are your personal details and card details which include your card number, the CVC code, and the card’s expiration date. Before, hitting the submit button, confirm that all details are correct.
5. Enter Your Deposit Amount and Wait
Next, you’ll be asked to enter the amount you wish to deposit at the online sportsbook. Again, confirm this before authorizing the transaction. Afterward, all you have to do is wait, typically 5 to minutes for the funds to appear in your balance.
How to Withdraw from a MasterCard Online Sportsbook
1. Head Over to the Payment Page
After winning at your favorite sportsbook game, it’s time to cash out your winnings. For this, you must head over to the payment page the same way you did when depositing.
2. Select MasterCard
After opening up the withdrawal page, you’ll come across multiple withdrawal methods. Choose MasterCard after which a new MasterCard withdrawal page will appear. From there, you’ll have to enter certain details including personal and card details not forgetting the amount you want to withdraw.
The only thing left to do at this point is to wait as the transaction completes. For this to happen, both MasterCard and your online sportsbook must authenticate the transaction for security purposes. Processing time on the part of the sportsbook may take up to 48 hours and MasterCard banks may take up to 3 business days.
Transfer Times at MasterCard Online Sportsbooks
Deposit times are normally short when using MasterCard. Typically, this shouldn’t take more than 10 minutes. Nevertheless, if this happens, you may want to contact the online sportsbook’s customer support.
For withdrawals, on the other hand, players should expect longer waiting times compared to making deposits. The minimum wait time is 3 business days but it can go up to 5 business days. Note that the withdrawal speed will depend on how efficient the sportsbook’s internal systems are.
MasterCard Sports Betting Bonuses
When sports betting with MasterCard, you can rest assured that you will have access to quite a few promotions. Depending on your sportsbook, the amounts of these promos will vary. Sports fans can pick from a number of options, including:
- Welcome bonuses
- No deposit sign-up offers
- Seasonal promotions
MasterCard makes it simple to claim a bonus and the card is often a preferred method as opposed to e-wallets. The reason why is that bank cards are easier to verify and they leave no room for dishonest practices.
Benefits of MasterCard for Online Gambling:
There are plenty of reasons why people use and love MasterCard:
- Reliable and secure: Satisfaction is guaranteed when using this card. Every transaction is processed in seconds without hassles. Security, of course, is top-notch thanks to the 16-digit account number called tokenization. The feature guarantees a more secure transaction in case your personal information is stolen.
- Worldwide reputation: Besides VISA and AMEX, MasterCard is a global brand that has been around for half a century. Therefore, you can expect them to be at any online or physical store including your favorite online sportsbook.
- Ability to make huge deposits: This applies mostly to high rollers who love staking big. For players in this category, restrictions on the amount you can deposit is a huge obstacle and also expensive because players must split their deposits. MasterCard understands this and that’s why they have high transaction limits to allow you to deposit as much as you can.
- Flexible for all purposes: It doesn’t matter whether you want to use it for shopping, business, or gambling purposes. MasterCard understands what you need. In fact, it’s considered one of the most gambling-friendly payment methods.
- Lots of promotions: We love special offers, and there are plenty to be had when using MasterCard to fund your online betting accounts. This includes earning reward points every time you make a purchase using MasterCard, which you can redeem at prescribed dates.
- Zero third parties involved: Unlike other banking methods such as e-wallets that require you to move funds twice before reaching the sportsbook, MasterCard offers bank-to-bank transfers. Therefore, there’s no need for third parties that end up costing more than intended.
Disadvantages of MasterCard for Online Gambling
As trustworthy and widely recognized as a brand MasterCard is, this particular payment method isn’t that well suited for bettors residing in the USA. Since the Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006, several online sportsbooks have stopped accepting MasterCard as a deposit option as stipulated in the legislation.
Even for the ones that accept it, they may still not offer it as a way to withdraw your funds, meaning you’ll have to use an alternative method to cash out. This, of course, makes it rather cumbersome as you’ll need to use two methods instead of one.
Another downside is that sportsbooks, as well as the card providers, usually charge a small fee for performing transactions. Though this applies for most, if not all, credit cards, it’s something that you should be aware of nonetheless.
Dependability and Reliability of MasterCard
When you use your MasterCard to make a deposit or withdraw with your favorite online sportsbook, you will have the dependability and reliability of using a credit card that has been around since the late 1960s and one that is relied upon by millions of people around the world for 50+ years.
MasterCard is accepted worldwide, over 200 countries to be precise, and most people use the MasterCard brand for their gambling deposits and withdrawals because they know that while using MasterCard, they are using a stable bank without the worry of their bank having issues with funding and making good on their payments.
How MasterCard Compares to Other Payment Methods
In terms of debit/credit cards, MasterCard is undoubtedly the number one issuer and for gamblers, it’s because it’s gambling-friendly. In fact, many gambling experts recommend using this payment method, especially if you’re a high roller. Also, players get to enjoy multiple benefits when making deposits, a rarity for many banking methods.
Safety and Security of MasterCard
When you are placing wagers at an online sportsbook, one of the most important aspects is whether your deposits and withdraws are safe and secured. In today’s world of credit card fraud and stolen identity, we need to be careful with what cards we are using and if our information is obtained from an outside source, will the money be guaranteed.
With MasterCard, there are multiple fraud prevention levels to help prevent your information from being obtained illegally and to prevent credit card fraud. MasterCard utilizes preventative measures such as EMV Chip Protection, SecureCode and Card Validation Code 2 Services to help maintain the highest level of security during your gambling transactions.