Online Casino Score

If you have ever attempted to make a deposit at an online gaming site with a credit card, chances are you have encountered some difficulty or issues. In most cases the problem does not lay with your credit card specifically, instead changes in authorization policy. This typically results in a denied transaction.

Some players try four or more credit cards until they find one that authorizes the transaction. Other players have used a credit card to make a deposit at an online casino then one day is not able to make a single transaction with that card. This is all due to credit card company policy changes. For instance, Visa and MasterCard no longer authorize deposits to online gaming sites.

Online casino merchants are assigned the specific code of “7995” of which credit card companies either approve transactions made to and from that code or deny them. This is the most loathed number in the online gambling industry. Since 2009, the 7995 code has resulted in a decline in online gaming revenue by up to 30 percent.

7995 is an identification number of the casino industry which is based on the Standard Industrial Classification (SIC) system. The casino’s processor is coded 7995 by the issuing bank. Therefore, each time a player attempts to use a specific bank’s credit card, the transaction is blocked. Many players will then continue to obtain authorization with other cards until they are approved or run out of credit cards at which point they quit.

This system was first introduced by Visa in 2001. However, the implementation was by a specific merchant was not a requirement. Unfortunately for online casino’s, one of the largest merchant banks, Providian, immediately adopted the system. As a result, the online gaming industry felt the repercussions immediately. Shortly after other banks began to follow the trend and in May 2002 MasterCard introduced a similar program.

Luckily for the player, there are plenty of other options. New alternative payment processing companies are popping up left and right. Despite these numerous payment processing companies, NeTeller still reins king despite restricting U.S.-based customers. Other major companies include:

• Cash card
• PayManager
• ProCyber
• E-Gold
• OneWPS
• 900pay

The restriction of credit cards due to SIC code 7995 for use at online casinos almost crippled the online gaming industry. Luckily the emergence of alternative payment processing companies saved the day for online gamblers.

Online gaming sites continue to add more methods of depositing money. This makes it much easier for players to transfer money to and from online gaming sites. One of the first deposit and withdrawal methods was credit cards. Prior to the gaming crackdown in the United States, it was the preferred method of the few that were available. The newer online banking methods were created in response to the absence of credit cards for gaming.

In order to use a credit card online, you must use one that has not exceed the credit limit. Every casino has a different method of requesting credit card data but the process is fairly similar. These steps include:

• Registration with the casino
• Fill in details
• Select and enter the amount to deposit
• Confirm the deposit

The first step is to register the credit card with the casino. This generally involves inputting the type of credit card, the card number, the expiration date and your name. The next step is to fill in your personal details. This typically includes the billing address associated with the card and a phone number.

After, you must select the amount of money you want to deposit into the casino. At this time you must also input the CCV number. This is a 3 digit security number on the back of every Visa or MasterCard. The CCV number references security checks that ensure the authenticity of the card. This number is difficult to compromise and will only be asked once during the initial card registration process.

The final step is to confirm the deposit of funds into the casino which will complete your transaction. After submittal, you must wait a minute or two prior to receiving confirmation of the outcome of the transaction which is either approved or rejected. If it has been approved, you may begin playing instantly. However, if it is rejected, try a different credit card with a different banking account or use one of the many other deposit methods.

Unfortunately most U.S. players do not have the luxury of using a credit card as a deposit method. Luckily there are plenty of other deposit options available. As the law changes, perhaps in the future U.S. based players will be able to use this as a primary deposit method which will greatly improve revenue for online casinos.