As a major financial services company, with a tradition longer than one and a half century, American Express (shortly AmEx) has penetrated all layers of commerce, trade and services. Throughout its history, it has changed from an express delivery business into one of the most powerful and widespread payment methods in the world, available in more than 130 countries, but primarily in the United States.
Without a doubt, taking into account the range of its offering, the variety of credit cards it offers and the expansion it has pursued, American Express is these days one of the major competitors to companies like Visa, Master Card, Maestro, Diners, etc. However, things are not really the same in the world of online gambling, especially in case of poker rooms.
How does Amex work?
The answer is easy – just like any other credit card. In order to make a deposit, you just need to insert your name, card number, amount to be deposited, expiration date, and the security code from the back of your card. The withdrawal procedure is somewhat more complicated, as you need to file an authorization form along with a number of data requested by a specific casino, but once you deliver all the necessary paperwork, everything becomes easy. Also, it’s worth mentioning that AmEx is often given as a deposit-only option in casinos, so it’s worth checking before you start playing; otherwise, if you win, you may find yourself looking for an alternative withdrawal option.
However, the real question in this case is: “Where does American Express work?” In the past few years, there has been a serious drop in the number of venues where AmEx cards can be used, thanks to the US authorities’ anti-online gambling actions. Due to them, many a casino and poker room has decided to close its doors to Americans, as well as their payment processors, including American Express. Yet, some places manage to survive and operate despite the restrictive USA banking regulations for gambling transactions, providing excellent quality of service to its players and enabling them to enjoy all the fun, wherever they come from.
Pros and Cons
The benefits of being a customer of such a great financial services company as American Express are quite obvious. It provides a range of credit cards that will meet everyone’s preferences, no matter how extensive or different they may be. Another thing that makes AmEx so special is the fact that it does not earn most of its revenues from lending fees and revolving credit, but from the spending itself, and the turnover it brings to merchants, which is more beneficial for the spenders that use it as a payment method.
Still, American Express does have certain downsides. See, even though it is widespread as a payment method, its primary connection to the US market caused it to be banned from a significant number of casinos and poker rooms, mostly due to the States’ restrictive gambling policies and severe actions against online gambling. Hopefully, the country’s position on the pastime will change soon, and when it does, we will see the AmEx blue logo in many, many more casinos and enjoy all the benefits of the company's offering.
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