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Prepaid card betting sites in New Mexico

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A prepaid card operates much in the same way as a debit card. You can use it to deposit or withdraw funds in an online casino. The two ways of acquiring the card are through purchasing or as a gift. Prepaid cards can be digital or physical in nature. There are many prepaid card betting sites in New Mexico that welcome this type of payment method. These sites accept different types of prepaid cards as part of their payment methods.

Though New Mexico has not yet legalized online gambling, some tribes legally operate physical locations in the state. They offer locals opportunities to gamble from within the premises. You can also participate in Daily Fantasy Sports (DFS) in the state. Sportsbooks like FanDuel and DraftKings offer this service. These are, therefore, the only online betting services that you can access legally in the state. This review gives you more information on that. Read on to find out.

What is a prepaid card?

As the name suggests, these are cards on which you load funds and then proceed to spend. They, therefore, act like debit cards. However, unlike debit cards, prepaid cards are not linked to any bank checking account or other credit union shares. These cards enable you to spend money without having to carry cash with you. They also act as a banking instrument where you can store funds.

You can get most prepaid cards by purchasing them. However, you can also get some of the cards as gifts, like the ones you receive in a department store. For example, each time you purchase a gift from that store, you can earn points and later redeem these in the form of cash. Commercial prepaid cards include Mastercard, Visa and Maestro. Prepaid cards generally charge very low fees on transactions. You can also use them to withdraw funds from certain ATMs.

Depositing using prepaid cards on New Mexico betting sites

The process of making deposits using prepaid cards in New Mexico betting sites is very easy and only takes a few minutes. Just follow this step-by-step guide to make a deposit using a prepaid card.

  1. Select a New Mexico betting site that accepts prepaid cards from our list. Remember most sites specify the credit cards they accept. Make sure your preferred prepaid card is available on the list. This will ensure that you don’t face future inconveniences on the site.
  2. Create an account and visit the deposit page. Creating an account on the selected site is a straightforward process in which you select the registration tab and enter the required details. Be careful to enter accurate information since that will save you time. You can then click on deposit to go to the requisite page.
  3. Pick “prepaid card” and put in the amount you wish to deposit. Here you can opt straight for your preferred prepaid card if there are options, and use it to deposit cash. The transaction will be quick and seamless.
  4. Fill in your prepaid card information. You will need to enter this information to complete the deposit process. As a form of security, you will be required to enter an identification pin. Once you finish, you will be ready to play on the site.

Can I withdraw to my prepaid card from an NM betting site?

No, you can’t since a prepaid card has no connection to a bank account. Getting funds into your prepaid card has specified loading processes not provided by betting sites. You can only load money from the card operator. This means that the card only enables you to spend. When it comes to loading on cash, you must turn to the card operator for help, if the card is reloadable.

Prepaid card brands accepted on NM sportsbooks

New Mexico sportsbooks accept many different prepaid cards. In a particular sportsbook, you will find the prepaid cards you can use.

  • MasterCard Prepaid: The main prepaid card by Mastercard in America goes by the name Greenlight. This card will enable you to make deposits or withdraw money from an ATM.
  • Visa Prepaid: These are prepaid cards linked to Visa which enable you to spend without having to carry cash. The cards are widely accepted both within and outside the United States. Therefore, you can use in wherever you may be.
  • Maestro Prepaid: This is another of Mastercard’s prepaid cards. Accepted in over 93 countries, Maestro prepaid cards are safer than money and prevent you from overspending. To recharge your card, just head to a retail location and deposit the amount you want to spend.

Types of prepaid cards you can use on New Mexico sportsbooks

The classification of prepaid cards is according to the way they operate. Some you can only use once and dispose of, while others you can use several times. Then, there are cards only you can only use in specific retail outlets, while others are applicable in different outlets. There are many types of these cards that you can use on prepaid card gambling sites in New Mexico. The main types are below.

  • Voucher prepaid cards: These are cards that you receive with a limited amount of cash on them that you can spend to get specified goods or services. Once you spend the amount on it, you can reload the card at a retail location. Voucher prepaid cards are the ideal gift.
  • Reloadable prepaid cards: These cards allow the user to reload cash once it runs out. This means that the card is reusable and can be used in multiple outlets worldwide. Though they are very similar to debit cards, they have no link to any bank account. This also means you will not have to pay any banking fees.
  • Virtual prepaid cards: These are prepaid cards that are not physical in nature, but only exist online. You can use these to make online payments and reload them when you need to have access to more funds. However, as the name implies, you can only use virtual cards online. They allow you to complete your transactions just like you would do with physical cards.
  • Gift cards: These are cards you receive as gifts. For example, you can get them from department stores if you spend a specified amount. Conversely, you cannot redeem an amount exceeding the amount on the card, and you can only spend at a specified outlet.

FAQ

How safe are prepaid cards for online sports betting in New Mexico?

Prepaid cards are a completely safe way of conducting transactions for online sports betting in New Mexico. When you pay using your card and the transfer takes place seamlessly. However, you are advised to keep your card in a safe place and to not disclose your pin to anyone.

Does every sportsbook in New Mexico accept prepaid cards?

Not all sportsbooks in New Mexico accept prepaid cards. However, you will find that most of the existing sportsbooks do accept this mode of payment. It is important to check whether the sportsbook of your choice supports this payment method before signing up.

Are there any fees when depositing with a prepaid card on betting sites in NM?

No. You will not pay a fee when depositing money with a prepaid card as it is not linked to a bank. Therefore, you can be confident that you will pay without any fees levied on you. However, before selecting a prepaid card as a payment method, check to see whether the casino of your choice charges fees when you make payments. If this is the case, you can always pay with an alternative payment method.