VISA cards are one of the most popular cards in the world and are used by millions of users around the world to make purchases, physical or online. The latter is where we pitch our tent and online betting to be particular. Bettors can now use Visa cards to make deposits and withdrawals from their favorite online sportsbooks!
These sportsbooks, on the other hand, have made it possible so that bettors can use their VISA cards to make their deposits and withdrawals using their secured websites. One of the reasons why VISA is one of the most popular cards worldwide is its security.
Another advantage of using cards from this issuer is that the funds are guaranteed. Therefore, online sportsbooks prefer using it as a source for making the deposits and withdraws because there’s no chance of their money getting lost during a transaction.
In this review, we’ll take a deeper look at Visa as a payment method on betting sites in general. This includes its advantages, disadvantages, and also compare it against other payment methods.
Top Visa 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)
The Legality of Online Sportsbooks that Accept Visa
Two of the biggest concerns in gamblers’ minds is the safety of their transactions and personal details as well as the legal situation regarding various payment methods and gambling as well. For Visa, you rest your worries knowing that the company only partners with legitimate online sportsbooks. With that said, the state or jurisdiction you live in will determine its legality.
For the US, the UIGEA passed in 2006 crippled many gambling establishments. Not that the act exclusively prohibited gambling but because it restricted financial institutions from doing business with gambling entities. As such, institutions like Visa also passed this down to their consumers, thereby affecting the business.
Nonetheless, several states have recently legalized and regulated online gambling and betting with others still debating whether they should follow suit or not. The states where online gambling is legal are Delaware, New Jersey, Pennsylvania, and Nevada but financial institutions are still treading with caution.
Also, instead of using your Visa card to directly fund your sportsbook account, you can use it to fund an e-wallet of your choice and later on fund the sportsbook.
Non-US VISA Users
For users that reside outside of the United States, using a VISA card is much easier. Most online sportsbooks will allow the use of VISA cards. However, they will incur a small fee from their merchant account so they may pass along to the user. VISA is used and accepted worldwide, so no matter where your online sportsbook is located, chances are it will accept VISA deposits.
- Convenience: One of the top benefits of using a VISA card is the fact that the transaction can be made from the comforts of your own home without needing to log onto a computer and without driving to a bank or wire transfer company such as Western Union or MoneyGram.
With VISA, you can simply call your online sportsbook and give them your card number, name and security code number and they will allow the card to be used. Some online sportsbooks do require you to send a copy of your driver’s license to use the VISA card but that is more for safety and can be completely the same time you use the card.
- Accepted worldwide: Visa has made inroads in many countries across the globe in terms of payment. This also includes online sportsbooks that have listed Visa as a payment method. With such a wide footprint, it’s no wonder bettors use this option.
- Deposit huge amounts: Remember, Visa facilitates transactions from one bank account to another. Typically, you can transfer as much as $10,000 between bank accounts. This makes it ideal for high rollers who prefer placing huge stakes, unlike other payment methods that restrict the amount you can transfer at once.
- Safe and secure: Visa has been in operation since 1958 and the fact that they are still in operation today means that customers have deep trust in the company. This trust comes from the safe and secure transactions offered by Visa that ultimately prevent fraudulent activities.
- Receive cashbacks: Cashbacks are often given to customers who use their cards to make purchases but this will depend on the type of card you have. Often, users will have a chance to redeem the points accrued for cash.
- Extra fees: The biggest downside to using VISA at an offshore online sportsbook is additional fees and costs included with each deposit. As we said earlier, when online sportsbooks accept charges from a VISA card, they are charged a certain percentage, which most platforms pass on to their clients. This can be costly if used multiple times in a month and therefore we recommend considering other options to make your deposits and withdraws.
- Difficult to use gift and prepaid cards: While it may be easy to find online sportsbooks that accept Visa, it’s difficult to find one that accepts prepaid and gift cards. The main reason is due to identity issues and even if you’re lucky to find sportsbooks that accept Prepaid cards, chances are you’ll have to incur additional fees normally included when depositing funds.
You’ll need three steps to make a deposit at your online sportsbook using Visa. Here the steps in greater detail:
1. Choose a Sportsbook that Accepts Visa
From the comprehensive list provided above, choose a preferred online sportsbook that accepts Visa. Keep in mind, our experts have analyzed each platform to ensure you get the best. Afterward, create an account by providing your personal details such as your email address.
After logging into your account, proceed to the cashier option on the payment page. From there. Head over to deposits where you’ll see a list of payment options and choose “Credit Cards.” Under this option, select VISA as your card of choice. Thereafter, a new window will pop up.
3. Enter Your Card Details and Amount You Wish to Deposit
This is the final step and you’ll be asked to enter both card and personal details in the field provided. Your card details include its expiration date, CVC code, and the card number while personal details include your full name.
Next, specify the amount of money you wish to deposit at the online sportsbook. Confirm that all details are correct and once you’re satisfied, submit your request.
Note: Deposits may attract a slight fee, typically, 2%-3% of the amount in question. Nevertheless, some sportsbooks may waive these fees if you deposit more than a certain amount. Also, there are minimum and maximum deposits with the latter capped at $5,000 and the former set at $10.
Withdrawing Your Winnings
1. Head to the Payment Page
You’ll need to log into your account and head to the sportsbook’s payment page. Afterward, click on the withdrawal option and from the list of options provided, choose Visa.
2. Enter the Required Details
Again, you’ll need the same details as you did during the deposit process. Don’t forget to enter the amount of money you want to withdraw. Finally, hit the “Submit” button to authorize the transaction.
Note: Not all sportsbooks accept Visa as a withdrawal method. Therefore, it’s in your best interest to read and understand the terms and conditions before making a commitment.
Which Type of Cards Can Be Used?
Millions of people worldwide make transactions using a Visa credit card, but there are also other types of cards that Visa offers that you should be aware of.
- Debit Cards – This card is directly linked to your funds. Be careful if you are an emotional gambler as you will likely continue to withdraw your money until your bank account is empty. At least you won’t have to worry about over withdrawing as withdrawals cannot be processed when your funds reach zero.
- Business – This type of card is usually reserved for wealthier individuals and comes with extra perks and bonuses.
- Credit cards – Visa offers several types of credit cards and all of them will help you to manage your bankroll. Furthermore, since each card comes with a unique set of terms and conditions, you must choose a card that suits your financial status to avoid credit issues further down the road.
- Prepaid – You can preload these cards with a set amount of money, which acts as a good money management system because it means you won’t have to worry about spending beyond your means when using this type of card for funding your online betting account. Once the card fund is all used up, you’ll won’t be able to make additional deposits unless you reload your card.
- Virtual cards – From the name, these cards are intangible and are only accessed through the internet. Therefore, you don’t need the typical card to access funds or perform transactions. The only thing you’ll need is your account details. The best part about these cards is the convenience and fast transactions they offer.
Comparing Visa with Other Payment Services
- Visa vs PayPal
PayPal is used internationally and has become one of the most famous online payment systems. However, nothing can beat the convenience of Visa. Visa is undoubtedly the most common payment option, and every online casino accepts Visa, whereas not all online gambling platforms accept PayPal. Fees for PayPal transactions are usually more than those for Visa.
- Visa vs Other E-wallets
The same applies to other e-wallets, such as Neteller and Skrill, both of which are also very popular, but they don’t offer the same flexibility and convenience that Visa cards do. In most cases, unless the online sportsbook doesn’t accept Visa, there’s usually not many reasons to consider using e-wallets over Visa.
- Visa vs MasterCard
Both Visa and MasterCard are the most well-known card brands and perform equally in most areas except for when it comes to withdrawals. For MasterCard, you will need an additional payment option to withdraw from your online betting account, whereas for Visa, you can make both deposits and withdrawals with one single card.