Credit card transactions have been a challenge for online gaming operators in markets where Internet poker and online casinos are legal, including Nevada. There have been banks that seem to have no issues with processing these transactions and others that have been risk-averse.
“Considering the changes that were required of banks, as well as the increased risk exposure due to UIEGEA (Unlawful Internet Gambling Enforcement Act) in 2006, and the fallout of the poker ‘Black Friday’ indictments in 2011, it’s understandable that banks have been cautious about accepting I-gaming transactions,” said Bill Rini, head of online poker for Caesars Interactive Entertainment.
“Black Friday” was April 15, 2011, the day the Justice Department issued indictments against the nation’s three largest online poker websites, Full Tilt Poker, PokerStars and Absolute Poker. The indictments halted a nascent Internet poker boom.
Rini said Caesars Interactive has been meeting with processors, issuers and banks about how online gaming is properly regulated and licensed in several states. Caesars Interactive operates a real money poker game in Nevada under the wsop.com brand, and in New Jersey under the caesarscasino.com, harrahscasino.com and wsop.com brands.
Rini said teaching credit card issuers about licensed operators’ Internet betting safeguards hasn’t been easy.
“But,” Rini said, “we’re optimistic that things will only improve over time.”
Reply With Quote