Electronic Funds transfers?

oldmantime · Jun 20, 2004

I see a few books mentioned like Intertops and Bodog, etc. that allow direct funding from a bank acct to their sportsbook. I have no experience with this, but wonder why others don't do this as well. Is it costly to them or how does this differ from Instacash deposit through Neteller?

There must be a good reason why this is not popular amoung most places.

THE SHRINK · Jun 20, 2004

It's leaves a nice paper trail, if you are into that...

oldmantime · Jun 20, 2004

I over looked the obvious. Thanks Shrink!

Woody0 · Jun 20, 2004

Its pretty standard for the European books. I generally use my UK bank for such transfers. Don't care about a paper trail.

Involves exchange risk but the $ has been sinking against Sterling lately.

OMNIVOROUS FROG · Jun 20, 2004

After 9/11 and the Patriot act, everything leaves a paper trail. Do not be fooled to think otherwise. Safe havens and anonymous accounts are a thing of the past...OF

Fishhead · Jun 20, 2004

Think you are pretty much right on with those comments OF.

oldmantime · Jun 21, 2004

Depositing from bank into Neteller does seem safer than depositing into BoDog .

I mean a bank examiner is not as likely to ask what is Neteller--but it might cross their mind to ask--what is Bodog?

BillDozer · Jun 27, 2004

It comes up as a 3rd party processing name just like neteller. It actually looks more like a financial institution. Neteller.com doesn't hide anything. If you gamble the banks know.

oldmantime · Jun 28, 2004

BillDozer,
If the banks are aware of what Neteller does, than it makes no difference as far as a paper trail?
That's why I would think ANYBODY(in the US) that uses Neteller; would absolutely need to declare winnings for taxes.