Apple credit card rules out sports betting or online gambling deposits

TECH giant Apple might be releasing their own credit card, but it will not be able to be used for online gambling deposits or to buy cryptocurrencies.

The announcement of the credit card and an impending release date in the USA came at a launch event, which was only expected to feature news about Apple News Plus, Apple TV Plus and Apple Arcade, three newly unveiled subscription services.

Despite the announcement of the credit card, which will be heavily iPhone orientated, Apple has ruled out the card mirroring other credit companies and allowing it to be used for real money gambling deposits.

Apple Card is going to work off the Mastercard network, while Goldman Sachs has also partnered in the project, with their involvement set to give it never-before-seen functionality.

Apple has been clear in its communications about the restrictions placed on card holders, with some of prohibited acts including:

• Cash advances
• Travellers cheques
• Cash transactions
• Crytpocurrency
• Gambling – both retail and online

Specifically talking about gambling, Apple has stated their banned transactions list also includes “Lottery tickets, casino gaming chips (whether physical or digital), or race track wagers or similar betting transactions.”

The Apple Card has been touted as a next generation credit card, with many features that have not been seen before.

One of the biggest pros about the Apple Card is that, within minutes, you can sign up on your iPhone and use it anywhere in the world, although at this time the card is only due to be available to USA residents in August, 2019.

The Apple Credit card will then be available across all linked devices, with your spending tracked, transactions listed and details about when your next payment is due.

Apple has also vowed the credit card will have fewer fees and low interest rates.

BettingPlanet.com will keep an eye on any developments surrounding the Apple Card and online betting and gambling and provide information as it breaks.