Trouble gambling with credit cards

Visa was the first credit card company to block casinos from allowing (and encouraging) gamblers to load up their credit card balances with casino bound cash advances. MasterCard, American Express, and Discover followed quickly. Despite lower and lower "high risk" transaction limits, and the effects of the Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006 which made it illegal for banks to take transactions from online casinos (except for horse racing and the lottery), despite these credit card curbs, consumer credit card abuses have become the largest issue for gambling operators. According to a recent article in OG PAPER, 70% of credit card deposits to online casinos fail. This leaves most casinos with only a few e-wallet services and ACH transaction options. Read the story here.