(AsiaGameHub) – BetMGM is scaling back on credit card deposits in the US. As of March 31, customers will no longer be able to add new credit cards to their accounts, and the operator stated that the broader phaseout of credit card usage will proceed beyond that date, though a final termination date has not been revealed.
Good to Know
- BetMGM has indicated that new credit cards will no longer be addable as of March 31.
- The company revealed the plan during a March 25 presentation to the Pennsylvania Gaming Control Board.
- DraftKings and FanDuel have already implemented comparable measures in the US market.
BetMGM Starts Credit Card Exit
The policy was discussed during a March 25 meeting of the Pennsylvania Gaming Control Board, where BetMGM was penalized $100,000 for know-your-customer (KYC) shortcomings, as reported by Gaming America. During the meeting, PGCB Chair Denise J. Smiley inquired whether the company was examining credit card usage and how these cards were being utilized. BetMGM affirmed this, and Chief Compliance Officer Rhea Loney subsequently confirmed the phaseout strategy.
Loney said: “In the upcoming days, effective March 31, we will cease permitting new credit cards to be added to individual accounts, and this marks the gradual discontinuation of credit card use on the BetMGM platforms.”
This adjustment aligns BetMGM with a broader industry trend among operators. DraftKings eliminated credit cards as a deposit option in the US last August, citing it as a strategic business move linked to customer experience and concerns over cash advance fees and elevated interest rates. FanDuel has also halted credit card deposits in the US across its sportsbook, casino, and racing offerings.
Fanatics Betting and Gaming, based on the provided source material, never offered credit card funding to US customers. This positions BetMGM as the most recent major operator to abandon the payment method as the industry continues to strengthen responsible gambling and payment regulations.
FAQ
When does BetMGM stop allowing new credit cards?
March 31. Existing credit card deposits will be phased out following this date, though BetMGM has not announced a final termination date.
Why did the issue come up publicly?
BetMGM addressed the matter during a March 25 meeting of the Pennsylvania Gaming Control Board, where the company was also fined for KYC-related issues.
Which other major operators already dropped credit cards?
DraftKings and FanDuel have already discontinued 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 initiation of the phaseout and the March 31 restriction on adding new
cards.
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