Is this the end of credit card payments?

[Alex]

From the "it ain't my fault" file:

LOS ANGELES (AP) -- The Internet gambling industry may be in danger, in the wake of legal action by gamblers. Laws dating back to the 18th century make gambling debts legally un-collectable in all 50 states. That's prompting some bettors to sue credit card issuers to have their gambling losses canceled -- if those losses were incurred by way of the online use of the credit card.
Now, Providian Bank in San Francisco -- one of the nation's largest Visa card issuers -- says it won't process gambling transactions for its 11 million customers. Other card issuers are expected to follow suit. If enough of them do, observers say that could kill on-line gambling by eliminating the only convenient way to pay.

[wintermute]

Only convenient way to pay?????????

I hardly consider it inconvenient to send a check in a FedEx envelope. Two days at the most to get there and most books will pick up the tab.

'mute

[warawara]

With some sportsbooks it does take some more time, because not only does the fedex take 1 or 2 days, the banks need up to and sometimes more then 10 days to clear you check.
This all because of the nature of commerce we are all in?

How do the Australian and English books do this, through american banks, or through England, Denmark or other countries?

[Alex]

Wara,

I'm not sure if this answers your question, but some books simply do direct transfers between the bank accounts.

I think the credit card ban, if it catches on, would stop only people who decide to open accounts in the spur of the moment.

[Cons]

I actually consider credit cards the most inconvenient way to bet... never used them in fact. Don't like them at all in real life as well, and use them very rarely.

There's numerous other ways to pay: personal check, bank check, wire transfer, Western Union...

Bankers cheque works best for me...

[reno]

I have previously posted the following question: What percentage of money that sports books,in general,receive from bettors is via credit cards?

No one responded before. Can anyone respond now? I would also like to hear from some sportsbooks to get their take on how they foresee the possibility of credit card companies no longer processing gambling transactions impacting their business.

[mls]

What about Check (debit) Cards?

Since they operate as a check, not a credit card, why couldn't a book accept them?

Assuming debit (check) cards are (a) collected faster than credit cards, and (b) are enforceable (since they are not "debs" at all), I could see books refusing credit cards but accepting check cards (as some U.S. gas stations do).

IMO books should accept only check cards (anyone with a U.S. bank account can get one for free from their bank).

[Cons]

Mls, check cards in the UK work wonders with sportsbooks. I have this card that's only available in the UK (called a "Switch" debit card), and it basically let's me bet with a dozen books while never posting up with any of them! My bets go straight off the card, and as soon as the game is over they go straight back on the card. It's really like I'm posting up with all British books at the same time, except that all my money is in one central bank account under my name. Maybe it's the same in the US?

[Alex]

I think I read here once that a sportsbook offers its own debit card. Anyone know?

[dragonboy]

Millenium and NASA International offers a debit MASTERCARD/VISA.......I have the Millenium one and have used it several times with no problems.....your winnings can be depostited into this card with no charge...coolest thing is that the card is issued from an offshore bank in Belize thus none of your financial transactions can be seen by UNCLE SAM.

[AussieVamp2]

Australia and England have their own banks, so won't care what US ones do

Have not heard any junk about credit card gambling debts being unenforceable, because the laws are different

[Cons]

Well, I've dealt with Australian, English, and American banks in my life, and I actually rank them precisely in that order. And that's not even taking into account the fact that the US gov't now has nothing better to do than focus on offshore gambling...

If I was still in the US, I think I'd certainly have offshore bank accounts to use for wagering purposes, and the Millenium credit card would sound really good as well.

[Alex]

Thanks Dragonboy.

How about taking the next step - Are there any books where my employer can just direct deposit my salary?

[Rawhide]

ABC also has a debit card