- FanDuel is ending credit card deposits nationwide on March 2 across all betting products.
- The move follows DraftKings and growing state regulatory pressure against credit-funded wagering.
NEW YORK – FanDuel announced Tuesday that it will stop accepting credit card deposits across all its platforms starting March 2nd. The ban affects the company’s sportsbook, casino, and racing products in every state where it operates.
Customers are no longer able to fund their accounts with credit cards, including those connected to third-party services like Venmo, PayPal, and Apple Pay, as a result of the policy change. Direct bank transfers and debit cards are still accepted methods of deposit.
FanDuel is following DraftKings’ lead by banning credit cards nationwide. DraftKings rolled out the same policy back in August, which means the two biggest names in legal sports betting no longer accept credit cards. The corporations’ main justifications for the change are lower transaction fees and client protection.
FanDuel had already outlawed credit cards in five states before this statewide ban: Massachusetts, Connecticut, Illinois, Tennessee, and Vermont. These limitations were imposed by state laws intended to stop excessive debt accumulation and addictive gambling.
Legislation prohibiting credit card betting sites from taking deposits paid by credit is currently pending in several additional states. Bills to formalize these limitations at the state level are being considered in Virginia, New Jersey, and New York.
