J.P. Morgan Chase‚ American Express and Wells Fargo all have stopped accepting transactions involving any online gambling.
“We don′t allow credit card transactions for this activity‚” said Steve O′Halloran‚ director of public relations and public affairs for Chase Card and Merchant Services.
Sanette Chao‚ a spokeswoman for American Express‚ said the financial services company “prohibits the use of the card for gambling services.”
“Gambling services‚ historically‚ account for a high number of card member credit losses and customer service disputes‚” Chao said.
“In compliance with regulation GG (Unlawful Internet Gambling Enforcement Act of 2006)‚ we prohibit the use of consumer credit cards for Internet gambling‚” said Brown‚ vice president of consumer lending communications with Wells Fargo. “The networks (Visa‚ MasterCard and American Express) monitor the merchant category codes and block charges that don′t comply with federal regulations.” – GPWA
What is Bitcoin?
With these rules narrowing down options of recreational or professional gamblers, another well-accepted alternative is available in the form of the cryptocurrency, bitcoin.
The emergence of bitcoin is also the birth of bitcoin gambling sites.
In view of this‚ Ole Group International with many years of experience in the gambling industry in the South East Asian region made a bold move of starting a subsidiary fit for the bitcoin market.
This gave birth to SBOBitcoin‚ an agent for opening an account for sportsbook‚ casino and poker with renowned market leader like SBOBET‚ IBCBET and Pinnacle using Bitcoin transaction types that can be executed very quickly‚ either deposits or withdrawals.
This alternative will give way for the recreational and professional punters to give their passion a go!
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