Online Casino Banking?

Hi,





I have a question about something thats been bothering me forever!





Do Online Casinos hold banking licenses?





If they accept deposits into accounts from various users surely that classifies them as a bank under banking regulation?





How does a deposit work with an online bank?





When I transfer funds does the money go into their bank account/merchant account or is it held "Virtually" until its used?





Just curious as to where my money goes when it leaves my account and before it used online....

Online Casino Banking?
Under normal circumstances, online casinos use payment processors to handle their financial transactions. The online casinos themselves do not hold banking licenses. Payment processors may have some type of license but I'm not sure. Processors that are commonly used by online casinos are eWalletXpress, ePassporte, PIC-Club, Neteller, Moneybookers, Firepay, etc.