Last checked and updated: August 8, 2014
This payment method was at one time one of the most popular online payment deposit options for online gamblers, second in popularity only to Visa cards.
But the same circumstances that applied caused the decline in popularity of depositing by Visa also caused this option to become of the least least used payment processors in online gambling in the mid 2010’s.
Basically, whten the US government clamped down on online gambling among their citizens in 2006 with the UIGEA, the effects were felt in the whole world. That small piece of legislation targeted not online poker, as many people thnk, but the transfer of funds to and from online poker sites.
By approaching the problem in this way, the governmetn got the banks to regulate the industry for them, and avoided having to directly regulate the poker sites themselves. This was a rather clever appraoch to the issue, as the American banks were ultimately in control of the funds that feed the poker sites, being the last link in the transaction chain, regardless of where the money originally came from.
The final result of this was the rapid decline in both the number of gambling sites that would accept US citizens as customers, and the associated decline in the usefulness of the established payment methods to effect funds transfers online in relation to gambling.
That all began in 2006. Fast forward to 2014, and MasterCard is the least effective method of transferring gambling funds online, not only for Americans but for players from all over the world.
These days, most online gambling sites, casinos, poker rooms and sportsbooks, will still offer MasterCard as one of their deposit options for their players. It will always be right up there along side Visa in the sites’ cashier. Except, of course, in those sites’ that still welcome players from the USA. While it is always offered, it is no longer a reliable method for depositors.
There are many instances of players deposits being rejected by this credit card company, even though that player may be perfectly entitled to play in that site. The legality of the transaction doesn’t seem to be the problem for this company. They simply do not like processing this type of transfer.
As I said, this option seems to be almost always available, but as to whether the money will go through or not is up to chance. If you do manage to deposit using your MasterCard, then, when it comes to withdrawing your funds, be it the initial deposit amount, or that plus a lot of winnings, you have absolutely no chance of being able to do so back to your card.
Thwy simply do not allow withdrawals. So much so, in fact, that this is rarely even offered as a possible option when you begin the withdrawal process.
It is important to note that these problems, and restrictions, are enforced by the credit card company and the banks, and not by the gaming site operator. The sites you want to play at also want you to play with them. They will do everything in their power to help you get your money into your account so that you can play there. After all, that is how they make their profit. It is in their best interests to help you deposit using any method you choose.
When it comes to this card that just is not possible for them to do.
bearing in mind then that while deposits using this card can be occasionally successful, withdrawals will never work out. If you were intending to use your MC to deposit, you will need to have a second option available to you to get your winnings. Given that this is the case, you really should use that second option to make the deposit in the first place. Cut out the card entirely.
Since 2006 many new online payment processors have come online that are able to more successfully transfer your money for you. Some of these have grown into big businesses so you can be confident in entrusting your money to them. Not only that, but the fees for using these new accounts are much lower than traditional banking fees, making them even more attractive for the online gambler. If you intend to play a lot online, or move a lot of money, then it is worth the effort for you to check some of those new methods out now. Once you are set up you will find using them to be a lot less stressful than trying to use your MasterCard.