TLDR BetMGM will stop accepting credit card deposits for sports betting and online casino play starting March 31 across all licensed markets. The move puts BetMGM in line with DraftKings and FanDuel, which already banned credit card funding. Several US states including Massachusetts, Iowa, and Illinois already prohibit credit card deposits for gambling by law. New York, New Jersey, Maryland, Virginia, and Maine are advancing bills to restrict credit card use in online betting. BetMGM was recently fined $100,000 in Pennsylvania over weak identity verification that allowed fraud rings to operate on the platform.
BetMGM confirmed it will no longer accept credit card deposits for online sports betting or casino accounts. The company made the announcement during a regulatory hearing in Pennsylvania.
The ban takes effect on March 31 and applies to every US market where BetMGM holds a license. Cards already linked to accounts will be blocked, and new credit cards will not be accepted going forward.
BetMGM is a joint venture between MGM Resorts and Entain. The operator runs one of the largest online gambling platforms in the country.
The decision brings BetMGM in line with DraftKings and FanDuel. Both competitors already rolled out their own bans on credit card deposits earlier.
DraftKings introduced its ban last August. The company said the move would help customers avoid cash advance fees and high interest charges tied to card funding.
That decision came after DraftKings was hit with a $450,000 fine from the Massachusetts Gaming Commission. Massachusetts law prohibits licensed operators from accepting deposits or wagers via credit card.
FanDuel followed with its own nationwide ban earlier in March. However, FanDuel’s Canadian operations remain unaffected by the change.
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