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Trading Cryptocurrency Is Problematic for Regular Gamblers, Rutgers Study Says | Rutgers Today
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Trading Cryptocurrency Is Problematic for Regular Gamblers, Rutgers Study Says | Rutgers Today
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Preliminary findings on cryptocurrency trading among regular gamblers: A new risk for problem gambling? - ScienceDirect
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The number of guides for betting strategies such as hedging your bet, sports arbitrage, and sport-specific statistics makes sports betting advice websites a very lucrative business.
As preseason football games begin airing, diehard fans and other sports enthusiasts study current and past season games, research stats, what out for trades and injuries and doing whatever else they can to start preparing for draft day.
Not the nationally-televised draft, the one planned with friends and family.
In the United States, grown men and women pretend they are owners of imaginary professional sports team that they create on their draft days.
Fantasy sports, specifically fantasy football, not only has become a beloved tradition in the states but a popular new way for people to gamble.
Fantasy football has grown steadily since its beginnings in the 1990s.
According to the Fantasy Sports Trade Association, more than 44 million fantasy sports players entered the market between 2003 and 2017.
In 2017, there was an estimated 59.
The money is spent on league-related costs, single-player challenge games, and league-related materials during a gambling high risk period.
Fantasy sports relies heavily on computers and mobile devices.
In 2016, 39% cape canaveral boat fantasy game players use a mobile device gambling high risk to draft a team, check scores, change a lineup, and research players, according to the association.
That number is up 14% from 2012.
On average, the play three times per month during all sports seasons.
Despite its popularity and its money-making potential, most traditional financial institutions would rather pass then go in and tackle the nuances that come with approving a fantasy football betting merchant account.
Specializing in providing high-risk merchant accounts for fantasy sports businesses, EMB offers customized payment processing solutions for all types and sizes of companies.
To begin the process, apply online now for a fantasy football betting merchant account.
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Once approved, EMB can set up chargeback management tools and a payment gateway.
A fraud filter also can be set up for online payments.
Merchant accounts for all fantasy sports betting Fantasy football, which includes both professional and college games, is the most popular type of virtual sports betting.
EMB wants businesses to succeed.
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During their review, underwriters determine risk.
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Though people often lose money betting on virtual teams, fantasy sports was excluded from the law because it was a game of skill instead of a game of chance.
This has no real consequence for an actual gambler since the law focuses on a party not accepting funds.
Despite this law and the laws of individual states, fantasy football betting merchants can lawfully operate, but banks continue to see them as unnecessarily risky financial endeavors.
Luckily, businesses can get credit card payments processed by applying to EMB for a.
EMB works to get a payment solution that suits each individual business.
It basically comes down to three risks: financial, reputational, and regulatory risks.
When merchants pay their monthly credit card processing bills late or accrue and then default on the cost of excessive chargebacks, processors are left holding the bag.
Though merchants are responsible for running legitimate businesses, processors share some of the liable if they are skirting the laws.
This is another reason why these businesses are high risk.
To protect themselves, processors must work hard and pay more money to check and ensure that merchants are following the rules.
Finally, credit card processors need banks to sponsor them.
Though, for the most part, the public has embraced gambling and fantasy sports, banks remain very cautious.
The nature of the payments fantasy sports takes also increase their risks to processors.
These methods of payments are riskier because they are more vulnerable to fraud.
Why are there so many chargebacks?
Not everyone is a winner It is simple.
When people play a game on the field or behind a computer, that person is taking a chance.
Winners walking away with bragging rights and maybe a cash bonus and losers just walk away.
Many chargeback are due to sore losers.
When gamers lose money, some try to avoid paying for their losses by disputing the credit card transaction, resulting in a chargeback.
Gaming and fantasy sports also is an expensive industry.
When link people place a bet, they often go big before they go home.
What this is really called is friendly fraud.
Basically, people abuse the chargeback system so that they can play games or bet for free.
Unfortunately, industries that sell higher-ticket items or services get targeted more often.
Stop gambling with business, cut chargeback ratios Avoiding chargebacks is the number one way to successfully run a fantasy sports betting business.
Credit card processors can terminate fantasy football betting merchant accounts that have more than 3% chargeback ratios.
The real kicker is that once they have been terminated, it is very difficult to get another fantasy sports betting high risk merchant accounts.
Security is very important when it comes to fantasy sports transactions since they are done electronically via phones and computers.
To prevent customer fraud, merchants need to ensure they are using secure channels jackpot go gambling cs keeping details of every transaction.
Purchases should be recorded, archived, and easily retrievable.
The exact dates and times of transactions, and the IP address of the computer from which the purchase was made should be known in case there is a dispute.
This information can be used to fight a dispute.
In addition to these steps, businesses should be ready to offer full refunds immediately to dissatisfied customers.
Refunds are more cost-effective than excessive chargebacks.
Clearly displaying business names and contact information on all emails, websites, promotional material, and receipts also are perfect ways to prepare clients for what they will see on their credit card statements.
Additionally, sending an automatic email receipt once a transaction is complete also helps remind customers of transactions.
In the case of fantasy football gambling, it also is a good way to bring them back to a site gambling high risk bet again.
The best way to tackle chargebacks Whether chargebacks are won or lost, they hurt merchants.
Using a chargeback mitigation program, like the one offered by EMB, is one of the best ways to slash chargeback ratios by as much as 25%.
This means six out of every 24 potential chargebacks can be mitigated by using this.
CDRN works directly with card issuers and banks, which allows merchants to achieve the highest rate of chargeback resolutions.
Consider this a win-win situation for merchants and processors.
Merchants keep ratios where they need to be and EMB keeps their merchant accounts active.
Fantasy football betting categories Numerical Standard Industrial Classification SIC codes are assigned to all businesses, including fantasy football betting merchants, by the United States and other countries throughout the world.
These codes identify the primary purposes of these businesses.
Federal statistical agencies classify establishments, which are used to collect, analyze, and publish statistical information about similar types of businesses, uses a list of six-digit numerical codes known as the Northern American Classification System NAICS.
The data gathered is used to determine the way the businesses impact the U.
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Having a merchant account allows an account holder to take advantage of merchant cash advances.
When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.
Yes, EMB works with merchants who are building their credit, as well as those who have poor credit.
EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.
Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.
A merchant account is a business account with an acquiring bank.
Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions.
Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.
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The Relationship Between Risk Taking In Casino Gambling And Investments - NuWireInvestor
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Attorneys at Increased Risk for Gambling Addiction | Northstar Problem Gambling Alliance
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However, according to Gallup in the same year, only 52% of Americans invested in the stock market, despite recent stock market gains.
Although gambling and investment are distinct activities, both gambling high risk risk-taking.
How is casino gambling linked?
Casino gambling versus investment Casino gambling is defined as playing games of chance for stakes of money or anything of value.
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Many parallels can be drawn between risk taking in casino gambling and investments.
Although distinct activities, both involve risk-taking and are conceptually linked.
Some types of higher risk investments and speculation are more closely linked to casino gambling than others.

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At first blush, the idea that a gambling high risk could develop a gambling problem might seem far-fetched.
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Preliminary findings on cryptocurrency trading among regular gamblers: A new risk for problem gambling? - ScienceDirect
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Gambling louisiana age first blush, the idea that a lawyer could develop a gambling problem might seem far-fetched.
After all, the highly esteemed, socially acceptable profession is associated with high achievement and prestige.
Yet, upon closer examination, there are a number of unique characteristics about attorneys and their work that put them at an elevated risk of gambling disorder.
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The first is an issue of control.
Of course it was my ego that prevented me from reaching the proper conclusion.
They are also expected to work long hours, so time allegedly spent working late could be time spent gambling.
Accessibility There are two aspects to accessibility that increase the risk of gambling addiction.
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What Can We Learn From Expert Gamblers?: Dylan Evans at TEDxWestlake