Using your credit card to deposit into any online bookmakers is certainly a decent choice in terms of safety and security. There are a few issues though, especially when it comes to withdrawing, which I’ll go into more depth on further down the page.
First up I’ve come up with a list of the best betting sites which accept credit cards, both Visa and Mastercard.
Credit Card Accepting Bookmakers
Credit Card Withdrawal Issue
I mentioned it in my intro and there’s no hiding the fact that credit cards can be a bit of a pain when it comes to withdrawing money from your betting account.
Deposits are processed instantly from credit cards and in my experience withdrawals take between 24 and 72 hours, although being in the UK I’ve occasionally found it to be quicker than that. However the problem is that you can only withdraw as much as you deposited.
So lets say you deposit £50 into one of the credit card friendly betting sites above. You place a couple of bets and hit an accumulator which leaves your balance at +£450. In this situation you’d only be able to withdraw £50 back to your credit card. You would need to add another banking option, usually bank transfer, to get the rest of your winnings.
That’s not going to be a problem for some people but I know from experience that others don’t want the hassle. Just be aware that you can only take out the same amount as you put in when using your credit card and that’s the same regardless of which online bookmakers you use.
Credit Card Fraud at Betting Sites
As much as I’d like to tell you credit card fraud at online betting sites is never an issue I’d be lying if I did. Don’t get me wrong, it is extremely rare but it does happen in just the same way it happens with all online merchants at some point or another.
The great thing about using your credit card for online betting is that if your betting account or card details do become compromised and fraudulent activity is detected on your account you can instantly decline to pay the transacted amounts when they appear on your credit card statement.
If you were using a debit card and suffered from having your card or account details stolen then you’d have to go through an application process to recover your money and I speak from experience when I say that can take as long as 3 months to resolve.
Any problems with your credit card and security are resolved virtually instantly which is a major plus.
Other Viable Deposit Options
My intention with this article certainly wasn’t to put anyone off depositing at an online betting site using their credit card, I’ve done it myself and I’m sure I’ll do it again, but if you’ve decided it’s not the right option for your then here’s some related reading which might well help you out:
If you use your debit card to deposit instead of your credit card then you won’t face the same annoying issues when you come to withdraw you winnings.
If you use your PayPal account to deposit into an online bookmaker you won’t have withdrawal problems but you’ll still have great security protection and fraud avoidance systems.