Is this considered a safe practice - page 12.

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Quote from: FatFork on May 17, 2023, 07:08:01 AM

Quote from: darkangel11 on May 17, 2023, 06:13:07 AM

Same here, but I've seen one user write about a casino demanding his bank statement and crypto casinos usually don't do that, because they don't use fiat. That's what an exchange would ask for, rather than a casino.

I'm sorry to say, that's not entirely accurate. There are many crypto casinos, including some popular ones (although I won't mention any names), that not only require KYC verification but also may ask for proof of funds from their players. So, before you dive in and start playing, make sure you read through the platform's T&C carefully. Don't want any surprises, right?

This is mostly done to prevent money laundering from gamblers that are always addicted to gambling which is one of the things the government is fighting against to prevent the use of large funds from gamblers which might have gotten the funds from an unknown sources. This measure do require KYC which is a way to know the true identity of a player so that are betting on there platform. Using a KYC casinos need to level of observation so that we can be aware of what source we are dropping our information to prevent it from being used against us.

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Quote from: Crypt0Gore on May 16, 2023, 04:15:36 AM

Is it safe or dumb to use your Credit card for online gambling because of free bonus rewards on signup and initial 3 months purchase? Will you take such risks with your card for such rewards? A friend informed me that some casinos gives better reward if you have a credit card with high credit score at around 800, he mentioned how he make 200$ from Freedom Flex after using over 600$. He also mentioned other like capital one

What are the disadvantages of using a credit card on online casinos? Any? Would you dare do such to earn more money?

because most of the gamblers on the forum will use crypto to play. not many will use their credit cards for gambling. even for online casinos with fiat that I used to use. I always deposit from my bank to my casino account. either I'm too stupid not to know such things, but I'd be more comfortable depositing my bank account.
because now more play in the crypto casinos. I don't pay much attention to that sort of thing. but what is clear is quite risky. but what is provided by the platform, of course solely to make it easier for each of their users. regarding the bonus program, it just attracts more and more users.

devil-soul

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Of course having higher bonuses, conspicuous in various casinos, gambling sites only by registering a card is very tempting i would do so i would keep a second card dedicated only to online sites

BenCodie

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Quote from: Crypt0Gore on May 16, 2023, 04:15:36 AM

Is it safe or dumb to use your Credit card for online gambling because of free bonus rewards on signup and initial 3 months purchase? Will you take such risks with your card for such rewards? A friend informed me that some casinos gives better reward if you have a credit card with high credit score at around 800, he mentioned how he make 200$ from Freedom Flex after using over 600$. He also mentioned other like capital one

What are the disadvantages of using a credit card on online casinos? Any? Would you dare do such to earn more money?

Anyone who is doing this is asking to be a victim of fraud or a credit-line that will end badly. How is this obvious and not an assumption? The credit score requirement. Unless the casino plans to sell the card information or fraudulently use it, why would they ask for a credit score? Or if they weren't planning to do this, then the answer is obvious...they want to get suckers to max their card and then play on credit, which then their credit score is held hostage (higher likelihood of repaying).

Anyone who does this is extremely careless.

FatFork

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Quote from: darkangel11 on May 17, 2023, 06:13:07 AM

Same here, but I've seen one user write about a casino demanding his bank statement and crypto casinos usually don't do that, because they don't use fiat. That's what an exchange would ask for, rather than a casino.

I'm sorry to say, that's not entirely accurate. There are many crypto casinos, including some popular ones (although I won't mention any names), that not only require KYC verification but also may ask for proof of funds from their players. So, before you dive in and start playing, make sure you read through the platform's T&C carefully. Don't want any surprises, right?

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Quote from: Crypt0Gore on May 16, 2023, 04:15:36 AM

Is it safe or dumb to use your Credit card for online gambling because of free bonus rewards on signup and initial 3 months purchase? Will you take such risks with your card for such rewards? A friend informed me that some casinos gives better reward if you have a credit card with high credit score at around 800, he mentioned how he make 200$ from Freedom Flex after using over 600$. He also mentioned other like capital one

What are the disadvantages of using a credit card on online casinos? Any? Would you dare do such to earn more money?

If you talk about debit card I might consider but for credit card, it's a no go way.

I wouldn't risk giving out my credit card details to a gambling site because I'm not sure if the information will be encrypted or not.
Although I haven't seen anyone complained about their credit card details being stolen after exposing it to a gambling site that do encrypt the information they receive from their customers. But I'm still not going to risk it.

darkangel11

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Quote from: Nrcewker on May 17, 2023, 03:48:04 AM

I haven’t seen any Crypto casinos asking for credit card and promising to pay extra if you use credit card to deposit money there. Maybe you talking about the Fiat casinos? As in crypto casinos, you have to directly deposit the cryptos and no point of asking for credit cards there. Nevertheless whether it’s crypto online casino or fiat online casino, if the site doesn’t using any secure payment gateway for the purchases, then you should definitely avoid giving your CC details there, as there are high chances that your information might be leaked.

Same here, but I've seen one user write about a casino demanding his bank statement and crypto casinos usually don't do that, because they don't use fiat. That's what an exchange would ask for, rather than a casino.
IMO paying with a credit card when you don't trust the service is not safe, as many businesses will scam you by enabling a paid subscription. This is common with online stores that offer "customer protection" or some kind of insurance. By paying it once you accept that they'll keep charging you monthly until you resign.
I'd rather use cryptocurrency wherever and whenever I can.

Nrcewker

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I haven’t seen any Crypto casinos asking for credit card and promising to pay extra if you use credit card to deposit money there. Maybe you talking about the Fiat casinos? As in crypto casinos, you have to directly deposit the cryptos and no point of asking for credit cards there. Nevertheless whether it’s crypto online casino or fiat online casino, if the site doesn’t using any secure payment gateway for the purchases, then you should definitely avoid giving your CC details there, as there are high chances that your information might be leaked.

Solosanz

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Quote from: livingfree on May 16, 2023, 06:50:09 PM

Simple, your credit company will detect on how are you spending your money. I wouldn't dare to use my credit card to any casino unless I'm on that situation of life that I badly want to gamble and I've got no other source of money but CC is what I've got left.

That's a way how gambling will ruin your life because you're don't have any money to gamble and you're still forcing yourself to gamble. When you don't have any money and no have any job, I doubt your credit card score would be high, the company know you will not able to pay back especially you're use for gambling.

Make sure you're have money first before you want to gamble, don't take a loan or using credit card to gamble.

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Quote from: Negotiation on May 16, 2023, 10:15:07 PM

Credit cards are a popular payment method because they are fast, convenient and secure. Credit cards are at higher risk in online casinos. Not all casinos work the same The number of people playing has increased dramatically, but credit cards are among the most used and popular payment methods among financial institutions. There are more opportunities for credit card theft, which casino players should always avoid, especially when playing questionable online casinos. Therefore, before using the credit card, the games should be selected well. Since gambling is less guaranteed to win, it is better not to share personal information.

Credit cards should be treated with great care because if you use your credit card details on a scam casino, you have exposed yourself to getting scammed. We shouldn't trust casino with our private information. If you don't find other options to deposit don't deposit.

When you bet with credit cards, you're exposing yourself to losing on both ways, your credit card company might noticed the increase in your credit card spending and trace it to a casino and this might become a problem for you in the future using that company again.

You'll also have your credit scores been reduced and you also lose your bet so it means you lost in both places. Credit card shoudn't used in a way it'll build your credit score not decrease it. Using of your credit cards on casino website isn't a safe practice.

mak013

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In any casino i use only virtual credit card with all the limits - of operations, withdrawal, etc, i don`t remember right now. I don`t sure that i can get some problems using my main credit card, but it is like a habit. I prefer don`t use my phones and credit cards if it is possible. It protects me from spam and probably decrease some risks.

TheUltraElite

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So anyway, I applied as a merit source :)

The reason why crypto based casino became popular is the anonymity or pseudo-anonymity that crypto provides over credit card and other monetary systems. The lack of identification of these gamblers make it safer for them to gamble at an ease and continue their habits without the watchful eyes of their family members and governments. The casinos understand this and hence they avoid credit systems as much as possible.

Such casinos with credit card payment exist but here we are interested in the crypto ones.

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Quote from: davis196 on May 17, 2023, 01:12:32 AM

Quote from: Crypt0Gore on May 16, 2023, 04:15:36 AM

Is it safe or dumb to use your Credit card for online gambling because of free bonus rewards on signup and initial 3 months purchase? Will you take such risks with your card for such rewards? A friend informed me that some casinos gives better reward if you have a credit card with high credit score at around 800, he mentioned how he make 200$ from Freedom Flex after using over 600$. He also mentioned other like capital one

What are the disadvantages of using a credit card on online casinos? Any? Would you dare do such to earn more money?

I don't think that using a credit card is more dangerous than any other payment method(in terms of online security). The problem is that using a credit card might get you into debt, which is something you don't want. In general, credit cards are more convenient than crypto, because you just link the card to your account and you don't have to manually replenish the funds in it.
I would never use a credit card for gambling purposes, but that's just me. I gamble with small amounts and I tend to avoid taking big risks.
I don't care that much about bigger bonuses/rewards, because I know that the casino will try the best it can to take your money, rather than give you any money. This is just marketing. Don't expect to make any profits out of casino bonuses.

This is by far the main problem in the general use of banking products such as a credit card. Especially when a player uses it to pay for their bets in an online casino. You can lose so much that later you will not know where to get money to pay off all this loan money.

There is a huge group of people all over the world who, in principle, never apply for credit cards. And they usually never take bank loans at all. It seems unusual now, but two generations ago, very few people used bank loans. And now, almost the entire population has been enslaved by bankers who make good money on ordinary people by issuing mortgages and various types of loans, including credit cards.

But I consider gambling with such a card to be quite dangerous.

klidex

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Actually involving credit cards in gambling or casinos for me is risky because it's about anonymous.
Even though we gamble, sometimes we don't want other people to know our identity, even if it's to make money, I would say it's not safe.
There are lots of reasons not to take a credit card to a casino but everyone has their own choice to take the risk just for money or choose not to involve anything sensitive to stay safe.

davis196

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Quote from: Crypt0Gore on May 16, 2023, 04:15:36 AM

Is it safe or dumb to use your Credit card for online gambling because of free bonus rewards on signup and initial 3 months purchase? Will you take such risks with your card for such rewards? A friend informed me that some casinos gives better reward if you have a credit card with high credit score at around 800, he mentioned how he make 200$ from Freedom Flex after using over 600$. He also mentioned other like capital one

What are the disadvantages of using a credit card on online casinos? Any? Would you dare do such to earn more money?

I don't think that using a credit card is more dangerous than any other payment method(in terms of online security). The problem is that using a credit card might get you into debt, which is something you don't want. In general, credit cards are more convenient than crypto, because you just link the card to your account and you don't have to manually replenish the funds in it.
I would never use a credit card for gambling purposes, but that's just me. I gamble with small amounts and I tend to avoid taking big risks.
I don't care that much about bigger bonuses/rewards, because I know that the casino will try the best it can to take your money, rather than give you any money. This is just marketing. Don't expect to make any profits out of casino bonuses.

ethereumhunter

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It is unsafe to use your credit card for several reasons, such as credit card breaches that have often occurred and checking from the bank where the credit card was issued because they will see that transactions have been sent to gambling sites, making them want to check further.

Forget about free bonuses that are too much for you when signing up so you won't have any problems in the future. Indeed, you don't encounter any problems now and can get the free bonus, but we don't know what will happen. I would not take a bigger risk using a credit card to deposit to a gambling site. I prefer to deposit money using crypto, which is safer for me.

Negotiation

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Credit cards are a popular payment method because they are fast, convenient and secure. Credit cards are at higher risk in online casinos. Not all casinos work the same The number of people playing has increased dramatically, but credit cards are among the most used and popular payment methods among financial institutions. There are more opportunities for credit card theft, which casino players should always avoid, especially when playing questionable online casinos. Therefore, before using the credit card, the games should be selected well. Since gambling is less guaranteed to win, it is better not to share personal information.

borovichok

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Quote from: Hispo on May 16, 2023, 06:13:27 PM

I would not consider it to be a safe practice, that is why I usually like Bitcoin gambling over FIAT gambling. However, it is a matter of a personal decision.

If you think that the benefit/risk ratio is acceptable, I would say that you can go for it, however, you also need to remember than using a credit card to gamble can have consequences on your credit score if you allow yourself to get carried away by the thrill and the casino games.

Credit and gambling is a bad mixture, after all. So be careful. Tongue

It takes personal decisions to use a credit card or bitcoin; it all revolves around an individual's safety; of course, no one wants to lose his or her money; they are simply seeking for the alternative that is best suited for them. Using credit cards to place bets on gambling sites is risky since your card details will be exposed if it falls into the wrong hands, and believe me, you will become a victim of online fraud. Sites that take Bitcoin for gaming are preferred and safer than using credit cards because these wallet addresses are anonymous and difficult to track.

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Quote from: Crypt0Gore on May 16, 2023, 04:15:36 AM

Is it safe or dumb to use your Credit card for online gambling because of free bonus rewards on signup and initial 3 months purchase?

It's generally a bad idea, but if you make perfectly rational use of it, it will be the same as using a debit card. The problem is that few people make perfectly rational use of it.

There are credit cards that don't give you rewards, so it wouldn't be worth it at all, and you have to be aware that the ones that do give you rewards are just encouraging you to spend, and many people end up spending more for rewards than they would with a debit or cash card.

Credit cards are much more interesting to financial institutions than they are to you, which is why they promote them so much.

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it is always a good thing that I never have credit card all my life , even my wife that has Hers ? i made her stop using that card and live without the use of crediting and indeed , i am aware of the possibilities of dealing in gambling using card.
so nowadays I only allow to use my crypto wallet that she allows me to have and the amount is all that I can afford to spend .
this is about our mind set and respect to our hard earned money .

Quote from: Hispo on May 16, 2023, 06:13:27 PM

I would not consider it to be a safe practice, that is why I usually like Bitcoin gambling over FIAT gambling. However, it is a matter of a personal decision.

well as we are in crypto , most of us are gambling using crypto but yeah only few uses credit cards.

Quote

if you allow yourself to get carried away by the thrill and the casino games.

and this one , even if we will not intentionally wanted , yet since we have credit cards and can carry spending a little too
high then that is what the intention of the gambling site to be with.
so try not to use card or else.

Quote

Credit and gambling is a bad mixture, after all. So be careful. Tongue

+1

Topic: Is this considered a safe practice - page 12. (Read 1527 times)