Online Gambling Payment Processing

July 25, 2008

The fact of the matter is that with the passing of the Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006, payment processing for online gambling got a lot slower and a lot harder. Most online gamblers have not felt the pinch until recently as the government has really started cracking down on banks to stop all transactions.

The banks have already let it be known that they are not pleased with the new regulations, which they say are all but impossible to enforce. Their concern is that in trying to block online gambling transactions, they are blocking legal transactions as well.

Now the online gambling community is really starting to see it. Some have been complaining about bounced checks or it taking much longer to get their money. Some were using certain payment processors only to now find that they were not working any longer. Many of the online companies have stopped allowing US residents to process any funds at all through them for fear that they will be prosecuted by the federal government.

Many of them are understandably angry at the situation. They feel that the US has overstepped their boundaries in telling people what they can and cannot do in the privacy of their own homes. They also have a problem with the government telling them what they can and can�t do with their money that they have worked so hard to earn.

Those sites that are still processing online gambling payouts are taking at least a month to do so, whereas before it used to be instantaneous. Checks from major online casinos such as Bodog are taking 45 days to process instead of the 10-15 days that it used to take. For many people online gambling is a way they supplement their income. By holding up their payments, they are putting them in jeopardy of being behind in their bills.

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