If you have ever wondered what are the best payment methods in online sports betting, then this article is intended exactly for you. In it, we will focus on payment cards and try to explain to you the types of payment cards that you can use in sports betting. Each of these types of payment cards has its pros and cons, so we will try to explain their most important features.

Depending on whether you prefer to bet at local and regional sports bookmakers or on the platforms of world-famous companies, deposit options and payouts vary greatly. Unfortunately, many local sports bookmakers still do not realize that the customer comes first, and do not offer their players a sufficient number of quality deposit methods. Luckily, there is almost no sports betting company in the world that takes care of its reputation and does not accept payment cards as a method of deposit and payout.

Payment Cards

Payment cards have without a doubt taken precedence over cash in the modern world, so this type of payment is one of the most popular and most common methods in almost all online sports betting offices and casinos. A large number of reviews of sports bookmakers around the world can be found on the Internet, and there is practically no bookmaker on any of them that has not accepted at least one type of payment card. 

There are several types of payment cards: from credit cards, debit cards, to prepaid cards, but one thing is the same for everyone – ease of use and acceptance by most sports bookmakers. We will now deal with the special types of payment cards that exist.

Credit Cards

If you have ever wondered what the difference is between a credit card and a debit card, in this text, you will be able to comprehend it with ease and, hopefully, understand what the main differences are. Credit cards, as their name suggests, are payment cards with which the bank that issued them allowed you to use both your own funds and the funds with which the bank credits you (hence the name). So, every time you pay by credit card, you actually buy on credit and repay the amount in monthly installments.

What is specific about credit cards is the fact that not everyone can get them because the bank pays attention to whom it issues a means of payment that can be used even if you do not have funds in the account. So, for the most part, credit cards can be possessed by people who are permanent employees or have a regular inflow of money into a bank account. If you plan to use your credit card when depositing in sports bookmakers, you will be glad to know that mostly all online bookmakers accept a credit card as a type of deposit.

Pros

• Generally, much higher deposit limits are set for credit cards than for other deposit methods
• Users can increase their limits
• Basically, all online sports bookmakers accept credit cards as a deposit method
• Credit cards have a higher level of protection than debit cards
• It is one of the fastest and safest deposit methods because deposits are mostly processed immediately

Cons

• Certain banks do not look favorably on sports betting and gambling, and you may have problems with deposits
• Although security when using credit cards is at a high level, there is always a danger of Internet identity theft
• Betting with the money the bank credits you can prove to be a bad idea, as interest is paid on that money
• In some countries, it is not possible to request a payment to a credit card

One of the more important questions, in the end, might be – which credit card to use? If you have not used credit cards so far (which we highly doubt), we can tell you that there are three big companies that are considered leaders in the credit card market: VISA, MasterCard, and American Express. Which of these companies to choose is really not easy to advise as all three are very respectable and professional, and the number of online bookmakers that accept them is large (here you can see which those bookies are). We believe that you cannot go wrong with any of them and, since the topic of this article is not the best credit card, we leave you the freedom of choice.

If you do not have the opportunity to get a credit card or you avoid using it for sports betting as some do, so as not to put themselves in a situation to spend too much, the question arises as to what are your best alternatives. The closest alternatives are definitely debit cards, then digital wallets or, if you are technologically savvy, then some of the more well-known cryptocurrencies. All these methods are equally efficient and high quality, without getting into trouble called a negative balance on a credit card.

Debit Cards

The easiest way to explain the term debit card is that it is a cash payment but with a card. A debit card is a payment card that allows you to pay for goods and services with money from your account, as well as withdraw cash from an ATM at any time if you have funds in it. It is very easy to get a debit card, since all banks in the world issue it when opening a current account. 

There really is no sports betting company in the world that does not accept debit cards, and using them for deposit and withdrawal purposes is very simple. What makes them popular are fast and secure transactions, small fees, as well as ease of use.

Pros

• Using debit cards is, generally, a very secure method of payment
• Increased security due to the existence of a PIN code
• Fast transactions without intermediaries
• Possibility to use them 24/7
• Ease of withdrawing funds from almost every ATM in the world

Cons

• Although the security of using debit cards is at a high level, there is always a danger of Internet identity theft
• Banks regularly charge so-called monthly maintenance fees of these cards
• If you happen to lose your debit card, you may have problems until you cancel it

As you can see, using a debit card can be a very enjoyable experience but it comes with some dangers. If you do not like being exposed to the constant jeopardy of someone accessing your personal and financial data, then it may be better to opt for an alternative method of depositing in sports bookmakers, such as e-wallets or, perhaps, cryptocurrencies.

Prepaid Cards

Prepaid cards have been a very popular payment method in recent years. They have a number of positive things, such as cost control, which is also the perfect way to teach your children how to handle money. The reason for this is simple – you cannot spend more on a card than there are funds on it. For this reason, they are very similar to debit cards but these prepaid cards are, almost all, disposable cards that can be discarded after use.

Pros

• Almost anyone can get them because they are not credit cards and you are not obliged to have a constant inflow of money
• They are widely accepted
• They are great for budget control

Cons

Maintaining these cards can be expensive, as you pay a fee for issuing, renewing, monthly maintenance, etc.

They have a lower level of protection compared to credit or debit cards

If you are planning to get yourself a prepaid card, then it is good to know which are the two most famous prepaid cards in the world of sports betting…

Paysafecard

Paysafecard prepaid card is one of the most famous payment cards of this type used in sports betting and gambling. It is sold all over the world and is popular because it is easy to use, relatively secure, and transactions through it are processed by sports bookmakers instantly. What is especially good about this card is the ability to separate the home budget from the betting budget, which will allow you to make instant deposits and quick payouts, as well as the fact that transactions are relatively secure. 

Currently, between 3,500 and 4,000 online sports bookmakers and casinos accept this prepaid card, and all you need to do is enter a 16-digit PIN code and your funds are instantly in your online account.

The advantages of using Paysafecard are great:

• It protects your personal information because, in addition to the PIN code, you remain anonymous
• Your money is safe
• You have control over your expenses

Entropay

Another popular company that offers prepaid payment card services and which is the most popular among casinos and sports bookmakers right after Paysafecard is Entropay. An Entropay user can choose whether to open a VISA or MasterCard payment card and then start using it. 

We will not deal much with this service here because Entropay is primarily a digital wallet, but we must note that there is an option to take a prepaid card for users, and if you want, we advise you to take this opportunity.

Conclusion

In the end, we will not make a final decision on which option is the best for the simple reason that each type of payment card has its pros and cons, and we are quite sure that there is no perfect type of card. 

Payment cards are suitable for those who do not like to waste too much time when depositing but they are far from not having shortcomings. First of all, by this, we mean security flaws, as well as fees during transactions.