Can I Use My Credit Card to Bet the Kentucky Derby Online? (2014)

A credit card offers an excellent option for placing bets on the Kentucky Derby over the Internet with set up time typically under five minutes. 

Websites like SportsBetting accept Visa, Mastercard either directly or through alternative methods.

Be forewarned, some credit card issuing banks like Bank of America do not authorize use of cards for online gambling.  That said, the online racebook can provide you with a third party solution such as Western Union online.

American Express, Discover and Diner’s Club cards do not permit transactions directly with online gambling websites, however, some sites claim they can process these cards through alternative methods as well.

There is a bit of an irony in that US-licensed sites like TwinSpires.com, which require a social security number to join and are not open to residents of all US states, seem to have better luck processing Mastercard and a much higher decline rate with Visa.  The opposite is true of those sites that operate offshore and cater to North American horse bettors.

Customers in European jurisdictions where online gambling is legal should not have any trouble using a bank issued credit card to bet on the Kentucky Derby (and, yes, the race is popular worldwide).

Remember, online gambling websites pay out bets using other methods such as checks and wires.  No credit card issuing bank permits payment of gambling winnings back to the credit card used for placing wagers.

- Dan Shapiro, Gambling911.com