Online Casinos Continue To Grow Despite Deposit Difficulties

Casino News - February 21st, 2010 - Written By Glen

In 2006, the Unlawful Internet Gambling Enforcement Act, or the UIGEA, had been passed, effectively derailing the booming expansion of online casinos. Though the players would be unharmed by legal ramification, payment processors, both those who would actually direct the money to the casino and the financial institutions holding the funds, would face penalties should they not comply with the law.

The UIGEA was meant to go into effect back in December of 2009, but legislators such as Barney Frank had fought to postpone this deadline. The delay pushed the Act's compliance deadline back by six months, forcing financial intuitions to cease processing gambling payments by June 1st, 2010, or suffer the iron fist of the law. Despite the delay, the two credit card giants, VISA and MasterCard, had made efforts to prevent their cards from being used as online casino deposit methods.

Despite the credit card companies unwillingness to continue processing these payments, online casinos have continued to expand and thrive within the United States. Through these financial woes, American players remain steadfast in being the largest group of online casino players. Many such casinos have managed to continue accepting VISA and MasterCard as deposit methods.

"I use two different online casinos, Sun Palace Casino and Cherry Red Casino," began Joseph Cumberland, an online casino gambler. "I have a VISA debit card and a MasterCard credit card, and both still process my payments without fail."

When asked about which banks issued his cards, Mr. Cumberland replied that his cards were issued by two of the larger banks in the United States - Capital One and Bank of America.

"When I played online poker I couldn't make a deposit at all," continued Cumberland. "My casino accounts are still regularly loaded and accepting my cards."

With legislators pushing to continue the legalization efforts of online casinos, players are optimistic over easier access to online casinos. While some players have reported difficulty making deposits, especially with American Express cards, many more players are still reporting successful deposits. Online casinos are expected to continue their perseverance through the upcoming legislative battle, and even beyond the deadline of the UIGEA should it come into effect.