Depositing and Withdrawing Money
Posted on June 9, 2008
Filed Under Uncategorized
Gambling sites are online merchants, similar to Amazon.com or Netflix or any other Web site where goods orservices can be purchased. They offer a variety of payment options, although credit cards and e-cash are the most common. Think of it as purchasing a service. The customer (the gambler) logs onto a secure server and transfers money to the merchant (the online gambling site). This is done by filling out an online form, of which the required fields typically include name, address and phone number, plus the account number for the chosen payment mechanism (credit card, debit, e-cash, etc.). When the form is submitted, the information is sent to the site operator, who despoits them into a playing account.
When you deposit money at an online gambling site, an account is set up and you gamble with that money. The account is accessed by entering a unique user ID and password. For all practical purposes, you’ve purchased a stack of virtual chips, and if you gamble it away, you can deposit more money into the account using the same technique. Additional transactions (withdrawals and deposits) are made through the cashier page, which is typically accessible through the site’s main menu or index page. The main difference between online gambling sites and common online retailers is that gambling sites have to provide a means of withdrawing money. It’s the equivalent of cashing in your chips. It’s a much more enjoyable process for obvious reasons, but it’s also easier because the site’s operator already has your banking information.
Gambling sites typically give customers several cash-out options, including bank drafts, wire transfers, and the transfer of funds back inot an account set up by a third-party procesor such as Netellern or Firepay.
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