| Posted by: tedm at April 3, 2002, 5:36 pm | | Topic: Paypal question Forum: Winner Online |
A lot of casinos offer bonuses of 10% or so for Paypal and Firepay deposits. I understand that there is a transaction cost associated with traditional credit cards and that perhaps the fee is reduced on these forms on payment.
More important these mediums do not really offer any reasonable way to charge back, and this is why I think casinos offer these bonuses.
Now, I have a question. Assume I use Paypal for all my deposits. Let's say a casino pulls a fast one and closes down with all funds (as happened with Ascot, TCO, Merlin, etc....) Do Paypal depositers have any way of recouping at least their original deposits?
VISA or MC holders can charge back and they will not be challenged if the casino has indeed closed up shop (as happened with Ascot which had about $4,000 USD of my money). The $1,000,000 question is whether Paypal depositers have any protection?
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