Back in April 2020, the UK outlawed credit cards for betting deposits. This has led punters to seek alternative payment methods. Mastercard is a well-known, trusted payment network that’s popular with UK bettors. You can still use a Mastercard debit card at a wide variety of sportsbooks and online casinos.
In this guide, I explain how Mastercard betting sites and casino transactions work, detailing the main pros and cons, are there any fees? And how Mastercard stacks up to other payment methods. Plus, what to look for in top Mastercard casinos or sports betting sites.
Pros & Cons of Mastercard as a Payment Method
Like Visa payments, the majority of online betting sites accept Mastercard payments (bar a few exceptions). Many UK bank accounts issue Mastercards, so it’s a convenient way to pay. Your deposits are instant and secure, using the latest encryption technology.
Using Mastercard means you typically qualify for a bookmaker or casino welcome bonus. And there’s no restrictions for using it to claim follow-up promotions either.
Also, Mastercard issues prepaid cards that work in a similar way to debit cards. But these cards are not linked to your main bank account.
- Mastercard Pros
- Accepted at most betting sites
- Convenience of using a Mastercard debit card
- Secure instant deposits
- Useful for bonus qualifying deposits
- Mastercard Cons
- Withdrawals can take a few days
- Payments are not anonymous – show on bank statements
- Possible blocked payments
Does Using Mastercard Require an Account?
When using Mastercard, you don’t need to register for a specific account. Rather, you just need a Mastercard debit card issued by banks when you open a UK bank account.
Mastercard Deposit
How to deposit at Mastercard casinos or betting sites:
- From a UK betting site homepage, click on the relevant “Deposit” or “Cashier” button.
- Choose “Debit Card” and “Mastercard” from the dropdown menu or the choices available.
- Enter your deposit amount in British Pounds (GBP). Input your 3-digit CV2 code (last 3 digits on the back of your card) and press “Deposit”.
- Mastercard usually asks you to input a one-time passcode to verify the deposit (check your bank app, mobile phone, or email).
- The cash goes straight into your betting account.
That’s it, you’re all set to play – with no waiting time for the deposit to approve.
The above process is easy to complete, whether you use a desktop screen or your Apple or Android mobile device.
Mastercard Withdrawal
To get access to your betting winnings, here’s how you start a Mastercard withdrawal. It works much like a deposit.
- On the betting website, click through to the “Cashier” or “Banking” icon and choose “Withdraw”. You must withdraw to the same card you used to deposit funds.
- Decide the cash amount to withdraw, pick up your Mastercard, and confirm.
- The withdrawal will land in the bank account linked to your Mastercard. A typical timeframe is 1-10 business days.
Whether you withdraw using a home computer or mobile device, it takes only a few clicks.
Mastercard Fees in the UK
Mastercard doesn’t charge for depositing or withdrawing funds on betting sites. And there are zero hidden charges. Individual bookmakers may have transaction fees, but this is rare in the UK betting scene.
How Does Mastercard Compare to Other Payment Methods
There are many reasons to consider using Mastercard. First, most gambling sites accept Mastercard payments. Also, many customers already have a Mastercard, and it’s a familiar payment method. Plus, there’s no need to sign up for a new account or e-wallet like PayPal.
With Mastercard, your deposits are instant. So you can begin betting or playing without delays.
Banks that issue Mastercards are FCA-regulated. Mastercard uses fraud protection, including encryption, 2-step authorisation, and chargeback rights for payments. So, there’s more customer protection than e-wallets, using safeguards to prevent unauthorised transactions.
Many casino and betting sites allow Mastercard deposits for bonuses and promotions. This isn’t always the case for e-wallets such as PayPal, Neteller, and Skrill.
Mastercard transactions don’t usually involve any fees. Whereas with e-wallets like Neteller you may pay a 2.5% fee to top-up your Neteller account by debit card. Plus, fees to withdraw funds back to your bank.
Mastercard Alternatives
There are so many alternatives to Mastercard. I narrowed the options down to 5. If you find Mastercard not accepted by bookies, Visa or Revolut work in a similar fashion. While EcoPayz, PayPal, and Skrill transactions won’t show in your main bank account.
- Visa
- Revolut
- EcoPayz
- PayPal
- Skrill
How to Choose a Mastercard Betting Site or Casino
- License and security – A UK Gambling Commission (UKGC) or similar licensing is key. Find licensing information on the bookie’s website footer.
- Bonus offers – View the bookmaker’s terms. Check that they accept Mastercard payments to play with bonus offers and promotions.
- Payment terms – You expect Mastercard withdrawals to take up to 5 days. But check for Mastercard betting sites that don’t have excessive processing times.
- UX & transactions – You also want a site that makes moving your money into and out of bookies easy. Meaning a clear, logical website or mobile app user experience.
- Sports betting features – A Mastercard betting site should feature sports like horse racing and football. With in-depth markets, top odds, in-play bets and live streaming.
- Brand standing – Positive customer reviews and testimonials show a reputable casino or sportsbook. One that focuses on customers’ needs.
Common Problems & Solutions When Using Mastercard
- Declined deposits – If a betting site refuses your deposit, check you’ve used the right card information. Typing in incorrect data is a simple mistake.
- Withdrawal in process – This indicates a possible card issue. Check that your Mastercard hasn’t expired. If so, update your debit card information in your bookie account.
- Account not verified – Is this your first Mastercard payment? The bookmaker may want to complete a verification or KYC (Know Your Customer) process. Check that your Mastercard card details match your identification documents provided.
- Bonus rejection – It’s not a common situation, as Mastercard usually gets accepted for bookie bonuses. If you get rejected for a bonus, read the bookmaker’s T&Cs to see if they’re updated to exclude Mastercard.
Final Verdict – Is Mastercard Right for You?
If you prefer to keep things simple and don’t fancy opening an extra e-wallet account. Or if you’d rather not wait for a bank transfer to clear. Mastercard is a solid choice. Like the Visa payment network, Mastercard has many plus points. From instant bookie deposits to no worries about exclusion from bonus offers. Just look out for the rare bookies that do not accept Mastercard payments.
FAQ
Is Mastercard legit and secure?
Mastercard is a legit payment option, authorised by the UK Financial Conduct Authority, with attention to details like SSL-encrypted secure payments.
Is Mastercard a common payment method among UK betting sites?
While not as popular in some quarters as Visa, Mastercard is one of the top ways to transact on UK betting sites.
Are there any fees for using Mastercard?
A benefit of Mastercard is its zero fees for betting transactions. The only possible fees are for payments in different currencies or international payments.
Are there any bonuses and promotions with Mastercard?
Most bookmakers will allow you to deposit with Mastercard and claim bonuses. Including welcome offers and reload promotions.