Credit Card (Debit Card) Anecdotal Experience

I’m going to start experimenting with various casinos and gambling sites to see what kinds of results I get when trying to make a deposit. This morning I had some money in my PayPal account, so I tried to use my PayPal MasterCard debit card to make a deposit at Bovada.lv.

Here’s what happened:

I logged into my account there with no trouble. I clicked on the $ symbol in the top right to go to the cashier. I had 13 cents in the account. (I lost the rest of it playing Texas holdem there last year, but that’s another story.) I clicked on the option for “Deposit”.

I was taken to a screen with two options: Visa or BitCoin. I assumed (wrongly, as it turns out) that I could just input a MasterCard. I’ve never heard of an online casino which accepted Visa but not MasterCard, but apparently that’s the case here. 

I tried to deposit $37, as I’d read that avoiding round amounts improve your chances of getting the deposit to go through. But it didn’t even start processing. As soon as I clicked on the button to make the deposit, the screen advised me that my credit card wasn’t one of the accepted payment methods.

One other thing that was noteworthy:

I was asked to input the last 4 digits of my social security number when I made my deposit. This was to verify my identity. I didn’t have a problem with this, but I know some people might think it’s a problem.

I’ll update this section with more anecdotal experiences using a variety of credit cards and debit cards to make casino deposits in the future. I think that will be more useful than the general information you usually find in these kinds of articles.

Here’s a rule of thumb among gamblers at land based casinos:

Never borrow money from a credit card for gambling–unless you can pay it off immediately even if you lose the entire loan.

This is a harsh money management rule.

But it’s a necessary one.

When you borrow money from your credit card, you pay interest on that loan after your grace period expires. The best way to borrow money from a credit card is to pay it back immediately. With most credit cards you’ll pay no interest.

With online casinos, you can’t just “walk into the casino” with a pocket full of $100 bills. You have to transfer money to the casino in some other way. Waiting for bank transfers or checks to clear kills the moment.

And that’s why so many casinos began accepting credit cards in the 1990s and 2000s. Banking laws have changed in some countries over the years, and you may not have as many options for using credit cards as you once did.

But you may still be able to use debit cards supported by the major banking networks.

And there are also indirect methods of depositing money that you ultimately borrow from your credit cards.

Here’s an example:

You’re trying to deposit money at an online casino with a credit card (or debit card). MasterCard or Visa declines the transaction. You can use the card to buy a money transfer using a service like Moneygram or Western Union.

As useful as credit and debit cards can be at online casinos, it’s wise to pay off those balances before you start running up interest charges.

Why I Recommend These Sites

With over 2000 licensed online casino sites, I recognize how overwhelming the task of choosing a good online casino can be.

It should go without saying that you should never join an unlicensed, unregulated online casino, but let me say this with enthusiasm:

Far too many legal choices are available for you to take an unnecessary risk with an unlicensed casino.

I evaluate casinos on the basis of several criteria, including payment methods. Everything about your online gambling experience should be fair and/or favorable to the player.

The convenient option of making deposits from credit and debit cards is part of that favorable experience. A casino that simplifies the task of funding your player account is more appealing than a casino that makes you wait.

Because of the changes in some banking laws noted above using your credit card to fund a casino account has become more challenging these days.  A good online casino goes the extra mile to help you process your transactions. One way they may do this is to show you how to purchase an e-voucher from a third-party company that you can then use to make your deposit at the casino. This is like funding a dedicated one-time use debit card.

There are also more debit card options now because online casinos are contracting with multiple payment processing companies that provide their own debit cards. I’m familiar with many of these payment processors, and I’m comfortable recommending casino sites that work with them.

You might fund your accounts with those processors via direct bank transfer or a credit card, and then use those processor accounts to cover your deposits in the online casinos. This is almost as flexible as using a credit card directly because you can often use these payment processors to make online purchases from many retailers.

I try to provide you with the best possible recommendations so that you know your money is safe, your financial information is protected, and you can enjoy a happy entertainment experience with a reputable casino.

Types of Credit Cards Accepted

Although several credit card companies exist, you’ll find two brands most often in the online casino world:

  1. MasterCard
  2. Visa

If you see these logos displayed on a licensed, reputable online casino site then you know they can accept the deposit you want to make.

Other credit card companies include:

  • American Express
  • Diners Club
  • Discover

But fewer casinos work with these companies. Most accept MasterCard or Visa.

Besides regular credit cards, debit cards are accepted by many casino sites. In fact, if you see the MasterCard or Visa logo you should be able to use most debit cards issued by those companies.

If you go to your local store and buy a prepaid MasterCard or Visa debit card the chances you can use it to make a deposit or purchase a voucher for your favorite online casino are excellent.

One great advantage of using prepaid debit cards is that you completely protect your privacy and your financial information. Even if the casino gets hacked, your bank information won’t be on file unless you decide to provide that info for other reasons.

And prepaid debit cards can be used to make purchases from millions of online vendors including retail stores and subscription news sites.

It’s up to you to decide how much money to load onto the debit card so you are always in control of how much you spend online.

How to Use a Credit Card or Debit Card for Casino Deposits

Online payment processing has been refined to the point where in most cases all you have to do is fill out a form on a secure page and click on SUBMIT. With credit cards and debit cards you may have to provide a little bit of security information, but in most cases, you can make the deposit in under a minute.

This level of convenience is extended through some of the alternative payment methods that use a credit card.

Here’s an example:

When you buy an e-voucher, you usually only fill out a form on another site. The third party site charges your card and then gives you a unique voucher number to use to make your deposit at the casino.

Deposits are normally processed instantly. You shouldn’t need to wait long for approval or the occasional decline.

Gambling Responsibly

As great as it sounds to be able to make deposits whenever you please with a credit card or debit card, remember that gambling for most people is a form of entertainment. It’s fun, suspenseful, and even a great social activity if you get together with your friends for an occasional gambling night.

But while 90% of all gamblers can manage their gaming expenses well medical research shows that about 10% of the gaming population goes on to develop a problem.

I support responsible gaming. When you feel like you need a break, take one. The casinos aren’t going away.

Remember to live your life to the fullest. That includes spending time with your family, traveling, cooking dinner, watching a good movie, and going out to the theater.

You’ll enjoy your gambling experience more when it’s just for entertainment.

However you pay for your gambling fun, remember to practice good money management techniques. Budget for your gambling expenses, bank your winnings, and don’t let success go to your head.

Conclusion

Despite the many different options most reputable online casinos now provide, credit and debit cards remain the most popular choice among players for putting money into their gaming accounts. The card processing systems are fast, reliable, secure, and make life a whole lot easier.

And the fact that you can use your credit cards and debit cards in conjunction with third party payment processing options means you don’t have to give up the convenience of making instant deposits even when your preferred casino cannot accept your card because of the banking laws in your country.

There are definite benefits to looking at third party processors that accept credit cards as well as to buying prepaid debit cards that are managed by the major credit card processing systems. You protect your private financial information, place realistic limits on how much you can spend in any one transaction, and have greater control over unexpected billing from online vendors (although reputable online casinos are not part of that problem population).

Using credit cards and debit cards to make your deposits is a win-win situation for everyone, but we must caution you to only use cards you yourself are legally authorized to use. It is an act of fraud to use someone else’s credit card to make a deposit at an online casino. The casinos, if they detect improper use of credit cards, may cancel your accounts. It’s just not worthwhile to play these kinds of games.

If you don’t have a credit card but can purchase a debit card that is the better option. That way you can still enjoy the online gambling experience without violating the casino’s terms and conditions or committing fraud.