Many sportsbetting sites are available across the internet today, each providing players with the things they need in order to get a seamless online betting time. Some focus on providing them with a wide variety of markets, others on giving them a choice of bonuses to claim, but they all have one thing in common: they all want to provide players with many payment methods they can choose from.
It is important for players to get a decent choice of banking solutions they are comfortable betting with since, in the online sportsbetting industry, it is all about the money. Luckily, there are many solutions players can use to get secure banking at these sites. MasterCard credit card is one of the safest. Why choose MasterCard credit card as your payment method?
Created as a competitor…
… to BankAmeriCard, a brand today widely known as VISA, MasterCard credit card conquered users’ hearts from the very beginning, ever since it was called Master Charge. The now-multinational corporation was initially established in 1966 in the US, by the Bank of California, Wells Fargo Bank, United California Bank and Crocker National Bank. Previously, MasterCard was a membership organization, owned by more than 25,000 financial institutions.
All those companies that had a share in the organization were issuing MasterCard credit cards. Today, these cards are issued by any cooperative bank, with an essential function to process payments between the banks of the purchaser and the banks of the merchant.
Even though…
… established in the US, it grew to become a massive cooperative brand, available in more than 180 countries all around the world. That’s why it changed its name a few years back to MasterCard Worldwide, to emphasize its worldwide expansion and coverage.
Naturally, since it has such incredible brand recognition, it is a payment method available across the majority, if not all, online sportsbetting sites. One of the reasons why players choose to use it over any other payment solution is that they already have been issued with the card, they know how to use it, so all it takes is connecting it to their sportsbetting site account in order to start using it.
The convenience…
… and familiarity of use are some of its strongest suits when it comes to online gambling. Players know how to use it, they know it is a secure method and they know they can trust it with their money. So don’t be surprised to learn that you’ll have no difficulty finding a site that you’d like to join which accepts MasterCard credit card.
Getting Started with MasterCard Credit Card
One of the main reasons why people choose to use MasterCard credit card in the first place is that they have a variety of cards to choose from, depending on their preferences and their willingness to pay higher fees to get better benefits.
In short…
… you can choose to use the variants World Elite, World, Platinum, Gold and Standard MasterCard. They all differ in properties and the range of customers they can fit best. Depending on whether you're a frequent traveller, or a regular everyday user, or even a business-oriented user, you can check out these card variants and you'll find one that will suit your needs.
To get issued with a card…
… you would have to visit any bank. Today, it is highly unlikely to find a bank that doesn’t issue MasterCard credit cards. So, just visit your local bank and ask about the specific card variant you would like to apply for. Speaking of which, you should know right away that the application process is straightforward.
You would have to open a bank account with the bank if you don’t have one, by filling in a form. The bank will review your application and approve or deny it. If you meet all the criteria, your application will be approved, and after that, you’ll only need to wait for a week or two for your physical, plastic credit card to be issued.
To claim your card…
… you would either be asked to return to the bank, show your ID and get the card, or you will receive it by mail. Either way, along with the credit card, you will receive your PIN number in a separate envelope, so that it can only be seen by you and no one else. Once you get your card, you can start using it.
Depositing and Withdrawing with MasterCard Credit Card
Considering MasterCard credit cards have served users to process online payments long before any sportsbetting site was ever launched, it is only natural that both operators and players trust it with their money. And that’s the reason why you’ll find MasterCard credit card across many, if not all sportsbetting sites.
Once you choose the site you’d feel comfortable placing bets at, you can proceed with the registration. While you’re entering your private details to create your account, you will be asked to register a Deposit method.
To make deposits with it…
… you would have to find its logo from the list of available payment methods at the site, and click on it. You will see that the actual process of depositing will be the same as with any other credit card, like VISA, for instance. You would have to enter the amount of money you would like to have on your sportsbetting account, and then you'll have to enter the 16-digit card number, found on the front of the card.
Finally…
… you'll have to enter the CVV2 code which is found on the back of the card and finalize the request. Sometimes, you may even be asked to provide your PIN code, but not always. Once you confirm your transaction, go back to your player account at the site, and you’ll see the funds available on your balance.
Unfortunately…
… even though previously players could request a withdrawal with MasterCard credit card in the same way, today, it is impossible to withdraw money with it. In 2005, due to legislative restrictions, changes made to the UIGEA Act which banned payment processors to facilitate withdrawals made by US citizens from sportsbetting sites, the company limited the transactions to these sites to deposit-only.
This is one of the major drawbacks of this payment method, actually, since players usually prefer using the same payment solution for both deposits and withdrawals. But still, MasterCard credit card has managed to retain its user base even for deposits only. Many players are still using it for deposits, and choose eWallets or other payment solutions to cash out their winnings.
Benefits and Drawbacks
One of the main benefits you get by using MasterCard credit card is its availability. The fact that you won’t need to look for hours just to find a sportsbetting site that offers it as a payment method is valued by most players. It is a payment solution available across many sites where you can place bets on your favourite sports events and enjoy safe transactions.
On that note…
… the high-end security measures it employs make it one of the safest online payment solutions. With the latest encryption, all kinds of authentication processes, and verification options, MasterCard credit card is considered the best by many users.
Instant deposits are also a plus. Punters like to have the money on their sportsbetting site's balance in a second, since time is of the essence when placing live bets, for instance. The fact that this credit card processes the transactions instantly is highly appreciated by players.
Finally, almost all of the credit card variants described earlier offer a cashback feature. This is a reward the company gives users for trusting it with their funds. The cashback can later be used by users as it suits them, even for playing across sportsbetting sites.
On the other hand…
… the fact that you cannot use it for withdrawals may discourage you from using it for deposits in the first place. Most players like to go on their sportsbetting adventure with one payment method only, so if you’re such a player, you might want to consider an alternative.
Another disadvantage is that fees apply for every transaction you make. There’s a cost to safe online banking, and you should be prepared for a charge every time you make a deposit.
Many sportsbetting sites are available across the internet today, each providing players with the things they need in order to get a seamless online betting time. Some focus on providing them with a wide variety of markets, others on giving them a choice of bonuses to claim, but they all have one thing in common: they all want to provide players with many payment methods they can choose from.
It is important for players to get a decent choice of banking solutions they are comfortable betting with...
