For merchants, this means loss of transaction amount and incurring chargeback fees. When the third party discovers the unauthorized transaction, they file for a chargeback. Many online fraud cases involve compromised credit cards belonging to third parties. High levels of fraud can even lead to the termination of merchant accounts. Let’s examine the impact of online gambling fraud, chargebacks, and what merchants can do to control it.įraud significantly reduces online gambling profits and taints the reputation of merchants.

While gambling is risky for gamblers, it’s also risky for merchants who have to deal with fraud cases and costly chargebacks. It’s even more impressive when you consider the numerous legal restrictions with which it contends. The value of online wagers is expected to exceed $1 trillion by the end of 2021, according to Juniper Research. Today, the legal online gambling industry is massive and growing fast. Online gambling started gaining traction in the 1990s. Gambling has been around for eons, but the first legal casino was opened in 1638 in Venice, Italy.

Usa player online casino chargeback