How to Use Debit Cards to Bet

betting online with a cardDebit cards have been around for several decades now. They are a common payment method in many peoples’ lives. Originally used in land-based shops, since the introduction of the internet into homes, they have since become popular options for online shopping and payments. Even to the point of being used at online sportsbooks and other gambling sites.

A debit card serves as a payment card that can be utilised in the place of paper cash to make purchases. Upon the card is usually the bank’s name, a card number, the name of the person who owns the card, and an expiration date. Furthermore, a CVV2 code is included on the back strip for online payments.

While you may be familiar with using a debit card in general life, you may not have used one at a sports betting site yet. If not, then we’re here to provide some guidance to you on this payment method. Let’s find out more about debit cards and their advantages to bettors for online transactions.

A Brief Look at Debit Cards in Action in the UK

deposit limitsIn the United Kingdom, debit cards have been an established part of the retail market for a long time. Widely accepted by both physical and online shops, the predominant brands exist in Visa Debit and Debit Mastercard. Alongside these, options like Maestro, Visa Electron and UnionPay are also available.

Banks will not charge users for making debit card transactions in the United Kingdom, although some retailers used to make small charges (primarily for small transaction amounts). However, the introduction of new legislation in 2018 stopped this from being possible. All debit cards in the UK have now been converted to Chip and PIN, as a way of increasing security levels for users. PINs are not required when making online purchases and payments, though. The same is true of making contactless physical payments, too.

It was in the 1980s that banks began issuing debit cards in the UK. This was introduced as a way of reducing the number of cheques being used at point of sale. That payment method is costly for banks to process. Barclays Bank stood out as the first financial institution to offer debit cards in the shape of its Barclays Connect. Today, almost all establishments operating in the UK that accept credit cards also accept debit cards.

When it comes to the online world and sports betting, debit cards remain as the only payment cards accepted. The government introduced new laws in April 2020, which means credit cards can no longer be used for deposits and withdrawals at gambling sites. This was done to tackle problem gambling issues in the country. Debit cards do remain as a supported banking option, though.

Depositing and Withdrawing at Online Sportsbooks with Debit Cards

betting on phone with credit cardIf you do wish to transfer funds to your online betting account wit a debit card, then the process is a simple one to go through. After locating your preferred platform, you need to do the following:

  1. Sign up for an account by entering various details on the registration page.
  2. Verify your account by uploading certain documents to confirm your identity.
  3. Go to the cashier page and select debit card as your preferred banking option.
  4. Enter an amount to deposit, as well as details from the debit card.
  5. Confirm all details are correct and then submit the deposit transaction.

Once you complete the transaction, your money will appear in your betting account straight away. Thus, you can set about placing your sports betting stakes as soon as possible.

Withdrawals via debit card are also possible at most online sportsbooks. The process remains much the same – go to the cashier and choose debit card before entering your card details if they aren’t saved on your account. Once you submit a withdrawal request, the site should process this within 24-48 hours. It can then take anywhere between three and five business days for the funds to reach your bank account.

Why Use a Debit Card for Online Sports Betting?

prosIf you’re wondering why you should perhaps consider using a debit card to complete your online sports betting transactions, then we’ve got some insight for you. This payment method does come with certain advantages, including:

  • Widely Accepted – Just about all online sportsbooks accept payments through Visa and/or Mastercard debit cards. Operators know how popular these cards are with people in their everyday lives, so supporting them at their sportsbooks is vital.
  • Speedy Deposit Transactions – Adding funds to your sportsbook account via a debit card results in an instant transfer of money. This means that you can start placing your favourite bets as soon as possible.
  • No Fees – In most cases, you won’t be charged anything for your debit card deposits and withdrawals.
  • Security Level – While debit card transactions may not be as secure as something like Paysafecard or PayPal for example, Visa and Mastercard SecureCode security does add extra protection to your transactions. This way, your funds will remain safe during transfer and while in your sportsbook account.
  • Bonus Qualification – Sportsbooks often provide players with exciting welcome bonuses and ongoing promotions to claim. Yet some payment methods are restricted from obtaining these perks. Debit card payments usually always ensure that you qualify for the bonuses at a site, though.