8 Feb

A Guide to Betting with Credit Cards and Debit Cards

Credit cards and debit cards are by far the most common way to deposit and withdraw on online betting sites. Not all sites offer PayPal, prepaid cards and Instant Banking; not all of them have your preferred web wallet or eCheck. But in countries like Canada, where online gambling is legal, all of them offer credit cards and debit cards. Credit card casinos are common worldwide, but why is this, what makes these methods so popular, and are there any risks or disadvantages?

Credit Card Casinos, Debit Card Casinos

These methods are the first ones you will see on all major online casinos. Take Royal Vegas Casino as an example. They offer dozens of different payment methods. You can choose countless web wallets, gift cards and prepaid cards. They let you use instant bank transfers for all major banks all over the world. But of all of these options, the ones that are used the most are debit cards and credit cards.

This is because everyone old enough to gamble should own at least one of these, and many of them will own several. There is also the fact that debit card transactions can be processed without any fees, while credit card transactions deliver the money directly into the casino’s coffers and provide a number of other features for the player.

Simply put, these two options tend to be best both for the casino and the player. Of course, there are exceptions to this rule, and it all depends on what sort of player you are and how you prioritize things such as speed and safety.

Debit Card Casinos: Advantages

The main advantage to a debit card is that we all have one and it connects to your bank. This gives you direct access to your money, and means you can pretty much gamble anywhere online. They are also fairly safe, and as technology gets more advanced, they are becoming even safer.

There are no fees associated with a debit card either. These are not charged by providers, which means there is nothing for the casino to pass onto the player.

Debit Card Casinos: Disadvantages

The main disadvantage to a debit card is the fact that it takes up to 5 days for the money to clear in your account. When you consider that instant bank transfers and web wallets give you the money instantly, this is an unnecessarily long wait. It’s not something that occurs only on a handful of sites either, as they all have this extended wait.

There are also some potential security issues. Debit cards are connected to your bank, and because many people only have one bank account, it means those cards are connected to all of the money they have in the world. When you think that the card you’re giving to a site online or a strange customer service rep over the phone contains everything you have, it’s scary. There are anti-fraud measures in place and banks often give you back any money that has been unlawfully taken. But not always, and the banks themselves stress that you should take extra care when using these cards.

Of course, this makes it sounds like there are more disadvantages to this method than there are advantages. But while that’s true in size, it’s not true in impact. The accessibility and ease-of-use provided by debit cards should never be underestimated. For many users they negate all of the potential security and speed issues. If that wasn’t the case, then they wouldn’t be the most popular way to gamble and to shop online.

Credit Card Casinos: Advantages

One of the reasons many gamblers prefer credit cards over debit cards is the fact that they don’t have to actually own the money they are gambling with. Every deposit is simply added to their total credit for the month, and they don’t have to think about it for at least a few weeks.

This is especially convenient for professional gamblers playing from paycheck to paycheck and bankroll to bankroll. They are so confident of their abilities that they know they can take some credit, play into profit and then be ready to pay that credit back at the end of the month. Of course, it is a very slippery slope for any problem gamblers, who should avoid using them altogether.

Credit cards also benefit from added security. Firstly, they are not connected to your bank account, so a lost credit card won’t put your entire fortune at risk. Secondly, credit cards tend to offer far greater fraud protection than debit cards do. If the card, the details or the money is stolen, then you shouldn’t have any issues getting it back. This doesn’t mean you can claim back money you lost in the casino. But it does mean you can claim back money lost to a scam site.

Credit Card Casinos: Disadvantages

There are tow problems with using credit cards to gamble online. The first of these is the fees. In most cases you will have to pay between 2% and 4% extra in order to deposit with or withdraw with a credit card. Not all sites charge this fee, but many of them do. Secondly, very few sites will let you withdraw to a credit card.

In theory, there is nothing wrong with this and it is possible. In fact, it can be a great way to pay off your bills. If your bill is $1,000 for that month and you win and withdraw $1,100, that bill will be wiped clean. And you’ll have an extra $100 to spend before you owe the credit card company a cent. However, for every 1 casino that lets you withdraw to your card, there are 10 that do not.

This means that if you deposit with a credit card you have to setup another method to withdraw. And as anyone who has tried using one method to deposit and another to withdraw will tell you, this causes complications. It often triggers the betting site’s verification process. This means you’ll have to jump through several hoops before getting your winners.


So, as mentioned above, it really all comes down to what sort of player you are. If speed is not a concern, but safety is, and if you’re a solid grinder who is confident of making a profit, then credit cards are ideal. If you don’t have a credit card and don’t like the extra fees or lack of withdrawal capabilities, then debit cards may be better.

However, you want something a little quicker, something not connected to your bank balance and something with a greater degree of privacy, then neither of these options will suit.

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