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Posts Tagged ‘fund’

Ways to Fund Your Account

Wednesday, December 15th, 2010

Because of the growth in gambling, ways to deposit to your account online are expanding too. There was a time when you could play online games only if you had a credit card and an e-wallet solution. Remember that we have been working under the UIGEA, or Unlawful Internet Gambling Enforcement Act, is still in effect. Sure there are plenty of people fighting the bill, but it has yet to be changes. As of right now the UIGEA is in full effect. That means that financial institutions are still hindered from accepting gambling-related activities or processing them.

For this reason, if you are in the US and want to wager, you have to use an e-wallet solution for gaming. This is one of the most important third-party relationships you are ever going to have. The e-wallet solution is a convenient one. Basically it is the way for a company to hold your money. That company isn’t a bank so it doesn’t fall under the same laws that banks do. This should make it more possible to wager and easier to fund your account. PayPal is an e-wallet solution of sorts, but it does not allow for gambling in the US. The company pulled out of the US when the UIGEA went into effect back in 2006.
If you need to fund your account, you should use some e-wallet like Quick Tender, Neteller, Pay Spark, e-Wallet Xpress, or My Wallet. Any of these companies is reliable and you are going to be able to safely deposit money to them for wagering. In addition, having a third-party hold your money also protects your actual bank account. You control how much you deposit to an e-wallet. If you want to limit your wagering to just $100 this week, you can deposit just that amount. It is a great way to monitor your funds. On the other hand, you also can use a bank transfer to fund an account. This is easy, but you have to be willing to wait for the transfer to go through. Depending on the speed of your bank, this option could take a long time though. The best way to fund your account is to use the e-wallet option.

Lotteries Growing in Popularity

Monday, November 22nd, 2010

One of the fastest growing hobbies in the UK right now is the lottery. Millions of players join in on the state-run lottery in the hopes to cash in on the big payouts. Lotteries are popular throughout the world as ways of generating cash. Sure the payouts are huge, but the lottery organizers keep a huge portion of the overall money they bring in. Lotteries have only gotten more and more popular in the world of gambling and governments love them. The best thing about lotteries is that they are normally highly affordable. You can buy tickets at relatively any denomination, depending on how many chances you want to take. For example, picking one set of five numbers for a lottery may cost just $1.If you want to pick twenty sets of five numbers though, you can easily do that with a $20. There is no limit on how many chances you can take to play a lottery and this is why the games are so popular. Add to that the fact that the payouts for lotteries are normally huge. Consider that some lotteries offer well into the million-dollar ranges of payouts and it is no wonder why people are so excited about taking their own chances at new lotteries.

The money government’s raise via gambling lotteries is normally used for funding various programs. For example, the Nation Lottery of London is portioning out its money for a national fund. Word came from the organization saying that the country has now put money into a fund that will create new facilities, sports fields and event locations to encourage people to play sporting events more. These state of the art locations are supposed to be filled with the regular excitement of gambling, but with an added responsibility to contribute as a means of fund raising for the country. The plan is being called “Places People Play” and should enter the market in 2012. It will take a year to get it up and running but officials are hoping it will spur more and more people to venture into the world of sports gaming, and as a result sports wagering.

Atlantic City Raises $30 Million for Revival

Monday, November 1st, 2010

To the average American $30 million sounds like a lot of money. Millions of people would love to come up with that amount of money via a lottery or inheritance. Most likely it would completely change their lifestyles and help them to attain dreams that were before impossible. If you change the setting though, $30 million isn’t that much. In fact, that is exactly what Atlantic City officials are saying. It’s no secret that Atlantic City has been suffering since the recession. Numbers are down—way down. More casinos are laying off people and that is making matters worse. With more unemployed, there is even less money to fuel into the economy. Without patrons, casinos could face further setbacks involving more layoffs and even closings. Still the market isn’t ready to give up just yet. Casino owners are pooling their money now in the hopes that they can help their own economy to revive. So far it is the Borgata Hotel Casino, the Tropicana, The Trump Entertainment Resort and Harrah’s that are joining forces. As four of the biggest entities in the area, it is hoped that they can come up with a plan to reinvigorate the market, or at least slow down its financial decline long enough to find other reasonable solutions.

The companies have joined together to form the Atlantic City Alliance and are armed with a total of $30 million. The eleven casinos in the area have suffered and this money hopefully will give some relief if used properly. One of the goals of the alliance is to clean up the market. There is a lot of criminal activity in some areas of Atlantic City and some of the locations seem run down. Casino operators hope that they can clean up the areas, revive the market and then hope for relief. Joining forces isn’t unusual in the casino market. there are many other areas that are looking to ban together in an effort to turn their revenues around. It may take some time, but hopefully the casino market will see a revival this coming year and be able to turn itself around.

Michigan Considers Banning Debits Use at Casino ATMs

Friday, October 1st, 2010

There are a lot of changes going on in the market of gambling and it is hard to keep up with all of them. Mainly the issue is that gambling is a billion-dollar industry. It means that legislators everywhere are pushing hard to bring some form of gaming into their markets. Deficits are large and so are budgets. It is hard for people to imagine ways of making changes. Part of that means using gambling to the best advantage for individual economies. The problem though is that the states are still working under the UIGEA, or Unlawful Internet Gambling Enforcement Act. This was a bill that made it difficult to game. The bill made it illegal for financial transactions related to gambling to be authorized. They were denied and any money gained related to gambling was seized by the government. Though it was supposed to help regulate the market, in the end all it did was push gamblers to use offshore gambling companies. This fueled millions out of the country and into other economies.

Michigan is a state that is currently debating a bill that would make using debit cards at casino-based ATMs illegal. This is a huge change that will eliminate another form of funding accounts. Making gaming harder is not necessarily a tactic that will work in the market. Though many legislators have already tried to thwart gambling the past has proven that people who want to gamble will find ways to do so. There are online companies that take US players and gamers can still use other methods to fund their accounts. In addition land-based casinos still accept various funding options so eliminating the debit capability isn’t going to end gambling. it is going to make it less convenient though. If the bill is passed, is going to make gaming in Michigan that much more difficult though. Some states already have this bill and have worked with it effectively. Whether or not it has cut back on gambling, no one yet knows. The past has proven that gamblers are more determined to wager than legislators give them credit for.

Neteller Joins Up with Dinero Mail

Wednesday, September 22nd, 2010

The world of credit cards is not as universal as most people think. In fact, some credit card holders in Latin America don’t see credit the same way others do because they know that it isn’t useable in a host of places. A recent study showed that only 20% of internet users in Latin America can even get international credit card services. Less than that percentage have credit cards that they can use in other areas internationally or online. Most people in Latin America pay for their purchases via cash due to the problems they have with credit. Though for years Neteller was an e-wallet solution for gamers, Latin American gamers have yet to see its convenience. Neteller is now trying to change that though and with their extensive potential, they are just the company to do it.

Neteller recently announced that it has a two-step process to help solve Latin American problems. The company is now working with Dinero Mail, an online payment software solution. Latin American customers have to first put money onto their Dinero Mail accounts and then transfer money via their accounts with Neteller. Neteller will offer a company-specific link directly to Dinero Mail. There is a secure transaction process that involves providing the customer’s own Neteller 12-digit code and confirmation, but overall it is proving to be a viable option for the market. Dinero Mail also has the direct cash funding option now. Right now the company accepts payments via a wide range of retail outlets. That number is set to expand in coming months and also allows players to fund their online gambling accounts. The world of gambling is quickly growing and that means that companies have to have viable options of making it convenient. It is a billion-dollar business and only set to increase in value over the coming years. Almost every country is playing with various rules to legalize gambling online so that means that companies like Neteller and Dinero Mail have a great opportunity to capitalize on that. If they play their cards right, they could start bringing in millions of dollars of their own in revenue due to pending gaming changes in the industry.

AGA Increases Lobbying Funds

Friday, August 13th, 2010

The world of gambling has become big business with a wide range of industries. Not only is it bringing in billions of gaming dollars, but it also is opening the door for sponsors to get their own brands out to a mass number of people in the market. If you look at things like the WSOP then you are going to see how many corporate sponsors are in on the game and advertising at the Poker tournament. They know already that the tournament brings in the numbers and they know that a small advertising spot puts their brand in front of millions worldwide. A testament to what is going on in the market is the AGA, or American Gaming Association’s, recent decision to spend $360,000 lobbying mandatory filings regarding online gambling.

The US has long been dragging its feet on the issue and for a long time relied on the UIGEA, or Unlawful Internet Gambling Enforcement Act of 2006, to square away its online gambling issues. In essence the UIGEA banned all internet gambling transactions from being processed via financial institutions. Any financial institution found to be breaking the law, faced hefty fines and fees. For this reason many banking institutions opted to completely deny any activity that had the least to do with gambling—even lotteries and sports betting activities that by all counts should have been deemed legal. This caused millions of online gamblers to move to offshore gambling companies for their gambling needs and it also managed to channel billions of dollars out of the country and into offshore gambling websites.

Now the AGA is spending more money for lobbying. The organization for the most part is remaining neutral on the issue in the US. It knows full well the progression and hang ups of the issue within the states. Right now the AGA has members including MGM Mirage, Boyd Gaming Corp, Harrah’s Entertainment, Inc., Las Vegas Sands Corp., and Bally Technologies. The company is remaining neutral but would like to get its own operations solidified as the US begins its first moves into making gambling legal and writing laws to regulate it.