***Updated: September 9th, 2020***
Their company name makes a lot more sense when considering many years ago, they once delivered packages throughout the new frontier. It was the mid 19th century and John Warren Butterfield drove stagecoaches across New York State, eventually teaming up with a couple of freight agents on his route, Henry Wells and William Fargo, starting a shipping service called American Express.
Wells and Fargo eventually pitched running routes all the way to California but their idea was rejected by peers at the time. The pair left soon after and started their namesake enterprise, ultimately forming the early industrial backbone of the United States in the process. Of course, that was a long time ago and both are now two of the world’s largest financial organizations.
James Congdell Strong Fargo, son of William Fargo, was running full steam in the 1880s when he took a vacation to Europe, his hands full of letters of credit from prestigious New York City banks, but still unable to cash checks abroad. After returning home he decided to solve the problem and created American Express Travelers Check with pre-set denominations acceptable overseas. For this reason and more, it can be concluded they pioneered international financial consumer transfers to a level where the economy truly became “global”.
Initially “AmEx” was an actual piece of cardboard but in 1958 it was replaced by the world’s first embossed plastic ones. Many don’t realize in the beginning it was a charge card and not credit. Balances could not be carried over month to month and it had to be paid in full upon receiving the bill. They were not just issued freely and customers had to pay to belong, which of course brought a host of unique benefits in addition to “convenience”.
Deposit with American Express
American Express charges substantially higher fees to merchants than others in the business, roughly 4% per transaction versus 1.5% for VISA and MasterCard. For this reason alone, numerous iGaming websites do not accept it and only list competitors. The rationale given for the cost discrepancy is that since cardholders choose to pay for a membership, they must earn more money and aren’t as much of a risk to chargeback purchases. They basically try to build an aura of prestige around their brand that supposedly encircles clients as well. The logic that follows in relation to this industry would be, “anyone who takes it is classy and will attract high rollers,” or something similar.
However, finding a reputable destination is extremely hard as operators aren’t sold on the “elevated perception” of their company being worth increased fees. Especially now that we’ve entered a new age and countless people prefer using Bitcoin casinos or other coins due to speed, cost, and privacy.
So once a place is discovered, be tremendously grateful because they’re getting scarce. It takes a lot of time and expense to offer and these resources could be applied to adding new cryptocurrencies.
After signing up, funding should be relatively quick and painless. Of course, this is assuming transactions aren’t flagged by the American Express security team since it’s one of the main deposit methods affected by UIGEA legislation making processing money for internet gambling illegal. They’re firmly on record as not wanting to be a “Virtual Vegas” and work hard to avoid accidentally facilitating the pursuit.
USA Online Sportsbook AmEx Deposits
If only holding an American Express card and hoping to deposit at a sportsbook, options are going to be very limited. Smaller brands usually accept it because they have fewer members and fly under the radar, not generating much activity. Therefore, it’s seldom offered at large scale operations and often found solely at niche places keeping a low profile.
Don’t be alarmed if purchases are quickly declined as it has one of the lowest success rates in the U.S. and they’re quite particular about where their services are used. If an immediate failure occurs contact the operator’s customer care team and ask if they can complete it manually and if not, go somewhere else or choose another method.
After successfully funding balances an unrecognizable “descriptor” appears on credit card statements, which is absolutely normal because they don’t want to announce what it was for and get flagged. Consequently, descriptors could involve anything from flowers to wedding accessories, or even pizza delivery, and definitely not stating “MyBookie” or something identifiable.
Bigger players in the industry are always under a microscope and 200,000 entires or more in a calendar month with descriptors of “Wanda’s Bridal Boutique” would alert financial institutions and probably get processors shut down. This is all just part of the current landscape and the #1 reason why the best USA betting sites now suggest cryptocurrency before everything else. It’s simply a better way to do business.