MasterCard Casinos

MasterCard Casino Deposits 101

Mastercard is a name known to anyone familiar with credit cards, and this, of course, includes gambling aficionados. Mastercard is quite popular in the online gambling space, with iGaming devotees from far and wide choosing to rely on their Mastercard-branded bank cards to top up their casino accounts swiftly and without hassle.

Today, Mastercard is one of the biggest providers of credit cards in the world. Its roots, however, date back to the 1960s in New York, when the brand was called MasterCharge. The name chosen by its founders bears some significance, as the word “master” implies dominance and superiority, while “charge” suggests purchasing a product or a service on credit. Very suitable indeed, considering Mastercard went on to become the most widespread credit-card brand in the world.

The company ditched its original brand name for Mastercard in 1979. Forty years after it was founded, Mastercard was listed on the New York Stock Exchange as a publicly traded company. Today, Mastercard continues to focus on mediating safe payments between the banks of sellers and consumers. Figures published by the research portal Statista reveal that there were over 800 million credit cards bearing the brand in circulation worldwide as of the fourth quarter of 2017 alone.

Mastercard is listed as an available payment method on millions of websites and has also become the preferred method of banking for many casino players, with hundreds of virtual casinos displaying the card’s logo in their cashier sections. Many prefer Mastercard to fund their casino play because of the method’s speed, security, and wide availability. If you are a gambler looking to use Mastercard for online casino play, we suggest you stick with us to learn everything you need to know about this popular casino payment method.

Pros and Cons of Mastercard Casinos

Pros:

• Mastercard deposits are supported by most online casinos.
• Mastercard is available worldwide.
• The brand is known for its excellent security.
• Swift deposits.

Cons:

• In some cases, Mastercard bank cards cannot be used for withdrawals.
• Fees may be attached to transactions.

Best Mastercard Online Casinos

One of Mastercard’s advantages is that it is widely accepted by online gambling platforms operating in every corner of the world. However, such variety, while beneficial, can also make selecting a platform difficult, especially for players who lack experience and knowledge in the field. That’s why we bring to your attention 7 trusted, top-notch casinos that have included Mastercard in their list of supported payment methods.

How the Method Works

Mastercard is one of the most widespread payment solutions accepted by online casinos, which is not surprising when we take into account that it is available in more than 200 countries worldwide. This global payment network works with more than 22,000 banks, credit unions, and thrift institutions, which are responsible for issuing and distributing the brand’s cards.

The notion of a credit card is simple. The bank loans you money as credit, which you have to return after a set period of time, normally 30 days. The terms of agreement vary from client to client and from bank to bank, based on the client’s monthly earnings, spending habits, credit rating, etc.

The Mastercard CVV Number and Its Purpose

When you process a payment to your online-casino balance via a Mastercard, the transaction undergoes several steps before its completion. In order to initiate the payment itself, the player needs to provide some banking information, which includes the card’s expiry date, the rightful cardholder’s name, its number, and the CVV (Card Verification Value) on the back. Mastercard CVV numbers consist of three digits, printed below the magnetic stripe at the back of the card.

The main purpose of the CVV is to protect your credit-card transactions against fraud. The online casino you are depositing to needs only your Mastercard number to process the transaction. Online casinos or merchants are allowed to store only your 16-digit Mastercard number. Under the guidelines of the PCI-DSS (Payment Card Industry Data Security Standard), casino operators are prohibited from storing their players’ CVV numbers in their databases, which is why you are required to enter this code repeatedly upon subsequent deposits. The CVV must be provided along with the card’s expiry date and your name as a means of fraud prevention. In fact, this is the sole purpose of the CVV.

The idea is that upon any suspicious activity or security breach of the casino’s database (which is unlikely to happen, but still), fraudsters may gain access only to players’ card numbers. While this sounds scary enough on its own, this information is rendered useless without the CVV, which only the rightful Mastercard owner, i.e. you, knows.

The Steps in a Mastercard Casino Transaction

When a Mastercard payment is initiated by a casino player, the transaction undergoes several stages before the money ends up in that player’s casino balance. The first step is the deposit initiation itself, which is followed by the authentication of the transfer. An authentication request is sent to your bank via the Mastercard network, asking for information to verify the payment.

Your bank would then confirm the card number, the billing address, the CVV number, and whether the balance is sufficient to carry out the deposit. If so, your bank would approve the deposit and would send authorization to the casino’s bank using the Mastercard network.

This leads us to the next step, which is clearing the money from your balance. Your casino’s bank sends the authorized payment data to the Mastercard network, where it needs to be validated. This is followed by the last step, the settlement between the two parties involved in the transaction, i.e. your issuing bank and the casino’s bank.

The deposit is forwarded by your issuing bank to the bank of the online gambling operator, which in turn transfers the sum to your casino account. It sounds overly complex, but one such transaction is usually completed within a few moments, as Mastercard deposits are normally processed immediately.

Mastercard Registration Process

In brief, Mastercard is the intermediary that carries out the transactions between banks and merchants or online gambling platforms when a client uses a credit or debit card to conduct the relevant payment. Unlike e-wallets, there is no Mastercard account registration per se, and in order to use this type of payment method, you must go to the nearest branch of your preferred banking institution and apply for a card. Given the variety of products marketed under the brand umbrella, we recommend that you first visit the official website and become acquainted with their features.

Although financial legislation varies by country, both credit and debit cards can generally be used to fund your online gambling experience. Once you make your choice and the bank issues your Mastercard, you can use it to top up your casino account. Some casinos require their customers to pre-register their cards on the platform, while others’ interfaces allow this during the first transaction. Here are the steps you need to follow:

1. Make sure Mastercard is on the list of supported payment methods.
2. Since this is your first transaction, specify that a new bank card will be entered.
3. Enter detailed and accurate billing information so the casino can verify your account and allow future transactions to go smoothly.
4. It is now time to fill out the card’s details, such as the card number, expiry date, CVV code, name of the cardholder, and currency.

All you have to do is press the Confirm button and the information will be automatically saved in the casino’s database. If you followed the above steps while making your first deposit, you must, of course, specify the amount to be transferred before confirming the transaction. Depending on the specific verification procedures of the casino, the registration of your Mastercard may take between 24 and 72 hours.

Video Introduction of MasterCard

How to acquire a MasterCard

Getting a credit card is a fairly straightforward, albeit slow, process. First, you need to check with your local bank to see what its policy regarding credit is and whether it is authorized to issue physical Mastercard products in the first place. If it operates within the MasterCard network, it will be able to issue these types of cards. Note that there are different types of credit cards like Standard, Gold, Titanium, and Platinum Mastercards, so you’d best check which type is most suitable for your gambling purposes.

Normally you will have to go through a screening process and submit personal information such as your monthly income, name, address, Social Security Number (or your country’s equivalent), and credit history. This information is filled into the application form the issuing bank or credit union will give you. If you do not feel like visiting the issuing bank in person, you can use its website and fill in the application form online. Make sure you input all your information correctly and be honest about your credit history, especially if you are applying for a credit card, since Mastercard is known to offer a range of prepaid and debit cards as well.

Should your request for a credit card be declined, request that the issuer send you a copy of the credit file so you can gain a proper understanding of the reasons. If the bank finds you an acceptable candidate, it will offer you a plan suited to your means and your new card will be shipped to you within the timeframe designated by the issuing institution. This timeframe is largely based on the policies of the particular issuer but usually ranges between 10 days and two weeks.

Depositing to Online Casinos

Using a Mastercard to deposit at online casinos could not be any simpler. When depositing, you must first navigate to the casino’s cashier page, select credit/debit cards from the list of options, and then choose the Mastercard brand from the drop-down menu. You proceed by entering the 16-digit code on the front, the expiration date, the cardholder’s name, and the CVV code on the back. Of course, you would also need to specify the desired deposit amount.

Then you check whether you have entered all the details correctly, confirm the deposit, and that’s it. There is no waiting time, since the payment is completed instantly. It is possible that, when paying with Mastercard for online gambling, fees of 2%-3% may be charged to your account, depending on the casino. Yet, most established casinos defray the transaction expenses for Mastercard deposits. Deposit limits will generally depend on the gambling operator you play with.

Withdrawing from Online Casinos

It is worth noting that Mastercard has adopted its own policies regarding online gambling. Players from jurisdictions where online gambling is illegal or unregulated may hit a snag when attempting to withdraw via Mastercard. If you are a resident of a country like the United States, where gambling on games of chance on the web is largely prohibited, your Mastercard withdrawal may not go through. Banks in the country, including the issuers of Mastercard products, have been instructed not to process payments to such cards should the transaction come from a gambling website.

How do these gambling transactions get recognized as such, though? It all started with Mastercard attaching MCCs (Merchant Category Codes) as a means of distinguishing different types of gambling activities along with the level of risk they entail. For instance, online gambling operators offering products that involve skill to win, e.g. poker, have codes 7994 and 7999 attached to them. These are considered low- and medium-risk activities by Mastercard.

Gambling operators offering games of chance fall under the category of high-risk gaming providers and, as such, have the code 7995 attached to their transactions. This causes withdrawals from such websites to be blocked whenever the transfer is made to a country where online gambling is prohibited.

As of 2015, Mastercard has introduced several new codes that make it possible to distinguish between licensed and unlicensed gambling providers in a given jurisdiction. Online lotteries run by the government have the code 7800, whereas the code 7802 pertains to licensed horse and dog racing operations. Licensed online casinos have the code 7801 attached to them. Still, if you are a resident of the US who plans on gambling at an offshore-licensed casino, we recommend that you do not risk it and instead choose another payment method that will not leave you struggling with declined payments.

Offers from MasterCard

In the event that you do not wish to use a credit card, there are other options that MasterCard provides. MasterCard debit cards are the most widely used after credit cards. They are directly linked to your bank account and do not let you spend more than you actually have. If you are worried about racking up extra charges or overdrafting, this is the best option. In fact, it is much simpler to acquire a debit card than a credit card. There is no screening process or credit-worthiness required. Note that different debit products by the brand are available, for instance Standard, Platinum, and World Debit Mastercards. Each of these cards offers specific benefits, so choose wisely.

Debit Mastercards work roughly in the same manner as credit ones, but the key difference here is that you use the funds already available in your bank account instead of using credit when depositing at your online casino of choice. In other words, your deposit will go through only if you have the requested deposit amount available in your bank account. Again, you will be required to enter the CVV, the card number, your name as the card owner, and the expiry date when initiating the deposit.

Another alternative is prepaid cards. They allow the user to load them with as much money as they find satisfactory and play with only that money. These cards are available at any bank or major point of sale, such as supermarkets. To register one, you need to provide your address and proof of identity. Some points of sale even offer prepaid cards that can be presented to somebody else as a gift. You can activate the gift card at the point of sale directly or later by calling the number printed on the card’s packaging.

Prepaid Mastercard cards are also rechargeable in case you run out of funds. Your options for reloading the prepaid Mastercard are to pay either in cash or by check. This is a better option for gamblers who wish to play responsibly and anonymously, since prepaid cards are not linked to a particular bank account. In fact, having such an account is not even a requirement to obtain a prepaid Mastercard.

Prepaid cards also differ from debit ones where fees are concerned. Debit cards by Mastercard may incur a monthly service fee, but how much depends on the issuing bank. Usually the service charges are negligible, though. Prepaid Mastercards typically have a monthly fee as well, but its purpose is to keep the card active. If you exhaust the entire amount so that the fee cannot be deducted, the card will be deactivated. The bottom line is that you can use any of these types of Mastercards as long as your casino works with Mastercard.

Security

MasterCard is one of the biggest credit-card networks in the world. As such, it has a large client base that constantly uses its cards, and those clients must be protected from fraud. MasterCard cards have chips inside them that drastically reduce the chance of credit-card fraud, to the point that it is nearly non-existent. Additionally, banks protect their clients in case their card information falls into criminal hands, compensating them if someone drains their card or uses it in unintended ways.

Then again, let us not forget about the Mastercard SecureCode, which adds another layer of safety to players’ Mastercard payments. In essence, this is an additional 3D Secure code offered by some Mastercard issuers. When you apply for such a code, you will be issued a special PIN that you need to enter each time you initiate a deposit to your favorite online casino.

When you enroll for your PIN (which you choose yourself), you must confirm your identity as the card owner by providing answers to several security questions. This code serves as an additional barrier that hinders fraudsters from tapping into your banking information, and a large number of online casinos have already adopted it.

Advantages to using MasterCard

Making payments is easy, fast, and accessible. Everyone knows how cards work nowadays and almost everyone has at least one. Online merchants and retailers have adapted to this and are prepared to accept any and all credit cards. You will hardly find a casino that will not take your Mastercard.
You may play with money that you do not currently have on hand when using a credit Mastercard. In truth, this is a double-edged sword, as it can be both amazing and devastating. It is appealing to play with virtually unlimited funds, and it is very easy to lose track of the situation. But when planned with care and restraint, players should experience no trouble and enjoy their time thoroughly.

One of the biggest advantages obviously has to do with security. It is very difficult for Mastercard payments to fall victim to fraud, since CVV numbers are not stored within the casinos’ databases and the transactions are protected by strong encryption. If you add SecureCode into the mix, it becomes even more difficult for fraudsters to succeed.

Additionally, the method allows you to make more sizable deposits, especially in comparison to some other solutions like Paysafecard. This applies to debit Mastercards as well, as long as you have sufficient funds in your bank account. Mastercard owners are also eligible for different discounts the more they use their cards for online purchases—deposits in our case. Of course, these benefits depend on the issuing bank, the country it is based in, and the type of card you own.

Disadvantages to using MasterCard

One of the biggest issues Mastercard users face is having their credit-card withdrawals declined. This stems from Mastercard’s policies we discussed earlier, where the payment network recognizes payments from unauthorized gambling websites to players from specific jurisdictions. Because of this, some casinos that accept these cards for deposits will not support them for withdrawals and will prompt you to look for another way to cash out. This can be quite an inconvenience for some players.

Using a credit card at some online casinos may subject you to extra charges for withdrawals, so you need to consider this prior to choosing Mastercard as a payment method. As we mentioned, these fees are usually negligible, but we still recommend you contact your Mastercard issuer to learn exactly how much you will have to pay in extra charges.

The ease of transactions may cause you to play more than you actually would and lead you to overstep your budget. This is a credit card, after all, so there is a chance that you end up spending way more than you actually have and find yourself heavily in debt. You must always keep this in mind. Going over your credit limit will incur extra fees, which will pile up over time. Of course, this issue is easily solved by applying for a debit Mastercard or using a prepaid one.