Mastercard is one of the world’s largest credit card distributors and a direct competitor to Visa. While certain banks have partnerships with Visa to supply their customers with credit cards, other banks distribute Mastercards.
This means that if you’re from a certain country or with a certain bank, you’re more likely to own a Mastercard. Due to this, it is important for casinos to serve owners of both cards equally, and in most cases they do, so if you own a Mastercard, you should have no problem finding a casino to make deposits at.
When choosing any payment method, it is of vital importance to be informed – and we’re here to help. Keep reading to see the pros, cons, how-tos, and the best casinos to use for Mastercard!
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Using Mastercard as a deposit method
Mastercards are a common and simple way to make deposits at casinos. Casinos that accept Mastercards will display the logo at the bottom of their page.
There are a few things you should look out for before you make a deposit using your credit card. While many casinos accept Mastercards as a deposit method, the minimum deposit many be different from other payment methods. Furthermore, a handling fee can apply to transactions. Commonly this fee is 2,5% of your original deposit, but the figure may vary between 2% and 3%.
Casinos should have information such as this readily available on a page or a FAQ detailing the payment options. Alternatively, contact the customer service. As always, check a casino’s trustworthiness by making sure it is verified by a well-known gambling commission and read the terms and conditions.
Mastercard deposit step by step
In your account, you will find a payments screen. From there you either select Mastercard directly or find it as a point under ‘credit cards’ or similar.
From there, fill in your 16-digit credit card number as well as the CVC safety code at the back of your card and specify the amount you would like to deposit.
Your money will be instantly available to use and you can start playing your favourite games immediately.
Using Mastercard as a withdrawal method
When considering Mastercard as a withdrawal method, take note that while most casinos accept Mastercards both for deposits and withdrawals, there are a number of casinos that offer it as deposit method only. This is mostly a comfort issue, as it is often simply easier to use the same method for both deposits and withdrawals.
Compared to Visa withdrawals, withdrawal limits may also vary. Thus, the same rules that apply to credit card deposits apply to withdrawals, as well.
How fast are Mastercard withdrawals?
Withdrawals using Mastercard can take anywhere from 1 to 5 days. People report on average a wait of 3 to 5 days until their winnings arrive at their accounts.
Mastercard withdrawal step by step
Withdrawals work the same way as Mastercard deposits or online shopping using your card.
Select the amount you would like to withdraw and make sure it doesn’t go above the withdrawal limit or below the required minimum withdrawal.
Then, put in your complete card number and your name as it appears on the card, followed by the safety code at the back of your card. Confirm your withdrawal and the casino will process your request.
Pros and cons of using Mastercard
Mastercards are easy to use, but take some time to acquire. You can either sign up for one with your bank, if available, or use the card often provided by a third-party service such as Skrill. This has the advantage that your card is linked to an account separate from your private banking account.
Not everyone is comfortable using a credit card at all, due to the risk of card fraud. Additionally, Mastercards may not be available for withdrawals at some casinos, so make sure to check. In general however, it is very comfortable to directly and quickly transfer money from your account to your casino using a credit card. Due to the various checks in place, it is a secure method, too.
Here is a summary of the most common pros and cons:
- Widely accepted
- Easy to use and secure
- Higher withdrawal limits than most other payment methods
- Some casinos may charge a handling fee for using a card
- It takes several days for winnings to appear in your account
- Using your card always means volunteering potentially sensitive personal information
Mastercard payments for UK gamblers
Lloyds, Halifax and Santander are UK banks that supply their customers with Mastercard debit cards linked to their accounts.
Beyond that, there is a substantial number of third-party services that use Mastercards to link to their accounts. Furthermore, Mastercard is known for offering cards you can earn regular rewards with, either with a Mastercard affiliated rewards program or directly with the third party supplier, like Sainsbury’s nectar card rewards or British Airways frequent flyer points.
Using your MasterCard earns you additional rewards, which can add up quite quickly with regular use. This can make it a more attractive choice over other credit cards for regular deposits.
Transactions using a Mastercard are safe. If a Mastercard isn’t issued by a bank, check the supplier and their terms and conditions, to see if it is a trustworthy credit institute and you agree with the applicable rates before signing up.
It is, of course, most important for the safety of your personal data in general that you make sure the casino you’re planning to use the card at is trustworthy. At such casinos, a good customer service is able to respond to any safety concerns you may have.
Mastercard vs. Visa for online players
Most online casinos that accept Visa credit cards for deposits and withdrawals should accept Mastercards as well. The only differences you have to look out for are variations in withdrawal limits and handling fees, where applicable. A number of casinos do not accept Mastercards for the withdrawal of your winnings, so check before you make a commitment.
Alternative payment methods to Mastercard
If your bank offers Visa debit cards or Visa credit cards instead of Mastercards, there shouldn’t be any large differences when it comes to gambling.
You may want to use a Mastercard linked to an account with a third-party service, as in that case your gambling activity does not appear on your general statements.
If you don’t want to get a credit card at all due to the associated fees or the wait for winnings, both prepaid cards and e-wallets may be an option, although both come with much lower withdrawal limits.