MasterCard Payment and Withdrawal

One of the easiest ways to deposit and withdraw money from an online betting or gaming account, is to use a debit or credit card.  These are directly linked to banks or other financial accounts and mean it’s possible to switch money between betting and casino accounts and bank accounts.  With the growth of online gambling, MasterCard has become an important player in money transfer.

The Facts

Website:  www.mastercard.com

The brand, MasterCard, was first used in 1979, as a number of American banks and EuroCard were merged together and formed one company.  In essence, MasterCard provide a service, which is to transfer money between two different accounts but they do not provide the cards themselves.  This is much like the service offered by Visa and they are indeed competitors in this market.

MasterCard deal mainly in credit and debit cards and you can obtain these by opening a bank or financial account in many countries around the world.  You can not obtain a MasterCard debit or credit card directly from MasterCard themselves.

However, the MasterCard pre-paid card is available via their website.  You can apply and receive one by answering a few quick questions.

Types of Payment

Due to the fact a MasterCard debit and credit card is linked to your bank account or financial institution, you are not required to deposit funds in to any other account.  Therefore, you do not need to worry about topping up the card, as all the money you will access when using it, will come directly from the bank account linked to it.

It’s possible to use the MasterCard credit card, without having any funds in your bank account but to use the debit version of the card, you must have the necessary funds in your bank account.

Using MasterCard to Bet Online

It’s very easy and quick to deposit funds in to your online betting and gaming accounts.  When you are logged in to your favourite sports book or casino, access the deposit page and search for the MasterCard option.  Having clicked on MasterCard, you will be prompted to add your card details to the website.

You will need to fill in your complete MasterCard number, full name as it appears on the card, the date of expiry on the card and the CVV safety code, which is located on the back of the card.  Next, fill in the amount of money you would like to deposit and verify all the details, it’s as simple as that.  MasterCard are an internationally renowned company and security is very tight, so you should have no worries when using them.

The money you have deposited will instantly become available in your gambling account and ready for you to use.  You will need to check with your specific country and the website you are using, to see if there are any charges when depositing with a MasterCard.  In most cases, using either the debit or credit card is free of charge but there may be a minimum deposit amount, such as 10 Euro.

Withdrawing money from your bookmaker or casino account, is very similar to depositing money.  You need to select withdraw from the menu and select the card you would like the money to be transferred to.  If using the MasterCard debit card, there should be no problem in doing this.  If you are planning on using the credit card, make sure to check if the website, whether it be a sports book, casino or poker room, allows withdrawals using a MasterCard credit card, as not all do.

Don’t forget, there might be a time delay between when you deposit and withdraw money and having it show up on your bank account statements.

Pre-paid Card

The MasterCard pre-paid card is a great way to deposit and withdraw funds using your online gambling accounts.  All you need to get one, is to provide proof of your identity and your address, that’s it.  Once you have it, you can load money on to it whenever you wish.

The great thing about using the pre-paid card, is that you can spend the money on the card in shops, restaurants and online, without having to transfer it back to your bank account.  Therefore, you could get a MasterCard pre-paid card especially for your online betting and gaming, which will allow you to spend what you win easily.

MasterCard Advantages

• It’s secure and reliable, both online and offline.
• The majority of online sports books, casinos, poker rooms and gaming sites accept MasterCard.
• It’s very quick and easy to deposit money in to your gambling accounts, it will not take more than a few minutes.
• If using the MasterCard credit card, you can deposit funds even without having money in your bank account.
• You can choose how to repay your credit, by setting a monthly amount or over a longer period of time.
• If you want to control your gambling expenditure, you can use the MasterCard debit or pre-paid card, which will only allow you to spend what is in the account.
• You can spend your gambling winnings using the pre-paid card, which is accepted worldwide.

MasterCard Disadvantages

• You have to provide the full card details, when making an initial deposit or withdrawal.  These details are often stored on the website.
• Using the MasterCard credit card can also be a disadvantage, as it allows you to spend money on gambling that you do not currently have and may not be able to afford.
• Some sports books, casinos and poker rooms may charge a fee when using the MasterCard credit card for deposits and withdrawals.  This is not as often as it used to be but some still do.
• Always check you bank account allows the use of MasterCard for online gambling, as some do not.
• You may have to deposit a minimum amount when using MasterCard

Summary

• A MasterCard debit or credit card can be obtained from a bank or other financial institution
• You have to enter the full details of the card when using it to deposit and withdraw funds
• The MasterCard pre-paid card is available to all, via their own website
• All major sports books, casinos, poker rooms and gaming sites accept MasterCard
• Withdrawing funds to a MasterCard credit can prove to be difficult and in some cases, will not be allowed