The History of Visa: Where it all began
As we have already noted, Visa came to life back in 1958. This was the year that Bank of America launched its first credit card programme for consumers and merchants across the US.
Some 15 years later, the National BankAmericard launched its first electronic authorisation system and an electronic clearing and settlement system. The introduction of automation and electronic systems allowed the company to expand internationally in 1974.
The first debit card was later introduced in 1975 and, although not directly linked to the developments of Visa, in 1988 Visa sponsored its first Olympic Games in Seoul, South Korea, and the Olympic Winter Games in Calgary, Alberta!
By 1993, Visa had added electronic signatures and was making use of state-of-the-art network technologies, in the hopes of reducing the risk of fraud. As we fast-forward to 2001, we see that Visa has introduced a zero liability policy, has a payment volume of over $1 trillion, has issued over 1 billion cards, and is used across 20+ countries.
In 2006, the payment volume had quadrupled to over $4 trillion and, in 2007, a restructuring occurred, resulting in Visa Inc. The acquisition of Visa Europe was completed in 2016 and we now see Visa operating in over 200 countries and territories with products and services available across all devices. It is also fair to say that Visa is one of the primary payment methods found across all esports betting sites, allowing for safe, secure, and traceable transactions at any point of the day.
How can I use Visa for Esports Betting online?
Unlike other esports betting deposit methods like Neteller, PayPal, Skrill, you do not have to go through a rigorous registration process before making deposits to your Esport e-wallet.
You probably have a Visa card anyway. So all you need to do is input your card details and authorize the betting site to deduct a certain amount from your account. That way, you get to fund your Esports wallet with no third party involved.
However, there are certain factors you must consider before you go through this payment route. We can bet with you that not all gambling sites are trustworthy.
While some do not possess theft-free encryption, banks also restrict Visa payments on Esport gambling sites. Sometimes it boils down to a country’s policy on credit card payments too.
For instance, it is illegal to deposit with a Visa credit card in the UK. This law helps to protect punters from depositing funds they don't have, which means you won't find a single online bookmaker with credit cards available as deposit option.
Therefore you need to be informed via adequate research, reading countries policy about payments with Visa credit card and website reviews, before deciding on the Esport site to use.
You may also need to contact your banking provider within your location to see if Visa transactions are allowed.
Some of the benefits Visa card offers include:
- Convenience with payment: Whether you want to use your card- tap to pay, swipe or dip, you can easily do this with mobile or card.
- Guaranteed Security: With a Visa card, secured payments with OTPs, and secure authentication. Besides, if your card got stolen, Visa cooperates with your bank to block off the current card and ship a new one in less than 24 hours.
- Global Acceptance: Visa cards (credit or debit) are widely accepted in over 200 countries in the world today. So you can use your card anywhere for merchant payment, no matter where you are in the world.
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Average Deposit and Pay-out time with Visa on Esports Betting Sites
Visa cards are one of the most popular ways to deposit funds to esports betting sites, as they offer a convenient and easy-to-use payment option available worldwide.
Visa cards are widely accepted and popularly employed by sports bettors for quick deposits on their preferred Esports betting sites.
Sports bettors can make deposits by selecting Visa from a list of payment options. They would provide certain information such as the card holder’s name, card number, and financial institution name.After this, sports bettors must input the preferred amount to d, and the financial institution would credit the Esports account immediately.
Visa also allows direct withdrawals to the bank account of sports bettors.However, withdrawals with Visa are slow compared to other payment methods, taking within 3 - 5 business days for funds to reach the user's bank accounts. This delay results from certain security checks that every initiated withdrawal must undergo before sending to the bank accounts of sports bettors.Some of these checks include Know Your Customer (KYC) checks to verify sports bettors’ identity and address, checks to confirm that the account employed during deposit and withdrawals are the same.
However, the recent launch of Visa Fast Funds has provided a perfect alternative that allows quick withdrawals of funds to sports bettors account within 30 minutes to 4hours.
Visa Fast Funds allows transactions to be processed in real-time, allowing for quick withdrawals from your favorite Esports betting site to your bank account. Sports bettors eligible to use the Visa Fast Funds service would see a stopwatch logo at the point of withdrawal.
How to set up your VISA account for Esports betting
Setting up your VISA account for Esports betting boils down to your preferred financial institution. Once you have a bank account and are at least 18, you can own a VISA account.
The best way to set up a Visa account and get a card is by visiting your bank to apply for one. Depending on your bank, you may be required to fill a form or upload official documents.
Since Visa does not issue cards, you will be required to speak with your bank’s representative to explain which Visa card best suits your financial purpose before applying for one. Within a few days, your financial institution will send you a branded Visa card.
Verification Requirements for Visa Services
As you might have experienced while Fornite betting with PayPal, every payment platform requires verification of its users due to regulatory requirements and there’s no difference with Visa. Visa carries out the verification process using a feature known as Verified by Visa, which allows Visa to confirm your identity.
The Verified by Visa feature helps ensure the rightful owner makes deposits or withdrawals using the appropriate Visa account. It goes on to make your online transactions fast, secure and convenient with fewer bottlenecks.
This incredible technology works behind the scenes whenever you make transactions on any esports Betting Sites, taking every detail of your identity. It tracks your transactions and ensures that a new device to access your Esports account and making deposits might warrant the use of an OTP.
This new device verification does not require extra documents aside from the ones used during the initial verification process. These documents are usually an international passport, standard ID card, or even your driver’s license.
Betting Sites That Accept Visa As A Payment Method
For decades, Visa has remained at the helm of processing payments in the world. Every year, consumers use VISA cards to process billions of transactions; thanks to its low fees and widespread acceptance,
Visa’s tagline reads, “It’s everywhere you want to be.” It is, therefore, no surprise that Visa is a popular method of payment amongst sport debtors, owing to its universality and global reach to a variety of card markets.
The Visa payment method is fast and guarantees secure transactions. It is also interoperable with the betting site and does not require signing up to a third-party service before making deposits. A few of the websites that accept Visa as a payment method include:
- Bet365
- 22bet
- 1xBet
- Rabona
- Roletto
- Betfair
- Librabet
- CyberBet
- Bwin
- 888sport
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How To Make Deposits Or Withdrawals On Betting Sites With Visa
Once you have made the best choice of Esports betting sites, your first attempt is to sign-up on the platforms.
Here’s the deal: To claim the best sign up offers for esports, you do need a way to fund up your account. If you sign-up with any of the betting sites we listed above, you can make quick VISA transactions.
Your next step is to deposit with that settled, and that’s easy to do. Here is a brief guide on how to deposit funds into your betting account:
- Once you sign in to your registered account, check for any extra welcome bonus or promotional bonus that requires a first deposit.
- Take note of them, then go to the cashier section or deposit as the case may be on your betting site.
- Here, you find different payment methods with the likes of the Neteller, Skrill, PayPal, MasterCard, and a host of others.
- Make sure to select VISA as a payment method.
- Add your VISA card number, expiration date. Also include the card holder’s name on your credit card and CVV number.
- Put in the total amount of funds you want to deposit.
- Follow the prompts to complete transactions.
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Visa Card Options To Choose From
Visa provides an array of card options that sports bettors can choose. Each card offers certain advantages over another and can be employed to make deposits based on the user’s preference. Below are the card options provided by Visa:
Visa Debit Card
You can instantly transfer money from your bank account with Visa debit and avoid fees when betting at good esports sites that accept Visa debit cards. The process is similar to that of paying with cash or a check. Your financial institution issues it, and your Visa debit card is linked directly to your checking account, making it easy to access your funds.
Visa Credit Card
The Visa credit card offers perks such as cashback for funding our sportsbook accounts. Much like esports betting sites with ecoPayz, it gives sports bettors the convenience and security of adding money to their betting accounts quickly and securely.
Visa will consider your sports betting deposit with a credit card as a cash advance; by extension, you are borrowing money from your financial institution, upon which you must pay back over a period.
Visa Prepaid Card
Many online sportsbooks offer prepaid Visa cards branded with their logo. With prepaid cards, sports bettors can load funds in advance to the Visa cards, using a different bank card. Visa prepaid cards allow users to spend only the amount loaded on the card. Upon exhaustion of the funds, sports bettors must reload the card to continue betting.
Visa Gift Card
Gift cards from Visa are non-reloadable prepaid cards. An amount is deducted from your card balance when you make a gambling deposit online. Upon exhausting the balance, the card cannot be reloaded or reused.
How Visa Stands Out From Other Payment Methods
When it comes to making online transactions, there’s no doubt that VISA is widely accepted. It is also globally recognized in 200 countries, and aside from MasterCard, no other payment method comes close to this.
Visa couples this significant advantage with extra features of security. With Esports betting, the use of a Visa card (credit or debit) puts you in shape to get extra points and exclusive bonuses.
Visa provides numerous advantages to sports bettors who employ its services for making deposits on their favorite bookmakers compared to other payment networks. Below are a few advantages that Visa provides:
Global acceptance
It is rare to find a betting site that does not accept Visa as a payment option. Its universal acceptance means that sports bettors who enjoy betting across multiple platforms and regions can use the same payment method, unlike esports betting sites with PayNearMe which is a payment option limited to US residents.
Secure and Straightforward Online Payments
Visa cards offer secure online payments with the latest 128-bit encryption, a secure socket layer technology. Deposits with Visa cards are instant; one second, you are inputting your personal information, the next second, you are placing your first bet.
Zero Fees on Debit Cards
Just like esports betting sites with MasterCard, most betting sites that accept Visa debit cards do not charge a transaction fee when a deposit is complete. However, charges may result from your bank.
Deposit Limits
Sportsbooks have varying deposit limits. However, you can make a minimum deposit of as little as $20 at most betting sites that accept Visa cards. Its daily limits can reach up to $25,000-$30,000.
Load Sportsbook Prepaid Card
As a preventative measure for declined transactions, US sportsbooks offer their branded prepaid cards. A sports bettor can employ a Visa card to fund these prepaid cards before depositing them to the sportsbook.
Bonus Eligibility
Visa deposits on betting sites always qualify users for bonuses, particularly a premium on the first deposit as a trusted payment method.
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How safe is it to deposit using VISA?
With VISA, you don’t have to be paranoid about leaving your credit card details. You can make your safe bet deposits as far as possible with state-of-the-art technology provided by VISA. You are safe from fraud and any unsafe internet practices.
Any transaction you are making on an Esport betting site comes with a 128 Bit SSL encryption security. That’s the same level for military-grade software, so you don’t need to worry. However, if you are still doubting Thomas, you may consider web wallet alternatives like esports betting sites with Neteller or an online bookmaker with Skrill for an added layer of protection with the use of VISA.
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Conclusion
Unlike esports betting sites with crypto, finding a betting site that does not accept Visa cards is rare - almost synonymous with not having a credit card payment option on the platform. Visa card walks the talk of being a global brand, with its numerous advantages providing users with fast, secure, and free transactions on all deposits.
Visa Payments FAQs
💳 What is the best credit card to use for esports betting?
There are four companies that dominate the electronic payments market: American Express, Visa, MasterCard and Discover. However, Visa and Mastercard are unique in that neither company directly issues credit cards to customers. Instead, they are issued by financial institutions and co-branded with hotels and retailers. You can read why Visas are beneficial in our Visa payments section right here.
✅ What benefits do Visa cards provide?
Various Visa cards offer unique benefits, but those benefits change depending on the Visa tier and the card issuer. The most common Visa credit card rewards are cashback, points, and miles. While some offer the same reward rate for all purchases, others provide more benefits for specific categories, like gas. Certain Visa cards are also known for zero fees. It goes as far as waiving foreign exchange, balance transfer fee, and annual fee. You can read all about the benefits of Visa as a payment method by clicking here.
❓ What is “APR?”
APR, which stands for Annual Percentage Rate, is employed to compare credit cards and personal loans. It takes into account the rate of interest to be paid as well as additional charges or fees.
💰 How long does a withdrawal process take with Visa cards?
Visa deposits are usually instant. However, when permitted, withdrawals can take between 3-5 business days, depending on the bookmaker. You can find out much more about Visa cards on our Visa payments page.
