PHOENIX—Just in time for March Madness, consumers can now use their debit cards to place sports wagers at one betting location.
FanDuel is believed to have become the first U.S. sportsbook to accept debit card payments at retail, offering the option at its Phoenix location at Footprint Center, home to the NBA’s Suns, the Sports Business Journal reported.
Working with Toronto-based payment processor NRT Technology, FanDuel installed card readers at its betting counters at the arena sportsbook, allowing fans to pay for their bets as they would items at other stores, using a chip-enabled debit card, according to Sports Business Journal.
Cashiers verify their payment cards against a photo ID. Debit card wagers are maxed at $2,500.
The system requires winners to collect any payouts in cash rather than have them deposited into their checking account, but the initial transaction can be made entirely without cash, the Sports Business Journal added.
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