25th of November 2010 Author: Ava Jackuard
With EwalletXpress no longer a banking option, bingo sites scurry to find other processors. The most hard hit is the US market where processors are limited. As more wallets are not accepting US players, it is becoming more difficult to gamble online. The online gambling market has yet again taken another blow with the most recent closing of EwalletXpress.
The Unlawful Internet Gambling Enforcement Act (UIGEA) in 2006 prohibited financial institutions from processing transactions for the purpose of online gambling. Americans woke up to find that funding their accounts was no easy task. Funding options like Neteller and PayPal dropped the US market from processing transactions. Visa and Mastercard has also declined the US from depositing funds into online gambling accounts. FirePay closed their doors in 2007 after being seized by US authorities.
Third party processors like Quicktender, EwalletXpress and other wallets came on the rise, giving US players an alternative depositing method. EwalletXpress is the first wallet that has ran into complications and is currently not in service after the alleged seize by the Department of Justice. When and if EwalletXpress will be back in service is still under a shroud of mystery. No official statement confirming the closing of EwalletXpress has been made.
As a result online bingo gambling sites have implemented new deposit options for US players. Among the popular depositing methods are iPoint and Cashgrade. iPoint allows credit card transactions that are processed through your cell phone. Funds are usually available within ten minutes. Cashgrade offers depositing through wire transfer or e-checks. In addition to these there is new wallets available, replacing EwalletXpress. Money Line Wallet allows players to transfer funds directly from their banking account. They promise to provide fast and safe deposits. Money transfers are still available but take longer to process before funds are added to your account.
With all the current upheaval of losing a big processor as EwalletXpress, US players can rest assured that the outlook is not as bleak after all.
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