Simple Question on Credit Card Deposits to sportsbooks

trytrytry · Nov 11, 2003

if a book takes a credit card to deposit (im looking at 222.ibetX.com) is that a cash advance or a purchase? Seems very expensive way to send funds if its a cash advance as the sportsbook will not cover that big fee.

Second question. If you win and you want to collect funds via credit card. How does that work. IF you win a bunch and they send to your credit card does it just make you a positive balance on your credit card until you spend that much? Will the credit card send you a check for a large positive balance? Id hate to pay all the fees of a cash transfer in collecting from my credit card in an ATM or whatever (2.5% or so?).

Chadster · Nov 11, 2003

It depends on if the processing is coded or not. if its coded meaning they show its gambling related charge then it can either be declined depending on your bank and or accepted with or without a cash advance fee. its up to the cc company.

know this if it goes through as a cash advance it CANNOT be charged back in the event you are a scammer or a dispute arises.

Chadster · Nov 11, 2003

most books only credit back what you deposited. ant more than that and u send up flags. u already are by crediting back the card but more so by crediting back more than u purchased.

TTinCO · Nov 11, 2003

My experience has been that once your take ANY withdrawal out on a debit\credit card, that card seems to be blacklisted almost instantly.

...and yes, assuming that you do not pay the CC bill in full, it usually is a cash advance, and is very expensive.

Chadster · Nov 11, 2003

depending on the amount and the frequency of depsoits i know some books pay the cash advance fees for you.

skiey · Nov 11, 2003

Normally books will cash back the deposited amount to credit card.The rest of winning amount will be sent by cheque.

Chadster · Nov 11, 2003

tttinco if the book stays with one processor the whole time and never changes the coding or company on the transactions then yes eventually all cc's will not go through but if they stay on top of things always changing names of codes and working with different companies then they will stay ahead of the game.

TTinCO · Nov 11, 2003

Thanks for the info Jay....I'll have to look into that. I would LOVE to ditch Neteller & their fees and go back to my beloved Visa debit card.

rugby · Nov 11, 2003

I use a cc for my account with linesmaker, and it goes through as a purchase. SoI think it just depends on the book......GL

trytrytry · Nov 11, 2003

i tried just to see and my credit cards were not even accepted by ibetx.com. They were turned down for some reason. My company must flag gambling sites and not allow to send cash. Can they do that? Its my money?

cashin · Nov 11, 2003

yes it it your money- but using their electronic transfer system takes the cake- no go my friend

jeffry22 · Nov 11, 2003

Iuse an mbna card and it always goes through as a purchase, when I cash out it is never credited back to my card but is sent as a check.

cashin · Nov 11, 2003

jeff-cryptic what book takes mbna?

Chadster · Nov 11, 2003

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by jeffry22:
Iuse an mbna card and it always goes through as a purchase, when I cash out it is never credited back to my card but is sent as a check.<HR></BLOCKQUOTE>

Legally by VISA MASTERCARD agreement that have to credit back card the original amount. Go to the mall and buy something with a cc and then try and return that item and get cash. They won't do it.

Simple Question on Credit Card Deposits to sportsbooks

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