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Introduction to Mastercard

mastercard

Mastercard is a technology company operating in the global payments industry and is undoubtedly the biggest rival to Visa.

The company connects financial institutions, merchants and consumers, enabling them to use electronic forms of payment instead of cash and cheques.

Mastercard’s business, which has its headquarters in New York, extends to more than 210 countries and territories including Canada.

It is a popular payment method on numerous betting sites, with many leading operators such as Betway and Intertops offering it is an option to their customers.

Available to use on desktop, laptop, tablet and mobile, Mastercard is a great way for punters in Canada to fund their online betting.

Advantages and disadvantages of using Mastercard

Pros

  • Mastercard is one of the most convenient ways you can conduct financial transactions at an online betting site, taking just a couple of minutes to register.
  • Many leading operators offer special bonuses for depositing funds via Mastercard.
  • Most bookmakers don’t charge fees for using Mastercard on their site.
  • Mastercard deposits are usually applied instantly to your betting balance.
  • Withdrawals are generally processed quickly via Mastercard, taking around 2-3 working days to be credited back to your account.
  • With over 50 years’ history in the financial payments industry, it is fair to say that Mastercard is one of the most reliable ways to fund your betting account.

Cons

  • Some card providers do apply fees for gambling payments via Mastercard, so make sure you fully understand the small print before using this method to fund your betting.
  • Not all betting operators offer Mastercard as a payment method, so check whether it is an option before signing-up for an account.
  • Although you can use a Mastercard credit card to make deposits, this should be avoided if you are not planning to clear the balance before interest is applied.

How to deposit funds using Mastercard

When you first sign-up for an account with a bookmaker always make sure that they offer your preferred payment method.

Mastercard is generally located towards the top of the list, often in close proximity to Visa cards, making it extremely easy to access.

Most reputable firms offer generous deposit limits, meaning Mastercard is a suitable payment method for all types of punters.

You will need to register your payment details including card number, expiry date and the three-digit security code on the reverse of the card.

Once this is completed, simply enter the amount you wish to deposit and click the appropriate confirmation button.

Within a few seconds your funds will be credited to your account and you will be able to start betting on your favourite events.

New customers may be required to complete a further identification process, but this should not take too long to complete.

Registering with a reputable site helps to ensure your Mastercard transactions will be secure, giving you peace of mind that you can use this method safely.

How to withdraw funds using Mastercard

If you have deposited via Mastercard the majority of betting sites in Canada will also allow you to withdraw funds via this method.

To start the withdrawal process, login to your account and visit the banking section of the site before selecting ‘Withdraw’.

Click on your favoured withdrawal method – you will normally be directed to the same one with which you made a deposit.

Enter the amount you wish to withdraw and click the appropriate confirmation button to complete the request. Some bookmakers process withdrawals immediately, while others may take up to 48 hours.

Some operators give you the option to reverse a withdrawal request within a set time frame if you decide you would rather leave the funds in your account to continue betting.

Most bookmakers usually quote around 3-5 working days for Mastercard withdrawals to hit your account, but check the terms and conditions on your chosen site for more accurate information.

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