What is maestro banking for sportsbooks?
Maestro is a debit card which is owned by the parent brand popularly known as Mastercard. Unlike prepaid cards whose use doesn’t require you to have a bank account, Maestro cards are obtained from associate banks. The cards are linked to your current account and can also be used at ATMs and POS. Regardless of some countries not having it, the brand still happens to be popular worldwide. Maestro is accepted both locally and internationally.
Relating to sports betting, many US based sportsbooks use Maestro to pay out winnings and also accept deposits from their players. Many sportsbooks accept Maestro as a method of payment because it’s safe and secure.
Facts About Maestro
It’s a payment option which you can use to deposit or withdraw your earnings from US sportsbooks. Here are some things you should know about this payment option
- The brand has gotten recognition from countries ranging over 100 all around the world.
- It has been recorded as one of the most used brands of debit card brands in all of Europe.
- A successful record of 666 million debit cards branded by it have been issued all over the world.
- The brand set the payment limit of their cards to be the same as the amount you have inside the bank account linked to your card. So, the higher your balance, the higher your payment limit.
- A total of 13 million outlets and counting, accept debit cards of this brand for payment.
How to Use Maestro Cards for Your Sportsbook
Maestro is a great payment option for withdrawing your earnings and also depositing into your US sportsbook account. However, the cards do not function the same way as Mastercard and VISA cards. Unlike Mastercard, the Maestro card has 17 digits in front of it instead of 16. It also doesn’t have a CVV number behind it. If a CVV number is required, you can use standard codes like 000 or 999 to replace it. Maestro on the other hand requires you to have a unique secure code for your transactions. Be sure to contact your bank and make inquiries for your secure code.
To be able to use the Maestro payment option, all you need is a bank account. Once you have your bank account, make a request to your bank for a debit card, and you are ready to go.
How to Deposit into your Sportsbook with Maestro
Using the Maestro payment option is the easiest among all payment options available in the USA. Unlike the others, you get your deposit and withdrawals almost instantly. Here is a guide on how to deposit into any of your betting accounts with your cards.
- Visit your sportsbook website
- Navigate to the payment section
- Click on card as your payment option
- Fill in your card details
- Perform the verification by filling in the One Time Pin (OTP) code (the OTP code will be sent to you)
- Click on submit and you are done
How to Withdraw your winnings with your Maestro Card
- Visit your sportsbook of choice
- Go to you’re the withdrawal section and click bank
- Fill in the details required and submit (you only need to do step two and three for your first withdrawal)
- Choose the amount you wish to withdraw and click submit
- Wait for your hard-earned funds to arrive!
Note: Some sportsbooks do an extra layer of verification while some don’t. In case of extra verifications, follow the instructions and continue with your withdrawal.
Pros and Cons of Using Maestro Cards in Sportsbooks
Advantages of using Maestro cards:
- Transactions with your card are very fast
- There are no charges attached to deposits and withdrawals
- Highest standard of security from the Mastercard brand.
- No need for a third-party account to withdraw or deposit to your sportsbook account
- You can always convert your earnings to real cash by using the cards to withdraw at an ATM
Disadvantages of using Maestro cards:
- Most times withdrawals are not instant
- Some betting platforms do not offer Maestro payments
- You have to fill your card details every time you want to make a deposit
Security of Payments with Maestro
The Maestro payment option is highly safe and secure. It’s a subsidiary of the Mastercard brand and therefore uses the same security protocols. The security method uses a 3-D verification protocol which appears as an OTP requested during transactions. This verification also requires you to input your card PIN which serves as another layer of security besides the OTP.
Maestro For Sports Betting FAQs
Can I use Maestro to deposit large amounts of money into my sportsbook account?There are some sportsbooks that don’t have Maestro as a payment option. Those that do don’t really put restrictions on deposits.
How long do Maestro withdrawals take?Withdrawing your winnings from your sportsbook account via Maestro withdrawals are almost instant but can occasionally take longer. If you experience a delay of more than 24 to 48 hours, contact your bank immediately.
Do sportsbooks have withdrawal restrictions relating to Maestro?Some sportsbooks usually have withdrawal restrictions relating to it, but most times it is just a limit to the amount you can withdraw. Be sure to check the withdrawal limit with your sportsbook to avoid having your withdrawal declined
What are the deposit charges for Maestro sportsbooks?Maestro does not charge any fees or costs for depositing at online sportsbooks.