How To Gamble Online Without Credit Card
Dont gamble more than you can afford to lose. When the fun stops, stop. Why then, when gambling online, does the gambling industry allow its customers to gamble with credit. What part of gambling within your means involves allowing someone to gamble using a credit card. I believe the opportunity for vulnerable people to do this must be stopped. Credit card gambling sites are simply online casinos, sportsbooks, or poker rooms that accept credits cards as a method of funding a player’s betting account. It can also be equated to using your credit card as a cash advance for betting purposes as online sportsbooks don’t offer credit.
Odds are, your first choice for funding an online gambling account isn’t a prepaid card. Nevertheless, you may find yourself considering this option depending upon where you live.
Prepaid cards are a nice way to avoid restrictive laws and bank policies. They also let you deposit with relatively anonymity.
They’re very similar to credit cards too. This aspect is comforting if you’re used to making purchases and/or gambling deposits with Visa or Mastercard.
Assuming you’d like to learn more about prepaid cards and how to gamble with them, you can find everything you should know in the following guide.
What Is a Prepaid Card?
A prepaid card stores monetary value, via binary coded data, on the card. You “load” money onto the card at a bank, credit union, or retail store (e.g. Walgreens).
Prepaid cards look similar to credit and debit cards and may even have a Visa or Mastercard logo on them. However, they work different than both in two main ways.
First off, you can use prepaid cards anonymously. Only the data related to the card is stored on the issuer’s servers — not your personal information.
Second, a prepaid card doesn’t let you spend more than what’s been loaded. You don’t have to set up a checking account, like with debit cards, and risk over-drafting the account.
You also don’t borrow money as in the case of credit cards. Instead, the value of a prepaid card is only related to what’s loaded onto it.
Semi-Closed vs Closed Prepaid Cards
Prepaid cards come in different forms. The two most-common classes of these cards include “semi-closed” and “closed” system. Below, you can find out more about each type.
Semi-Closed System
A semi-closed system prepaid card can be used at various businesses, including online gambling sites in some cases.
They’re not bound to a specific company. Instead, third parties issue semi-closed-system cards for use at many different merchants.
The laws concerning these types of cards can change from one country or state to the next. In any case, semi-closed systems differ from closed systems in that they must adhere to some form of legal standards.
Closed System
These cards are only available for use at a specific merchant. For example, the Walmart MoneyCard is used at Walmart stores.
Looking specifically at gambling, MST cards are only available for depositing at Realtime Gaming (RTG) online casinos.
You can’t redeem a closed-system card for cash. You can only load money onto it and purchase goods or services from a specific merchant.
Closed-system cards are rarely subject to any laws. Merchants issuing these cards don’t have to offer refunds based on lost/stolen cards or unsatisfied purchases.
Pros to Gambling Online With Prepaid Cards
Regardless of whether you use a semi-closed or closed-system card, you’ll experience notable advantages when using this gambling payment method. Here are the key benefits to betting online with prepaid cards.
Instant Deposits
Just like with a debit or credit card, prepaid cards let you instantly fund your internet gambling account. You don’t have to wait hours or even days for funds to arrive like with certain other payment methods.
A prepaid card is also perfect for making instant deposits at online gambling sites in absence of a credit or debit card. You’ll have trouble using the latter two options with bad credit.
Prepaid Card Deposit Bonuses
Online casinos, sportsbooks, and poker sites sometimes offer special bonuses if you use a prepaid card. For example, you could receive a 100% match bonus worth up to $500 for depositing with one of these cards.
If you’ve already exhausted the welcome bonus or free bet (sportsbook), prepaid card bonuses are an excellent way to earn more free money.
Simple Money Management
You don’t have to worry about paying gambling deposits back later like at credit card gambling sites. You can also avoid overdraft fees that can come when exceeding your account funds with a debit card.
Prepaid options only let you spend the loaded amount. This aspect is comforting if you’ve ever had problems finding balance between your everyday expenses and gambling funds.
Accepted at Many Online Gambling Sites
Not every internet bookmaker, casino, or poker room takes prepaid cards. However, a large majority do feature this deposit option.
Many prepaid cards are branded under Mastercard or Visa. Therefore, gambling sites see these as trustworthy banking methods that they can offer to you and other customers.
High Level of Security
A prepaid card represents one of the most-secure banking methods in all of internet gambling. They’re not linked to your bank account or private information.
Assuming somebody steals your card, they can only take the money — not your personal details. They probably won’t even be able to access the money considering that they’d also need the card’s PIN number.
Anonymity
The fact that issuers don’t store your personal info offers anonymity. You can gamble online with prepaid cards or make other purchases without giving out your name, email, phone number, etc.
Contrast this to credit and debit cards. These options require you to give your personal details to the issuing bank.
Easy to Use
After money has been loaded onto a prepaid card, you won’t have much trouble using it to fund your gambling account. The first step involves visiting the gambling site’s banking section and looking for the prepaid card option.
Once here, you just need to enter your card’s PIN number and desired funding amount to complete the deposit. Again, the funding should arrive instantly once you’re finished.
How To Gamble Online Without Credit Card Offers
No Rejected Deposits
Prepaid card issuers don’t scrutinize the nature of your transactions. They won’t intervene if you deposit at an online sportsbook or casino.
This eliminates a huge headache with credit and debit cards. Issuing banks reject around half of all deposits made with these types of cards.
Cons to Gambling Online With Prepaid Cards
You can see that there are plenty of upsides to funding your casino, poker, and sportsbook accounts with prepaid cards. However, these cards also come with notable drawbacks that you should be aware of too.
Loading Inconvenience
You may find that having to load your card over and over again is extremely inconvenient. Even worse, some issuers require you to get a new card every time you want to make a purchase/deposit.
Debit and credit cards have a decided advantage in this department. You can either use credit or funds in your bank account to buy items or place gambling deposits.
Fees
Some prepaid cards force you to cover extra fees when depositing or withdrawing money from your gambling account.
Oftentimes, the issuer will feature a deal for new customers. For instance, you may not have to pay withdrawal fees during your first month of use.
The fees will kick in at some point, though, with relevant cards. You should carefully read the terms of service on your prepaid card beforehand.
No Refunds on Stolen Cards
The issuing company decides whether or not they offer refunds on lost or stolen cards. In most cases, though, they don’t give refunds.
Credit and debit card issuers are much friendlier in this aspect. Issuing banks will arrange for you to have a new card and receive your stolen funds back.
Low Maximum Deposits
Gambling sites often place their lowest max deposit limits on prepaid cards. MST cards, for example, only allow for up to a $500 maximum deposit.
You can fund your account with much more money using just about any other option. For instance, bank wires allow for $50,000 in funding or more at some sites.
Conclusion
You may not view prepaid cards as your first option when depositing at internet gambling sites. However, you can see that they’re definitely worth considering due to their many advantages.
- First off, you can place instant deposits with this option. Prepaid cards are just as fast as debit and credit cards when it comes to funding your account.
- You might even receive a special bonus when depositing. Check the site’s promotions section to see if any deals are available.
- Prepaid cards don’t require you to rely on credit or bank account limits. Instead, you can only spend what’s actually on the card.
- You can also make secure and anonymous transactions with prepaid cards. Issuers don’t store your personal information.
- Perhaps the biggest benefit of all is that your deposits won’t be rejected. In contrast, banks that issue credit and debit cards block a large amount of gambling related transactions.
Just like any payment method, prepaid cards also come with a special set of downsides too. They require more work when considering that you must reload them or buy new ones.
You also have to cover fees with prepaid cards. Sometimes, these fees can be ridiculous on small deposits. For example, MST card requires a $5 fee on any transaction — even if it’s just a $10 deposit.
You probably won’t get any help if your card is lost or stolen. That said, you must safeguard both the card and PIN number.
Can You Use A Credit Card To Gamble Online
Despite the drawbacks, prepaid cards are still viable ways to deposit at casinos and bookmaking sites. You should certainly consider them if you don’t want to use a credit or debit card.