 UK Legislation
means no credit card use in online casinos
The Gambling Act 2005 has made online casinos
legal in the United Kingdom. The UK is now a virtual Mecca of
online casinos. Although the new legislation has made the
industry commercially viable in the UK, it comes with strict
regulations and controls to avoid problem and under age gambling
and one of the big threats; fraud.
Online Casinos have to work alongside the Gambling commission to
prevent credit card fraud and in addition, the financial
industry is taking its own steps that may cause UK gamblers to
rethink their online payment preferences. New banking
regulations have made using credit cards in online casinos far
more problematic, and this is a method that has always come with
problems. Credit card transactions in online casinos will now be
viewed as ATM transactions and credit payments will no longer be
afforded to those using their credit cards in online casinos
There are many options available to people who use online
casinos. Reputable casinos offer a range of alternative online
payment methods and even offer bonuses to those who utilize
them. This is a convenient way around the credit card issue, as
people can transfer money from their credit cards into their
online payment accounts, these credit card payments will be
regular and card holders will have their usual credit facilities
afforded to them for these payments. Online casinos encourage
the use of reputable online payment methods such as wire
transfer and NETELLER. Online casinos have faced many issues
with accepting credit card payments. Even though credit card
payments at online casinos are made on secure and encrypted
sites, there is no such thing as a totally safe online credit
card transaction. Where there is money being paid there are
criminals and sophisticated hackers ready to steal your
information and your cash, online casinos are a prime target for
such criminals. The less moral patrons of online casinos have
also been known to use credit cards for the purposes of money
laundering and other means of fraud.
Online casinos have overcome this issue by forming strategic
partnerships with online payment services that facilitate fast,
secure and anonymous online money transfer. These services offer
ease of use and do not come with the intrusive credit checks and
questioning that the banks require. Online casinos prefer to
forgo the responsibility of being party to fraudulent acts, with
these services your identity is never revealed to them and the
security is down to the experts in companies such as NETELLER.
For any online payments it is strongly recommended to open one
of these accounts as you are guaranteed that no online vendor
will ever have access to your personal details.
The Gambling Act 2005 is a landmark case study of how gambling
can work as a useful addition to countries revenues, however,
the stigma attached has to be dealt with and transferring from
credit card payments to money transfer is a step in the right
direction.
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