Last updated on May 4th, 2021 at 12:50 pm
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Information about Mastercard payment for casinos
Among the online gamblers who prefer using MasterCard are Canadians. To be clear, much of the Canadian online gambling population is happy to find an online casino that accept MasterCard.
The popularity of this payment method as a deposit/withdrawal option is the primary reason gamblers will find this option at pretty much every online gambling site. What appeals most to the gamblers and casinos that accept MasterCard is how easy the option is to use. That includes any kind of banking transaction. What's more, prepaid MasterCard is a great option for people who don't want to incur debt to support their online gambling activities.
It's noteworthy that it is a primary sponsor of debit cards for most major banks throughout the world. It's hard to find an online gambler who hasn't used MasterCard to fund their online gambling account at least once.
MasterCard comes with a lot of advantages for card users. It's the primary reason you will find the MasterCard logo on pretty much every online casino and sportsbook.
The advantages include but are not limited to:
- Security: After processing tens of billions of transactions a year, it is a good bet that MasterCard has its security locked down tight
- High Credit Limits: With high credit limits, high rollers can easily make their casino deposits and worry about paying off the card later
- Immediate Deposits/Withdrawals: While other options might take hours to process, all deposits are immediate
- Cashback Rewards: Some products will allot online gamblers cashback rewards for using it to fund their gambling activities
- Low to No Fees: Some casinos that accept it will waive fees. That also applies to online casinos that accept prepaid MasterCard
By the way, gamblers do not need a bank account unless they are using their MasterCard debit card. The credit card option does not require a bank account.
Mastercard casinos Safety and security
As one of the top financial institutions in the world, customers can bank on MasterCard providing the highest level of security. Anything that the product offers in the way of security will assuredly rival anything that a banking institution will have in place. In the least, MasterCard's system is protected by state-of-the-art encryption technology. Other security features include some of the most sophisticated firewalls known to mankind.
It's noteworthy that customers have the assurance they will never have to pay more than $50 over fraudulent transactions. With some regular and prepaid MasterCard products, customer exposure is zero. It's one of the reasons that online casino MasterCard usage is so popular among online gamblers.
As far as security at the casino level, most online casinos that accept players from Canada maintain licenses through top regulatory bodies like the Malta Gaming Authority or the UK Gambling Commission. As such, they must maintain a minimum of 256-bit Secure Socket Layer encryption coverage. Most online casinos also use an intricate set of firewalls. Lookout for casinos that payout fast.
How to deposit and withdraw
Online gamblers will realize it is hard to find a banking option that is as easy to use as MasterCard. Whether it's deposits or withdrawals, the Credit card has streamlined their process. They have done this to make sure customers can transact business with their favorite online casinos in a hurry and without hassle. Let's look at the deposit and withdrawal processes.
The process starts with the gambler going to the online casino banking section and clicking on the MasterCard logo. The customer will enter their Creditcard number, expiration date, and CVV code. Once the card information is there, the gambler has to enter the amount of their deposit. At that point, the request goes through the MasterCard system. As long as the gambler has available credit or money in their bank account for a debit card, the deposit will hit their account within seconds.
For the MasterCard withdrawal casino option, there is a two-tiered process. It starts at the casino level where the online casino might have protocols in place for withdrawals. Most likely, the gambler will have to wait out a pending period before a withdrawal request goes through.
On the Creditcard side of the ledger, it's the same process as deposits only in reverse. The gambler goes to the banking section for withdrawals, selects the MasterCard option, enters the card information, enters the amount, and within minutes, the withdrawal amount should go directly to the gambler's credit card. If the gambler is using a debit card, the money should go directly into their bank account. As for the prepaid MasterCard casino option, the process is the same.
With this online casino banking option, reliability is the key. Both online casinos and gamblers love this banking option because it's fast, efficient, and easy to use. When it comes to MasterCard vs Prepaid MasterCard, everything is the same and seamless. That is exactly the way gamblers like it.
As a word of caution, some online casinos will charge fees for this option. If a gambler encounters online casinos that want to charge for withdrawals and deposits via MasterCard, it might a good idea for them to seek out online casinos that don't charge fees.
Finally, name-brand recognition is what makes it so popular for gamblers all over the world. With high credit limits and even higher levels of security, it's hard to go wrong with it. Of course, that is as long as the gambler can manage the associated debt.
Very rare is an online casino that doesn't include it as a primary banking option.
As long as a gambler from Canada isn't trying to transact with an online casino operation operating out of Canada, using MasterCard is a legal and viable banking option.
On the casino end, payouts could take one to five days to clear pending requirements. On the Banking-end, transactions are processed immediately.
Some online casinos charge fees for it while other casinos don't. Gamblers should choose the ones that don't. On the MasterCard end, some transactions go through as cash withdrawals, which carry a hefty service charge of close to 2% of the transaction amount.
With most online casinos, gamblers are eligible for deposit bonuses when they use MasterCard. Check out the best casino bonuses here.