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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.



Gambling News :

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

New MPN Poker Rooms Tower Torneos - Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<

NY Rangers vs. Devils on 12/21 - When the Devils and Rangers hit the ice on Thursday (7 PM ET on MSG), so too will two of the league’s top netminders. After a slow start to the season, Henrik Lundqvist has returned to his form of old. Through 29 games, he’s posted a 2.59 goals against average, and a .920 save percentage.

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