MasterCard Casinos

mastercard-logoMasterCard is one of the more popular deposit options at online casinos, and there is no dearth of those who are accepting this famous card. The best option for MasterCard credit, debit, or prepaid card holders who register real money accounts at online casinos is to use their card to fund their accounts instead of wasting time with other payment methods that might be more of a hassle or takes a lot longer time to process. Since MasterCard has a global presence, it is one of the safest, quickest, most reliable, and convenient of online casino deposit methods.

Although US-facing online casinos offer MasterCard as a deposit option, most US players will find it impossible to use their MasterCard because of US gambling laws, such as the Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006, which makes it illegal for US banks and financial entities to process funds related to gambling. US players might therefore find that their MasterCard transactions are rejected and be forced to try alternative payment methods such as online payment processors or eWallets.

Using one’s MasterCard at online casinos is similar to using it to purchase goods and services online. Players are required to visit the casino cashier and select it as a deposit method. They will then be prompted to input card details such as card number, security number, expiry date, name, address, and so on. The next step is to confirm the deposit amount and the funds will be directly credited to players’ online casino accounts.

Brief Overview of MasterCard

MasterCard is one of the leaders in the payment processing industry. The company’s aim is to make international financial transactions safer by eliminating the need to use checks and cash. MasterCard serves a large number of merchants, service providers, banks and financial institutions, consumers, and governments all over the world.

MasterCard does not issue credit, debit, prepaid, and gift cards to consumers worldwide. The company also has nothing to do with setting fees and interest rates, providing credit, and so on. The above-mentioned is done by banks and financial institutions associated with the card company and their only job is to make payments easier and more secure, where MasterCard handles hundreds and thousands of financial transactions everyday.

How MasterCard Works

A typical MasterCard transaction includes three phases—authorization, clearing, and settlement. In the first phase, the consumer who wishes to purchase an online product or service provides his/her card details to the service provider. In case of online casinos, players provide their card details after selecting MasterCard as their deposit options. The online casino’s bank then sends a request to MasterCard to determine the player’s bank. The authorization system at MasterCard then approves the sending of purchase details to the players’ bank for approval, after which the player’s bank approves the purchase or the online casino deposit.

In the clearing phase, the online casino’s bank sends information related to the deposit to MasterCard, after which MasterCard validates it and approves the sending of that information to the player’s bank.

In the settlement phase, the online casino’s bank reimburses the amount to the online casino, and the player’s bank either bills the player or withdraws the amount from his/her personal banking account.

Important Tips for Players

The advantages of using MasterCard, as mentioned above, are many. But there are a few disadvantages as well, which players need to bear in mind before using their MasterCard to make a deposit. MasterCard is not for players who dislike parting with card details. Online payment processors or eWallets are ideal for players who wish to remain financially anonymous at online casinos. Besides, players cannot withdraw their winnings into their MasterCard and will have to set up another banking method for withdrawals.