BetMGM Follows Rivals on Credit Card Deposit Ban

BetMGM is pulling back from credit card deposits in the US. From March 31, customers can no longer add new credit cards to their accounts, and the operator said the rest of the credit card phaseout will continue after that, although no final cutoff date has been disclosed.

Good to Know

• BetMGM said new credit cards can no longer be added starting March 31.
• The company disclosed the plan during a March 25 appearance before the Pennsylvania Gaming Control Board.
• DraftKings and FanDuel have already taken similar steps in the US market.

BetMGM Starts Credit Card Exit

The policy came up during a March 25 meeting of the Pennsylvania Gaming Control Board, where BetMGM was fined $100,000 over know your customer failures, according to Gaming America. During that session, PGCB Chair Denise J. Smiley asked whether the company was looking at credit cards and how they were being used. BetMGM said yes, and chief compliance officer Rhea Loney then confirmed the phaseout plan.

Loney said: “In the coming days, as of March 31, we will no longer be allowing credit cards, new credit cards to be added to the accounts for individuals, and it is a phasing out of credit card usage on the BetMGM platforms.”

The change puts BetMGM in line with a wider operator trend. DraftKings removed credit cards as a deposit option in the United States last August, calling it a strategic business decision tied to customer experience and the risk of cash advance fees and higher interest rates. FanDuel has also stopped allowing credit card deposits in the United States across sportsbook, casino, and racing products.

Fanatics Betting and Gaming, according to your source material, never offered credit card funding to US customers. That leaves BetMGM as the latest major operator to step away from the payment method as the industry keeps tightening responsible gambling and payment controls.

FAQ

When does BetMGM stop allowing new credit cards?

March 31. Existing credit card deposits will be phased out after that, but BetMGM has not announced a final end date.

Why did the issue come up publicly?

BetMGM discussed it during a March 25 Pennsylvania Gaming Control Board meeting where the company was also fined over KYC issues.

Which other major operators already dropped credit cards?

DraftKings and FanDuel have already removed credit card deposits in the US.

Did BetMGM give a final cutoff date for all credit card deposits?

No. The company has only confirmed the start of the phaseout and the March 31 block on adding new

cards.

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