Casino players from the USA have more to consider than whether they should hit or stand; processing transactions to and from online casinos can be difficult. When the US Government passed the UIGEA back in the fall of 2006, it was targeted towards the banks and financial institutions that processed the transactions. The government realized that targeting these financial institutions that are within the US is a much easier way to deal with online gambling then creating laws effecting foreign companies.
If you have tried to deposit or withdrawal funds as a US citizen you’ve probably run into challenges such as your credit card being declined by the online casino or the a withdrawal check being delayed. These are not necessarily signs that the online casino is incompetent, but rather that they are struggling with finding reliable processors. It also makes it more imperative to find a good online casino and read casino reviews as the top rated casinos will find a way to process your funds and you know that they are safe.
It has not only become more difficult for online casinos to process financial transactions, but they have become more expensive as well. A typical credit card transaction for a local grocery store may run in the 2% to 3% range whereas online casinos are paying 7% to 8% on transactions. Sending withdrawal checks to players will run the casino about $40. Casino players who have played online for many years will notice that they are lucky to get one free withdrawal per month, whereas 5 years ago it was common to have unlimited withdrawals. As with most businesses, the costs get pushed onto the end consumer. There are some methods that are still fairly common with USA casino players which we have reviewed below.
Visa Casino Deposits
Probably the most common method with which casino players try and deposit; which makes sense seeing that it’s the most popular type of credit card. Visa transactions can still be processed by most online casinos, although the acceptance rate typically depends on the financial institution that you use. Meaning that a Wells Fargo Visa may get declined where as a small independent bank may get accepted. The general rule is that the larger banks have better systems in place to reject gambling transactions. Our advice is that if your credit card declines that you contact the customer service department of the casino as they may be able to provide help.
Mastercard Casino Deposits
Good luck trying to get a Mastercard accepted at any online casino. Unlike Visa, Mastercard has tried to block gambling transactions at the card level, instead of leaving it up to the individual financial institutions. The result is that sources inside the gambling community say that only 5% of Mastercard transactions actually get processed. You can try, but we’d recommend looking for another way to deposit.
PrePaid Credit Card Casinos
Some prepaid cards seems to have very good acceptance rates with online gambling companies. We’re unable to list them as it can change and certain cards work better at different online casinos. The downside to this method is that you typically need to contact the casino first and then go to your local gas station or Walmart to pick up the prepaid card. So an extra couple steps in the process, but the pay off is typically a higher success rate.
Direct Deposit Casinos
This was once an incredibly popular method whereby you directly deposited/withdraw funds from the online casino straight to your bank account. Since the indictments on Black Friday targeted the direct deposit method, it is very difficult to find an online casino offering this anymore.
Western Union/MoneyGram
Typically found at more of the online sportsbooks, some places offer the option of sending money via Western Union or Money Gram. Again this adds an extra couple of steps to the deposit process as you need to contact the online gambling company, then head out to the local store, and then follow up with the online gambling company again. Not the most convenient way, but it does work with some operations.
What’s the verdict? It depends on the online casino that you are playing with. But a good general rule that can help all players with deposits is to contact the customer service department and ask for help – they can typically walk you through the process or let you know what works best with other customers. Sometimes they can provide information that’s not readily available online as it can change frequently. As for withdrawals, the best advice is make sure that you select a top rated online casino to ensure that your funds are safe, even if they take a little longer getting to you.
