MCC 7802 covers transactions related to government-licensed horse and dog racing activities within the US region, including wagering and related services, adhering to regional regulations.
Interchange Fee
Interchange fees for MCC 7802 transactions typically range between 2.00% and 3.50%, subject to the specific policies of the card issuer and transaction volume.
Cashback Rewards
Cashback rewards are generally limited or excluded for transactions classified under MCC 7802, due to regulatory and risk considerations associated with horse and dog racing wagering.
Rules and Restrictions
There are no specific rules beyond existing government regulations for transactions involving MCC 7802. Compliance with state and federal laws governing horse and dog racing is required.
Tax Reporting
Transactions and winnings from activities under MCC 7802 may be subject to IRS tax reporting. Individuals must declare and report such winnings in accordance with federal and state tax requirements.