Brits were barred from making deposits and withdrawals with credit cards in April 2020, four whole years ago. However, a long list of UK-licensed betting sites still allows you to use Mastercard for deposits and withdrawals. What many may find even more strange is that it is entirely legal.
To understand why this is the case, we sat down with renowned industry expert Joonas Karhu, who currently serves as the CEO of the popular UK comparison platform Bojoko. Just looking at their overview of betting sites with Mastercard, we see that a very large number still offer this payment method.
In this interview, we will delve into the legalities, explore why players should consider this option, discuss the benefits Mastercards still offers UK players, and discuss how its popularity has been affected since the ban on credit cards four years ago.
Let’s start with the most important thing. Could you explain how players can continue using Mastercard despite the credit card ban?
It is quite simple, really. While the credit card ban prohibits the use of credit cards for gambling transactions, players can still use Mastercard as a debit card. Transactions made with Mastercard are immediately deducted from your available account balance. In other words, unlike using a Mastercard as a credit card, you’re not borrowing money when using it as a debit card. Instead, you’re spending the money you already have in your account.
In that case, what are the key benefits for players in using Mastercard as a debit card for their gambling transactions?
Frankly, the main reason is familiarity and accessibility. There aren’t really many notable distinctions between using Visa or Mastercard debit. We have seen a few issues with Mastercard withdrawals after the ban, as there was some confusion, but generally, there should not be any issues. If you have a Mastercard and you prefer making payments with your Mastercard, it is an eligible option. There may also be certain fringe benefits from using Mastercard itself, but this depends on the type of Mastercard set-up you have. It may be worth looking into.
How has the popularity of using Mastercard as a debit card for gambling transactions evolved since the credit card ban four years ago?
Following the credit card ban, we’ve seen a notable shift towards alternative payment methods, especially e-wallets. Many players have adapted to this change by embracing Mastercard as a debit card. It might surprise you, but Mastercard remains a popular and widely used payment method.
What advice would you give to players who are considering using Mastercard as a debit card for their gambling activities?
I would encourage players to approach gambling with a responsible mindset, regardless of the payment method they choose. Using Mastercard as a debit card provides a secure and convenient way to fund their accounts while maintaining control over their spending. However, it’s essential for players to set limits, monitor their transactions, and seek support if they feel they may be developing problematic gambling habits.
