Made one last $1500 deposit on 4/13 via MGM. Logged into my account and see it didn’t post until the 16th. MF’ers hit me with a $45 CA fee. End of an era where Discover got the last laugh.
Watch your Discover accounts some books were slow (umm MGM and Superbook are two) to post Discover deposit transactions made before April 16 and Discover is treating transactions that posted on April 16 or later as cash advances. Even if you deposited before April 16. I just got off the phone with Discover customer service and they said this is a known issue and all deposit/purchases made before April 16 regardless of post date will be treated as purchases and not cash advances. They said it would "Be fixed" in my account. They also said they do not have an ETA but it "will be fixed". I don't trust them, so i will be watching daily and calling as needed.
Y’all wouldn’t believe how much money I ran up on this card the last two years. Id honestly be shocked if anyone ran up more than I did and I’m not trying to brag. Id really like to know lol Sad day on the 16th.
I'm surprised it lasted as long as it did TBH. Nice ride while it lasted
https://preview.redd.it/rz213d9j9ivc1.png?width=461&format=png&auto=webp&s=ae4e038ab384a950075bb76094f293143e3d325b
That’s legit! Is that basically $32k? Beautiful thing wasn’t it??!?
How long were you earning? I’m just honestly curious to find the person that put this thing through the fuggin roof. I know someone did a nutty number out there.
I was basically clocking $2500 a month. I bet every dollar online only 1 time. Every dollar I bet online was a fresh brand new dollar. Add in the promos from site and I was able to keep my online gaming accounts at a stable win/loss record .
I can’t find how to do the summary total because I didn’t do it via miles I did it on the Discover IT card. I can only find like 3 month periods where I can screen grab. Anyway , here’s 1 month recently:
https://preview.redd.it/jdu8bzm0rivc1.jpeg?width=1179&format=pjpg&auto=webp&s=263f5fca4a81af6ffc3e12e3e36f3c396f6e1c2e
Yea, key was to use the 3% cash back on Discover It miles card. I had $17,500 credit limit towards the end which I would churn 2x weekly typically.
A couple hacks i learned a bit late in the game was using Paypal bill payments to make additional payments, so i would be able to get $40K in deposits in a single week towards the end.
I primarily used Oddsjam to do low-hold Sports bets with other books to cycle through the amounts. Usually had no issue finding bets below .5% hold so would in theory profit 2.5%. The further upside is when you're betting that much, bonuses and VIP hosts will find their way to you with additional free $.
I know it takes a lot more work, and only so many books offer this, but..... think of the fuel points! Assuming, of course, you won't have to deal with cash advance with this type of transaction.
*
Sucks. But I guess the writing was on the wall. Was an easy way to make $100-$200 a month via 1% cashback. Gonna hammer it hard until the 4/16 deadline. Always pay my cards off on time and in full.
That’s right. It is 0 difference. Simply use CC and after the deposit is complete , make the credit card payment. Did it for two years. I ran up tens of thousand of dollars in 1% rewards. Thousanddddsss a month v
This has been the case in Canada for a while.
Makes sense, since you could technically deposit from a credit card and then withdraw to your bank account without ever placing a bet. It absolutely can be used as cash advances and should be treated as such.
Are they saying historical purchases will be considered cash advanced too? Even though we didn’t know and it wasn’t in their rules? Like I’m trying to pay off a balance right now and if a cash advance might hit for the purchased amounts that’s not fair.
Starting April 16th they will. They state that previous transactions had only shown as normal purchases, but this will be changing starting April 16th.
It's not recommended, but if you want your bankroll funded by a discover card (please god don't do this) then you need to make your purchase before it would clear on April 16th.
Thank you brother. I just don't see if they specifically mentioned that old historic purchases will be impacted
No i have quit betting cold turkey. I mean its an easy way to exploit cash back rewards (Deposit a lot of money, bet on something -10,000, withdraw it). But it's too easy to spiral out of control. Also you can basically run up a limit of $100K+ and make an insane bet. If it doesn't hit you can resort to bankruptcy. Just way too many ways to exploit this and i understand why they are doing this.
Every time you deposit using your card, it will be treated as cash advance by the credit card company you'll be paying a fee immediately like in my case $7.50 every time i deposit in my betting site. Before, I don't pay $7.50, as long as i pay my credit before the 20th day im good. No charges at all but now every deposit is $7.50.
Paypal has consumer protections, meaning if some fraud or anything happens they are able to protect and recoup your funds.
A debit card is just a representation of your bank account, and once the money is gone it is gone forever.
Paypal more closely reflects a credit card, except no cash advance fee. So you could deposit with paypal and pay that off with a credit card (to get cash back or points or whatever) and then pay the credit card off with your debit/bank account.
Holy fuck wonder if I was a huge cause of this...
Last year I wagered close to 900k thru my discover and cleared almost 9k in free rewards cash.
FML. (have a 0$ balance) would bet, win, payi t off play with winnings. rinse repeat every bet. had close to 2000 deposits on DK
FUCK
https://preview.redd.it/n1wyybv3p0nc1.jpeg?width=1170&format=pjpg&auto=webp&s=855d84193b86b9f6c01175f568f0a5e4dfe2340b
Say what? Dumb fuck. I don’t lie for internet clout
Are they saying historical purchases will be considered cash advanced too? Even though we didn’t know and it wasn’t in their rules? Like I’m trying to pay off a balance right now and if a cash advance might hit for the purchased amounts that’s not fair.
Imagine you get hit with fees on that $900k
https://preview.redd.it/bo3lombcp0nc1.png?width=1170&format=png&auto=webp&s=1598ade73042d0e6fecb8992772975e61e9a63ea
This year alone.
But please tell Me more how I’m lying
Have you been cycling your credit limit (maxing out every few days then pay off) with Discover or do you have a very high credit limit? (i.e. $50k+ revolving credit limit per month)
Brothers, a true degenerate using a credit card would know to buy a Vanilla gift card through Walmart or something to reduce that vig.
Pro tip: donate your plasma before using CCs to fund the habit.
Vanilla doesn't pay you back. I was getting a few hundred per month just rotating money around via my Discover deposits. It was literally free money. Nothomv degen about it
I would do it but immediately pay the credit card deposit amount so it was basically like it was coming from my checking yet I would get the free cashback also
What is anyone’s experience when withdrawing on a CC account? Made a deposit long ago with discover but haven’t pulled anything out under the same account. Kinda feels weird to pull it back through CC? Heard it has to be the same method as payment so haven’t tried other ways either
the only book I've had issues with is betMGM. They have some "circular funding" rule where you have to withdraw to the same account the money came from
I have deposited plenty of times via Discover and withdraw via Venmo, Paypal, VIPcheck, checking, etc.
The only time they refund to the card is if you haven't wagered the funds at all.
This might be a stupid ass question but can you purchase gift cards, either DraftKings or Visa cards, with your Discover and not get hit with cash advance fees?
You can’t deposit on most books using those Visa gift cards. I even “registered” the card with my real name and address and none of the books would take it.
I had never seen a DK gift card but I assume that would work. Discover would just see a $50 transaction at the grocery store or whatever.
The gift cards exist but only recently saw them. They do have a fee with them so $50 DK gift card is actually like $55/56.
Not great and still don’t think I’ll grab them but can see the benefit of getting fuel perks back for $ I was gonna spend anyways for gambling.
Edit: just found the picture I sent my buddy. $5 fee
https://preview.redd.it/45njnj3nqxmc1.jpeg?width=3024&format=pjpg&auto=webp&s=7a9adb3ea6db5281cc0a69e99f98b19deff725c3
MGM gives a $10 bonus credit when you wager the $50 deposit.
If you can convert the credit to more than $4.95 cash, you’ll make a profit on the whole deal.
Assume the fees have to be for like the company supplying them, the store you’re buying them from, and then state gaming commission tax? This is in Ohio so who knows if those fees are everywhere or not.
Idk. It’s not like there’s a fee if you buy a Best Buy card or whatever. Wouldn’t be shocked if it’s there to prevent people from Doing exactly what we’re talking about.
Made one last $1500 deposit on 4/13 via MGM. Logged into my account and see it didn’t post until the 16th. MF’ers hit me with a $45 CA fee. End of an era where Discover got the last laugh.
Watch your Discover accounts some books were slow (umm MGM and Superbook are two) to post Discover deposit transactions made before April 16 and Discover is treating transactions that posted on April 16 or later as cash advances. Even if you deposited before April 16. I just got off the phone with Discover customer service and they said this is a known issue and all deposit/purchases made before April 16 regardless of post date will be treated as purchases and not cash advances. They said it would "Be fixed" in my account. They also said they do not have an ETA but it "will be fixed". I don't trust them, so i will be watching daily and calling as needed.
Y’all wouldn’t believe how much money I ran up on this card the last two years. Id honestly be shocked if anyone ran up more than I did and I’m not trying to brag. Id really like to know lol Sad day on the 16th.
I'm surprised it lasted as long as it did TBH. Nice ride while it lasted https://preview.redd.it/rz213d9j9ivc1.png?width=461&format=png&auto=webp&s=ae4e038ab384a950075bb76094f293143e3d325b
That’s legit! Is that basically $32k? Beautiful thing wasn’t it??!? How long were you earning? I’m just honestly curious to find the person that put this thing through the fuggin roof. I know someone did a nutty number out there. I was basically clocking $2500 a month. I bet every dollar online only 1 time. Every dollar I bet online was a fresh brand new dollar. Add in the promos from site and I was able to keep my online gaming accounts at a stable win/loss record . I can’t find how to do the summary total because I didn’t do it via miles I did it on the Discover IT card. I can only find like 3 month periods where I can screen grab. Anyway , here’s 1 month recently: https://preview.redd.it/jdu8bzm0rivc1.jpeg?width=1179&format=pjpg&auto=webp&s=263f5fca4a81af6ffc3e12e3e36f3c396f6e1c2e
Yea, key was to use the 3% cash back on Discover It miles card. I had $17,500 credit limit towards the end which I would churn 2x weekly typically. A couple hacks i learned a bit late in the game was using Paypal bill payments to make additional payments, so i would be able to get $40K in deposits in a single week towards the end. I primarily used Oddsjam to do low-hold Sports bets with other books to cycle through the amounts. Usually had no issue finding bets below .5% hold so would in theory profit 2.5%. The further upside is when you're betting that much, bonuses and VIP hosts will find their way to you with additional free $.
So you were clocking 3% of what you deposited ?!? Could you turn the miles into cash at 1:1?
I know it takes a lot more work, and only so many books offer this, but..... think of the fuel points! Assuming, of course, you won't have to deal with cash advance with this type of transaction. *
Sucks. But I guess the writing was on the wall. Was an easy way to make $100-$200 a month via 1% cashback. Gonna hammer it hard until the 4/16 deadline. Always pay my cards off on time and in full.
Go figure they pull this days before North Carolina goes legal.
If you are using a credit card to gamble it’s time to re-think things
What if you pay it off immediately and just want the benefits ?
I personally wouldn’t and that’s how I use my card in general. Just a fine line I won’t cross because it’s a very slippery slope
Idk it’s 0 difference from using a debit card and only benefits you
That’s right. It is 0 difference. Simply use CC and after the deposit is complete , make the credit card payment. Did it for two years. I ran up tens of thousand of dollars in 1% rewards. Thousanddddsss a month v
This has been the case in Canada for a while. Makes sense, since you could technically deposit from a credit card and then withdraw to your bank account without ever placing a bet. It absolutely can be used as cash advances and should be treated as such.
We here did u get this, email? I didn’t get anything yet
I was behind too, just got it this morning
Are they saying historical purchases will be considered cash advanced too? Even though we didn’t know and it wasn’t in their rules? Like I’m trying to pay off a balance right now and if a cash advance might hit for the purchased amounts that’s not fair.
Starting April 16th they will. They state that previous transactions had only shown as normal purchases, but this will be changing starting April 16th. It's not recommended, but if you want your bankroll funded by a discover card (please god don't do this) then you need to make your purchase before it would clear on April 16th.
Thank you brother. I just don't see if they specifically mentioned that old historic purchases will be impacted No i have quit betting cold turkey. I mean its an easy way to exploit cash back rewards (Deposit a lot of money, bet on something -10,000, withdraw it). But it's too easy to spiral out of control. Also you can basically run up a limit of $100K+ and make an insane bet. If it doesn't hit you can resort to bankruptcy. Just way too many ways to exploit this and i understand why they are doing this.
I just got my card in January and they do this. I also use it to transfer from P2 to P1 with an authorized user. Sad.
What does this mean
Every time you deposit using your card, it will be treated as cash advance by the credit card company you'll be paying a fee immediately like in my case $7.50 every time i deposit in my betting site. Before, I don't pay $7.50, as long as i pay my credit before the 20th day im good. No charges at all but now every deposit is $7.50.
Interac
Use your debit bro
I've used PayPal on most of the major books in the US
Out of curiosity is there any particular advantages to using PayPal over a debit card?
Paypal has consumer protections, meaning if some fraud or anything happens they are able to protect and recoup your funds. A debit card is just a representation of your bank account, and once the money is gone it is gone forever. Paypal more closely reflects a credit card, except no cash advance fee. So you could deposit with paypal and pay that off with a credit card (to get cash back or points or whatever) and then pay the credit card off with your debit/bank account.
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So you still receive the consumer protection from Paypal then. Sounds like a great way of doing it.
Holy fuck wonder if I was a huge cause of this... Last year I wagered close to 900k thru my discover and cleared almost 9k in free rewards cash. FML. (have a 0$ balance) would bet, win, payi t off play with winnings. rinse repeat every bet. had close to 2000 deposits on DK FUCK
Major bummer for sure. Sucks for those that deposit and pay off in full anyways every month. Was an easy $100+/m for me at least.
😭😭😭 holy shit bro lol! Yeah you definitely could have been a case example they looked at😂😂
That was an awesome system lol. Feel no shame in exploiting that
I wouldn't feel shame either. Discover is still making probably 2%+on the merchant transaction fees on their end despite giving us 1%.
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https://preview.redd.it/n1wyybv3p0nc1.jpeg?width=1170&format=pjpg&auto=webp&s=855d84193b86b9f6c01175f568f0a5e4dfe2340b Say what? Dumb fuck. I don’t lie for internet clout
Are they saying historical purchases will be considered cash advanced too? Even though we didn’t know and it wasn’t in their rules? Like I’m trying to pay off a balance right now and if a cash advance might hit for the purchased amounts that’s not fair. Imagine you get hit with fees on that $900k
No, that won’t happen
Thank you. If it does happen what can i say? I'm freaking out right now cause im in the same situation as the guy above lol
Just confirm it with customer service. But like the ss says it won’t start til April so you should be fine
maybe my reading comprehension isn't as good. But in the SS it seems like they dont specify if cash advances will occur on past purchases
You’re right it doesn’t explicitly say that, but my take is that it won’t start until transactions as of that date.
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Lmao. Backtracking since I proved your sarcasm wrong.
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Beating the wife allegation is quite literally overreacting
https://preview.redd.it/bo3lombcp0nc1.png?width=1170&format=png&auto=webp&s=1598ade73042d0e6fecb8992772975e61e9a63ea This year alone. But please tell Me more how I’m lying
Have you been cycling your credit limit (maxing out every few days then pay off) with Discover or do you have a very high credit limit? (i.e. $50k+ revolving credit limit per month)
Cash advances will yield a very high interest rate. So pay it off before the first month or don’t do it.
CA interest starts accuring immediately. Simply said don't use your CC at all for funding sportsbooks anymore.
It generates interest immediately. No need to wait for the first month. Better off not doing it.
I deposit through PayPal and pay with a credit card through there. Usually works well and that way you can get points for depositing
Any credit card? Is there a cash advance fee? Which card do you use
I deposit through PayPal and pay with a credit card through there. Usually works well and that way you can get points for depositing
Which book allows deposit through Paypal then withdraw to bank after play through? And have you got success with which card? TIA
Done it recently on DraftKings with chase and Amex.
Not sure if it is state dependent, but I have just tried with DK and Paypal allows funding from checking only.
Yeah must be state my state then. I did it Monday.
What state?
Brothers, a true degenerate using a credit card would know to buy a Vanilla gift card through Walmart or something to reduce that vig. Pro tip: donate your plasma before using CCs to fund the habit.
Vanilla doesn't pay you back. I was getting a few hundred per month just rotating money around via my Discover deposits. It was literally free money. Nothomv degen about it
You got free cash back for using Discover. Was a great deal
Do people seriously deposit with CCs? Not even allowed in my state. Ultimate degens
I would do it but immediately pay the credit card deposit amount so it was basically like it was coming from my checking yet I would get the free cashback also
free cash back
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It is free on Discover. I made a few hundred per month rotating money around for discover deposits. Hence the policy change
Chase got me on this and charged me a fee :(
What is anyone’s experience when withdrawing on a CC account? Made a deposit long ago with discover but haven’t pulled anything out under the same account. Kinda feels weird to pull it back through CC? Heard it has to be the same method as payment so haven’t tried other ways either
I accidentally withdrew from sleeper using CC and it just posted as a credit to my CC, which I was then able to withdraw to checking
the only book I've had issues with is betMGM. They have some "circular funding" rule where you have to withdraw to the same account the money came from
I have deposited plenty of times via Discover and withdraw via Venmo, Paypal, VIPcheck, checking, etc. The only time they refund to the card is if you haven't wagered the funds at all.
I have deposited with a CC on FanDuel and withdrawn to a bank account with no issues
This will be book dependent and doesn't seem to be true. You can most likely add a bank account and withdraw to it.
[Mfw](https://m.youtube.com/watch?v=EgZL27H_yxk) What a joke of a cc company
This might be a stupid ass question but can you purchase gift cards, either DraftKings or Visa cards, with your Discover and not get hit with cash advance fees?
Yes, I've bought many DK giftcards at the grocery store with my credit card. No issue.
Netspend works with betmgm
I use Go2Bank for two offshores, Cashapp, and Hard Rock. Prepaid card/checking. No problems so far.
I've had vanilla cards work specifically with DraftKings
You can’t deposit on most books using those Visa gift cards. I even “registered” the card with my real name and address and none of the books would take it. I had never seen a DK gift card but I assume that would work. Discover would just see a $50 transaction at the grocery store or whatever.
The gift cards exist but only recently saw them. They do have a fee with them so $50 DK gift card is actually like $55/56. Not great and still don’t think I’ll grab them but can see the benefit of getting fuel perks back for $ I was gonna spend anyways for gambling. Edit: just found the picture I sent my buddy. $5 fee https://preview.redd.it/45njnj3nqxmc1.jpeg?width=3024&format=pjpg&auto=webp&s=7a9adb3ea6db5281cc0a69e99f98b19deff725c3
DK does not have a fee on the gift cards. MGM does.
Maybe it’s just because of the ones I saw above being the multiple sites including MGM?
You also must buy the DK ones in cash.
God damn, they even got the juice on the gift cards smh lol
MGM gives a $10 bonus credit when you wager the $50 deposit. If you can convert the credit to more than $4.95 cash, you’ll make a profit on the whole deal.
BetMGM’s UI took years off my life lol
Lmao 25% if you're buying at $20, plus an additional ~7% per wager placed. Fuckin' yikes call a hotline for Christ's sake.
Yeah definitely not worth it. Actually wild they have fees on them.
They’re meant to be given as gifts, not for yourself to deposit. Cash deposit at CVS for DraftKings.
Still doesn’t make sense to have fees on them.
It’s just how prepaid cards work. Processing/activation/bullshit fees. I don’t disagree it’s annoying.
except its not how literally any other gift card works.
Assume the fees have to be for like the company supplying them, the store you’re buying them from, and then state gaming commission tax? This is in Ohio so who knows if those fees are everywhere or not.
Idk. It’s not like there’s a fee if you buy a Best Buy card or whatever. Wouldn’t be shocked if it’s there to prevent people from Doing exactly what we’re talking about.
Honestly, you’re probably right.
I can't use my Capital One card for deposits. Thankfully i can just transfer to and from my bank account with no problems.
Was disappointed to receive this email 😂
motherfucker. do you have any other successful card options you use?
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were you just withdrawing and redepositing using the card? seems like an infinite money glitch
I'm surprised too lol. After they doubled my first year of cashback I thought they would shut me down a lot sooner lol