• About
  • Mortgage Basics
  • $40K Challenge
  • Aunt Doris
  • Grandfather Says
  • Privacy
  • Archives

Len Penzo dot Com

The offbeat personal finance blog for responsible people.

Why You Should Be Careful Before Gambling Online with a Credit Card

By Enero Febrero

Using online services such as shopping and streaming services often requires the use of credit cards. And online gambling – which has become increasingly popular in recent years – is no different.

Of course, time and time again we are warned about being cautious when using our cards to make payments online and online casinos are no exception. With that in mind, let’s look at a few factors you should be wary of when choosing an online casino to wager on using your credit card. You may be surprised to learn that there are many more dangers of using credit cards than you can avoid. Here are some of the biggest:

Payout Times

Using your credit card when wagering can be seen as easy and hassle-free at first glance – but many times the payout and deposit times are ignored by players, which leads to disappointment. This is especially true when the card of choice with said casino has extremely long payout times, so always make sure you are aware of the payout times before heading over to play.

Card Fees

There are common credit card fees which you can avoid with careful planning but, unfortunately, this is not always the case. If you make a withdrawal or a deposit, be aware that there may be costs associated with it. Some credit card casinos impose a fixed cost of 3%, while others don’t charge any fees at all to players. So before you proceed, be sure to thoroughly read the terms and conditions in the banking section.

Shady Casinos

Choosing a good casino is easier said than done with the sheer number of online casinos available. That being said finding a list of reputable out of state credit card friendly casinos is essential before heading over to play because they ensure a fun and hassle-free gambling experience while also providing detailed and useful information regarding different casino options, bonuses and promotions. Taking your time to choose a good casino is a sure way of making the most out of your time, in our experience rushing to the first casino that pops up is generally a bad idea.

Limited Game Variety

Depending on what sort of games you prefer to play it might be better to choose one online casino over the other. Let’s say you strictly play slots; there’s no reason to pick an online site that provides live dealer tables as its main feature if it means they’re offering fewer slots than a casino site thats more focused on slot machines.

Poor Customer Service

Before using your credit card one should make sure your online casino of choice provides good customer service. This is especially true for offshore online casinos – not because they aren’t trustworthy, but rather due to the opening hours. Customer service with 24/7 support is always your best option, but if the casino doesn’t offer 24/7 support, then make sure they’re at least open during the time period you plan to wager in.

Weak Security

All websites – whether they are casinos, shopping sites or whatever – constantly require data to be sent back and forth between the user and said site. And data can be used for a number of reasons – even malicious ones. This is why you should only use casino sites that take their customer’s data seriously. So make sure you preferred online casino is using data encryption technologies such as SSL encryption before taking any further steps.

Unlicensed Sites

With the I-gaming sector going crazy many new sites are coming to light. That being said not every site has good intentions for its players; in fact, many are Ponzi-scheme sites that are ready to scam any unfortunate gamer that lands on them. The good news is licensed sites are less likely to be Ponzi schemes as they must adhere to strict ongoing checks ups while maintaining the guidelines and restrictions of a said authority site. Checking for license badges can be a quick and easy way of making sure the site adheres to basic honor principles with its clients.

Conclusion

Just as you should look at financial tips when you are a teen/in your twenties, it’s also ideal to do your research on online casinos before heading straight over to play for real money. After all, it’s obvious that the popularity of online casinos means they aren’t disappearing anytime soon – and neither are credit cards.

Photo Credit: stock photo

June 10, 2022

Comments

  1. 1

    Shane says

    Stay away from online roulette and keno. Your best best is always blackjack. Ask me how I know.

    • 2

      Len Penzo says

      I can only imagine, Shane. Hopefully you didn’t pay too much for the education.

The Question of the Week:

Will you be taking a summer road trip of 500 miles or more this year?

View Results

Loading ... Loading ...

Recent Posts

  • Black Coffee: The Sky’s the Limit
  • The Difference Between Real Wealth and Paper Wealth
  • Savings Tips for High School Grads: 6 Ways to Kick-Start Your Savings
  • Shopping In the Modern Age: Does the Internet Encourage Overspending?
  • 9 Ways to Ensure Your Road Trip Sucks
  • Black Coffee: Tick Tock Goes the Debt Clock
  • Grandfather Says: The Continuing Chronicles of Elaine, Part 15
  • How to Determine If Your Artwork Is Valuable
  • 6 Ways to Clean Out Your House for Cash This Spring
  • 12 Good Reasons Why You Should (and Shouldn’t) Pay Off Your Mortgage Early

Disclaimer

This site is for informational and entertainment purposes only, and the content herein should not be mistaken for professional financial advice. In fact, making investment decisions based on information published here, or any other website for that matter, is more than unwise; it is folly. This website accepts advertising in the form of monetary and other compensation; as such, topics of discussion are occasionally influenced by these advertisers. Sometimes, an article may also include affiliate links, meaning, at no additional cost to you, this blog earns a commission if you click through and make a purchase (for example, as an Amazon Associate I earn from qualifying purchases). Remember, you and you alone are responsible for the decisions you make in life, so please contact an independent financial professional for advice regarding your unique personal situation.

Sign up for the weekly Len Penzo dot Com newsletter
Len Penzo dot Com Delivered Weekly
Join more than 40,000 readers and fans who enjoy personal finance and macroeconomics with an offbeat twist!
Invalid email address
Thanks for subscribing!

Popular Now:

  1. 1. How to Fix Your Finances Without More Money
  2. 2. 34 Financial Tricks to Help You Retire Early
  3. 3. Why Coffee Drinkers Waste More Than Money at Starbucks
  4. 4. How Smart Couples Save Money by Gaming the System
  5. 5. Effective Negotiating Tactics Everyone Should Know
  6. 6. Credit or Debit: Which One Is Actually Better?
  7. 7. Is the Payback Period on Energy Efficient Lights Too Long?
  8. 8. Why Paying Off the Mortgage Early May Be a Big Mistake
  9. 9. Historical Gold & Silver Benchmarks for Wages and Commodities
  10. 10. 4 Good Reasons Why Some Quarters Are Painted Red

All-Time Most Popular:

  1. 1. 19 Things Your Millionaire Neighbor Won’t Tell You
  2. 2. Dear Friend: Here Are 41 Reasons Why I’m NOT Lending the Money
  3. 3. Why Your Expensive Luxury Car Doesn’t Impress Smart People
  4. 4. If You Can’t Live on $40,000 Annually It’s Your Own Fault
  5. 5. 21 Reasons Why Corner Lots Are for Suckers
  6. 6. 4 Smart Reasons Why College Isn’t for Everyone
  7. 7. 18 Fast Facts About Social Security Numbers
  8. 8. My Ketchup Taste Test: Upset! Guess Which Brand Topped Heinz
  9. 9. Why I Prefer a Spreadsheet to Track Expenses and Manage My Finances
  10. 10. Here’s a Simple Trick for Getting Credit Card Interest Charges Waived

Copyright © 2023 Len Penzo dot Com · All Rights Reserved · Designed by Nuts and Bolts Media

© Len Penzo dot Com 2008–2023

x
x