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Visa Preparing For Legal US Online Gambling

Monday May 20,2013 :  VISA PREPARING FOR LEGAL ONLINE GAMBLING TRANSACTIONS IN THE U.S.
 
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.



Gambling News :

Live Dealer Now At Slotocash - Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.

Advantages of online slots over slot machines - The rise of online casinos means that players no longer have to leave their own house to play casino games.

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.

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