Money Travels Fast

Before the passing of the Unlawful Internet Gambling Enforcement Act, things in the online gambling world moved along at a pretty good pace. People deposited money into their accounts at places like NETeller, and then were able to play until they needed to deposit more money. However, with the passing of the law, and NETeller being pulled out of the online arena, everything changed seemingly overnight.

It was taking a long time to process payments ever since their withdrawal, since credit card payments were the fastest way to deposit money – but it was now illegal to do so. So now each of the online money handlers had to find a new way of processing money that did not involve credit cards. Sportsbook.com was one of those companies now scrambling to come up with a way to process payments, and they were successful.

They came up with a way to quickly process check payments, and the firm now handles ten times the amount of business than anyone else. They are not the only ones however, Bodog has now reported a faster processing time than they have been operating at, and many at the online community seem to think that things may be getting back to normal. They are processing payments as quickly as within seven days.

Some are still processing slower however. Places like the Golden Palace are still reporting turnarounds of two months or longer. The processor they were using was just shut off from its bank, and now there are insufficient funds to process all of the payments. Some clients say that the banks have no problem taking the money right away, but then they wait for payments back for wins and for crediting to their accounts.

Back to Monthly Archive // Main Slot Machine News Index