American Express is one of the world’s most popular payment methods for businessmen. It was once widely common in the online casino world, too. There are several types of American Express card, and some of them can be used at online casinos. If you’re thinking of depositing cash at your favourite casinos, though, you may wish to read this article to learn about Amex casino deposits.
American Express (also known as Amex) was first founded in 1850, so it has a long and proud history. They didn’t start issuing credit cards until 1958, after other charge cards become popular in the United States. If you carry an American Express card, it is seen as a sign of a really good job, or somebody who has money to spend. This is because you typically need a very high credit rating in order to be able to use these cards. You can buy virtually anything with them, especially online casino play?
There was a time when there was a wealth of casinos accepting Amex. That has kind of changed now, though. Today, the number American Express real money casinos online has dropped signifigantly. This is mostly due to strict laws forbidding banks from being able to process casino transactions in the United States. To answer the question is Amex accepted by online casinos, we have to say, yes; but only in a handful of online casino gambling sites.
American Express is now largely discarded by most major online casinos, due to the Federal Wire Act and the controversial Bush Administration followup, the Unlawful Internet Gambling Enforcement Act (UIGEA).
UIGEA essentially makes criminal the processing of transactions by financial institutions based in the US. Nevertheless, there are a small number of US online casinos which manage to circumvent this particular legal issue. Another reason for the decline of AMEX online casino use, are the onerous chrges levied to the merchants for using the card. Competition is a great thing and there will always be someone to provide a better and less expensive service for the online casino industry.
It is really difficult to say whether or not there will be more American Express accepted casinos online in the future. It really all depends on the strict laws of online gambling transactions in the USA. If the USA dials down some of its restrictions, we could see many more casinos offering Amex as a real money payment method. However, until that day arrives, the number of online casinos accepting Amex is likely to be rather small in number. A brief look at the history of the American Express credit card and its modern-day relationship with online casinos, is somewhat handcuffed legally vis-a-vis accepting this payment method. Although not going away anytime soon, there are many other options for payment methods at online casinos