In addition to everything that the development of technology has made easier and simpler for us, one thing, in particular, stands out for those who love games of chance, and that is the possibility of online gambling. Even if many people still find an appeal in the traditional charm of land-based betting, an increasing number of players, especially younger ones, opt for the online version of their favorite games. If we exclude the social factor, which is the main reason some still visit land-based casinos, online gambling has many more advantages compared to traditional casinos. In addition to the fact that our favorite games are available at any time, online gambling is extremely simple and requires practically nothing except the basic data and bank information of the players. And as we live in a time when almost everyone has an active account and credit card, this does not represent any problem.
For years the most commonly used form of payment in online casinos has been credit cards such as Mastercard and it’s no wonder since its payment method has been around well before online casinos even existed. Typically Master card is still to this day a go-to payment method in all online casinos and you are unlikely to find a casino that doesn’t accept it.
Even though Mastercard has been dominating the market of international payment processing since 1966 many players today are wondering if this is still the best payment option to use. With the uproar that cryptocurrencies and different e-wallets have caused many believe that although still reliable, credit and debit cards are quite outdated as forms of online payment.
There is no doubt that there are certain benefits that come with opting for some of the newer payment options available today but finding casino sites that accept Mastercard is incredibly easy, not to mention that Mastercard brings stability and reliability to its users that many of the newer payment processors can’t deliver.
To help you decide on the perfect payment method for you, we’ve compiled a list of pros and cons of using Mastercard in online casinos.
Since there is a selection of different card types by Mastercard that online casinos accept we should start by noting some key differences between them.
Mastercard Credit Cards
A credit card is always a good option and also what most users have. Certain benefits protect the user, such as identity theft protection that shields the user’s information and also guarantees help if the user’s identity does end up stolen. These beneficial features will differ depending on the bank that issues the card as well as the type of credit card (standard, elite, etc.)
Mastercard Debit Cards
A debit card is another commonly used card that also comes with great benefits being that it’s linked to a bank account. Compared to credit cards, the debit card lacks an option for the user to draw credit unless an overdraft facility is in place.
Mastercard Prepaid Cards
For those who like to separate business and pleasure, the prepaid card would be the best option. It enables users to keep casino payments separate from day-to-day finances. One downside is that these cards require to be charged with preloaded credit meaning that they can’t be used at any moment like credit and debit cards.
Mastercard Gift Cards
These cards work similarly to prepaid cards and can be used as a form of payment in any casino that accepts regular Mastercard cards. The only requirement is for the card to be adequately loaded in advance similar to prepaid cards.
The main advantages of using Mastercard in online casinos include:
- The cards are widely available to many already existing users. Since most players already have a Mastercard linked to their bank account there won’t is any action necessary to set up a payment method for gambling specifically.
- Transactions are fast and processed almost immediately meaning that you won’t have to wait before you can start gambling.
- Mastercard, unlike many other payment methods used today, enables both deposits and withdrawals to be made using the same card which saves you time from having to set up another payment option for your winnings.
- It’s a safe and reliable payment method with top security systems in place to ensure the money always ends up where it’s supposed to without complications and the possibility of fraud.
- Mastercard is fully compatible with mobile devices so anyone using their phone to play at an online casino can easily access their banking information.
Cons of using Mastercard in online casinos include:
- Certain fees are to be expected when withdrawing funds with Mastercard. Most online casinos won’t charge extra when you’re making a deposit but the withdrawal is a whole different story. The sizes of these fees may vary and although they typically aren’t high they can still chip away at your winnings.
- Not all casinos offer Mastercard as a way to withdraw money. Although it is widely accepted as a deposit option some casinos have limited partnerships with the brand and do not provide a withdrawal option which means that you will have to find an alternative.
- If it just so happens that you don’t already have an existing Mastercard card the process to get it can be quite draining and take a while for it to simply be used as a payment method in a casino. If you don’t have the card already seek easier payment solutions that will be quicker to set up.