Safe and secure internet gambling initiative

Safe and Secure Internet Gambling Intiative

While online poker transactions would also be cash advances, they would not be subjected to third party fees.

The proposal to exclude credit card deposits from federal online poker has the best of intentions. No other deposit options are specifically excluded in the Poker Freedom Act. Players using a credit card to make a deposit could be required to accept withdrawals using the same method. Many of these options are far more expensive than accepting credit cards directly at the online poker room.

Safe and Secure Internet Gambling InitiativeInformation Collected by SSIGI

We reserve the right to make changes to our site, policies, and conditions of use at any time. Credit Card deposits offer a layer of security that goes above that provided by ewallets. All transactional pages are protected. This will provide an additional layer of protection that may not be found using ewallets or bank accounts to make an online poker deposit.

Potential fraudsters would need a lot of information about their victim to be successful. Problem gambling is an issue that affects the brick and mortar and interactive casino industry. This provides a temporary credit card number to use with online merchants and not require players to expose their bank information.

The deposit process will require the security code imprinted on the front or back of the credit card to complete the transaction. There are several other reasons that credit cards may be a favorable deposit option for online poker. In reality, players that want to borrow money to play online poker will find a way.

Safe and Secure Internet Gambling Initiative

Safe and secure internet gambling initiative

Safe and Secure Internet Gambling Intiative

Nevada and New Jersey allow a player to make a deposit in person at a casino cage. The Ban would leave consumers at greater, not lesser, risk due to protections credit cards have compared to other payment vehicles. It appears the credit card exclusion was added to keep problem gamblers from getting into debt. The address of the card holder must also be submitted for approval. Credit card issuers are known to question card holders about transactions that appear to be suspicious using a formula that flags unusual activity.

For example, a player must have the actual credit card in hand to initiate a deposit. Ewallet, bank wires and electronic funds transfers do not currently offer this same protection.

This could prevent money laundering and other types of fraud. Credit card processors often use codes to identify transactions to the issuing bank. This bill would create federal framework for a national online poker system. Controls to Combat Money Laundering Players using a credit card to make a deposit could be required to accept withdrawals using the same method. The spirit of the bill has wide support from the online poker industry.

Barton, online casino boni Michael Waxman of the Safe and Secure Internet Gambling Initiative asks for this proposed ban on credit card deposits to be reconsidered. The Safe and Secure Internet Gambling Initiative makes a number of points about why credit cards provide a safe deposit method for players. By visiting safeandsecureig. The group points out several ways a player could take out an unsecured loan to fund their online poker account. Using this or a similar code on regulated online gambling transactions would help prevent underage and excluded players from being able to make a deposit.