MasterCard Incorporated is an American multinational financial services company. Originally known as “Interbank” (established 16.12.1966) and then “Master Charge”, the new MasterCard was introduced in the USA in 1979 and is housed at MasterCard International Global Headquarters in New York.
In the 1980s, MasterCard became the first payment card issued in the People’s Republic and introduced laser holograms on cards, along with the MasterCard business card. That made MasterCard the global brand it is today.
Gambling and Betting Games using MasterCard
Being the global brand that it represents nowadays, MasterCard is currently accepted by most online casinos and betting institutions. MasterCard has made it much safer and much more convenient to fund any of someone’s online accounts.
However, this engagement in the world of gambling is mostly regulated by the country’s and even the local state’s rules and laws.
Stated below are some examples of these laws that regulate online gambling.
MasterCard Casinos by Country
MasterCard is one of the most well-known payment methods in the world, offering a wide range of banking products and services that value clarity, efficiency, and accessibility. By choosing online casinos with MasterCard, you are guaranteed to make secure online payments in less than a few minutes. MasterCard is accepted in more than 180 countries, but you should contact Customer support for more precise information. Below are some laws related to online gambling payment that you may want to know:
United States of America
- The Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA) is the legislation that regulates online gambling.
- It prohibits gambling businesses from “knowingly accepting payments in connection with the participation of another person in a bet or wager that involves the use of the Internet and this is unlawful under any federal or state law”.
- However, the law does not mention state lotteries, and while some states have laws that ban online gambling, many do not have this law.
- Not to forget that to start an online gambling company, a state license is always required.
- By the 14th of April 2020, people living in the UK will not be able to place bets using credit cards, keeping in mind that there is a total of almost 24 million British adults who gamble and almost half of them do it online.
- Separate research of these statistics indicates that approximately 20% of these online gamblers use credit cards to gamble and are classed as problem gamblers.
- Only lottery tickets in the UK will be able to be bought with credit cards, but they will be available for purchase in shops only and must be bought along with other items.
- Recently, local news outlet NDR reported that Visa has shut down their services in Germany, which prevented online casinos from deposits and withdrawals via Visa.
- It has also been reported that some German casino players have been unable to use MasterCard to deposit and withdraw money from gaming websites. It seemed that Visa and MasterCard have forced some online casinos to remove the two companies from a list of available payment options in Germany.
- The issues are not resolved at the moment, and it appears to be further investigated until mid-2021. Players in Germany are advised to choose a different banking method to play on online casinos.
How We Rate MasterCard
Safety and Security
MasterCard offers industry-leading security initiatives to its customers. US cardholders are entitled to MasterCard ID Theft Protection, a protocol that can help detect identity theft in order to avoid or fix it.
MasterCard uses state-of-the-art chip technology to make their cards safer and more durable when used in stores and restaurants. For online transactions, clients can use the MasterCard SecureCode or apply for tokenization to further enhanced protection on their accounts.
MasterCard has a reputation for resolving customer’s problems quickly and efficiently. The company does have bad comments about their customer services, but in our opinion, they are as good as any companies in the payment sector out there. We have tried it ourselves and found out that our matters can be resolved most of the time, while only some of them are out of MasterCard authority, which is a fantastic result for us.
Deposits and Withdrawals
Compared to other payment providers in the same sector, MasterCard has a surprisingly fast and secure transaction speed. We have tested some online casinos with MasterCard for deposits and withdrawals, and the results were very promising. The only downside was that the withdrawal time was too long, up to 8 working days in some casinos. Still, at least we can withdraw the cash, not like some other banking methods. A bonus point for MasterCard.
How to Make a MasterCard Casino Deposit
- Sign Up at an Online Casino with MasterCard
Look for the register section on your chosen online casino. Fill in all the required information. Once you’re a member, click on the Cashier page.
- Enter Your Personal Information
Fill in the spaces on the online registration form. Sign-up is relatively easy to do, with all the information being quite straightforward.
- Select MasterCard Deposit Method
A list of deposit options is going to be available, and you need to choose MasterCard from the dropdown list. Fill in the credit card number and 3-digit activation code.
- Select the Deposit Amount
Select the amount you want to deposit and verify before clicking. Take advantage of any bonus offers that are available. Most online casinos offer bonuses for first deposits.
- Complete the Transaction and Play
You’ll have to wait a few minutes for the transaction to finish. Once you’ve funded the account, start playing.
How to Withdraw from MasterCard Casino
- Win Online Casino Games
In order to withdraw money from your account, you must at least have a positive balance. Play some games and try to win some real cash.
- Make Sure You Fulfill Wagering Requirements
If you use a welcome bonus or another promo, you’ll need to meet wagering requirements. Please read the regulation carefully.
- Select Your Preferred Withdrawal Method
Select from the payment options offered at the online casino, in this case, it’s MasterCard. Make sure you read through the fees and terms.
- Verify Your Identity
Submit the necessary documentation for the verification process. All sites do this for safety and security.
- Wait Through the Estimated Delivery Time
Wait for your funds to be delivered. Various payment types have different withdrawal times, which is usually between 3 to 5 working days, with special cases of up to 2 weeks.
The Pros and Cons of MasterCard Casinos
- MasterCard has a strong customer base and volume.
- Transactions are carried out within seconds.
- Transaction is accepted at most retailers.
- Because it is important to play within your budget, MasterCard offers Debit cards and prepaid cards which can help to keep things within a preset limit.
- MasterCard takes fraud prevention and detection extremely seriously and has implemented detailed countermeasures to help prevent fraud and minimize the impact felt by the consumer when fraud does occur.
- Relatively small to no fees associated with MasterCard deposits.
- Policies – these vary from country to country – but in certain countries, casino winnings cannot be transferred into a MasterCard account.
Step by Step: How to use MasterCard for betting
1- The specific manner in which you use your MasterCard to make a certain deposit depends on which specific MasterCard product you are using
2- Most online casinos/betting companies have a credit/debit card payment option.
3- You have to provide basic financial and contact information that includes:
- Card Number
- The card’s expiration date
- A security code if present
- Home Address
- Telephone Number
- Email Address (Possibly)
4- Advice how much you would like to purchase, and the transaction is processed instantly.
5- One thing to keep in mind is that if you’re using a MasterCard credit card to make a deposit with and online bookmaker, you’ll have to use an alternate withdrawal method when you want to withdraw your winnings.
- Fees depend on the country you’re located in, as well as which bank has issued your MasterCard, so fees vary from country to country and bank to bank.
- There is a small fee for withdrawals at ATMs and for use abroad.
Gambling sites are safe, and like any land-based institution, security is a top priority. Latest encryption and security technology are used to
- Protect users from hackers
- Identity thieves
- Identify any security threats.