No Gambling With New Apple Credit Card

avatar

Published by Daniel Hardman on August 07, 2019 in Industry News

featured image

In the modern day time, it seems that everything that once was impossible is becoming possible.  

In the tech world, many new releases are coming to light including the highly anticipated credit card by Apple and Goldman Sachs.
 

Dunder

Up to €100 + 120 Free Spins

Play

The release of the credit card has many excited but according to sources gamblers and bitcoin users might be in for an unpleasant surprise.
 

Credit Card no go 

The Apple credit card is just days away from launch and has already caused quite the excitement. For those who planned to use the card to gamble or buy bitcoin or other cryptocurrencies, there’s some bad news.  

According to a recent release by Goldman the credit card agreement has a list of restrictions on transactions best described as “cash advance and cash equivalents”. These restrictions include the purchase of cryptocurrency, casino gambling and betting to name just a few.  

The partnership between Goldman and the American tech giant was forged earlier this year. Since then it has become known that interest rates for the Apple Card range from 13.24% to 24.24% depending on users’ creditworthiness.  

The cards will offer daily cashback incentives which include a 3% cashback on purchases from Apple stores or App Store purchases. Purchases from other stores will only secure a 1% cashback per purchase.  
 

The Crypto and Gambling Restrictions 

Anyone who applies for the Apple Card whether it is a digital or physical version thereof will not be able to gamble or purchase cryptocurrency.  

According to the agreement you will be unable to make any cash-like transactions which include purchases of cash equivalents such as “travellers checks, foreign currency, or cryptocurrency; money orders; peer to peer transfers, wire transfers or similar cash-like transactions; lottery tickets, casino gaming chips (whether physical or digital), or race track wagers or similar betting transactions”.  

The announcement that customers will not be able to make gambling related purchases with the card is not the first bad news for those who use credit cards for gambling. Just last month the Australian bank, Macquarie, announced they will be banning gambling and lottery related transactions on credit cards. One of the top reasons for their ban was growing regulatory pressure within the nation’s gambling industry.  

Another reason for the growing number of credit card bans on gambling transactions could be the growing numbers of problem gamblers. Credit Cards are currently being cited as one of the main problems as it helps players gamble with money they don’t have, increasing their debt and encouraging their problems.  

While it might be a sad day for gamblers today, it could be solving a future problem for Apple in the long run as the gambling authorities are currently considering banning all credit card gambling.  
 

The Apple Card 

The launch of the Apple Card is part of Apple’s strategy to diversify their sources of revenue after relying too heavily on iPhone sales for the past few years. Goldman, on the other hand, has partnered with the tech giant as part of their long-time effort to establish a consumer-focused business.  

The new Apple Credit Card will start rolling out within the next few days or weeks according to the CEO, Tim Cook.

player reviews
Rate casino and write a review
Write Review
Write a review for

We respect your privacy. We are committed to responsible handling and protection of your personal information. By subscribing, you are agreeing to our Terms & Conditions and our Privacy Policy and you confirm that you are 18+. If you no longer want to receive our occasional offers and news, you may opt-out at any time. All our emails include an unsubscribe link.

Submit review

Your reviews help other players find the best casino sites and games to play. Please be honest with your feedback and rating. All submitted reviews will be checked by CasinoTopsOnline quality control team. Submissions that do not follow our review guidelines will not be posted.

Latest News View all
What is Blackjack Double Down?

Most casino players know what blackjack is. We know that it is a card game played with one or more decks that comprise a total of 52 cards each. The picture cards, namely the Jack, Queen, and King, are all valued at 10. The Ace cards can either be valued at one or eleven. All the other cards in the deck are face value cards. In other words, a 2 of hearts has a value of 2. A seven of clubs has a value of 7.

Read more
Live casinos in the UK: what's not to love?

 If you’re a fan of table games, you know that part of the fun is being able to play at the table and feel the very real stakes. Luckily, online casinos have a solution – live casino. For UK players, live casino options are varied and plentiful, and to the highest quality.

Read more
New Jersey Casino Referendum

For decades Atlantic City has had a monopoly on casino gambling in New Jersey thanks to a law passed in 1976. Since then the Constitution of New Jersey has only permitted casino gambling in Atlantic City. The first 30 years after the law passed saw a continuous increase in job creation in the seaside casino hub. Revenues also climbed steadily, peaking in the mid 2000’s at around $5.2 billion.

Read more
Most Popular
What is Blackjack Double Down?

Most casino players know what blackjack is. We know that it is a card game played with one or more decks that comprise a total of 52 cards each. The picture cards, namely the Jack, Queen, and King, are all valued at 10. The Ace cards can either be valued at one or eleven. All the other cards in the deck are face value cards. In other words, a 2 of hearts has a value of 2. A seven of clubs has a value of 7.

Read more
Live casinos in the UK: what's not to love?

 If you’re a fan of table games, you know that part of the fun is being able to play at the table and feel the very real stakes. Luckily, online casinos have a solution – live casino. For UK players, live casino options are varied and plentiful, and to the highest quality.

Read more
New Jersey Casino Referendum

For decades Atlantic City has had a monopoly on casino gambling in New Jersey thanks to a law passed in 1976. Since then the Constitution of New Jersey has only permitted casino gambling in Atlantic City. The first 30 years after the law passed saw a continuous increase in job creation in the seaside casino hub. Revenues also climbed steadily, peaking in the mid 2000’s at around $5.2 billion.

Read more
Best time to go to the casino to win

Many self-confessed casino gurus have written books about how to win at the casino. One thing most of them cannot agree on is the best time to go. Maybe there’s a reason they can’t seem to find an exact answer. If we have an in-depth look at the different elements of playing at the casino, perhaps we can find a solution ourselves. First, let’s gain an understanding of some important aspects of the casino.

Read more
Esports & Daily Fantasy Sports in the US

Esports has seen a huge uptick in popularity – both in general as a competitive sport as well as in the betting scene. However where does it stand in the US?  Is the increasing popularity and international presence represented in betting and fantasy sports, in the US? We’ve aimed to look into this and find out.

Read more
Showboat Casino in New Jersey

Showboat Casino, the third of four famous Atlantic City casinos, could be eyeing a sensational return to the casino world after being shut down in 2014.

Read more
Gambling Winning Tax Rates Per State

The introduction of online casinos and gaming has seen a shift in the actions of different states and jurisdictions. They're all trying to regulate and approve, and in turn profit from, this new surge in online betting that has seen millions of people register on a variety of online casinos and try their luck.

Read more
888 Casino Expands their Games and Live Casino

Always on the ball when releasing new content, 888 Casino have sought to add a huge amount of new games to their game library. With as many as 50 new slots being added to the site, as well as bolstering access to live casino, the options and variety available for play has increased exponentially. What is there to look forward to? We’ve summarised what’s on offer below so you can look forward to the action as much as we do.

Read more