Gambling Credit Card

by Jerry "Jet" Whittaker
May 1, 2006

What is a credit card?

A small card issued to the users of a retail transaction settlement and credit system can be called a ‘Credit Card’. It is usually a plastic card that is different from a debit card. The difference between a debit card and credit card is that in the former, one can use the card to remove the money from his account, while in the later; the issuer lends money to the user. At times, people tend to use the terms ‘credit card’ and ‘charge card’ interchangeably, however, in case of charge cards, the balance has to be paid in full every month, while in case of a credit card, the consumers can have any balance and are charged interest. Generally, all the credit cards are of the same shape and size (according to the specification of ISO 7810 standard).

Gambling Credit Card –

These credit cards are used on the same principle as other credit cards. It is used to play different card games in the card rooms or on the internet (online casinos). Here is some more description about the gambling credit cards.

Online Gambling Credit Card –

Using the online gambling credit card, one can pay the money to the online casinos. Most of the online casinos accept Visa and MasterCard.

The casinos of North America do not accept the credit card purchase. Not that they don’t want money but, as per the regulations of the credit card companies, the merchant ( or the casino in this case) has to identify the credit card transaction as 7995 (transaction 7995 represents the purchase of tokens for the purpose of Internet Gambling) and most of the US banks do not accept the high-risk transactions.  

The credit card can be used in two ways in this case (which have become quite common with the North American residents for depositing funds into online casinos) – either by opening an account at Pay Pal or at Fire Pay. The credit card can be tied up with either of these accounts and any online gambling transaction will be considered as a pseudo-cash transaction. Casinos even give additional bonus to people using one of these methods.

Depositing money by an ACH (through an electronic check), by wire check, Neteller or Layeway or sending funds through Western Union online are some other ways through which funds can be deposited into online casinos. Many casinos even offer incentives for making a purchase by Western Union.

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