BOSTON–With college and professional football about to begin, DraftKings has announced will no longer be accepting credit cards as a means for users to fund their gambling accounts.
The company, which cited consumer protection in making the announcement, is just the latest online gambling operator to prohibit credit card deposits, joining of Fanatics Betting and Gaming, Betr, and Sporttrade in making the move.
In an email to customers, DraftKings said any stored credit cards will be disabled from making deposits, and that any future attempts to add a credit card for depositing will also be disabled.
“DraftKings has made the strategic business decision to remove credit cards as a deposit option for sportsbook and casino in the United States,” a spokesperson said in a statement. “The change is intended to help customers avoid cash advance fees and higher interest rates often associated with this payment method and otherwise improve the deposit experience.”
DraftKings stated that most customers don’t utilize credit cards for making deposits.
$450K Fine
DraftKings was recently fined $450,000 by the Massachusetts Gaming Commission (MGC) for improperly accepting over 1,000 sports betting wagers that were funded through credit cards.
Along with the fines, DraftKings was required to refund $83,667.92 in credit card wagers to 218 customers.
DraftKings stated the policy change was unrelated to the fine.
Payment Options
While credit cards are no longer accepted, DraftKings Casino provides plenty of deposit options for users, including:
- ACH/e-check
- Apple Pay
- Bank/Wire Transfer
- Debit Cards
- Gift Cards
- PayPal
- Venmo
DraftKings said it also allows for payments to be made a select retail casinos or participating retail stores. The operator gives users a barcode to scan and present to a cashier. Then, the customer can give cash that will be deposited into their online account. Deposits can range from $5-$500 per day.
