Online slots and casino games players in the US who enjoy getting their entertainment in the new regulated online casinos in the state of New Jersey may at last be able to deposit with their Visa and MasterCards. New Merchant Category Codes have come into effect that mean when making a deposit into a New Jersey online casino a unique code of 7800, 7801 or 7802 is produced and sent to the users bank. This new code tells the processor that it’s a legal gaming transaction and clears the path for the deposit to be made.
These new codes replace the old 7995 code that was simply classed as an ‘online gaming transaction’ and therefore impossible to tell where the money was being sent to, and as a result many transactions to NJ online casinos were being blocked. The fact that online casino games players in the Garden State simply couldn’t use their credit cards to deposit has been seen as one of the major factors in holding the fledgling industry back, and although other depositing methods are available, many players simply prefer the convenience and safety of using a major credit card.
It’s hoped that the new codes will increase real money deposits to the casinos and poker rooms however it’s not a be all and end all solution. The codes are simply a guideline for the processors and it is ultimately down to the banks if they decide to process the transaction or not. Many banks fear the UIGEA bill that forbids them to process transactions to online gaming companies in the US, and will therefore may not wish to take the risk
These new credit card merchant codes have no impact for players who play their online slots and games at the many great US online casinos that are based outside of the US. These casinos process payments in a different way and most players have no trouble at all when making their deposits using Visa, MasterCard or American Express.