Western Union Online Casinos

Western Union has been around since the telegraph age. Since Western Union dominated the wire communications of the 19th century, any person seeing a telegraph office in a western film or tv show has seen depictions of the Western Union before. These days, the company handles wire transfers and money orders and is considered one of the most reliable financial service providers in the online gambling industry. Founded in 1851, Western Union now trades on the New York Stock Exchange under the call letters "WU".

Western Union is still one of the most reliable electronic money transfer companies. People continue to send money via Western Union through "Next Day" and "Money In Minutes" services. This isn't the same as the e-wallet services, but this method of transferring cash is used by more online casinos, sportsbooks, and poker rooms than anything short of Visa and Mastercard.

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Western Union Casinos for US Players

Online casinos like Bovada and Win Palace Casino allow Western Union deposits. This is a good option for Americans who use Western Union, because these casinos online still accept US players. The transaction fee is $3.95 and the minimum cash sent is $5.00. People who want a quicker service can buy a Mastercard prepaid debit card, which costs $4.95 per month to maintain. If you have direct deposit on your bank account, that fee is waived, though.

When you use Western Union, you have an Internet payment option that has 270,000 different outlets and terminals worldwide. Their customer service people are top rate and their service is the most secure and trusted on Earth. Western Union has been doing this longer than anyone. Some of their methods might seem anachronistic to those who grew up with Neteller and Moneybookers, but those who prefer security to convenience should use Western Union.

Benefits of Using Western Union Casinos

When you use a Western Union casino online, you can send money and receive money very quickly. These days, Western Union has free mobile apps and even eGift cards that can be sent anywhere, including online casinos. Big money transfers are also allowed, including immediate $10,000 with competitive foreign exchange rates. Their FX solutions are among the best in the business.

You'll sometimes have slower times than the credit cards and startup web wallets, but that's because Western Union puts the highest premium on consumer security. If it takes a little more time to assure your personal security, Western Union prefers to be a little bit paranoid. This has caused complaints from people when a WU employee doesn't use the best common sense in interpreting policies, but the identity thieves should have a hard time using your Western Union account.

Bidpay and Speedpay

Western Union's e-wallet service used to be called "Bidpay" and it was a competitor with Paypal, but this service has since been discontinued. Instead, you can make online deposits and receive withdrawal payments through "Speedpay". One great advantage to this option is you don't get signed up for special programs, emails, or alerts. These can be helpful at times, but most of us consider a bunch of email ads to be intrusions of our privacy, if not pure spam.

Western Union Assets and Revenues

Western Union is a billion-dollar company these days. WU's reported earnings for 2010 were $5.193 billion, while its total assets were nearly $8 billion in the same year. Western Union headquarters has been located in several locations throughout the US over the years after being founded in Rochester, New York. Manhattan was its hq for many years, though the company is based out of Englewood, Colorado these days.

Founders: Hiram Sibley and Ezra Cornell

The company was founded by two men who worked with Samuel Morse in the 1840s: Hiram Sibley and Ezra Cornell. Hiram Sibley was the lead figure in the group which created the New York and Mississippi Valley Printing Telegraph Company out of Rochester. In response, Ezra Cornell formed the rival New York & Western Union Telegraph Company. Ezra Cornell placed the telegraph wires from Baltimore to New York City for Samuel Morse and had received 1/4th percentage ownership in the telegraph patent, due to services rendered.

Like the history of the railroad companies, the two rivals began building telegraph communications infrastructure across the continent in a race to beat the other. By 1855, both sides realized they could only continue if they merged. Ezra Cornell would insist the merged company be named Western Union. He would receive $2 million in stock in the company and would become most famous for the Ivy League university which bears his name: Cornell University in New York City. By the start of the Civil War, Western Union lines stretch from the east coast to the Mississippi River, while running from the Great Lakes down into the Ohio River Valley. After the war, Western Union tried to expand operations into Europe, but this was abandoned after two fruitless years.

Still, the company grew by over 10,000% from 1858 to 1876. By the time of the Old West and the final great move west to the frontier, it was Western Union which allowed people to communicate from east to west across North America. Despite having revenues of $41 million by the mid 1870s, the company was plagued with too many stock issues. In 1881, famed "robber baron" Jay Gould took control of Western Union.

Western Union's Innovations

Over the generations, Western Union has been a major innovator in world communications. It was Western Union which first introduced the world to the stock ticket (1866), money transfers (1871), charge cards for consumers (1914), teletypewriters (1923), singing telegrams (1933), and intercity faxes (1935). Western Union continued to grow throughout early to mid 20th century, even being the first company to own its own fleet of geosynchronous satellites in 1974. The company faced bankruptcy and leveraged buyouts in the 1980s and 1990s, as the business found itself struggling to keep up with the times. The old telegraph service was eventually sold, while the company was bought and changed its name to New Valley LLC (1991), then spun off (2006) into its own wire transfer service which continues operation up to the present. This new Western Union is what offers electronic cash transfers as a subsidiary of the New Valley Llc.