MasterCard would give Green Light to Online Gambling Legislation
You might think that your credit card is your enemy when it comes to online gambling transactions but all is not what it seems.
What you might not know is that MasterCard and Visa credit cards actually support online gambling regulation in The US.
This might confuse you since they seem to be the enemy as they refuse to accept online gambling transactions.
Since the UIGEA bill went in full effect in 2010 both companies had to change their policies in order to abide the ever changing law.
The good news is that they are far from happy about the situation as they lobbied Congress for internet gambling regulations to be put in place.
MasterCard spent around $840,000 whilst lobbying the government for a few issues but one of the main topics was online gambling.
In fact both MasterCard and Visa are losing millions of dollars and they would be very glad to get the green light for online gambling transactions but their efforts to make the Congress understand their reasons failed.
For now both credit card companies are eagerly awaiting to see what happens with “intrastate” gambling for the states of California, New Jersey and Florida because they are considering processing transactions for online casinos but they have to prove that it doesn`t interfere with the UIGEA bill.