Which betting sites in Illinois accept prepaid cards?
There are currently 4 betting websites in Illinois that accept prepaid cards: DraftKings, Caesars, BetRivers, FanDuel.
About prepaid cards
A prepaid card is a card you buy and load money onto. It is not necessary to connect the prepaid card to your bank account unless you are planning to use it to withdraw money from winning bets, which we will examine later. When you load money onto the prepaid card, you are using the money you already have. You do not borrow like when you are using a credit card.
Prepaid cards typically have logos of Visa or Mastercard on them. These look almost identical to normal debit cards, therefore it is easy to confuse them.
When you use a prepaid card, you can spend only the amount of money you have loaded onto the card. There are some cases where you can overspend but only if you have connected the prepaid card to your bank account. However, it is highly likely that the bank will charge you high fees for that, and you will also have to pay the overcharge.
The advantages of a prepaid card are that after you use it, you do not have to pay a bill, like with a credit card, because you spent your own existing money. Moreover, you do not have to have or link a bank account in order to use the card.