FanDuel to Ban Credit Card Bet Funding, Matches DraftKings’ January Move
FanDuel will ban credit card deposits for sports wagers on March 1, aligning with DraftKings’ January 15 prohibition on credit card-funded bets. The policy applies across all U.S. online and retail platforms and targets a reduction in borrowing-fueled wagering activity.
1. FanDuel Implements Credit Card Ban
FanDuel announced that beginning March 1 it will disallow customers from funding sports wagers with credit cards. The ban covers both its online sportsbook and retail locations in all U.S. jurisdictions where it operates.
2. DraftKings Set the Precedent
DraftKings introduced its credit card deposit prohibition on January 15, citing responsible gaming objectives and regulatory alignment. Since the change, the operator reported a 12% decline in credit-funded transactions over the first four weeks.
3. Industry and Financial Implications
The move by the two largest U.S. sports-betting platforms is expected to shift deposit volume toward ACH transfers and e-wallets. Analysts project the bans could lower transaction fees by up to 1.5% of total handle, while regulators may view the policy as a model for broader gaming oversight.