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Visa Preparing For Legal US Online Gambling

After years of trying to enforce the UIGEA, credit card company is having to reassess its blanket ban on internet gambling
In what seems to be an acknowledgement of the writing on the wall that legal online gambling is gathering momentum in the United States, the credit card giant Visa appears to be making moves to prepare for the revolution.
With Nevada, New Jersey and Delaware already legalised, around ten other states thinking about various forms of online lottery and other gambling, and growing speculation that a new federal legalisation initiative is shaping up , it's hardly surprising that Visa wants to be part of the process....but how to differentiate between 'illegal' and 'legal' gambling in a country where political decisions and protectionist strategies have created such a confusing morass of state and federal laws?
Visa gave some indication of how it is approaching the differentiation problem in a recent circular to interested parties, reminding them that there are certain online gambling transactions that can be legally processed, and suggesting a way that may help smooth the process.
Visa's merchant 7995 code for gambling transactions has a wide scope that covers just about everything from horseracing wagers to lottery tickets, and the company suggests that merchants can make life easier for themselves and Visa by registering with the merchant verification value program.
That involves a rather extensive and bureaucratic validation process certifying that the betting transactions the merchant wants to process are legitimate and legal in terms of the UIGEA, after which the merchant is given a specific code to speed future transactions and avoid almost automatic blocking.
Of course there is a fee attached to this, but it's not disproportionate to the time and energy saved at $5,000.
What is not clear is how the merchant verification value program keeps abreast of the dynamic changes taking place in the US online gambling market, and whether repeated validation will be necessary every time a new legislative move changes the legalisation goal posts at state or federal level.

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Gambling News :

Yggdrasil Gaming Expanding - The Swedish online gambling games developer Yggdrasil Gaming is to establish a new parent company and expand its Stockholm office as it bolsters its presence in Sweden with a raft of new hires.

FanDuel and DraftKings Settle With NY Attorney General - Speculation earlier this week that daily fantasy sports market leaders FanDuel and DraftKings were about to agree a settlement on consumer fraud suits prepared by the New York AG was confirmed Tuesday when a $12 million settlement was announced.

Stan james Now Live With EPOS - The company switched to the Optima server less system across its entire estate in July after previously using Optima EPOS technology. The switch was completed early this (October) month and has already delivered noteworthy savings for the company.

Singapore Online Gambling Ban Begins - Singapore media reports indicated Tuesday that restricted online gambling services offered by the Singapore Pools have started online operations, whilst Singapore Turf Club will commence online betting activity on November 15.

Chinese police action against Crown Resorts Widens - In addition to the 18 Crown employees still held after their arrest last week, it now appears that the police questioned 87 Crown punters and junket organizers, detaining 10 of the latter.

Pennsylvania Online Gambling Updates - Pro-online gambling companies, including the Golden Nugget in New Jersey and Pokerstars, were quick to refute Schippers views based on their operational experience.

WSOPE In Czech Republic - World Series of Poker Europe 2017 has moved to King’s Casino Rozvadov (KCR) in the Czech Republic following a multi-year deal that will see KCR host numerous WSOP-branded events over the next several years.

Medialivecasino in Deal With Microgame - #Medialivecasino live dealer games have already gone live with Microgame joining content from other well-known providers NetEnt and Evolution Gaming.

BtoBet Partners with AfroBet - Following the launch in Kenya, Afrobet said it has high hopes for further expansion into East Africa, Tanzania, Uganda and Congo.

Pissed off Tabcorp shareholders - A significant number of Tabcorp shareholders, led by The Australian Shareholders Association, reportedly objected to proposed hikes in executive pay packages and were unhappy with the company plans for a merger with rival gambling group Tatts.

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