METHOD FOR INTEGRATION OF CLOSED AND OPEN LOOP DEBIT SYSTEMS WITH AN INTERNET GAMING SYSTEM

摘要

A method for implementing transfer of payments and prize amounts for Internet gaming transactions includes issuing an internet gaming account to a consumer having an open loop sub-account affiliated with a financial institution, and respective wagering and winning sub accounts. The consumer loads the closed loop wagering account from a plurality of sources. Funds are transferred from the wagering account in defined incremental amounts to a lottery Internet service provider's game account for play of lottery games by the consumer via an Internet enabled device. Any transactional fees associated with loading the wagering account are garnered at the time of a respective load to the account and substantially no transactional fees are associated with the individual incremental transfer of funds from the wagering account to the lottery internet service provider's game account.