Online casinos depend on banks in the United States of America, the online casino industry is now realizing that rejections are threatening the newly created online casino community in two states: the state of Delaware and the state of Nevada.
Players’ VISA and MASTERCARD credit cards were declined by some banks in Delaware when players tried to place their bets online. In the state of Nevada, players tried to place their first bets and had difficulty opening their accounts. The companies behind the credit cards like American Express, eBay, Wells Fargo, PayPal, among others, refused to process transactions related to registration and betting at casinos.
Will Other States Also Oppose Banking?
The state of New Jersey on November 26 became the third state to open its doors to online gambling. The United States gambling arena has a profit potential of about 7.4 billion dollars attainable in just four years, if the industry gets credit card companies to join in the common effort to make online gambling successful. in the United States arena. However, banks are concerned about a possible drop in profit, worrying about the possibility of possible violations of rules such as underage customers gambling, which is illegal.
The American Bankers Association gave its opinion on the matter, which was negative regarding the online gambling market in the USA. The argument initially presented was the possibility for underage players to bet on these online casinos, thus breaking the law.
Banco de América is evaluating the possibility of gambling transactions being allowed or not. For the time being American Express, Wells Fargo and Discover are locking up gaming transactions. Both Wells Fargo and Discover cited having some problems with Federal Government legislation. PayPal mentions that online gambling is provided for in its service policy.
After the passage of the Internet Gambling Law in the United States, banks banned gambling transactions and excluded them from their card systems. Nonetheless, Ultimate Poker and the WSOP continue to attract players in the state of Nevada, with around 23,500 customers.