Over the past few months, gamblers in the United States have seen great progress when it comes to online gaming options. First, the state of Nevada launches online poker, then Delaware joined the party shortly thereafter with options of their own for its residents. New Jersey is set to launch in the next few days and more states are expected to join the party next year.
However, the new online gambling market has not launched without a hitch. Problems with online gambling sites have come in to play, such as geolocation issues, but overall the launches have been relatively successful. Yet now, a new problem may be taking shape that could greatly affect this new industry.
According to several reports, many financial institutions are taking a strong stance and not allowing any financial transactions that involve online gambling in the US. These companies are apparently scared that they might face legal action for some reason, after the federal government has been so opposed to real money online gambling.
The following financial institutions have stated they will not be supplying transactions in the state of Nevada and Delaware, and one could also assume New Jersey:
Bank of America
Wells Fargo
PayPal
American Express
These institutions are concerned that certain liabilities may take place in the future and they want to avoid any type of action against them. Even though there are controls in place, banks are still uncertain about internet gambling and the liabilities that may fall towards these institutions.
When Nevada sites first launched there were issues with certain credit card users who tried to open accounts and Delaware users have reported that Visa and MasterCard transactions were rejected by certain banks. Both states are currently working with these institutions to try and remedy the issue. With New Jersey about to launch, it will be interesting to see if players have this same trouble and if more financial institutions take this stance as well.
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