Debit Card Sportsbook Deposits

There are just as many different types of debit cards as there are credit cards. All of the major credit card brands also offer debit cards. Sometimes, you can even run a credit card as a debit card and vice versa. We are now going to give you a very brief rundown of the major debit card brands that you will find at the average online sportsbook. You can click on any of these methods to learn more.

Visa:

Probably the most popular type of debit card. Almost all online sportsbooks accept it, and it is very easily to obtain one if you do not have one already. Visa Debit cards come with all sorts of extra benefits, making it the card of choice for most people, especially those in the US.

Visa Electron:

This type of card is for non-US residence. Visa Electron is particularly popular in the United Kingdom, Spain, Germany, Austria, and other countries in Europe. It is not accepted in the United States, Canada, Australia, or Ireland.

MasterCard:

Another extremely popular card brand that can be used all over the world. MasterCard is known for its speed and efficiency. Another good thing about MasterCard is that it is very easy to get one.

Maestro:

This is the European version of MasterCard. It is very common in Germany, Austria, the United Kingdom, Italy, and the Netherlands. Maestro is not available in the United States.

Discover:

This type of card is not available at every sportsbook you will come across, but there are a fair amount of betting sites that do accept it. Discover is a fast and efficient debit card, and it offers all sorts of cool cash-back deals.

American Express:

This type of card is obviously geared toward American players, so you will find it mostly at American sportsbooks. American Express is definitely one of the better-known card brands out there, and the fees and limits are very reasonable.

JCB:

This a lesser-known card, but no less high quality, debit card. JCB is a Japan-based company. Although not all sportsbooks accept it, it has an affiliation with the Discover Network, meaning you can use it at merchants and retailers that take Discover cards.

Pros Of Debit Card Deposits

Debit cards have become quite common in the United States and the rest of the world over the past several decades. There are many benefits to using debit to make your online sportsbook deposits. People who are worried about accumulating credit card debt often opt for this method. This next section will give you a list of the pros of using your debit card instead of other methods.

• Debit comes straight out of your checking account, so you will not be spending money that you do not have. This means that it is much easier to avoid racking up debt by charging money to a credit card.
• Debit cards often have some neat features set up with banks that can save you money. For example, some financial institutions have a debit “keep the change” system, whereby when you make a purchase, the total is rounded up to the next dollar and that change is deposited into your savings account or right back into your checking account.
• It is very easy to get a debit card. Banks trust most account-holders to be able to responsibly own one, so they do not ask too many questions when you apply. For instance, they are not going to check your credit history.
• Debit (and credit) is much faster than other methods such as checks or money orders. There’s no waiting around for your money to reach its destination. The transfer process is almost instant.

Cons Of Debit Card Deposits

Although debit card deposits are ideal for many people, they do have their drawbacks. Unfortunately, there is no payment method that works perfectly for everyone. This section is going to list some of the negatives of using a debit card to make sportsbook deposits.

• Debit cards do not help to establish credit since the money comes straight out of your account. There is no paying back anything, so it is not possible to establish any kind of credit history by using debit.
• Just as it is possible to encounter fraud with your credit card, so it is with your debit card. Luckily, your bank will usually provide some sort of protection. For example, they may place a hold on your card if they see unusual activity on your card, i.e. you live in Marietta, GA and charges are being made from Singapore.
• If you are not the type of person who routinely checks your account to see how much is there, you might try to spend money you do not actually have. You could end up getting overdraft fees from your bank if you are not careful.
• Like credit cards, there are sometimes fees for using debit, especially in the United States. Some sportsbooks charge as much as 6.5 percent per transaction.

One aspect of debit cards that we have not yet touched on is withdrawals. Unlike credit cards, on which the Unlawful Internet Gambling Enforcement Act (UIGEA) places restrictions, debit cards do not have such limitations. Some sportsbooks, though not all, include a payout method known as Debit Card Funds Application (DCFA). Debit cards issued by financial institutions and attached to bank accounts can be used to make withdrawals. The minimum and maximum withdrawal amounts vary depending on the sportsbook you are using, so you need to check with your preferred betting site to find out the nitty gritty details.