BetMGM Phasing Out Credit Card Deposits Following $100K Fine

^{This is no April Fools' joke: BetMGM started off the month by eliminating credit card payments across its online sports betting platforms. (Photo: Steven May / Alamy)}

BetMGM is the latest sports betting company to eliminate credit card payments for its online sports betting sites, joining both DraftKings and FanDuel to move away from them in the online gambling market.

The company began phasing out credit cards on March 31, preventing users from depositing with existing cards or adding new ones to their accounts.

BetMGM, DraftKings Fined for Credit Card Violations

The move comes after the Pennsylvania Gaming Control Board issued a $100,000 fine to BetMGM, accusing the company of using insufficient Know Your Customer protocols that allowed individuals to fund their accounts with stolen credit cards.

This isn't the only time in the past year that a major sports betting operator moved away from credit card deposits following regulatory scrutiny.

In August 2025, DraftKings announced that it would stop accepting credit card deposits across the United States. While the company categorized the move as a customer-friendly decision that would help users avoid interest and cash advance fees, the decision came only after the Massachusetts Gaming Commission fined the company $450,000 for accepting deposits via credit card on multiple occasions in violation of state regulations.

FanDuel has also moved away from credit card deposits, banning them from its US platforms in February.

Credit Card Bans Increasingly Common in US Markets

Many online casinos still accept credit card deposits, but there is a growing trend of companies moving away from them to avoid future issues. Regulators in several states are also taking action on their own to prevent their use.

Along with Massachusetts, seven other states also ban credit cards as a funding mechanism for online gambling, including Illinois and Oregon. Lawmakers in Maine and Virginia passed laws in 2026 that would eliminate credit card deposits moving forward, while several other states are considering similar legislation.

In many cases, these bans are aligning online gambling laws with brick-and-mortar rules. In several states, including Massachusetts and Connecticut, credit cards cannot be used to purchase state lottery products. 

One concern for regulated operators when removing credit cards as a funding option is that players may move to unregulated or offshore sites, which almost universally accept major credit cards as a deposit option. However, there is some evidence that the move won’t hurt the bottom line for licensed betting sites.

“We think the impact will be quite small, particularly in the long run,” Macquarie Capital analyst Sam Ghafir told Gambling Insider. “DraftKings and FanDuel have also banned credit card deposits. Flutter noted no material impact from removing credit card deposits during their recent earnings call.”

With eight states currently restricting credit card deposits and more legislation on the way, BetMGM's move may be an early sign of where the entire industry is headed.