There are ways of gambling online without a credit card. Some outlets accept bank or wire transfers. Others also allow you to set up a e-Wallet, which is similar to an online bank account. E Just as legal online gambling gets started in the U.S., banks and payment processors are refusing to play. Web Gambling Hurt as Credit-Card Issuers Refuse Bets Home The online gambling industry is increasing across the globe. Still, it has to face numerous troubles such as money laundering, credit card frauds, chargeback abuse, and more. Fortunately, identity verification solutions with face verification features can help gambling businesses eliminate such problems. Let’s get to know how identity verification can play an essential role in it. Gambling How card issuers classify gambling transactions. If your credit card allows you to make gambling transactions (most do), the charge will typically be categorised as a cash advance. This is because gambling charges are often “cash equivalents” or “cash substitutes” (i.e. where you spend money to get another form of money). Although it can vary from card to card, cash advances are almost Approximately an overall of 800.000 people incurred in credit card debt at least once to sustain their gambling. With all this evidence the UK Gambling Commission in association with the government has established a ban on credit cards online casinos that will start on 14 April 2020, but in practice, it’s understood that some UK casinos still accept payments . Online lotteries are permitted under the latest bill targeting credit cards for online gambling, largely at the request of states that increasingly rely on lotteries to bolster tax revenues. Professional sports leagues also support the bill, due to their belief that online betting could hurt the integrity of their sports. The horse racing industry supports the bill, but for a different reason Other financial providers which have a ban on credit cards and gambling include Suncorp, Bank of Queensland, Credit Union Australia (CUA), American Express and Citibank. What about the big four? To date, none of the big four banks, including ANZ, Commbank, NAB and Westpac have put in place a full ban on using credit cards for gambling. It’s not a credit card fraud thing; it’s because those banks haven’t yet opted in for accepting gambling as an acceptable card purchase, says Allen Ambrogio, director of operations at online Major credit-card issuers are still not allowing online bets, even after legalising online betting in some US states, according to a report. It was discovered that 22% of the punters gambling online with credit cards are classed as problem gamblers. Hence, in an attempt to lower these stats, the ban was introduced. While finding out about this ban may be dreadful, gamblers should remain calm. Gambling platforms will keep supporting other popular and easy-to-access payment methods.
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