The online and casino gaming industries are rapidly expanding. However, many of the companies are new and have little prior experience or credit history. A lack of credit or a low credit score increases the likelihood that a company will be unable to repay any debts owed to a merchant or bank account provider. The same is true for processors who take on greater financial risks.
Furthermore, online casinos are frequently the target of fraud. Customers who have changed their minds can object to a transaction. Their credit cards had not been stolen. They decided that they did not want to pay for the service.
Despite the fact that online casino has emerged as an important and profitable part of the gambling industry, banks consider it too risky. Gaming companies and casinos are prone to excessive chargebacks and refunds, as well as higher turnover. This increases the risk for which the processor will most likely be held liable when processing credit card transactions for the company.
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