As mGamingWatch first reported in November, one major issue that seems to be standing in the way of states that are legalizing online gambling is that banks are either severely or completely restricting the transactions that are made through gambling sites.
Today in the states of Nevada, Delaware, and New Jersey, many banks will not allow online gambling transactions for customers through the use of their credit cards.
Credit card issuers J.P. Morgan Chase, Wells Fargo, American Express won’t allow gamblers to use their credit or debit cards to deposit money into online gaming accounts. That goes for both online poker and sports betting in Nevada.
“We don’t allow credit card transactions for this activity,” Steve O’Halloran, director of public relations and public affairs for Chase Card and Merchant Services, tells Casino City Times.
Sanette Chao, a rep for American Express, confirmed that her company flatly “prohibits the use of the card for gambling services.”
“Gambling services, historically, account for a high number of card member credit losses and customer service disputes,” she explained last week in the same report.
Understandably, if players are having a difficult time making transactions, then states will have a difficult time fully instituting and reaping the benefits of a completely legalized online gambling infrastructure.
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