As we draw ever closer to the annual bacchanal of beer, buffalo wings, and sports betting that is the NFL playoff season, Washington’s top consumer watchdog has a word of advice to fans: Don’t place your wagers using a credit card.
Why? Because it’s expensive. Credit card companies that allow sports gambling transactions typically treat them as cash advances, the Consumer Financial Protection Bureau noted in a new report first shared with Yahoo Finance. That means they come with additional fees — frequently $10 per swipe or up to 5% of the total charge, whichever is higher.
Those extra costs can end up eating into your winnings, especially on the kinds of small bets that surge during the Super Bowl. Worse, those fees may be…
