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U.S. Facing Online Casinos Help Players With Debit Gift Cards for Making Deposits

22 May 2010 by Devon Chappell
Take Your Pick! Gifts Cards for Online Casinos

Take Your Pick! Gifts Cards for Online Casinos

With the June 1st deadline to enforce the UIGEA fast approaching, many online gamblers are wondering if the “stupidest law ever passed” (thank you Barney Frank) will have an affect on their online gambling activities. In other words, folks want to know if they are going to be able to deposit money – and most especially – withdraw their winnings from their favorite USA online casinos.

Basically, once the UIGEA is mandated to go into effect on June 1st, financial institutions and transaction processors are required by law to block online gambling transactions. But hold on just a second – not every online gambling transaction. You may recall that the UIGEA is filled with carveouts that allow fantasy sports betting, horseracing, and lotteries to accept online wagers. The only problem (and this is a BIG problem) is that the UIGEA does not define “illegal online gambling”, nor does it provide for any solutions or government backing in helping filter out all of the different kinds of online gambling transactions.

The American Banking Association has itself stated that effectively enforcing this law will be nigh impossible. Furthermore, there are so many ways around traditional methods of depositing with online casinos, i.e., credit cards and eWallets like Neteller and Click2Pay, which needless to say, have already enacted measures to block online gambling transactions with U.S. citizens.

One of the most effective methods being used to deposit at online casinos are credit/debit gift cards, which are essentially prepaid debit cards. Unless the U.S. government were to ban all prepaid cards (which they certainly cannot do), this method serves as a non-descript way of making “online gambling transactions”. The way it works is that cards must first be funded – either by direct deposit of paychecks, ACH money transfers, PayPal transfers or cash reloads at participating retail locations. Once the card has been funded, they can then be used to transfer funds to online casinos, poker rooms, sportsbooks, you name it. As for receiving withdrawals, worse case scenario is that players will have to wait a week or more to receive a certified check in the mail.

The question you must be asking yourself now is, “Where can I get a prepaid gift card?”. Truth be told, there are plenty to choose from. And quite frankly, there are likely to be plenty more spawned as the demand to circumvent traditional methods of depositing funds with internet betting sites continues. Remember, the UIGEA does not implicitly make the act of online gambling illegal. It simply prohibits the transfer of funds between financial institutions and online gambling businesses, which is carried out by the operators and not the bettors themselves.

In terms of fees, each card varies (there are plenty to choose from). Granted, some can get expensive. However, this is where your best friend Wal-Mart enters the picture. In addition to the swarming crowds of crazy people, Wal-Mart carries a comprehensive supply of prepaid cards, and also allows you to reload your card for future uses. Retail stores from drug stores to bodegas allow you to do the same. However, it’s Wal-Mart that imposes the lowest fees (around $3), while there’s no fee whatsoever if using the paycheck direct deposit method of funding your prepaid gift card. Depending on the card, a one-time activation fee and monthly fee may also apply.

The best way to go about finding a reliable prepaid debit gift card is to start a relationship with an online casino you would like to sign up with. In other words, open an account at a trustworthy online casino you know to do business with U.S. players (check out our Best USA Online Casinos page), and then contact the cashier while logged into your account. From there, they will be able to guide you on how to get your account funded. Just to name a few, some of the one’s players are frequenting include Green Dot (www.greendotonline.com), Vanilla (www.vanillavisa.com), Wired Plastic (www.wiredplastic.com), and NetSpend (www.netspend.com). These are considered some of the more affordable gift cards out there. For example, WiredPlastic has a one-time activation fee of $9.95 and monthly fee of just $3.95.

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One Response to “U.S. Facing Online Casinos Help Players With Debit Gift Cards for Making Deposits”

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