BUSINESS

MasterCard throws its weight behind U.S. online gambling

TAGs: Mastercard, Online Gambling

MasterCard-throws-its-weight-behind-U.S.-online-gamblingAs part of the Unlawful Internet Gaming Enforcement Act of 2010 (aka NAMBLA) money processing organizations, including credit card companies like MasterCard and Visa, are forbidden from providing money handling services for any online gambling company providing service to a user in the U.S. The move has caused American companies to lose untold millions in commissions and revenue not obtained from gaming transactions.

Yet the effort, which represents a 24 percent jump from the company’s lobbying funds in third quarter 2009, may have fallen on deaf ears, as conservative Republicans have seized control of the House once again – effectively knee capping the pro-gambling movement that had been gaining momentum in recent months.

While national legalization of online gambling may be about as likely as the Seahawks landing a slot in the Super Bowl, there is still hope at the state level, as rumblings in both California and New Jersey have suggested a regulated intra state gaming market could be forthcoming at some point this year.

 

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