What is the best possible payment method for betting experience? A good method would allow you to be able to deposit your funds to engage yourself in betting activities then withdraw your earnings and profits that you have taken from your betting endeavours.
Whilst we have already given you a very informative guide on our own page involving payment methods’ links with the best-known bookmakers, we’re bringing you a competitive guide that will pit Mastercard against VISA in terms of which is the more ideal way to pay when it comes to betting.
Gunjan Kochrekar took a deeper look at how the two methods pan out between each other, plus their advantages and disadvantages which will play a crucial part in foundation how the write-up will end.
So to begin we will first flat out and analyse both of the method’s backgrounds and their trustworthiness like a mind map.
Mastercard was active all the way from 1966 and is still widely used nowadays. There’s been no big notable incidents regarding how they’ve been run and have a headquarters based in the USA, New York.
Whilst VISA are also very old as they have been founded in 1958 under a different name. Ironically, it was a frequent competitor with its counterpart Mastercard. Similar to their competitor they are also American but based in California.
What it seems like is that both companies have been well run and seem just as trustworthy as each other – so we will leave this one as an equal element for both sides. However, what concerns us more is how effective each method would be in terms of usage in the betting scene.
This is where the betting concerns really begin to take off. Now that our history lesson is over, we’ll take a look at the technical side of things and take a look at how ideal the two competitors are in terms of times, fees and limits for a bettor.
Mastercards have been one of the most used payment methods at betting sites and most have made it an instant deposit time for it. You’ll not need to worry if you have a Mastercard and you want to put a stake on something real quick.
While being generally ideal to deposit with, there may be some concerns to do with withdrawing money. You’ll find that Mastercards can be pretty complicated when it comes to withdrawing money internally with businesses, so there are now quite a few Mastercard bookmakers that choose not to process the money back to those cards.
Visa, being Mastercard’s industrial rivals will need to match the quality they have shown. Also another popular payment method when it comes to bettings, they will always process your deposits instantly with every eligible bookmaker
Visa also allows its players to save the details with the bookmaker using encryption tech, making it safe and more convenient. The one major downside to using Visa is that you may need to wait a while for withdrawals to process- but they are at least possible!
Thanks to their extra work in allowing withdrawals to happen, it seems like Visa is the more ideal option in terms of this department.
Now we’ll enter the world of safety procedures and how each company will keep your information safe or in the worst case- losing your card.
You’ll most likely not suffer any problems with Mastercard as their record with preventing fraudulent transactions and crime prevention is absolutely brilliant. They are hellbent on stopping any sort of shenanigans and will help you out as soon as possible.
Visa tends to use encryption like we specified just before. They will cancel your card if your details are compromised or if you lose your card very swiftly, but we think Mastercard will take the points for this section.
Thanks to all of the above insight we’ll be able to round up the facts and analyse them properly before choosing a clear winner and explaining why;
Mastercard
- Based in America
- No notable incidents
- Used for a long time
- Good for deposits
- Can’t do withdrawals
- Very good for security
Visa
- Based in America
- No notable incidents
- Used for a long time
- Good for deposits
- Can withdraw (but takes some time)
- Good for security
The summary above will show you that both of the ways to pay are extremely similar. Despite being competitors we believe that in terms of betting, Visa has the edge. Here’s why;
Although Mastercard has a more cutting edge technology of helping keep your information safe and vanquishing any illegal activity, doing bets is more about gaining money and bettors will want to profit and withdraw much more easily.
Mastercard’s inability to withdraw will set them back a long time whilst Visa will offer players the option to be able to take funds out of their account (at a certain minimum) which brings them to a better area of preference over Mastercard when it comes to betting and usage with bookmakers.