Credit cards are pretty much the oldest form of processing electronic payments, so even though there are plenty of new kids on the block we know we can trust firms like Visa to get the job done safely and securely.
Common practice in Europe and increasingly so in the States, sportsbooks and casinos are accepting credit and debit card payments from trusted sources like Visa and so loading accounts via this method is quick and easy.
It’s still rarer to see bookies accepting Diners Club or Amex for example however all of them take Visa which is still the most recognizable name on the market.
Why Choose Visa for Your Betting Site Deposits?
There are two ways to choose Visa as long as your sportsbook accepts them both; credit card or debit card. If you are using your debit card then naturally you will need to have cash in the bank to cover this, however if you have been extended a line of credit then your credit will do in any case and this means convenience.
Betting using Visa may well mean you incur charges (see below), though it remains one of the most trusted and secure ways to load sportsbook accounts.
All bookies love Visa and it’s easy to sign up with them, simply open your betting account, slip in your Visa number along with your personal details and from then on all you will need to do to reload your account is type in your required amount and enter your secure number.
Advantages / Disadvantages of Using Visa for Depositing on Betting Sites
We can’t ignore the obvious; that Visa is one of the biggest brand names in the world and as such we can almost trust them blind to make sure our money is transferred safely and that it will be guaranteed should something go wrong.
All online sportsbooks and casinos accept Visa so if you are someone who wants to have different accounts, you can use one card to do this instead of having to load your various banks with different payments methods.
One significant disadvantage with some Visa accounts is that they don’t allow cash advances. If your Visa card does not allow you to draw money from a cash machine, then it’s very likely you won’t be able to use it to fund your betting account either.
Even if you can load your betting account, it will be classed by Visa as a cash advance transaction and be charged accordingly, something which is thought to be the most expensive way of borrowing money.