iGaming Credit Card Deposits Improve
The regulated igaming industry in the U.S. has seen improvement in the acceptance of credit card deposits by banks processing the transactions of players.
The rate of acceptance had been significantly lacking before a new credit card code was established that allows banks and financial institutions to determine that the [geolink href=”https://www.usafriendlypokersites.com/deposit/”]poker deposits[/geolink] are coming from states where online poker and gambling is legal. The new code of [geolink href=”https://www.usafriendlypokersites.com/nj-hopes-new-credit-card-code-boosts-revenue/”]’7801′ went into effect last month[/geolink] and replaced the ‘7995’ code that is still being used in states other than Nevada, New Jersey and Delaware.
Representatives from igaming sites revealed that the credit card deposit rates are improving during the East Coast Gaming Congress held in Atlantic City this week. While pleased with the results of the new code, the casino bosses are still concerned with other areas that continue to plague the growth of online poker and gambling in the U.S.
Sheldon Adelson a Formidable Foe
Chief among those concerns are the efforts of Shedon Adelson to eradicate igaming in America through his Coalition to Stop Internet Gambling. New Jersey Senator Ray Lesniak admitted that legislators became wide-eyed when the billionaire casino mogul said that he would spend as much money as necessary to accomplish his goal.
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Though his attempt to ban online gaming by pushing through a federal bill that would overturn the DoJ decision that allowed individual states to enact igaming legislation has yet to be voted on by lawmakers, it has been debated by a congressional committee. That proposal may likely be re-visited in the future, much to the dismay of ipoker and igaming proponents.
More States Needed
Also a problem being faced by U.S. igaming is the state-by-state format of legalization that requires each state legislature to enact its own set of laws to cover online poker and casino games. As is plainly evident, approving such a bill is a time-consuming, drawn out process that leaves even the most patient players and activists frustrated.
Currently, only [geolink href=”https://www.usafriendlypokersites.com/delaware-nevada-interstate-online-poker-launched/”]Nevada and Delaware have combined player pools[/geolink] for online poker. While liquidity has improved, both states are rather small and would benefit greatly if some larger states eventually joined in.
Potential for Growth Remains
The conference attendees did admit, however, that the potential for growth of the regulated online gambling industry is huge. There are players throughout the country who played online poker regularly before Black Friday in 2011.
A majority of those players would welcome regulation in their home states and become avid players once again. But they are waiting on their state legislators to take action. Unfortunately, patience may be required a rather long time from the looks of the speed of progress thus far.