Much of the popularity and ubiquity that Mastercard holds in global finance today is attributed to its age—after all, the company has been around for nearly 60 years. The company had its start in 1966 as the Interbank Card Association or ICA, a group of banks that collaborated to create the Master Charge interbank card that would compete against the Bank of America’s BankAmericard (which would later become VISA).
Mastercard’s expansion over the years would come to include notable innovations in the space; just a few of these include:
Explaining how to use Mastercard as a casino payment method is not quite as simple as you’d expect as Mastercard itself is only a payment processor; the actual payment methods that Mastercard facilitates are through credit cards and debit cards. For this reason, our breakdown of the pros and cons of using Mastercard will focus on the merits of Mastercard itself rather than the credit and debit cards that it supports.
From a general standpoint, all bank cards that are powered by Mastercard operate in the same way as you would expect any other. Credit cards give you access to relatively high deposit limits as well as any perks you get from the card provider, but at the cost of using money you may not necessarily have and making up for the difference by paying debt with interest.
Debit cards, meanwhile, are directly connected to your bank and use your actual bank balance; as such, you don’t have to deal with credit card fees and avoid the risk of debt. This is an especially important characteristic to have if you are the type of gambler who has a bit of trouble with controlling their spending. However, because you aren’t paying for the privilege anymore, these cards also lose the additional perks that credit card providers tend to offer.
It goes without saying that using Mastercard is safe. As with any payment method, there is of course a certain element of risk when transferring funds online. This also applies to players making deposits and withdrawals at online casinos. But thanks to SSL encryption technology and the robust anti-fraud framework employed by Mastercard, consumer protection has never been better.
Safe Mastercard casino websites are those that adhere to respected regulatory authorities and which deploy robust security measures to protect players.
Thus, when searching for safe Mastercard casinos you should make sure that the online casino is secured by SSL encryption. You can do this by checking the browser address bar which should display a padlock next and the prefix 'https'. All of the best Mastercard casinos will include this essential security layer. Don't even think about making a Mastercard casino deposit at a website that's failed to deploy SSL. Any data that you transmit will be unsecure and vulnerable to bad actors.
Once you've found a Mastercard casino that's been secured with encryption (it really shouldn't be that difficult), scroll down to the bottom of the page to see if it’s licensed. If you're looking to play gambling games in the UK, the operator should be licensed by the UK Gambling Commission. Information about this will be included in the footer. There are other regulatory bodies that govern online casino sites based outside the UK. These include the Malta Gaming Authority and Gibraltar Gambling Commission. A site that's governed by these bodies will also provide information on its home page.
Unlike credit cards, deposits made using a Mastercard debit card are not usually subject to any processing fees. Unfortunately, this isn't the case with Mastercard withdrawals. A fee of at least 2% is often applied. Therefore, it's always worth checking the small print before deciding which casino payment options to use.
If you want to use a credit or debit card for your online casino payments, then you don't need to look for any other option if you already have one that is powered by Mastercard. After all, Mastercard did not become one of the largest payment processors in the world for no reason; the reliability and reputation should be more than enough to meet the requirements of any online gambler in Canada.
Well, if you're in the UK, the Mastercard credit card option is no longer available thanks to the Gambling Commission. As it stands, these laws don't yet extend to other parts of the world although this could change at some point in the future. With that being said, it's still perfectly possible to use the debit card option at many online casinos. And as far as we're concerned, this is one of the best options for players looking to make safe deposits without racking up considerable debt. So if you're not comfortable in using specialist online transaction services (we can't really think why), debit cards are probably the way to go.
Yes, Mastercard is available and widely accepted in Canada, being used in everything from banking to online casino payments and everything in between.
Yes, you can use Mastercard at dozens of online casinos in Canada. Be sure to check out our Mastercard casino reviews here at InsideCasino to help you find the site that has the gaming experience you are looking for.
To cash out with Mastercard, you will need to make sure that your Mastercard card supports withdrawals and your online casino allows withdrawals through Mastercard. After that, it is all a matter of initiating a fund transfer to the card from your online casino account.