Making a payment with a Credit card
Paying for online sports betting with credit cards is a popular option as many people are already using their flexible friend to pay for goods and services on a daily basis. In addition to being quick and simple, credit card firms also often provide certain consumer protection that many digital wallets do not.
If you don’t yet have a credit card but are perhaps looking to acquire one, there are a few steps you need to take. These may differ from provider to provider, but will ultimately involve the following:
- Step 1: Firstly, you need to find a provider that offers agreeable terms. This step requires a little research and you should take note of what interest rates are on offer and what the repayment terms are.
- Step 2: Most credit card companies have a fairly simple application process. You’ll need to provide your name, date of birth and address before the lender assesses your creditworthiness.
- Step 3: Your credit card should arrive in the post a few days later. You will normally receive a pin number separately. As soon as you have both, your card is ready to use.
Once you have your credit card, you should also have the details of what your credit limit is and what date you need to make your repayments. Always keep this information to hand as missing a payment or going over your limit can incur further costs.
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How long do credit card deposits and withdrawals take?
The appeal of online betting is that it’s highly accessible and bettors can enjoy their favourite platforms wherever and whenever they are. As such, an important consideration when finding credit card betting sites is the speed at which payments are processed - after all, delays are no one’s friend!
Deposit and withdrawal times will vary from operator to operator. Using a credit card with most bookmakers will mean deposits are credited more or less instantly - subject to website traffic. It’s rare to have a platform take longer than a minute to add the funds to your gaming wallet.
Withdrawals, on the other hand, can vary somewhat, depending on the platform you are using. For one thing, not all operators process withdrawals in real time. Many of the smaller platforms will actually process them in batch at the end of the business day - meaning that, if you miss the cut-off, your request will not be processed until the next day. Details of processing times can usually be found in the terms and conditions.
Credit card withdrawals are rarely instantaneous. A general time frame seems to be 3 - 5 business days before your account will actually be credited, but this can vary depending on your provider.
If you want to see how Credit card processing times compare to the latest e-payment methods, why not check out our guide to PayPal betting sites?
Credit card verification requirements - get your ticket in order
Credit card firms are part of the traditional world of finance and are therefore subject to some pretty stringent rules and regulations. There are several steps involved in verifying a new credit card account - but the good news is that almost all of these are done behind the scenes.
When you open a credit card account, the lender will be required to conduct a credit check. This not only confirms you are eligible to have a credit card but will be also used to determine what your credit limit will be. Of course, as part of essential KYC the company will also double-check your ID and address details.
Once you’ve received your credit card, effectively this acts as verification in itself. Most credit card bookmakers will allow you to add a payment option, which saves you from having to enter the long credit card number every time you want to deposit. Instead, you will be required to add the security code found on the signature strip - this is not stored on the platform and should never be shared with anyone else.
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The history of credit cards - a journey well travelled
Whereas most digital payment methods have emerged over the last decade or two, credit cards have been on the scene for closer to a century. The idea of a charge card, as we know it today, has its origins in the 1930s when air travel firms started offering customers the chance to buy now and pay later. The idea was then expanded in the 1950s with the emergence of the Diners Card and later American Express.
The first credit card to be launched outside of the States was Barclaycard, which started life in the late 1960s. The popularity of this payment method grew at an exponential rate and by the 1980s most high street banks and lenders were offering some kind of credit card.
In the modern era, technology has allowed credit cards to be used online for all manner of goods and services. To protect users against fraud, most companies will monitor activity and contact the account holder if they spot anything unusual, effectively offering a degree of protection against credit card theft.
Many credit cards also offer certain other benefits, for example, American Express allows holders to accrue air miles the more they use their card, which can then later be used to put towards a holiday. In fact, some airlines, like British Airways, have also launched their own credit cards for that very purpose.
Credit card to other providers compared - travel safely with credit cards
But since the emergence of the credit card, numerous other payment methods have emerged, such as Skrill, PayPal and Neteller - so surely the trusty old credit card is somewhat dated? The answer to this is a definite no. Credit card companies have continually adapted their service - especially as commerce has shifted online. As such, they often offer many features that e-wallets do not.
We have already mentioned that credit cards often have their own rewards in place. Often these come in the form of cashback, air miles or other shopping discounts. This makes any kind of shopping with your credit card that little bit more cost-effective, as you can usually accrue benefits elsewhere.
You also won’t be charged a set fee for sending or receiving funds to your credit card account - this is not something that’s true of PayPal or Skrill, as both take a percentage when you withdraw from their platform. For more information on other payment types and their fees, check out our guide to betting deposit methods.
There’s also no denying that credit cards are that little bit more convenient. When you use credit card betting sites, you simply add funds directly from your credit account. However, if you use, say, an Ecopayz bookmakers, you first need to add funds to your EcoPayz account. You also then need to reverse this extra step when it comes to making withdrawals, which include delays to you actually receiving your funds.
Credit card bookmakers are a little bit harder to find than they used to be, as many Governments have brought in measures to prevent gambling from being done on credit. Fortunately, our handy comparison will tell you what credit card betting sites are currently operating.
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Most popular payment methods - how will you travel?
If you’re a fan of online sports betting and casinos, then you’ve probably noticed that there are plenty of payment options you can use to fund your gaming account. Many of them have particular uses and some are even set up for alternative payment forms.
At betting.net™ we want to make sure you know exactly what options are available and which sites support which payment methods. As a general rule, you should expect to be able to pay by either digital or traditional payment options, but newer platforms often break the mould here. What’s important is to make sure any platform you use is secure and reliable when it comes to handling payments.
You might know all about the likes of Skrill and PayPal, but you might also be interested to find out a little more about these newer payment types, in which case our guides will give you the lowdown on their respective strengths and weaknesses.
Alternatively, you might be a bit of a traditionalist at heart and prefer the old fashioned ways - in which case you might like to take a look at our guide to bank transfer betting sites.
More Popular Payment Methods for Online Betting
Conclusion - Credit card will help get you to your destination
So that’s about the end of the line for our guide to credit card betting sites. Having looked at the pros and cons of this particular payment method, you probably have a better idea of whether you will prioritize betting sites that support it - on the other hand, you might have decided to embrace e-payment methods.
Credit cards are certainly good for convenience as you don’t need to add funds to a separate e-wallet before you can use them on credit card bookmakers. In addition to this, many credit card firms have some pretty tight security - which is always good for peace of mind.
Admittedly, if you don’t already have a credit card, then the application process is much longer than with an e-payment platform, but ultimately credit cards have far more use cases - you can use them offline for a start! What’s more, paying for things with a credit card can even get you money off your next holiday.
Hopefully, you now have a good idea of the credit card betting sites out there, so why not head over to one and see if it floats your boat? Alternatively, you might want to look through some of our other guides to find out which other destinations tickle your fancy - the world is your oyster!
Credit card payment service FAQ
How do I find a credit card betting site?
Different bookies will accept different payment methods, but fortunately, our comparisons give you a one-shop where you can find all the platforms supporting your preferred payment option. You’ll also be able to see what other features each site has, which will help you decide on your ideal destination.
Can I fund my betting account with a credit card?
Here at betting.net™, we have put together several guides and comparisons showing you which operators accept which payment methods. If you head over to our credit card betting sites guide, you’ll be able to see all the top platforms accepting this payment method.
Are credit card betting sites legal?
In recent years, betting with credit cards has been banned in some countries. More often than not, if you open an account from within one of these jurisdictions then you simply won’t have the option to deposit with a credit card. However, it’s always worth checking the regulations in your country, just to be sure.
How long do credit card payments take?
Payments to credit card bookmakers will usually be more or less instantaneous. However, withdrawals can be a different story, as different platforms have different processes. To get an idea of the payment processing time of a particular operator, why not check out one of our reviews? We’ll tell you how long you can expect to wait, along with whether or not the platform actually accepts credit card payments.
Are there spending limits on a credit card?
Some betting operators have limits set according to certain games or bet types. However, you should also remember that your credit card will also have a set spending limit - the details of which should be clearly displayed on your statement.
Are credit card betting sites safe to visit?
Regardless of the payment type you plan on using, every time you land on a new bookmakers website your first port of call should be to check if it is licensed to operate in your particular jurisdiction. After this, you should check out its security protocols. If everything is as it should be, then you can be sure the website is safe to visit.
Are credit card bookmakers legal?
It’s worth noting that credit card betting sites are not legal in some countries. In the UK, for example, the Government has updated rules barring online gambling platforms from accepting bets made with credit cards. However, for international users, there are still plenty of perfectly legal credit card bookmakers.
Do all betting sites offer credit cards as a payment option?
Online betting with a credit card is fairly popular, so you’ll find many platforms support the payment option - however, some will not. The best way of finding legit credit card bookmakers is by checking out our comparison here at betting.net™. In most cases, if a site does not accept credit cards, you simply won’t see the option. However, you can always use your debit card instead, which has similar benefits.
Does using a Credit card exclude me from any welcome offers?
Each betting platform you use will have different rules when it comes to their promotions. For example, using a credit card for sports book betting may exclude you from particular odds boosters and some welcome offers are only available to debit card users. The best way of finding out about a particular offer is by checking its particular terms and conditions.
How do I choose a credit card bookmaker?
Choosing between credit card betting sites can seem like a big decision, but that’s why we have put together our comparison - to help you find out what each site has to offer and how they measure up against the competition. Just remember, you are not bound to a particular location, you can always try out one platform and move on if it’s not what you were looking for!
