Experts: Gambling Operators Banning Credit Cards Would Not Hurt Income

In an act of self-regulation, many gambling and sports betting operators are implementing bans on the use of credit cards by customers. While some have pointed out that this could hurt their income, experts say that the effect would be negligible.

Experts Weigh In On the Practice

Jordan Bender, an equity research analyst at Citizens JMP Securities, explained that the overall impact is expected to be “minimal.” He noted that DraftKings stopped allowing deposits in September and that betting handle did not differ materially in the months following the change. At the time, the company’s messaging suggested that the positive impact from reduced processing fees was not significant enough to meaningfully affect performance.

Sam Ghafir, an analyst at Macquarie Capital, stated that the impact is expected to be relatively small, particularly in the long term. Several states have already banned credit card deposits. Flutter Entertainment noted no material impact from removing credit card deposits during its recent earnings call.

Ghafir also noted that these deposits tend to “punch above their weight,” as new users and casual bettors more commonly use them. He added that credit cards are typically associated with smaller, more frequent deposits, as well as in-play or impulse betting.

However, legal prohibitions on credit card deposits are already in place in Iowa, Massachusetts, New Hampshire, Oregon, Rhode Island, Tennessee, and Vermont. New Jersey is looking at a potential ban on the use of credit cards in gaming. States like New York, Illinois, and Virginia are also developing similar proposals now.

Operators Are Ahead of States In This Case

As noted by Bender, DraftKings implemented its credit card ban in August 2025 across its US sports betting and iGaming platforms. According to the company, this is a “strategic business decision” aimed at helping customers avoid additional fees.

FanDuel followed in February 2026, stating that its US credit card ban would come into effect on March 2. The decision by FanDuel 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 seeking 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 phasing out credit cards for the funding of customer accounts while also rejecting new ones. 

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