Credit cards are one of the first cashless transactions methods to appear and they have been prevalent in our society for more than half a century. With such a long lifespan, this payment method has adapted to meet our online needs and is getting better with each year.
Credit cards are the most popular means of payment when making any kind of transactions online. Whether it be at online stores, media platforms, or some of form of online service, credit cards are always accepted. The same can be said about online casinos, as well. There is a large part of the gambling community who favour credit cards above other payment solutions due to the incredible convenience and the sheer simplicity with which transactions can be made. The average consumer in the Western world uses multiple cards on a monthly basis and this creates a lot of possibilities for those who know how to take full advantage of them.
In this article, we will discuss all relevant information about using a credit card to play at your favourite roulette casinos, including advantages, disadvantages, fees and potential issues that may arise.
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Advantages of Using Credit Cards
There are many benefits to using a traditional credit card over other payment methods. For starters, credit cards are widely available and you normally receive one when you open a bank account. This makes the whole process quite painless and you will have immediate access to many online services, including online casinos. Normally, with other payment methods, you will have to go through various stages of identity verification which require you to submit personal documents, bank statements and other information, whereas credit cards become available as soon as you open a bank account, which we all have nowadays.
Where transactions are concerned, there are very few services that actually trump a credit card. Using this payment method, you will be able to make near-instant deposits and your money will be available within a few seconds, thereby allowing you to immediately start playing your favourite roulette games.
Moreover, credit cards come with quite strong security measures in place, in case something goes wrong. No record is ever kept of the CVV code located on the back of the card, therefore, only those who have physical access to the credit card will be able to use it. As any responsible consumer, you should always keep your card in a secure place. Furthermore, Visa and MasterCard have special security systems, known as Verified by Visa and MasterCard SecureCode, respectively, which serve as Two-Factor Authentication for whenever you want to make a purchase. Whenever a transaction is made by your card, the issuing company will send you a verification code that you will have to enter to complete the transaction. Without this code, the payment cannot be made and therefore, only you will be able to spend any money.
Speaking of money, when you use a credit card you do not use your own funds directly. Instead, the bank extends credit to your account to be repaid later on. The vast majority of banks have a policy that you are not responsible for any payments that were not made by you. So even if some fraudulent activity happens, you will not be liable for the charges. On the same note, since it is the money of the bank that is potentially at risk, you can rest assured that they will take every necessary precaution to avoid this happening. There is a reason, after all, that the banking institutions have some of the best security systems in the world.
Disadvantages of Using Credit Card
While the above-mentioned points make a good argument for using credit cards, there is also a less glamorous side to this method of payment. One of the primary disadvantages of credit cards is that you are not gambling with your own money. The way that credit cards work is that with every purchase the bank extends you a loan equal to the value required to complete the transaction. Therefore, when using a credit card you are not using your own money, rather you are spending that of the bank.
This could potentially cause you to lose sense of much you are spending and as you acquire debt it will eventually pile up if you do not know how to manage it. This is one of the greatest pitfalls when you play on borrowed money and those with poor impulse control are especially vulnerable to this. Therefore, it is recommended that problem gamblers refrain from using a credit card at online casinos and rather utilise one of the many other payment methods that offer smaller spending limits.
In the event that you do actually spend more money than your limits allow, you will have to pay overdraft charges on top of the debt that you have already accrued. As you can imagine, this is hardly ideal and it may even hurt your credit score, something that every consumer fears. To reiterate, credit cards are only for those who have the discipline to control their spending.
Another less harmful aspect of credit cards is that the time in which your withdrawal is processed is rather slow. A traditional withdrawal to a credit card will take anywhere between 2 and 5 business days, which is hardly ideal, especially when other services such as еWallets and cryptocurrencies allows the user to receive their funds within 24 hours.
MasterCard users are at a higher disadvantage than Visa holders due to the fact that online casinos cannot process withdrawal requests to such players. This has nothing to do with the online casinos, rather it is MasterCard who should take the blame. For whatever reason, MasterCard has a strict policy against online gambling and refuses to process incoming payments from such websites. As a result, MasterCard holders cannot receive their winnings via credit card. This is unfortunate and quite an inconvenience for some players. If this is the case for you, you will have to resort to another online payment solution, as there you cannot work around this issue.
How to use a Credit Card at Online Casinos
Depositing at online casinos is as simple as it can be. After you open an account at a particular casino, you will be prompted to make your initial deposit. Simply head over to the cashier’s page and find the credit card option. There you will be asked to supply all relevant information about your credit card. This includes the card’s 16-digit number, which you can find on the face of the card, as well as, your name, as it appears, and the card’s expiration date, both of which can be found under the card’s number.
Additionally, you will also have to enter the CVV code, which is located on the back of the card and it comprises of 3 digits. Once you have done this the casino will retain your card’s information, with the exception of the CVV code which you will have to enter manually every time you wish to make a deposit.
The process is similar when requesting a withdrawal. Go to the cashier page and select the withdrawal option. You will then have to enter the sum that you wish to cash in and then select the card you wish to withdraw to. Keep in mind, that you will most likely have to withdraw your winnings to the same card that you used to deposit. This rule is not present at every online casino, but it is common all the same.
Fees For Using a Credit Card
Credit card transactions are some of the cheapest from all of the available payment methods, but there may still be some costs associated with them. These normally arise from the online casino in question, rather than from the bank that issued the card.
While most online casinos have chosen to bear the cost of the transaction, there is still a sizeable number of them out there that charge commission. This, naturally, various from casino to casino, but generally, it floats between 2% and 5%. This kind of sum will not break the bank, but it still feels bad to be charged for simply topping up your casino balance.
Security of Credit Cards
As we have mentioned above, credit cards are among the most secure payment methods available to users. They come with some innate features that are meant to prevent fraud and identity theft, which have been quite successful for the most part. The next layer of security comes from the casino itself. By law, online casinos are required to safeguard user’s personal and banking information in the event that a data leak happens. To accomplish this, companies use some of the most sophisticated encryption technology available today.
Traditionally, this comes in the form of 128- or 256-bit SSL (Secure Socket Layer) encryption systems. This software encrypts your information in such as way that only you and the casino staff can access it. In other words, no unauthorised parties will be able to look at it. In the event that some information does get stolen, all of it will be completely unreadable to those who do not have the key to the cypher.
For those interested, the encryption may be broken with current technology, but due to the sheer complexity of it, it would take on average between 80 and 160 years to achieve this. Therefore, this solution is hardly practical for wrongdoers and they generally abstain from doing this. For these reasons, online casinos are very well equipped to handle any and all issues. You can safely submit your personal information, knowing that it will be in safe hands.
Paying with Credit Card on Mobile Devices
Some of you may be wondering whether or not it is possible for you to pay with your credit card when you are playing on your mobile device. The truth of the matter is, that there your platform of choice has no bearing on the available payment methods. On your mobile device, you could just as easily enter your credit card information and proceed with the deposit as you would do on your desktop computer.
The mobile user interface of the casino in question will be perfectly suitable for the smaller screen, making your interactions with it a breeze. Much like on the desktop version, you will be required to go to the cashier’s page and submit your card’s information. After that, simply enter the sum that you wish to load into your casino balance and confirm the transaction.
Frequently Asked Questions
Why has my transaction been rejected?
There are numerous reasons why your transaction did not go through. For starters, you should check your balance and see if you have not gone over your credit limits. After all, you cannot deposit money if there is nothing that you can deposit. Second, see what your bank’s policy towards online gambling is. There are several banks and financial institutions that have taken a stance against online casinos and similar websites.
In this case, you will have to use a different card or, alternatively, utilise another payment method. While this is not an ideal solution, there is nothing to be done in this case. Finally, see if you have entered all of the details correctly as there is always the possibility that you have made a mistake somewhere. These are the most common reasons why a transaction would not go through. For anything else, contact the online casino’s support staff and your bank for further clarification.
Can the online casino be trusted with my card information?
As we have mentioned above, the vast majority of online casinos are legitimate businesses that adhere to government regulations and laws. As such, you can safely use your credit card without having to worry about it being misused. On this website, you will only find honest and trustworthy online casinos that have a good track record of treating players with the respect and dignity that they deserve.
If you still do not feel comfortable revealing your card information, then have a look at some of the other online payment solutions that we have covered. Most are widely supported and you will not need to use your credit card directly when depositing.
Which credit card brands are accepted at online casinos?
We cannot speak every single online casino, but there is a trend to follow and we can talk about that. Generally, if an online casino accepts credit card payments it will certainly support Visa and MasterCard. These are the two most popular credit card types and you can use them just about anywhere. Additionally, there are also online casinos that accept American Express and Diners Club, though these brands do not enjoy the same popularity as the previous two.
My withdrawal is taking too long. Why is that?
Withdrawals issued to credit cards, generally, take longer to process when compared to other payment services. Before the payment is sent to your card, it first has to be approved by the casino staff, which in itself can take up to two business days. Only after that is done will they actually send you your winnings. The transaction will be processed within 5 business days, typically, but if you requested your payment during the weekend or just before, you may have to wait a bit longer. Of course, this time frame does not consider local or international holidays. Still, this should not be a cause for concern; your payment will arrive eventually.
How do I acquire a credit card?
If you do not already have one, you will have to talk with a representative of your bank. Typically, it is very easy to get a credit card for most people. As long as you have a good credit history, the bank will have no problem issuing you a card. If, however, you are rejected for any reason, then consider using a debit card. They function in the exact same manner, with the one difference being that you spend money that you actually own. There are players who prefer debit over credit cards for this reason alone.
Why am I being a charged a fee for depositing?
There are some online casinos that will charge a small percentage of each deposit as commission. This charge is meant to cover the cost of the transaction. Of course, many casinos pay for it themselves, but some go a different route. Whether you wish to pay extra is up to you and you could always switch casinos. There are also such online casinos that forgo this commission for players part of their VIP clubs. This could also be an option that you could explore as it comes with many other benefits.
Someone made a payment from my credit card. What can I do?
If you suspect that someone other than you is using your card you should immediately contact your bank and sort out this problem. Legally, the bank cannot obligate you to pay for a transaction that you did not make personally. If the payment was made to an online casino, contact the support team who should be able to provide you with further details. Keep in mind, however, that while you will be able to chargeback the money, you may not have the opportunity to use that card again at the particular online casino. Since credit card fraud is a common crime that businesses suffer from, many will ban the card for further transactions even after only one instance.
Overall, credit cards play a huge role in our consumer habits and are one of the best ways to manage your online casino bankroll. They allow us to make instant transactions and while the withdrawal time frames are not the best out there, no one can doubt how reliable credit cards are when compared to other online payment services. Naturally, they have their inherent advantages and disadvantages and each person has to weigh them against each other.
But as far as online gambling is concerned, you will hardly find a more suitable and hassle-free method to fund your casino balance. With this in mind, we can in good faith recommend that you try to use them to meet your gambling needs.