Mar

4

Alternatives to Credit Cards at Online Casinos


Even before MasterCard’s payment block was made official, online casino players often encountered difficulty when using their credit cards to fund their online casino accounts. In many cases, they would have to try up to four times to find a card that the online casino would accept – but it’s not a case of the casino’s acceptance. Rather, it is the credit card companies who are blocking the payments.

To credit card companies, online casinos transactions are identified with a specific code. Any transactions with the code that attempt to make it past the company’s security will be automatically rejected. This system was introduced in 2001, and while it initially caused a decrease in revenue for online casinos, it also spawned the creation of many alternative payment systems.

The first, and most popular, system was the e-wallet, of which PayPal and NeTeller are prime examples. E-wallets allow players to fund their online casino accounts without ever disclosing any personal or financial information to the operator. The e-wallet acts as an intermediary, as the player uses their e-wallet account to transfer money, rather than directly transferring the funds from their bank.

The newest system to be put in place is the prepaid voucher. These can be purchased at various retail outlets across the country with prices ranging anywhere from $10 to $500. When the player wants to deposit money, they must enter the PIN on the back of the card – and the money will automatically be credited to their account! Again, no personal information is released.


March 4, 2010

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