BetMGM has confirmed it will phase out credit card deposits across its platforms, becoming the latest major US sportsbook to adopt the policy. The decision comes as analysts suggest such restrictions are unlikely to significantly affect operator revenues over time.
BetMGM Begins Phased Removal Of Credit Cards
The operator disclosed the change during a Pennsylvania Gaming Control Board meeting on March 25, where regulators issued a $100,000 fine tied to shortcomings in know-your-customer procedures. Company representatives, including Chief Compliance Officer Rhea Loney and senior legal counsel Joseph Caputi, attended the session.
During the discussion, Loney outlined the company’s next steps regarding payment methods. She said: “In the coming days, as of March 31, we will no longer be allowing credit cards, new credit cards to be added to the accounts for individuals, and it is a phasing out of credit card usage on the BetMGM platforms.”
The transition will begin by preventing customers from adding new credit cards, followed by a gradual removal of existing card-based deposits. The move aligns the operator with a growing number of companies that have already adopted similar policies.
Analysts Point To Minimal Revenue Impact
Industry analysts indicate that the shift is unlikely to significantly affect operator performance. Jordan Bender of Citizens JMP Securities described the expected outcome as “minimal,” referencing similar actions by competitors.
He noted that DraftKings saw no meaningful change in betting volumes after introducing its own restriction, adding that Citizens views the move “more as a headline rather than a real impact on the business.”
Macquarie Capital analyst Sam Ghafir shared a similar outlook, citing existing bans across several states and operators. He said: “We think the impact will be quite small, particularly in the long run. Several states have already banned credit card deposits, including Massachusetts, Illinois, Iowa, New Hampshire, Oregon, Rhode Island, Tennessee, and Vermont. DraftKings and FanDuel have also banned credit card deposits. Flutter noted no material impact from removing credit card deposits during their recent earnings call.”
Macquarie estimates credit cards represent 10% to 20% of US gambling deposits, often linked to casual bettors making smaller, frequent transactions. Ghafir expects most activity to shift to debit, bank transfers, and digital wallets over time.
Broader Industry Shift Continues
BetMGM’s decision follows similar steps by other major platforms. DraftKings introduced its ban in August 2025, while FanDuel implemented its restriction in early March 2026. Fanatics has never allowed credit card deposits since launching its sportsbook in 2023.
At the regulatory level, several states have already prohibited credit card use for gambling, including Iowa, Massachusetts, and Tennessee. Additional proposals have emerged in New York, New Jersey, Virginia, and Illinois. In Virginia, lawmakers approved HB 515, though it still awaits the governor’s signature, while a comparable measure has reached Maine’s governor.
Analysts suggest that for operators, the shift may also support compliance discussions and reduce regulatory risk over time, even as the industry adjusts to new payment norms.
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Source:
“Credit Card Bans Have ‘Minimal’ Impact on Sports Betting Revenue: Analysts“, gamblinginsider.com, March 30, 2026
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