Maine Proposal Would Eliminate Credit Card Use For Sports Betting

Betting on sports via credit will be forbidden in Maine if a new bill before the state legislature is passed into law. Representative Marc Malon, a Democrat from Biddeford, introduced Bill LD 2080 before the state house Veterans and Legal Affairs Committee.

Called “An Act to Protect Consumers by Prohibiting the Use of Credit Cards in Sports Wagering,” as the title suggests, the bill would prohibit players in Maine from using their credit cards to place bets with online sports betting sites.

As much as he is in favor of the revenue that online sports betting is generating for the state, Malon also believes that it is essential to have protections in place to prevent an easy avenue to building up significant gambling debt.

“Legal and regulated gaming creates jobs and provides significant revenue to our state,” Malon said. “But as the popularity of sports wagering grows and as iGaming comes online, the Legislature must prioritize measures that balance sports betting’s economic benefits with modest guardrails to protect Mainers from addiction and falling into debt.

“This bill strikes that balance.”

Malon believes that any available use of credit cards for gambling purposes offers the potential to encourage compulsive gamblers to keep placing bets.

“So there are limits and guardrails for that form of gambling already, and when you’re placing a wager on your mobile app, if it is using a debit card or linked to your bank account, you still face a lot of risk potentially if you gamble, but there’s a natural limit,” Malon explained in an interview with Maine’s Fox 23 News. “When you run out of money, you’re done.

“Whereas when you use a credit card, you run the risk of incurring a boatload of debt.”

Only two online sportsbooks are legal in Maine

Currently, Maine sports bettors have access to two different online sports betting sites – Caesars and DraftKings.

Caesars already has a company rule in place that prohibits the use of credit cards for the placing of bets. At DraftKings, not only do they permit the usage of credit cards for making bets, but the company also offers its players the chance to sign up for its own branded credit card. By doing so, players can draw the benefits of gaining rewards points as they use their DraftKings credit card.

An amendment included with Malon’s bill would also make it illegal to use credit cards at Maine online casinos. Maine Governor Janet Mills recently approved iGaming for the state.

Many other states with legal gambling have already banned credit card use

The Maine proposal is not without precedent in the legal and regulated US online betting market. Ten states don’t allow players to place bets through their credit cards.

That list includes New Hampshire, Connecticut, Delaware, New York, Massachusetts, Michigan, New Jersey, Nevada, Pennsylvania, and West Virginia.

Virginia is also considering banning the use of credit cards to place bets.

Research conducted in other jurisdictions shows that enabling credit card payments for online betting and sports gambling contributes to higher wagering amounts, increased rate of compulsive gambling and greater financial consequence.

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