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No More Credit Cards for Online Gambling?
Every day the number of online casinos grows fast together with the number of online gamblers. Gambling online is a controversial topic, as some sates have legalized some forms of gambling and others have not.
The issue becomes even more controversial when it comes to paying with credit cards in online casinos. It doesn't matter if you have a good credit or a bad credit, business or student credit card, even if you have the best credit card offer, it will be a problem for you to pay for online gambling.
Do the names Cynthia Haines or Henry Marino sound familiar to you? These two residents of California are very well known to the owners of online casinos as well as to most of credit card companies.
These two people filed the lawsuits against major credit card companies Visa, Master Card and American Express. With the help of their attorney Ira Rothken they were blaming these companies for their money loss. They said that wages are illegal in the state of California, so Internet gambling debt shouldn't be collected. Haines and Marino claimed that they should not have allowed the online casinos to take away their money at the first place.
So paying for online gambling with your credit card is becoming next to impossible now. The largest and the most important banks like Citi Bank and the Bank of America do not let their credit cards to be used for online gambling.
On some credit cards there is Caesars Palace logo that states that it can't be used to pay for online gambling.
Most of U.S. issued beat credit cards ban online casinos, as they are afraid of adding illegal activity. Most credit card companies are afraid of loosing money on online transactions.
Taking into account the fact that according to the research 73% of online gamblers have bad credit, gambling debts are uncollectible! Some gamblers after loosing thousands of dollars while rolling the dice online can say that they have never used their card to pay online!
There is one more reason why most credit card companies don't deal with online casinos. It is moral issue. They do not want to be associated with online casinos or anything connected with them! Visa, for example, takes actions every time card is used to pay for net gambling!
Still there are some credit companies that take deposits for online bet, but there are few. They are very careful with it and keep a record on every credit card user.
If you are a gambler and pay with your card, be careful, don't spoil your credit history! Remember that every time you pay with your card, you are entering a contract with your credit company. You are lending the money and you are responsible to pay them back.
Michael
09:14 AM, September 04, 2007
I think it is good that people are not allowed to pay for online casinos, because most of gamblers find it difficult to stop loosing money. Cash is a different issue. but when you have a credit card it feels like you've got all the money in the world and you are free to do whatever you want with them! Plus, in many states it is a crime to gamble. Breaking the law-is not a good thing to do.
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