Visa and MasterCard Snub Gambling Sites
It’s no surprise that, even though Unlawful Internet Gambling Enforcement Act of 2006 (a.k.a. UIGEA) may be delayed in its efforts, Visa and MasterCard are starting their initiative to censor online gambling. Both financial companies have started to make efforts to crack down on online gambling in the U.S.
Even though online gambling is not illegal in the United States in the sense that there is no penalty for players, there are penalties to the financial firms and banks that allow online gambling transactions to be processed. U.S. lawmakers have recently delayed the UIGEA in its power to implement enforcing its laws, but it appears in an effort to be safe, major credit card companies like Visa and MasterCard are taking steps to comply anyway. Visa and MasterCard are beginning to take steps to this effect by rejecting partners that attempt to hide online gambling activity by coding gaming transactions as alternate types of online commerce. The issue has reached a high profile in the media lately and since then, the two companies have been doing all they can to crack down on the inconsistencies.
Recoding gaming transactions is clearly not good business practice, most legitimate businesses agree, even if the act itself is not illegal, it promotes an atmosphere of distrust and PokerStars, for example, is one company that has gone out of its way to assure the eGaming Review that it was not a participant in such practices. People like Jon Parker from trade publication eGaming Review says that these initiatives are indicators that “banks and payment companies are preparing for implementation of America’s Unlawful Internet Gambling Enforcement Act (UIGEA) which bans the facilitation of online gambling by payment companies.”
The move of large credit card companies like Visa and MasterCard in banning online gambling transactions is already affecting the gambling world. According to Bluff Europe, MasterCard’s actions have forced major poker rooms online to stop using MasterCard as a depositing option for U.S. players, at least for now.
Whether this move is reflective of the political climate or represents a short-term or a long-term change is still yet to be determined. For now the gambling world will wait it out and as for the time to come, U.S. players are preparing themselves for the worst as their options for playing in online casinos appears to be dwindling.
As for now, start studying up on alternative casino payment methods.