MasterCard are one of the largest payment issuers in the world. Headquartered in the United States, MasterCard are now responsible for an average of 24,000 transactions per second, covering more than 150 different jurisdictions. In a nutshell, MasterCard sits in-between your financial institution and the merchant.
What is MasterCard?
For example, let’s say that your UK bank gives you a MasterCard debit card. That means that whenever you use it to pay for goods or services, MasterCard facilitate the transaction. In doing so, they will take a fee from the respective merchant, which in most cases, isn’t passed on to the customer. MasterCard can be used online, over the telephone and of course, in person.
In our MasterCard casinos guide, we are going to discuss how the deposit and withdrawal process works, alongside a brief mention on some of the most notable offers and promotions.
How does MasterCard work?
MasterCard are a payment issuer and as such, they allow you to spend your money online. They can come in the form of a debit card, credit card, pre-paid card and even a virtual card. This will depend on the financial institution that provides you with the card. No matter which of the aforementioned you have, the process is very similar across the board.
Your MasterCard will contain 16 digits across the front of the card. You will also have an expiry date, which is identified as the month and year (for example 04/19 would be April 2019). You might also have an issue date, which is in the same format as the expiry date. On the back of the card, you will have a CVV number, which is 3 digits.
The details found on a MasterCard are highly sensitive, meaning that you should never share them with anyone else. To help protect the security of your account, some MasterCard casinos have something called ‘MasterCard Securecode’. This is an extra level of security and requires you to set up a password. In order to do this, you need to provide a range of personal information, such as your date of birth and account number, alongside the data found of your card.
As soon as you enter your card details to make a deposit at MasterCard casinos, your account is automatically debited. This means that you can’t overspend, unless you have an overdraft attached.
In terms of fees at MasterCard casinos, this will depend on a number of things. Notably, it is the underlying financial institution that will determine how much you are charged.
So now that you know how MasterCard works, in the next part of our MasterCard casinos guide we are going to look at the deposit and withdrawal process.
How do I deposit at MasterCard casinos?
Using a debit/credit card such as MasterCard is by far the easiest way to deposit funds in to an online casino. The key reason for this is due to the speed and ease at which you can get funds in to your MasterCard casinos account.
All you are required to do is enter the 16 digit number, the expiry date and CVV number in to online casino, alongside the amount you want to deposit, and your funds should get credited instantly. In some cases, you will be asked to enter the MasterCard Securecode password, although you may only be asked for this the first time.
Next time you decide to deposit, MasterCard casinos will automatically save the details you entered, which means that future deposits will only need your CVV number.
How do I withdraw at MasterCard casinos?
This is potentially the most important section to our MasterCard casinos review, as it concerns withdrawals. Not so long ago, it was perfectly fine to both deposit and withdraw via a MasterCard, however this isn’t always the case now.
A lot of MasterCard casinos are unable to process withdrawal requests back to MasterCard, because the underlying system rejects the transaction. If this is the case, then you will need to withdraw using another method, which is likely to be a bank wire.
The general consensus appears to be that you have more chance of being able to withdraw your winnings back to a MasterCard if your card is issued by a UK bank. However, it is always best to check with MasterCard casinos prior to opening an account.
If you are able to withdraw back to a MasterCard, then the process will take in the region of 3-5 working days before it shows up in your account. In most cases, debit card providers are quicker than their credit card counterparts. In terms of fees, MasterCard casinos may charge a small fee to withdraw back to a MasterCard, however some operators provide this service free of charge.
Finally, as per KYC (Know-Your-Customer) regulations, MasterCard casinos will likely ask you to take a copy of the front and back of your card prior to making your first withdrawal, with the view of validating that you are the true owner of the card.
MasterCard Casinos- Pros and Cons
- Instant deposits
- Deposits are sometimes free, but it depends on the operator
- Future deposits are easy as all you need to enter is your CVV
- Some operators do not allow withdrawals back to MasterCard
Best MasterCard Casinos Promotions and Offers
So now that we have covered the key advantages and disadvantages to using MasterCard casinos when depositing and withdrawing funds, we are now going to cover some of the most notable promotions available at MasterCard casinos.
William Hill are a hugely popular UK based gambling operator with a large share of both the high street betting shop and online space. By registering an account for the first time, MasterCard casinos such as William Hill offer a 100% matched buy-in bonus up to £300. The wagering requirement has been set at 40x, which is fairly reasonable for an offer of this magnitude. To note, William Hill state that non-UK MasterCard withdrawals may not be accepted.
Betvictor casino, formally known as Victor Chandler (VC) bet, are one of the longest serving online bookmakers. This particular MasterCard casinos operator covers casino games, live dealers, slots and a full sports betting facility. Betvictor offer new customers a ‘Bet £10, Get £50’ offer. Betvictor explain that you will be unable to withdraw funds back to a MasterCard if the currency is anything other than GBP, Euro or US Dollar. Moreover, if you are using a non-UK bank, such as Santander or Metro Bank, then you will not be able to withdraw funds back to your MasterCard.