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Using a Discover Credit Card to Increase Profits

Category: Side Hustle
Updated: Feb 27, 2024
3 min read

Discover is the only credit card that does not treat sportsbook deposits as a cash advance. This means that you can use a Discover card to make deposits and then get the rewards (points, cash back, etc.) on the charges. The Discover IT credit card is a popular choice among matched bettors since it is a 1.5% return. Additionally, Discover will match your first year's cash back amount. This results in a 3% return on investment (ROI) on all of your sportsbooks deposits. This can have a noticeable impact on your yearly matched betting profits. The screenshot below shows 690,569 points earned in the first year which can be converted into $6,905.69.

Screenshot of Discover Credit Card Match

Most, if not all, other credit cards treat sportsbook deposits as a cash advance. Traditionally a cash advance results in an initial fee as well as interest charges. These interest charges may be at a higher rate than your regular credit APR as well as starting accruing instantly. Due to this fact, Discover is the only credit card that is worth using to deposit money into sportsbooks.

Even though Discover does not treat sportsbook deposits as a cash advance to be safe and avoid any unwanted fees it is recommended that you set your cash advance limit to $0 as a precautionary measure.

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