Using Credit Cards or Not at Online Gambling Sites in the US

Using Credit Cards or Not at Online Gambling Sites in the USWhat has been an accepted practice around the world for many years now, to place bets online using credit cards, is not such a popular choice in the US. At present there are three US States that approved online gambling; Delaware, Nevada and more recently New Jersey. These states allow online gambling in a registered and controlled manner but the activities are being hindered by the fact that three of the top banks in the US are not supporting deposits made by credit cards at online gaming institutions. This includes online casinos, online poker site sand online sports betting. The three top banks that have come out against credit card deposits at the online casino are JP Morgan Chase, Wells Fargo and Amex. The main reasons that these banks are citing for their reluctance to approve credit card transactions is that deposits at the online casinos can lead to large credit losses by the customers and also there are many customer service disputes recorded as a result of transfers to online gaming sites. The banks are not happy with the uncertainty of this industry that is relatively new to them and they are also very wary of the liability. In time as online gaming becomes more and more accepted across the US continent, players at the online casino may be able to rely on their credit card companies and banks but at the moment depositing by cash, wire transfer and electronic checks seems to be the best options.