MasterCard is the world’s second most popular credit card. As such, it is used by millions of people around the globe and is also available at online casinos. Currently, MasterCard is one of the primary banking options supported by the iGaming industry and almost all online casinos accept it. But is it the right banking method for you? Below, we will cover everything you need to know about using MasterCard for online gambling.
How to Use MasterCard at Online Casinos
Credit cards are one of the easiest ways to transfer money on the Internet. It only takes a minute and you can be playing not long after.
When you have decided upon an online casino and are ready to top up your balance, you will need to go to the cashier page. There, select MasterCard from the list of supported banking methods. At this point, you will have to enter your MasterCard information. It is found on the card itself and includes a 16-digit number, an expiration date, and your legal name. All three can be found on the face of the card. On the back of it, you will find the 3-digit CVV code, which is also required.
Once you have entered the information, you will need to select a sum to deposit. Enter the amount and confirm the transaction. If you have ever made purchases online, you will be immediately familiar with the process.
Withdrawing via MasterCard – where it is available – involves mostly the same steps. You will have to select the MasterCard withdrawal option and enter the sum you wish to cash out. The casino will remember your credit card details so there is no need to enter them again. Confirm the payment and wait for it to clear.
Taxes and Fees When using MasterCard at Online Casinos
Judging online banking methods is done not only by their usefulness and functionality but also by their cost. After all, it is no good to transfer any sum of money if a large chunk of it goes towards paying transaction fees.
In this regard, MasterCard holds up quite well. There are no inherent fees to make payments with MasterCard. The service is free for all cardholders, at least, as far as the banks are concerned.
In certain rare circumstances, you might encounter a casino that charges commission for credit card payments. It is usually a percentage of the whole transaction; no more than 2.5-3%. All in all, it is not common for casinos to do this. However, even if the practice is dying out, there are still platforms that abide by it.
Luckily, in today’s online gambling scene there are so many casinos at your disposal that you can always do away with one if it does not treat you right. What’s more, just about all of them support MasterCard, so you will have no issues in finding another one.
Deposit and Withdrawal Timeframes When using MasterCard at Online Casinos
When it comes to making transactions, MasterCard is highly convenient and allows you to make a deposit in seconds. After you have entered your card information in the form and have confirmed the transaction, the casino will receive your money instantly. As soon as you are finished, the funds will appear in your balance. From this point on, you can do with them as you please. Efficiency is key where MasterCard is concerned and deposits are nothing to fret over.
Withdrawals, on the other hand, can take some time to process. Requesting a withdrawal is not much different than making a deposit. You enter the sum you wish to take out, select your card and confirm the transaction. The payment will be processed after 1 to 5 business days. Moreover, the casino can take some time to review the request and take into account your gaming activities. This can take between 1 and 48 hours, depending on the website in question. Only after this procedure is done will your withdrawal request be fulfilled.
Overall, making transactions with MasterCard does not take much effort. The casino gives you all the tools you need to control your finances and most of it can be done with a few clicks.
Advantages of MasterCard for Gambling Transactions
MasterCard is one of the most popular credit card brands out there and for good reason. The benefits that MasterCard offers often trump those of other services. The advantages that MasterCard provides will no doubt convince you of the value of the service.
The first and most useful aspect of MasterCard is that you can use it at practically every online casino out there. There is hardly any gambling website on the Internet that does not accept MasterCard. Unlike other niche services, MasterCard is available in more than 99% of all cases and you can have your pick of online casinos.
Additionally, making payments via MasterCard is a simple and convenient process. All you need to do is enter the credit card number and the sum you wish to deposit. The transaction is instant and you can get down to playing your favourite games in a matter of minutes.
Something else to consider is that MasterCard cards are widely available. You can get one from any bank and also can use it for purposes other than online gambling. Many other services supported by the iGaming scene have few applications in the real world by comparison.
Disadvantages of MasterCard for Gambling Transactions
Naturally, nothing in this world is perfect and there are downsides to every payment method out there. For all of its good qualities, MasterCard is not without its share of bad ones. It is a good idea to carefully consider these before you commit to this payment method so that you are not blindsided in the future.
The main negative quality of MasterCard is just how long it takes for withdrawals to process. A MasterCard cashout can take up to several business days to process. This is hardly ideal in a world where instant transactions are possible. While MasterCard may be faster than other services, it is still slow, in general. If you wish to have your money instantly, it would be a better idea to go for an eWallet.
Speaking of withdrawals, some online casinos have difficulties processing payments to MasterCard holders. Not all gambling websites can send your withdrawal to a MasterCard. This is due to the stance that MasterCard (the company) has taken towards iGaming. The whole situation is rather strange, considering how some casinos can process your payment, while others can. Your mileage may vary, but it is something to keep in mind.
Mobile Casino Banking with MasterCard
Mobile gambling is a large part of the iGaming scene and operators put in tremendous efforts to ensure that everyone has a positive experience. As a result, online casinos offer the same banking solutions to their mobile customers, like the ones that are available to desktop players. This means that you will have no issues making transactions with MasterCard if you choose to go the mobile route.
The process is exactly the same as on a desktop computer. You enter your card details and then conduct the payment as you normally would. What’s more, smartphones give you the option to store your credit card information so that you only need to enter it once. You will still have to enter the CVV code each time. This is done to ensure that nobody can misuse your funds even if they get a hold of your phone.
Regardless of which platform you choose to play from, MasterCard is a solid choice and you will enjoy the same benefits on either system. Even if you have never opened an online casino from your mobile device, it is still a good thing to have the option to use your credit card everywhere.
Is It Secure to Use MasterCard at Online Casinos
When it comes to the security of MasterCard – and credit cards, in general – you want to make sure that nobody learns your card details. For this reason, whenever you enter that information online it is encrypted with fully-modern technology. Nobody outside of the casino and yourself will be privy to that information and you can be sure that your money is safe.
For even more protection, MasterCard offers the MasterCard SecureCode service. It is an extra layer of security and it is always a good idea to have it on. It is a Two-Factor Authentication system, which requires your approval before a payment is finished. When you want to make a transaction, you will receive a code on your phone via text message. Only after you enter the code will the payment be cleared. This is useful in the event that someone learns your credit card data.
SecureCode works so well since, without the code, the money never leaves your card. Moreover, since only you have access to your phone, you can always rely on it to keep your funds safe.
FAQ about MasterCard
How do I sign up for MasterCard SecureCode?
The SecureCode service needs to be activated by your card issuer, usually, this is your bank. It is free and you can turn it on whenever you wish. There are no real downsides to SecureCode, except that you have to enter the code each time.
Can I reverse MasterCard payments?
If you believe that a fraudulent payment was made using your credit card, you have to contact the bank right away. If that fails, you can try to chargeback the money. However, misusing the chargeback function may come with consequences. Online casinos keep a list of players who request a chargeback on their deposits. If you appear on this list, you may find yourself barred from most gambling websites.
How many MasterCards cards can I have at an online casino?
If you want to register multiple credit cards to your casino account, you will usually have that option. The specific number of permitted cards will vary, depending on the different websites. Additionally, you also need to remember that casinos will usually process your withdrawal only to the card that made the deposit in the first place.
Do online casinos prefer credit or debit cards?
Generally, this is a non-issue as far as the online casino is concerned. Both are treated the same and even use the same infrastructure. It is rather something that would interest you personally. Since credit cards often come with interest fees, it may be a better idea to use a debit card. Though, whatever works for you is fine.
Can I use MasterCard with other payment services?
If you wish to protect your credit card information, then you can use another banking method to serve as an intermediary. These services support many of the payment solutions out there and will gladly accept your MasterCard transactions.