BetMGM Begins Phased Removal Of Credit Card Deposits

BetMGM has started removing credit card deposits from its US platforms. An official statement was released noting that users can no longer add new credit cards from 31 March 2026. Existing cards will continue to function for a limited period before being withdrawn.

The company has not confirmed a final deadline for complete removal. This move became public during a hearing involving the Pennsylvania Gaming Control Board, where BetMGM executives addressed an unrelated compliance issue.

Policy shift follows regulatory scrutiny and compliance pressure

The update comes after BetMGM was fined $100,000 for weaknesses in its know-your-customer procedures. During the hearing, PGCB Chair Denise J. Smiley questioned the operator’s stance on credit card usage.

Senior legal counsel Joseph Caputi initially stated that the issue was under review. Chief compliance officer Rhea Loney later confirmed that the phase-out had already begun.

“In the coming days, as of March 31, we will no longer be allowing new credit cards to be added,” Loney said during the session, describing the move as a gradual withdrawal across all platforms.

The company has not provided further details on how quickly existing accounts will be affected. The decision reflects growing regulatory attention on payment methods linked to gambling activity.

Industry trend accelerates as operators move away from credit funding

BetMGM’s approach aligns with a pattern across the US market. DraftKings stopped accepting credit cards in August 2025, citing added costs such as cash advance fees and high interest charges on gambling transactions.

FanDuel followed by removing credit cards from its sportsbook, casino and racing products on 2 March 2026. It stated that the change would simplify deposits and reduce friction.

Fanatics Betting and Gaming has never supported credit card deposits, positioning alternative payment methods as standard from the outset.

The shift has also drawn attention from policymakers. Elizabeth Warren has contacted several operators seeking clarification on what she described as “abusive” fees linked to credit card betting.

Her concerns are based on findings from a 2024 report by the Consumer Financial Protection Bureau, which highlighted an increase in credit card cash usage following the expansion of legal sports betting in the US. 

Payment strategy changes reflect risk concerns and regulatory direction

Credit card gambling transactions often carry additional costs, with some users reportedly charged $10 or more per transaction.

Several states have already introduced restrictions. Massachusetts, Iowa and Tennessee have limited or restricted credit card use for gambling, aiming to reduce the risk of debt-related harm.

There is no federal ban in place, which leaves operators to make their own decisions. Industry data suggests that between 19% and 24% of global consumers used credit to gamble in 2024.

As scrutiny increases, operators are steering users toward alternatives such as debit cards, bank transfers and prepaid balances. These methods reduce exposure to borrowing costs and align with responsible gambling measures.