Secure Trading Inc is poised to pick up where Mastercard and more recently, Visa left off. In anticipation towards the passage of regulated gambling in the U.S., UK based, UC Group Ltd, a leading provider of online payment services, announced the launch of Secure Trading Inc. The company will provide a complete suite of services that ensure safe financial transactions and required consumer protections. Read more.
But hold the phone… Online gambling hasn’t been legalized nor has it been nationally regulated in the U.S. the last time I checked.
With no clear date set for a ruling on the matter, what is this company going to be doing in the meantime? You want to talk about a no show job, I’m picturing an half empty office with a few guys in suits and briefcases filled with old newspapers and half eaten apple cores…Seriously though, when you take a closer look at how this company came to be, the picture becomes a little clearer. Firstly, it’s no surprise that the UK is taking position in the U.S. gaming market, we have seen signs of European positioning ever since the UIGEA bill was delayed. But perhaps the real surprise is that Secure Trading Inc is headed by three ex Mastercard Executives. Chris Thom, former Mastercard executive and now Chairman of Secure Trading stated that… “Secure Trading Inc is primed to enable its customers to go live the moment internet gambling is regulated”.
Certainly these are strange sentiments considering the recent actions of Mastercard in clamping down on online gambling transactions. If anything wouldn’t this indicate that regulation is not on the horizon? A closer look at the situation reveals another twist to the story. Secure Trading Inc. happens to be a Delaware Corporation, and now it all makes sense. It’s no surprise that Delaware is associated with this move, Delaware has been trying to obtain licensing and regulation for any gambling venture that would benefit the state. A move into online gaming processing is pure genius. It may very well be that a national ruling on the regulation of online gambling is far on the horizon, but state to state laws can change dramatically over night. If individual states start obtaining regulation Secure Trading has certainly positioned itself to be at the forefront of the business.
That said, it certainly appears that many entities are gearing up and placing their bets on regulation as opposed to packing up shop and betting against it. That’s music to the online gambling industry’s ears.