Senator Elizabeth Warren, Ranking Member of the U.S. Senate Committee on Banking, Housing and Urban Affairs, sent letters to major sports betting companies seeking information on fees and practices affecting consumers who use credit cards to fund wagers, warning that such charges can function as undisclosed "junk fees" ahead of the Super Bowl. The letters highlight that credit card funding of sports bets is commonly treated as a cash advance, which can trigger a one-time fee typically equal to the greater of USD 10 or 3–5% of the amount, plus additional fees and interest. Warren cited user reports that customers did not realize their credit card use would be treated as a cash advance, and requested detailed information on credit card usage on the platforms and any associated fees; recipients include DraftKings, FanDuel, BetMGM, Caesars, Bet365, Fanatics, Hard Rock Digital, Wynn Resorts Holdings, and others.
U.S. Senate Committee on Banking, Housing and Urban Affairs 2026-02-06
U.S. Senate Committee on Banking, Housing and Urban Affairs ranking member requests information from sports betting firms on credit card cash-advance fees
Senator Elizabeth Warren, Ranking Member of the U.S. Senate Committee on Banking, Housing and Urban Affairs, has requested information from major sports betting companies about fees and practices related to credit card-funded wagers, warning these may be undisclosed "junk fees" ahead of the Super Bowl. The inquiry addresses concerns that credit card funding is treated as a cash advance, incurring significant fees and interest, with recipients including DraftKings, FanDuel, and others.