Visa and Mastercard were named in a recent Investigate Europe probe into unlicensed gambling websites operating across the UK. Reported by The Guardian, the investigation found that some of these platforms offered services to European users, particularly in the UK, without proper licensing.
Visa was listed as a payment option on two such websites, while Mastercard appeared on nine, alongside various cryptocurrency methods. These sites offered sports betting and casino games, often with generous bonuses, and in some cases targeted vulnerable individuals, including those with gambling exclusions. One UK gambler reportedly lost over £200,000, and several others faced denied withdrawals and other illegal practices.
Visa & MasterCard’s Stance On Illegal Gambling
Both payment providers have previously pledged to prevent transactions linked to unlicensed gambling. Visa stated it does not tolerate illegal activity on its network and remains vigilant in monitoring its systems. Mastercard emphasized its “zero tolerance” policy and confirmed it will investigate the reported websites.
However, Mastercard clarified that transactions typically occur through acquiring banks, which are responsible for vetting merchants and ensuring compliance with local regulations and licensing requirements.
Are Prepaid Gambling Sites Licensed?
The most trusted prepaid casinos and sportsbook sites do have valid gaming licensing, as noted on their website. However, scammers have long been using fake online casino sites to try to steal from potential gamblers.
To determine if a site is legally licensed and utilizes fair gaming practices, you must verify its licensing. All of the prepaid gambling sites we recommend offer that information on their website, and with a few clicks, you can verify their standing. You can also read player reviews, watch YouTube videos, and use free play options before making a deposit.
How Often Are Visa & MasterCard Used in Scams?
Credit card scams are one of the most prevalent types of identity theft in the US and around the world. While the problem affects numerous card issuers, Visa & MasterCard are the two largest and likely see most of the action. Fortunately for cardholders, both companies take card scams and other illegal activities very seriously and have taken numerous preventative measures over the years to curb potential scammers.
In 2024, the Federal Trade Commission (FTC) received nearly 450,000 credit card fraud reports. And one staggering stat claims that 65% of all credit and debit card holders in the US have been victims of fraud at least once.