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Reasons for rejection of credit card deposit

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A credit card is the most convenient way to fund the casino bankroll. Funds are transferred immediately, and the use is effortless. All you need is to provide the card number, expiry date, cardholder name, and CV code and enter the amount to be transferred to the casino account. Provided the amount is within the credit limit, it gets transferred instantly. If you have a sufficient amount in the bank account, you can use a debit card; also, the procedure is akin. Hypothetically you can use the credit limit to fund the bankroll. Pragmatically credit card deposit gets rejected, more often than any other banking instrument.

Misconception

Most wagers presume that the credit card issuer (Visa or MasterCard) rejects the transaction. In realism, the concerned bank stops the transfer. Every bank has its guidelines and policies regarding real money online betting. Some have a liberal approach, while others have a stringent policy concerning online wagering. If your banker is conservative, the chance of rejecting a credit card deposit is immense. Bank of America does not allow credit card use for online betting.

The Unlawful Internet Gambling Enforcement Act

The Security and Accountability for Every Port Act (SAFE Port Act 2006) contain preventive gambling measures. The Unlawful Internet Gambling Enforcement Act (UIGEA) has hugely impacted the US’s online gambling industry. This act prohibits online gambling sites from accepting payments from regions where online gambling is barred. There is no standard rule enforced on every state regarding internet wagering. For this reason, UIGEA does not serve a national ban. Though the law is ambiguous, it hampers the payment process, and most banks and e-wallets want to stand on the safe ground. The normalcy of the payment process is returning in states which have legalized online betting.

Other factors

UIGEA is not the only deterrent for online transfer of the fund to a casino account; other factors also hinder the use of credit cards for funding. The US Attorney’s South District New York office summoned and penalized major poker sites like; Full Tilt Poker, Poker Stars and Absolute, and UB Poker. These online poker rooms were accused of money laundering and financial fraud. These sites did not adhere to UIGEA guidelines and practiced a non-transparent, fraudulent banking process. They continued with their devious acts for several years. Absolute, Full Tilt, and UB poker filed for bankruptcy and did not pay the customers’ dues. Poker star paid a compensation of $731 million.

Black Friday is like a red flag on American gambling history. Banks takes a cautious, guarded stance dealing with online casinos, and the ambiguous law is also a significant deterrent.

Use an alternative payment process to a credit card; major online casino websites like judi online accept cryptocurrency like Bitcoin. Besides Bitcoin, you can use e-wallets, prepaid cards, debit cards, and bank transfer to deposit money on the bankroll. Prepaid cards are perfect for fund transfer, as they are not associated with banks. But some non–banking institutions issue these cards for single-use, which can cause a problem for funding.

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