Mastercard lobbies for online gambling regulation
As we reported, when the UIGEA Law was implemented in 2010, there were many questions that arose as to the law’s efficacy. Its ambiguous language caused many problems for the credit card companies and prompted MasterCard to lobby for online gambling legislation. In fact, Visa has been lobbying for change as well. MasterCard lobbyists contributed over $1.4 million in an effort to push for a more effective regulation relating to their products, fees, and online gambling. As an aside, the Credit Card Accountability, Responsibility, and Disclosure Act was passed in 2010 that would protect consumers from a myriad of billing practices that placed a stranglehold on credit card customers, which makes us contemplate…..Is There a Missing Link?
What exactly is MasterCard lobbying for? Are they for the legalization of online gambling or against it? While it is certainly true that the UIGEA Law has caused a wave of misunderstanding, one has to wonder if MasterCard is pouring millions of dollars into this lobbying effort to make it easier for online players to fund their casino accounts or to change the law to make it more difficult for them to do so. Currently, US players cannot use credit cards in many states and have to resort to alternative funding. Is there a missing link to this entire lobbying affair? We think so.Alternative Banking Methods for Online Players from the US
Recently, as reported here, eWalletXpress left the US market. This was an inopportune time for them to do so and left US players wondering how they would fund their casino accounts. Fortunately, US players still have a few alternative options. One is the prepaid gift card payment option offered by all Wager Gaming Technology casinos, and eCheck, which has returned as a viable banking method for US players. The Prepaid Gift Card option is solid, and affords players who join Vegas Technology casinos additional bonuses attached to deposits. eCheck has also made a comeback at our Vegas Technology casinos, giving US players yet another option to fund their accounts without having to rely on credit cards.
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