Experts Say Banning Credit Cards Won’t Significantly Impact Gambling Operators’ Revenue

(AsiaGameHub) –   As a voluntary self-regulatory move, many gambling and sports betting operators are rolling out bans to bar customers from using credit cards on their platforms. While some have argued this change could hurt operators’ revenue, experts say the impact will be negligible.

Experts Share Their Views On This Industry Practice

Jordan Bender, an equity research analyst at Citizens JMP Securities, explained that the overall impact of the bans is expected to be “minimal.” He noted that DraftKings stopped allowing credit card deposits in September, and betting volume saw no material change in the months following the policy adjustment. At the time, the company’s messaging indicated that the positive effect of reduced processing fees was not large enough to meaningfully alter overall business performance.

Sam Ghafir, an analyst at Macquarie Capital, stated that the impact is expected to be relatively small, especially over the long term. Multiple U.S. states have already banned credit card deposits for betting, and Flutter Entertainment reported no material impact from removing credit card deposits during its latest earnings call.

Ghafir also added that these credit card deposits tend to “punch above their weight,” as new users and casual bettors are the most likely to use them. He further noted that credit cards are typically linked to smaller, more frequent deposits, as well as in-play and impulse betting.

However, full legal prohibitions on credit card deposits are already in place in Iowa, Massachusetts, New Hampshire, Oregon, Rhode Island, Tennessee, and Vermont. New Jersey is currently exploring a potential ban on credit card use for gaming, while states including New York, Illinois, and Virginia are also drafting similar regulatory proposals right now.

Gambling Operators Are Moving Faster Than States On This Issue

As Bender pointed out, DraftKings implemented its full credit card ban in August 2025 across all its U.S. sports betting and iGaming platforms. According to the company, this is a “strategic business decision” designed to help customers avoid extra unnecessary fees.

FanDuel followed suit in February 2026, announcing that its nationwide U.S. credit card ban would go into effect on March 2. FanDuel’s decision came less than a week after Elizabeth Warren, Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, sent a letter to major sports betting operators requesting details on what she described as “abusive credit card betting fees that rip off Americans using sport-betting platforms.”

BetMGM is the most recent operator to join the trend, as the company is in the process of phasing out credit cards as a funding option for customer accounts and no longer accepts new credit card deposits.

Interestingly, Fanatics has actually been a leader in this area, as the company has not permitted credit card deposits since it launched its sportsbook in 2023. According to a spokesperson, a “no credit cards” policy was a foundational principle for the platform. They also confirmed the company has never accepted a wager via credit card, and expressed satisfaction that the broader industry has since adopted a similar approach.