***Updated: August 31, 2019***
In 2008, a PayPal style e-wallet was launched specifically for gamblers in the United States for depositing at online casinos without any restrictions. This new option was called UseMyWallet and could be used to fund directly from a bank account with no trouble at all. It was quite unique at the time because it also facilitated withdrawals of winnings, which was very hard to do once the U.S. government shut down Direct Bank Transfers (DBT).
The company behind UseMyWallet made money by charging small fees for each transaction, applied to both the customer and the operator. At their peak they serviced between 100,000 and 200,000 people across America as well as several other countries who restricted gambling-related activity.
Sadly, they closed their doors in 2012 due to pressure from the government and were never heard from again. Therefore, these are the best deposit methods for USA online casinos today, ranked in order based on criteria such as speed, cost, and privacy. Click to check out our simple guides on how to use them and what one needs to know beforehand.
An interesting footnote to their story is that they were primarily used by those in the States but didn’t have “open” registration and only accepted a limited number of applicants. This was in an attempt to avoid drawing unwanted attention from the government as a result of the laws at the time. Many individuals (and law makers) believed it was illegal for financial institutions to process transactions between users and betting sites, something that was overturned in the World Trade Organization courts a few years later.
In any event, they wanted to stay small and circumvent the Department of Justice and the serious penalties that would be sure to follow. However, for the brief moment in time they were operational they became an immediate favorite for places like Bovada and BetOnline who were scrambling to find ways to pay players out their winnings. It’s somewhat ironic DBT was shut down because it was so popular and then their replacement folded for the same reason.
USA Online Casinos that Accept UseMyWallet
What to do now? There are no USA online casinos who currently accept UseMyWallet… given that it hasn’t actually existed since 2012. They were only in business for four short years but certainly made their mark on the industry and today a lot of people still think it exists.
So, are there alternatives to UseMyWallet and similar eWallet-style banking options? Well the best method for depositing at a gambling website is Bitcoin because the process is immediate and there is no paper trail with financial institutions. To be fair, it can be a little intimidating to start using cryptocurrency. It basically means sending money in an untraceable way, and if any issues are encountered, it’s not possible to request an investigation. For this reason, one must make absolutely sure the BTC address has been properly copied and pasted when the transaction is made: if the address is correct, there won’t be any problems.
After deciding to adopt the new technology, the first thing to do is learn how to buy cryptocurrency and open a trading account. The rest is easy and once someone has tried it a few times, it becomes simple and effective.
For those who aren’t ready to take the plunge into Alt Coins, opt for a credit card like VISA or Amex, which have been standard financial tools since the iGaming industry first started in the late 1990s. Just make sure to understand the fees beforehand, as some charge for currency conversions, cash advances, or other “miscellaneous” activities. If you ever get tired of spending all that unnecessary money the alternatives will still be waiting for you.