As the owner of an online gambling business, it probably comes as no surprise to you to learn that customers would prefer to pay using their credit card. After all, this method is one of the safest and most secure ways to spend money on the internet.  But while it is perfectly legal for you to accept credit cards for gambling, to provide it as an option for your customers, both you and your patrons may have some unexpected surprises in store.

Online gambling and credit card companies.

Even if your state has legalized internet sports betting and casinos and in spite of the fact that there are no state or federal laws against paying for this pastime with plastic, your card company might see the situation differently. 

It turns out that most of the major providers make it difficult for players to fund their gaming via credit card. Card companies that do allow these payments will often make customers pay extra for the privilege.

Like it or not, your online gaming business is the “face” in these situations. You will be the one that customers blame when they are hit with additional charges on their credit card related to their activity on your website.

These costs can come in various forms. At the most basic level, the provider might decline the payment as soon as they discover the nature of the website. If they do agree to the transaction, they might consider it to be a cash advance. 

This causes the customer to be hit with additional fees, withdrawal caps, and higher APRs that begin to accrue immediately. In short, the “convenience” of paying with a credit card can come with declinations, frustration and steep, and often unexpected costs.

Your best bet for online payments.

Your high risk merchant account provider is in business to help you receive everything your online betting or casino company needs to thrive. That includes providing you with the ability to take payments in multiple forms — and that includes credit cards.

And because it is totally legal to give customers the option to fund their gambling in this way, many payment processors encourage you to do so.

That being said, promoting transparency in all aspects of your dealings with customers will help to burnish your brand and separate you from less scrupulous competitors. Taking the time to inform players about the pros and cons of various payment methods may require some initial effort on your part, but it will foster a higher level of customer engagement, trust, and, ultimately, retention.

To that end, one of the most important parts of your website should be the “payment terms and conditions” section. Go over every word of this page carefully, ideally with your legal consultant, to ensure that the language is both clear and complete.

Specifically, make it a point to detail all fees and charges that your site imposes. Further detail the potential pitfalls that come with paying via credit card, i.e., possible declination, elevated fees, and higher interest.

While you’re at it, use the same precise verbiage to craft all descriptions of your bonus offers and promotions. Misleading terminology or confusing definitions of betting concepts can lead to problems down the line in the form of disgruntled betters and disputed charges.

Additionally, provide your customers with an easy way to track their bidding, deposit, and withdrawal history. This can furnish players with the same transparency they would normally receive when paying with a credit card even if they choose to fund their account via debit card or other options.

A primary way to ensure that customer experience is positive and seamless occurs through the client services you offer. When customers have questions about the pros and cons of various payment methods, including credit cards, they will appreciate prompt, accurate assistance from one of your friendly and knowledgeable representatives. 

In an industry where 24/7 service is vital, your resources should be strongly allocated toward providing the highest level of client assistance both day and night.

When people come to your gaming website, winning is their primary objective. While they are probably not dedicating much mental energy to what their payment experience should be like, they will value your efforts to promote ultimate clarity and transparency, including when it comes to paying with a credit card. 

The bottom line.

Accept credit cards while providing full disclosure about their pros and cons. At the same time, let patrons know that using a debit card instead can lead to a less complex and more affordable payment experience.