Rugby fanatic - but so much more
Rugby fanatic - but so much more
Since the dawn of the internet, credit cards have been one of the most popular online deposit methods, historically, you wouldn’t struggle to find betting sites with VISA cards or betting sites with MasterCard.
However, times have changed, and on the advice of the UK Gambling Commision, as of April 2020 it became illegal to use a credit card as a deposit method for both online and offline gambling. In this piece, we’ll discuss credit card usage in depth, and also the options that are available for bettors to use instead.
Please, keep in mind that you cannot use credit cards for online betting, which was made effective as of April 2020.
The use of credit cards in the UK dates back to 1966 when bank Barclays launched the first UK credit card, Barclaycard. Other banks such as Lloyds and RBS followed suit creating their own versions of the credit card in the mid-70’s. Today casinos with credit card are still popular, but not legal in the United Kingdom.
The way a credit card works is when a payment is made, the bank is extending credit to the consumer interest free for a temporary period. The bank then bills the consumer usually at the end of each month and any amount that is not paid off by the consumer is rolled over to the next month's bill with added interest.
When the internet was becoming widely used in the late 1990’s, early 2000’s, the use of credit cards to make payments increased massively. Since the beginning of online gambling credit cards have been one of the most popular methods of payments.
As we now know, credit cards became illegal for gambling use both online and offline from April 14th 2020.
The age of being able to use credit cards on gambling websites is behind us - which may sound like an inconvenience, but it’s worth considering the fact that credit cards were never a great choice for online betting sites anyway.
For one thing, depositing to an online bookmaker with credit cards would mean incurring a ‘cash advance’ fee; such a fee does not exist with other deposit methods. What’s more, withdrawing to a credit card did not mean that the funds were available in ‘cash’; instead, the withdrawal would pay off the balance of the card or, if the card did not have a balance, would go into credit. Finally, if the balance of a card was not cleared with a cash payment, then interest would be accrued - sometimes at rates as high as 34%.
The above issues meant that, realistically, credit cards were never a particularly good choice to use when betting online to begin with.
So, with credit cards no longer an option, what methods can you use to deposit to a bookmaker? Here are a few options to keep in mind:
Debit cards - The process for using debit cards on online bookmakers is very similar to credit cards. They may not have the extra layer of security that credit cards offer but they are a very trustworthy and reliable deposit method.
PayPal - A popular favourite e-wallet and online deposit method, PayPal betting is often available, it's reliable and one of the fastest payment methods for making deposits and processing withdrawals.
Neteller - Neteller betting is also popular as it provides a quick and reliable e-wallet and online deposit method. However, you’ll often find there are no welcome bonuses for punters who deposit using Neteller as their payment method.
Skrill - Skrill has the same problem as Neteller where online bookmakers don’t tend to offer welcome bonuses who deposit using them. Otherwise though Skrill betting is a swift and affordable method of payment.
Alternative options: The above can be considered to be the most common alternatives to credit cards, and you should be able to find the majority of these are accepted at bookmakers that once considered themselves to be the best betting sites with VISA cards and the most reliable betting sites with MasterCards. However, bank transfers can also be used, and there are also a few lesser-known options you may want to consider that are available at some casinos; to find out more, read our guides to ecoPayz bookmakers and Bitcoin betting, and also some Paysafe online gambling sites.
The best betting sites with credit card in UK are now a thing of the past as a result of the UKGC ban on the practice of using credit cards to deposit to betting sites.
However, there are multiple alternative options available to bettors in the UK, many of which avoid the pitfalls that were previously associated with credit cards on betting sites. Choosing one of these alternatives should ensure that you can continue to use your preferred betting sites and manage your account as you always have.
Credit cards have been banned when it comes to gambling in the UK. This means that it is not possible to fund our account or place bets using a credit card. By reading our coverage of the best betting sites with credit cards in the UK, you’ll find out why this is the case. Added to which, you’ll find some great alternative methods for funding your account.
The ban extends to more than just using your credit card. Funding a separate account, such as an e-wallet, with your credit card for gambling purposes will not be possible. However, you’ll still be able to use an e-wallet. To find out how to go about this, take a look at our coverage of the best payment methods for online gambling. At Betting.co.uk, we wish to make your life as easy as possible.
The current ban on credit cards has been blanket-applied across the betting industry. By reading our coverage of the best betting sites with credit cards in the UK, you’ll find out if the ban does actually apply to offline gambling. You’ll also be privy to some great alternative payment solutions, which will easily replace the use of a credit card.