Legal casinos bring in not one million dollars to budgets. According to information provided by the IRS (Internal Revenue Service), on average casinos bring in about 10 billion dollars in taxes annually. But along with the official land-based casinos, there are online casinos. Their work is not strictly regulated by law and is not verified.
The situation got worsened with the advent of online Bitcoin casinos. Since bitcoin is an anonymous currency, there is no way to regulate and somehow influence such organizations. In general, the world is becoming more and more independent and free, and on the one hand, this is good, but as always there is a reverse side.
Since online bitcoin casinos are poorly controlled, the likelihood of fraud on the part of such online organizations is much higher. So if you decide to play in online bitcoin casino with instant withdrawal, you have to choose trusted sites, for example like those:
Trusted bitcoin casinos with the highest general amounts of withdrawal
|
Brand |
Number of players |
The total amount of withdrawn funds |
|
7bit |
980 753 |
23712,44 ₿ |
|
FortuneJack |
1 328 565 |
19821,58 ₿ |
|
Katsubet |
678 523 |
17738,45 ₿ |
|
Сryptogames |
658 229 |
133295,87 ₿ |
But suppose you made a mistake and sent money to scammers, what options do you have?
Unfortunately, you cannot write a statement to the police and demand payment of money, because as it was already said, the legislation of the US does not control their activities. But, is it possible to reject payment? The forced reverse payment is calling – chargeback.
What is a chargeback? Is it an effective tool?
A chargeback is a tool that helps the owner of a bank card to dispute the transfer and get the money back. It is carried out by international payment systems (IPS), such as Visa or MasterCard.
To carry out a chargeback, it is necessary that two rules are observed:
- the period of 540 days has not been expired from the moment of the transaction;
- the money was transferred to an account owned by an entity.
The main reasons for a refund are:
- If funds were written off by mistake due to problems in the system program or the issuing bank;
- You paid for the promised service (product), but in the end, you did not receive anything or only partially.
Other factors affecting the chargeback can be viewed in the official documents of companies conducting cash transactions:
- Visa – “Dispute Management Guidelines for Visa Merchants”;
- MasterCard – “Chargeback Guide”.
For some bank workers, a rumor is gaining great popularity, according to which a participant who has become a victim of an online casino cannot make a chargeback. But this is a delusion. In the documents dated 23.02.2021, MasterCard – “Chargeback Guide” clearly states:
“Chargebacks are available to the issuer for transactions in which any value is purchased for gambling, investment or similar purposes”.
How is the chargeback procedure going?
The appeal procedure includes 3 main stages:
- Preparation of documents proving non-compliance with obligations by the online casino. Screenshots from the account for withdrawing money, a copy of the client agreement will do.
- Draw up and send an application. The beauty is that it can be sent to the bank’s email address in writing.
- The final step is an awaiting the decision of the bank. When your application is accepted, the issuing bank examines the facts provided. If they are solid, the issuer contacts the acquiring bank with a request to cancel the payment. The acquirer will write off the funds from the online casino account and return them to the payer if these arguments are enough.
If the acquiring bank did not satisfy the application, then the decision can be appealed. The repeated application is already considered by the arbitration commission of the payment system. But their decision is always carried out and cannot be appealed.
Players can cancel the transaction in the following situations:
- Unreasonably blocked the entrance to the personal account of the site;
- The funds were debited due to problems during the operation of the online casino;
- Requests for withdrawal of money were rejected without explanation.
It is important to prepare evidence so that they prove a violation of the client agreement and non-fulfillment of obligations by the online casino.
Is it easy to cancel a payment yourself?
Of course, in theory, you can write a chargeback application. But you need to be legally savvy in this matter. You will have to devote a lot of time and effort to the study of regulatory documents, their collection, and execution. If this is the first time you are faced with such a situation, it will not be easy without additional help.
You don’t have to bother your nerves and immediately contact a chargeback specialist. They know all the nuances of the procedure. Lawyers will collect evidence, help you write an application, and negotiate with bank employees.
Is it possible to make a chargeback or a forced withdrawal from online bitcoin casinos?
Finally, I would like to pay attention to one of the types of online casinos – bitcoin casino. Is it possible to get a withdrawal from the bitcoin casino? You have to understand, bitcoin is not just a currency, it is also an independent payment system. Bitcoin is completely anonymous and the absence of any traces makes refunds impossible. Therefore, if you made any transfer in bitcoins, no matter who, to a bitcoin casino or to your relative, the money will go away irrevocably. You can return your money only if the recipient sends it back to you. That is why it is very important to choose only verified bitcoin casinos and read carefully the terms & conditions of the deposit.
Most bitcoin casinos have a minimum deposit required. That means that there is a certain amount that the bitcoin casino sets and if you deposit this amount, your money will disappear, they will not be credited to your game account. And this is possible even if this bitcoin casino is reliable, this just rules, and you should study them before playing.
Yes, bitcoin has an undeniable advantage: it is an instant withdrawal from bitcoin casinos, and no one currency or any payment system cannot argue with it. Just look at bitcoin casinos with instant withdrawal and compare their time of payouts in bitcoin and fiat money, the difference is significant. But if you made your payment in bitcoins, then no one will return them for sure, chargeback is possible only in online casinos with fiat currencies.