Online casinos
accept credit cards hard to find
It's hard to find online
casinos that will accept credit card deposits nowadays.
It's no secret that the way of depositing funds at online
casinos with credit cards has became the biggest problem for
gambling operators and players alike. For years credit card
transactions to and from online casinos have been declined
thanks to the strict limits the credit card companies have
imposed on such transactions, viewed as "high risk". Visa was
the first credit card company to block the credit card processor
code "7995", followed by
the rest of the credit cards - Master Card, Amex and Discover
(where available). This was done not so much because of
fraudulent charges, but because of the players themselves. It
was really easy for the players to claim "fraudulent" credit
card transaction after losing money at the online casinos.
Today, the biggest problem for the online
casinos in respect to credit card deposits is the last year law
known as "UIGEA" or the Unlawful Internet Gambling Enforcement
Act. This law attempted to curb online gambling in the USA by
making it illegal for the banks to accept transactions to and
from any online casinos or gambling websites (except, of course,
horse racing and lotteries). This new twist made it extremely
hard for any online casino to accept credit card payments, not
only in the U.S., but abroad as well. Today there are few online
casinos which offer the direct credit card deposit option, but
the success is far from guaranteed. It's estimated that over 70%
of the direct credit card deposits to online casinos fail to go
through, which leaves most of the casinos with a few e-wallet
services and sometimes an ACH transaction option.
Published on
12/10/2007
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