Posts tagged with Internet Gambling

Payment Option of Internet Gambling

September 6th, 2008

We know for a fact that gambling is risky business, and unrestrained gambling is just asking for trouble. Compulsive gamblers already have a hard time restraining themselves from the call of casinos and bookies, and now Internet gambling just takes the ante a step further.  Internet gambling makes payment options for gambling individuals easy. They can just choose from several types of payment options other than credit cards. These include:

VISA and MasterCard cards: These cards are tied directly to the cardholder’s bank account. Funds for all transactions are deducted directly from the cardholder’s bank account, but cardholders can make credit card-type transactions that do not require a personal identification number.

Private-label debit cards: These cards are similar to check cards above but are issued by private companies rather than credit card associations.

On-line payment providers: These companies send and receive funds electronically for such uses as on-line auctions and purchases.

Wire transfers: Some Internet gambling sites promote this method of payment, which allows Internet gambling customers to wire money directly from a bank account to the site.

“E-cash” or digital cash: It is a digital representation of real money that can be placed on a computer hard drive, smart card and other devices with memory. It can be purchased from an authorized provider.

Internet gambling sites also offer money orders; traveler’s checks; bank drafts; cashier’s, certified, and personal checks; and a number of other electronic banking systems or processors as payment options. With Internet gambling’s easy payment options, even a non-gambler would be tempted to try.

Statistics also show that Internet gambling has nearly doubled every year since 1997 – in 2001 it exceeded $2 billion. It also boasts 110 sport-related Internet gambling sites.

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