I will summarize the USG position and then the VISA position regarding online gaming deposits. The USG believes that the Wire Act of 1965 prohibits all online gaming, including sports betting. It has not brought any case that does not include sports, as the Wire Act does not mention anything else in addition to sports. Also, the Wire Act does not target bettors, only operators.

The UIGEA was passed in 2006 and it targets financial transfers to businesses that operate online gaming, however, it does not identify any sites and is really sketchily written. The UST has some regs to "enforce" it, however, they are really poorly done and only target businesses, not individuals. Opposition continues to build against the Wire Act and the UIGEA as they are ineffective prohibitions that restrict our liberty, but I digress. See the Poker Players Alliance site for more info.

VISA has taken the position that it will not process online gaming transactions. As VISA is a wide ranging org, there will be some entities that will still process them. Hit or miss, but nothing illegal for the individual (in contrast to vile porn, which is obviously illegal for individuals).

Both Full Tilt and PokerStars operate online poker rooms. They operate outside of the US. They hold the players' monies in trust accounts. They are safe and reputable. There are review sites that have ratings on the various other online gaming sites, but I do not know much about them as I just play poker, not games of chance like most other online gaming. They accept credit cards and process cash outs within a few weeks.

What these two sites have that is of interest to you is the ability to transfer funds internally amongst players, without fees. The site will pay for the credit card deposit fees. Therefore, you can charge your card and then transfer the money to another player for cash, if you trust that player to send you the cash. The player simply buys your deposit. But it is not a gold mine like the US Mint...

There are limits to the ability to transfer amongst players and the sites will monitor your accounts in order to determine if you are simply using them to effect player to player transfers. Plus, there is counterparty risk that the other player screws you. So I think that this method is only really effective for a small, one time event of under $1,000.

There is also the potential to receive a bonus from the site for an initial deposit. For example, FTP offers a 100% match, up to $600 for a new player. However, you need to play a minimum amount in order to earn the bonus. It may be possible to set up accounts that would allow for a new player to get a more experienced player to earn the bonus and then kick it back, however, that would violate the T&C of the site and possibly get both kicked off.

So, in summary, this is a relatively small opportunity and will take some time to cash out if you simply deposit and then request a withdrawal.