Experts: Gambling Operators Banning Credit Cards Would Not Hurt Income
Industry Experts on Banning Credit Card Payments
Many gambling and sports betting companies have started to prohibit the use of credit cards for deposits as a form of self-regulation. While some worry this move could reduce revenue, industry experts believe any negative financial impact will be minimal.
Insights from Analysts
Jordan Bender, an equity research analyst at Citizens JMP Securities, highlighted that the overall effect of banning credit card deposits is expected to be insignificant. He referenced DraftKings’ decision to stop accepting credit card deposits in September, noting the betting activity remained largely unchanged afterward. The company’s feedback suggested that savings from lower processing fees were too small to influence overall performance.
Similarly, Sam Ghafir, an analyst at Macquarie Capital, commented that the long-term impact of banning credit card deposits will likely be limited. With various states already imposing legal restrictions on credit card use for gambling, companies like Flutter Entertainment reported no noticeable loss in revenue when they removed credit card payment options.
Ghafir also pointed out that credit card deposits are often used disproportionately by new and casual bettors. These deposits tend to be smaller and more frequent, often linked to spontaneous or in-play betting.
Legal Restrictions and State Movements
Several states including Iowa, Massachusetts, New Hampshire, Oregon, Rhode Island, Tennessee, and Vermont have already forbidden the use of credit cards for gambling transactions. Other states such as New York, Illinois, and Virginia are currently considering similar bans. Additionally, New Jersey is exploring a potential prohibition on credit card gaming payments.
Operators Leading the Initiative
DraftKings proactively implemented their credit card deposit ban across US sports betting and iGaming platforms in August 2025. The company framed this as a strategic decision focused on helping customers avoid extra fees.
FanDuel followed suit, announcing a US credit card ban effective from March 2, 2026. This came shortly after Senator Elizabeth Warren raised concerns about exploitative credit card fees charged by sports betting platforms.
BetMGM has also joined this trend, gradually discontinuing credit card payments for customer accounts and rejecting new ones.
Interestingly, Fanatics has never accepted credit card deposits since launching its sportsbook in 2023. A company representative confirmed that excluding credit cards was a core principle and expressed satisfaction that other industry players have adopted similar policies.
