- Mastercard credit cards can no longer be used at HorseTourneys and HorsePlayers for deposits
- It also appears that some Visa credit card issuers are now treating transactions in our category as cash advances
- Players who have used credit cards should consider moving to ACH, debit cards or PayPal
Last week, it was announced that a major online sports and fantasy platform would stop accepting all credit card deposits in connection with its sports betting platform.
Days later, we at HorseTourneys received notice from Mastercard that it would no longer accept credit card payments in connection with our transactions. Please note that as of now, Mastercard credit cards are no longer accepted at HorseTourneys or HorsePlayers. Debit cards are fine, but Mastercard credit cards can no longer be used.
Furthermore, we are receiving reports that some Visa credit card issuers are now treating transactions related to our category as cash advances. All of these developments indicate a change in policy on the part of Mastercard and Visa.
A statement from the sports and fantasy platform indicated that its move was being made to reduce/eliminate fees involved with credit card tranasctions (since many card issuers treat such transactions as cash advances, which can trigger significant fees) and to proactively protect players from overuse of credit in association with gaming-related activities.
But industry experts also suggested that operators have been under pressure from both regulators and state governments to do more to protect consumers from the pitfalls of problem gaming.
It stands to reason that the move by Mastercard is one the other card issuers may follow. As a result, we want to be proactive in both notifying our customers of this, as well as encouraging you to use other forms of deposit. Simply put, it’s entirely possible that at some point in the future, credit cards deposits of any kind won’t be available. If you’re still using a credit card for depositing at HorseTourneys or HorsePlayers, you should be considering other options now.
ACH bank transfer is by far the most advantageous mode of deposit for players. ACH deposits carry no transaction fees at all and to boot, we give you a 1 percent deposit bonus on those deposits. Players that used cards in the past have moved in droves to ACH.
Debit cards are also never in danger of being an issue for use, and can be used across all card brands with confidence.
Bank accounts may also be used via PayPal. Players may also continue to fund PayPal account balances and then use those funds for deposit at HorseTourneys. Instructions for doing that are here.
Clearly, its very important for us to make it as easy as possible for you to deposit funds here at HorseTourneys. If you have questions or problems, feel free to contact us.
McKay
President
HorseTourneys.com
