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Low Credit Card Acceptance rate For New Jersey Online Gamblers

Wednesday April 30,2014 :  U.S. PROCESSING COMPANY HIGHLIGHTS CREDIT CARD PROBLEMS
 
In New Jersey, online punters' credit cards are only accepted 44 to 46 percent of the time, hampering growth.
 
At least one of the reasons for the disappointingly slow growth of legal online gambling in Atlantic City was illustrated by processor CAMS LLC this week, when it told the Associated Press news agency that only 44 to 46 percent of credit card transactions attempted by New Jersey punters were accepted by the big card companies, in reference, the largest New jersey and USA online casino and online poker room, which is Bovada has a 100% acceptance rate.  They are also offering a big sign up bonus for your first credit card deposit, and promise same day withdrawal processing. Check them out here.
 
CAMS assessment is probably typical of the industry - it processes for the online market leader, the Borgata as well as from the Trump Taj Mahal Casino Resort and Trump Plaza Hotel and Casino, routing deposits to financial institutions.
 
Matt Katz, the company's CEO, opined that low acceptance of credit cards "...is the single biggest thing that's holding it back" in New Jersey.
 
So far this year, Internet gambling has brought in $31.6 million. The fledgling industry is growing, but not as fast as many had hoped. .
 
Confirming the CAMS view, Deputy Attorney General Mary Jo Flaherty from the New Jersey Division of Gaming Enforcement, said Visa was the most problematic, with just 44 percent approvals, and that American Express and Discovery do not pass any online gambling charges.
 
By comparison, Mastercard users achieve 73 percent approvals.
 
"New Jersey patrons continue to experience difficulties in use of their personal credit and debit card accounts in funding individual Internet gaming accounts," she said, adding that the DGE "...continues to work directly with financial institutions, banks and credit card companies and relevant regulators and authorities with respect to the legality of online gaming where authorized as in New Jersey, as well as regarding the appropriateness of payment processing for legalized online gaming."
 
American Express spokesman William Tsang told AP that his company does not do business with "high-risk industries" and prohibits the use of the card for any gambling services, whilst Discovery declined to comment.
 
DGE figures show that in December, 42 percent of players with the Borgata and the two Trump casinos were able to fund accounts using a credit card. That figure rose to 44 percent in January and 46 percent in February before declining to 44 percent in March.
 
CAMS claims that those figures are very close to its acceptance rates in Nevada and Illinois, where it serves the state lottery.

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Gambling News :

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

Optima Information Services iShop - Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

CAGAYAN CHIEF MOVES TO REASSURE LICENSEES - Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.

New Massachusetts Online Gambling Bill - It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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