Online Casino Merchant Accounts Offshore: Has the US Lost the Battle?

As we already know that online casinos are not only based offshore but also hire the help of high risk merchant account providers, we can be assured that our accounts and transactions are being taken cared of. In fact, this is mostly what online casinos would tout of when it comes to payment processing: that they can process multiple currencies, process various types of payments (even non-virtual ones), and above all process these payments securely. At the end of it all, what more could a customer ask for? Of course whatever perks the online casinos would like to put in their array of attractions, it's up to them.

ONLINE CASINO MERCHANT ACCOUNTS OFFSHORE: HAS THE U.S. LOST THE BATTLE?

The US government has gone a long way to show its clear distaste of the online gambling institutions in the country. One that gave the most impact is when US players are prohibited from using their credit cards to pay online casinos and online casinos are just as disallowed from transacting payments made via US credit cards and other payment methods. This has eventually meant that online casinos will be not only be based offshore, but will be transacting payments that are non-US based, even though the majority of the players themselves come from the country.

The UK, however, has practically opened its floodgates to online gambling. Poker rooms and sportsbooks may soon be able to advertise on TV, allowing more players to invest on the games and thus increase the gambling companies' revenue. Does this spell more opportunity for high risk merchants doing business offshore? Of course. Even though profit is regrettably US-deprived, casino merchants may still be able to find relief from the fact that other areas of the world will still generate as much revenue in the near future.

A good example would be in Asia. In India alone, casino resorts are being built annexed to tourist spots such as Goa in order to attract more players. That includes not only land-based but hosted online casinos as well. In other parts of the world, companies are seeing more and more casino domains sprouting up to cater to online poker, roulette, blackjack, slots, lottery, and bingo players. This may mean more competition, but more value added services and features for the casino players.

As we already know that online casinos are not only based offshore but also hire the help of high risk merchant account providers, we can be assured that our accounts and transactions are being taken cared of. In fact, this is mostly what online casinos would tout of when it comes to payment processing: that they can process multiple currencies, process various types of payments (even non-virtual ones), and above all process these payments securely. At the end of it all, what more could a customer ask for? Of course whatever perks the online casinos would like to put in their array of attractions, it's up to them.

We can conclude that despite the online poker ban, online casino disputes, online payment processing regulations, and other issues concerning online gambling, this industry survives. In fact, reports have shown that regardless of setbacks, online gambling is a phenomenon that flourishes and helps countries earn from tax revenues these businesses generate. Whether the US has decided to totally ban online gambling or relax on its restrictions makes not much difference.

And for as long as players play and online casinos provide good entertainment and service, high risk merchant account providers will also make money. Because they are based offshore, online casinos benefit from the low taxation rates and laissez faire regulations in places like Panama, Gibraltar or the Caribbean. As everyone knows in the industry, it is virtually impossible for online casinos to own a domestic (U.S.) merchant account.