When we talk about depositing and withdrawing money from online casinos, the conversation quickly becomes confusing due to the fact that there are so many different methods by which both can be accomplished. Amongst the most popular and most widely used methods of banking at New Jersey online casinos are credit cards.
We use credit cards on an almost daily basis in the United States, so it only follows that they would also be accepted at the regulated and legalized online casinos in New Jersey. One can only hope that as online gambling gets legalized on a more state by state basis that credit cards will only serve an even larger purpose for users looking to fund their new accounts.
Benefits of Depositing/Withdrawing via Credit Card
As with any method of deposit or withdrawal, there exists positives and negatives. With credit cards, however, we feel as though the positives far outweigh the negatives.
The first and most obvious reason why depositing money to an online casino via credit card is a great thing is familiarity. Whether you are shopping at an online store or going to buy groceries, the fact of the matter is that there is a strong chance you will be whipping out and sliding the plastic in order to execute those purchases. Being that using a credit card to purchase items is something we are so accustomed to doing, it only makes sense that you would use one to deposit at an online casino. But why?
Perhaps the biggest reason people feel comfortable depositing at an online casino via credit card is due to the fact that they are protected by the credit card company which they use. In almost every circumstance, any fraudulent activity or misuse of your credit information is something that is protected. This means that, for example, if an unscrupulous online casino were to take your credit card information and max out your card, companies like Visa and Mastercard are there to back you up, return your money, and ultimately prosecute the offending party. Nowadays, the protection offered by credit card companies is top-notch.
Another benefit is one that was briefly touched on before; the ease with which a deposit can be made. If you have ever made an online purchase of goods or services, you are well-aware of the fact that it takes a few seconds in order to execute a purchase. By providing the company with credit card number, your name, expiration date, and security code, the purchase will have been processed in a matter of seconds. Nowadays, so many of use make such a large number of online purchases that our credit card info is saved on our computers, meaning that typing in any information at all is not necessary.
The last benefit with regard to credit card deposits we will discuss is the fees that are charged. Unfortunately, whether you are playing at online casinos in New Jersey, Nevada, or anywhere else, you are almost always going to be charged a fee in order to add money to a player account. This may seem unfair and you may hate it, but it is an unavoidable, necessary evil of the online casino industry.
If you do some research, however, you will find that the fees charged on credit card deposits pale in comparison to what you might be charged if you were to deposit via bank wire or cryptocurrency (see: Bitcoin). Though the exact fee you will be charged varies from site to site and often also varies depending upon the amount of money you wish to deposit, they are consistently lower with credit cards than with most other methods of deposit. Typically, you will see anywhere from 1%-4% charged on credit card deposits, with a majority of sites charging towards the lower end of that range.
Credit Card Deposit Drawbacks
As for why you might be wary of making a credit card deposit, there really only exists one major reason—theft of credit information. As was touched on in the previous sections, in order to execute a credit card deposit, you are quite literally forced to hand over all of your personal, credit information to the casino at which you would like to deposit. This means that all of your personal buying power is being put in the hands of people whom you do not know, never met, and never will meet. For many people, this is a scary thought.
Fortunately, New Jersey casinos are fully licensed and regulated by the state, so the chances of a casino taking your credit information and running with it are slim to none. With that being said, the incidence of hackers stealing personal information is on the rise. So really, anytime you type in your credit card number and submit it to a site, you are risking a hacker intercepting those crucial pieces of information and using them as the hacker sees fit.
If you are worried about your credit info falling into the hands of criminals, we suggest that you explore other, more secure methods of deposit. Having said that, however, we must be honest when we say that many of the fears relating to making deposits via companies like Mastercard and Visa are overstated. Especially in New Jersey, where the state keeps a watchful eye over all gambling activities, it would be very difficult for someone to obtain your info and use it without you knowing or catching them prior. That is, of course, unless you are extremely careless with how you handle and secure that information.
To recap, the benefits to using a credit card in order to make a deposit at a New Jersey online casino are numerous. It is an easy, quick, inexpensive way to fund an account. At the other end of the spectrum, there are some very real fears with regard to the safety of your information once it has been given to the online casino. In the end, we encourage you to do your own research and uncover everything there is to know about making deposits with credit cards. After all, you must be fully comfortable with the method of payment you choose to utilize.