TLDR BetMGM is banning credit card deposits starting March 31, joining DraftKings, FanDuel, and Fanatics in dropping credit card funding across US platforms. Analysts from Citizens JMP and Macquarie Capital say the revenue impact will be “minimal,” noting DraftKings saw no material change after its own ban in 2025. Macquarie estimates credit cards fund only 10% to 20% of US gambling deposits, with most volume expected to shift to debit, ACH, and digital wallets. Several states including New York, New Jersey, Virginia, and Illinois have introduced bills to ban credit card use for online sports betting. Fanatics says it has never accepted credit card deposits since launching as a sportsbook in 2023.
BetMGM announced last week that it will begin phasing out credit card deposits starting March 31. The company revealed the policy change during a public meeting of the Pennsylvania Gaming Control Board on March 25.
During the meeting, the PGCB fined BetMGM $100,000 for insufficient know-your-customer protocols. Chief Compliance Officer Rhea Loney told the board that new credit cards will no longer be accepted on BetMGM platforms.
The move puts BetMGM in line with the other major US sportsbook operators. DraftKings, FanDuel, and Fanatics have all already banned credit card deposits.
DraftKings dropped credit card funding in August 2025. The company called it a “strategic business decision” aimed at helping customers avoid extra fees.
FanDuel followed in February 2026, with its ban taking effect on March 2. That decision came shortly after Sen. Elizabeth Warren sent a letter to major operators requesting information on credit card betting fees.
Fanatics has never accepted credit card deposits. A spokesperson said the policy was a “foundational promise” when the sportsbook launched in 2023.
Analysts Expect Little Financial Impact
Despite a 2025 survey showing that 24% of sports bettors