Posts Tagged ‘credit cards’

Visa to Prove More Difficult in Making Deposits With Online Casinos

Sunday, February 21st, 2010

Visa has announced it is now going to follow in the footsteps of MasterCard and begin to implement measures for cracking down against online gambling payments. Not a big shocker considering recent events, the news of Visa’s decision to bow down to mounting pressure from certain lawmakers (cough, cough, UIGEA lover-boy, Jon Kyl of Arizona) will nonetheless put a damper on how U.S. citizens deposit money with legitimate online casinos.

However, notice that I said the word damper – not an end. Despite what will be a sharp rise in declined Visa deposits (yes, some online casinos will very likely continue to try getting payments through), U.S. online gamblers will still have select eWallets, bank wire options and even access to “gift cards” for making deposits, like they do at Go Casino.

So why all the resistance now? Well, ever since enforcement of the UIGEA was permitted to be delayed for another six months, banks and credit card companies have no choice but to start showing they are at least making an attempt to block online gambling payments. Part of the reason why enforcement was delayed was so that banks could have more time setting up the system that would effectively block certain online betting transactions, including online casino and online poker deposits.

So far, it appears that the system is working to a certain extent. However, it is unclear whether the credit card companies can go on manually intercepting credit card payments considering the manpower needed to do so, not to mention the sheer amount of online gambling transactions being made by U.S. residents. Add to this the complicated task of sorting out “legitimate” online gambling deposits (horse racing and fantasy sports), and the already huge burden being placed on MasterCard and Visa gets multiplied by ten.

In the meantime, banks are hoping Barney Frank’s bill to overturn the UIGEA and give individual State’s the right to regulate (which Hawaii is now talking about) continues to gain momentum in the House, while chief politicians in support of online gambling regulation, such as Ron Paul, continue to rise in popularity with conservatives generally opposed to gambling.

Despite Credit Card Hit, Online Casinos Tap Business With Alternative Solutions

Wednesday, February 10th, 2010

Oy! Blocked Mastercard? Surely, you take one of these?

Oy! Blocked Mastercard? Surely, you take one of these?

The recent rise in declined Mastercard transactions at online gambling sites is definitely not just because of the Super Bowl – or at least that’s how things are looking at the current moment. Three days after the big game, bettors and online casinos alike are reporting a large number of declined credit card transactions. And to make matters worse, online casino operators are being made out to be the bad guy.

As reported by the Poker Daily News, transaction requests are still being honored by the credit card company, however, the funds are not being delivered to the player’s betting account. Instead of receiving the money, payment processors for the online betting operators (which are generally owned by the operator) are being fined by the credit card company for accepting the payment. From the player’s perspective, it looks as if the casino is stealing their money, for even though the payment is not being delivered to the player’s casino account, the credit card account is still being billed. Of course, the credit card holder does not have to actually honor the payment, but it’s nonetheless making things extremely frustrating for both players and operators alike.

According to an insider working within the payment processing sector, MasterCard is now manually intercepting transactions between payment processors and casino cashiers, for it is believed that online gambling transactions, which are automatically coded for identification purposes, were being manually uncoded so that they would not be filtered out based on having a “red flag” code. Whether or not credit card companies can actually keep this up, is very questionable.

The bottom line is that while it is convenient to use a credit card to make online gambling deposits, there are several other methods still available for players in jurisdictions like that of the USA Online Casinos in the Vegas Technology powered English Harbour Gaming Ventures – namely, Slots Galore Casino – offer bank wires for both deposits and withdrawals, and reputable third party eWallets and cash services such as UseMyWallet and QuickCash. Popular U.S. facing online casinos, Superior Casino and Rushmore Casino, accept UseMyWallet and the popular eWallet Xpress for making deposits and withdrawals. They also offer eChecks for withdrawal. Casinos such as Go Casino, accept credit card funded gift cards for making deposits, while withdrawals can be process via bank wire or certified check.

Players should note that fees are generally charged on all modes of withdrawal to a varying degree. If using a bank wire, the banks themselves will impose a secondary charge, generally for around $25. At Go Casino, the cost to process a bank wire withdrawal is 2.5% the withdrawed amount. Certified checks for withdrawal generally take more than two weeks to arrive and come with a $15 fee, while expedited courier checks via FedEx cost $35. At Slots Galore, bank wire deposits are free, while bank wire withdrawals have a flat fee of $35 ($500 minimum and $5,000 maximum withdrawal by bank wire per week). Checks and Quick Cash withdrawals also have a $35 processing fee at Slots Galore, while UseMyWallet withdrawals are free.

Blocked Online Gambling Credit Card Transactions More Than Just the Super Bowl

Sunday, February 7th, 2010
Mastercard or Visa? Who Cares!? Cut 'em up and Run!!!

Mastercard or Visa? Who Cares!? Cut 'em up and Run!!!

Yesterday, one of our blog posts was about the difficulty online bettors are likely to face today when making wagers on the Super Bowl. In the past, it was not uncommon at all to see a spike in credit card deposit declines leading up to and during the Super Bowl – call it a temporary crackdown, if you will. This time, however, the rise in credit card declinations appears to be equally – if not more – tied to the U.S. online gambling ban, aka, Unlawful Internet Gambling Enforcement Act.

In fact, on Wednesday of this week, a sudden rise in declined credit cards was being reported by U.S. online poker players. It was initially thought that the crackdown strictly applied to Mastercard holders, but as of Thursday, more reports were surfacing that the crackdown was also being applied to Visa Cards. At the time, it is still not clear just how many online gamblers have been affected by the crackdown.

The bottom line is that U.S. bettors need not go into panic mode. As has always been the case, alternative methods for making online gambling deposits do indeed exist. U.S. facing online casinos, in particular, have been very successful at finding ways to make things financially work for players, even if it means experiencing slower withdrawal processing times.

U.S. online poker players, however, may experience more hardships in getting their money through. Sites like Poker Stars, which account for the vast bulk of U.S. online poker traffic, are reporting a large increase in declined credit cards. As for sports wagers, these too are proving more difficult for U.S. bettors, namely those at the leading U.S. facing sports betting site, Sportsbook.com.

Online Betting With Credit Cards May Prove Difficult During Super Bowl

Saturday, February 6th, 2010

Are You Ready for Some Football!!!!...How About Credit Card Blockage?!!!

Are You Ready for Some Football!!!!...How About Credit Card Blockage?!!!

Most online gamblers who have been around long enough to see their fair share of online gambling eWallets and payment solutions come and go, are likely not worried when and if the Unlawful Internet Gambling Enforcement Act begins to be enforced (scheduled for July, 2010). Credit card companies have long tried to block online gambling payments with varying degrees of success, oftentimes stepping up enforcement prior to and during what is considered to be the largest betting events of the year, such as the Super Bowl.

Now, for anyone who has been living under a rock for the past few days, the Super Bowl is tomorrow. Although my team, the Miami Dolphins didn’t make the cut this (nor last year, nor the year before, nor the year before that, and so on…you the point, not to mention my utter disappointment), the Indianapolis Colts and New Orleans Saints should, nonetheless,  prove to be a great match. In fact, I’m betting it will be one of the closest in a long while. What’s that, I might not be able to bet, after all?

So yes, as I already mentioned, the year’s top sporting events, like the Super Bowl, typically prove to be a more difficult time to place online wagers. Perhaps it’s the fact that so many more people are making bets online (thus a much larger number of declined bets), or that the credit card companies are feeling the pressure from land-based casinos and sportsbooks losing out millions to online sportsbooks, the fact of the matter is that credit card processing always seems to be just a little more difficult around the time of the Super Bowl. If you’re thinking about making a bet online tomorrow, you might want to consider using an eWallet that accepts deposits and withdrawals on wagers made in your jurisdiction.