The popularity of VISA cards has risen sharply over the past several years to become the most popular depositing option for US sports bettors. This has happened for a variety of reasons. This method of deposit has a high success rate and is extremely convenient for the vast majority of people who bet online. Nearly every US-facing sportsbook offers the VISA card deposit option.
Basics of Depositing with VISA
Depositing via VISA card is not much different than ordering something online with your credit or debit card. Instead of ordering a product or service, bettors are using the card deposit to “purchase” funds at an online sportsbook. Once a player has made a real-money account at said sportsbook, they simply choose VISA Card as a deposit option and enter their information.
Sportsbooks require the same standard information that any online retailer needs when processing a credit card transaction. This includes the card number, expiration date and CVV code, which are the last three digits on the back of the card. They will also require the name on the card and a billing address.
If a player successfully submits a VISA card transaction, the funds will instantly be deducted from the card and available in a player’s betting account.
Advantages of Depositing with VISA
For the majority of people, the most important thing is the convenience of depositing with a VISA card. Most everyone has a credit or debit card and most often one of these cards are VISAs. The fact that the average would-be online gambler can reach into their wallet and instantly possess a deposit option makes this a clear number one choice.
Another reason is because it is cost effective. While many banks charge players a fee for overseas credit card transactions, these are often picked up by the online sportsbooks rather than shifted onto bettors. While some sportsbooks may charge a percentage fee based on the amount a player deposits, the vast majority of sportsbooks cover fees associated with VISA deposits, making them free for customers.
Finally, they have a high acceptance rate. There is more work and potential hiccups with other methods of deposits. VISA cards are have a relatively high success rate most of the time and bettors will know within seconds if their transaction is successful.
If Your Card is Declined
While VISA cards have the highest success rate out of any credit or debit card company, they will occasionally be declined by a sportsbook’s payment processor. A declined transaction from your personal VISA card is not the end of the road for depositing, even for that particular card.
If your transaction gets declined, first make sure you have the information for the card entered correctly. If the card is still declined, you may want to try another card if you have another available. If not, try the card(s) again in a few hours or perhaps the next day. Online sportsbooks use several different payment processors that operate at different times throughout the day. While your bank or credit card company may not work with one of the processors, it may have better success with another.
Bettors have reported little difference between the success rates between debit cards versus credit cards, but debit cards are generally viewed as the better option. Credit cards work fundamentally the same way, but have a larger risk of charging a bettor with a cash advance, which will ring up extra fees and interest on a credit card bill.
If all else fails with your personal cards, another route is buying a prepaid VISA card. These can be purchased at gas stations or large scale retailers, such as Wal-Mart. These have a near 100 percent success rate and operate in the same way as a personal credit card.
Contacting customer support is also an option, they will help you deposit and work through your options as a potential customer. Support may also have access to different credit card processors.
At some sportsbooks, management may request a scan of the front and bank of your credit card before you can withdraw. This is merely a security measure that protects bettors like yourself from fraud.
Few sportsbooks offer withdrawals back to VISA cards. One of the reasons for this is the low acceptance rate on these transactions and also the timeframe in which they would be credited. It can take up to 30 days for a chargeback to be credited to the card. When bettors deposit via VISA card their most likely withdrawal option will be paper check or bank wire.
VISA as a Deposit Option
There are few drawbacks to the VISA deposit option. Nearly everyone in America has a VISA card. There are rarely fees for depositing and the transaction can be done in a matter of seconds. There is no faster way to get into the action.