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US Betting Sights to Consider Alternative Payment Options
- November 8, 2016 By Nemanja L. -
US online gambling sites might encounter a problem with realising transactions of their punters who make deposits via credit cards. According to the latest reports, Visa, the largest US credit card company has expressed doubts about the legality of the transactions of some payment processors who cooperate with online betting sites.
Credit cards are one of the most frequent options for punters to sponsor their betting accounts and one of the easiest and quickest ways to perform transactions and make deposits and withdrawals. However, they have also been the source of many incidents that occur when gamblers experience losing streaks, which eventually leaves them in debt, because they do not pay their credit card debts.
Precisely this is the reason why credit card companies have been trying to limit the use of credit cards when it comes to online gambling. One of the ways was setting a limit on the amount that can be withdrawn. Also, on their website, Visa urges their customers to check the online gambling law in their jurisdiction, which is especially important in the US due to Unlawful Internet Gambling Enforcement Act.
The players are advised to use their credit cards only on if the US Online Casino or other betting site from their jurisdiction belongs to the state where online gambling is legal. Otherwise the banks are not allowed to process your payments. We suggest that you check our Casino Banking page for more detail on US online casinos with best banking options that include Bitcoin, Bank Transfer, Amex, Discover and Check.
Of course, there are many attempts to bypass the law, as many casinos are based outside the US, in countries where gambling is legal. This was the case with online poker sites (PokerStars and Full Tilt Poker) in 2011, when they were amidst law charges because they have operated with foreign banks, knowing that gambling in US was illegal. Their defense was based on the fact that poker is a game of skill, which is not considered gambling.
It has been reported that federal financial institutions are using specific algorithms to detect suspicious activity and transactions of payment processors. This includes analyzing the products and services on which the money is spent, examining social network accounts and any other activities that may point to gambling activity.
Online gambling is presently legal in three US states: Nevada, New Jersey and Delaware. Currently, there is no strict regulation on federal level, so it is up to each state to decide whether it wishes to legalize online gambling or not. Several states including Pennsylvania and Massachusetts are considering taking this step, but for now the above mentioned three states are the only ones with clear regulations on the matter of online gambling.