Mastercard makes online slots a difficult business
February 11th, 2010
The mega corporation Mastercard Worldwide has startled the online gambling industry in the USA. Last week Mastercard, without warning, starting cracking down and blocking on all transactions going to online casinos, poker sites and sport books. Suddenly many US players realized that their credit card deposits via Mastercard weren’t being accepted. So far, every major company that provides gambling services to the US public have been affected by this swift move made by one of the leading credit card providers in the world.
Such events certainly produce a shock but all the panic has subsided. US players still have a variety of options to deposit with and there hasn’t been done permanent damage. Players are now depositing via Visa cards, ewalletxpress, quicktender, Western Union, Money Gram and other alternative methods.
Experts say that this sudden decision by Mastercard comes as a direct result of the UIGEA. This is a law that was passed during the Bush administration in 2006. Succinctly stated, this law forbids financial institutions such as banks or credit card companies, to furnish transfers of funds to and from gaming sites. The UIGEA had a deadline for all financial institutions to come into agreement with the law which was originally set for December 2009. The Treasury of the United States delayed the deadline for another six months on the final days of November 2009.
The question remains if other corporations like Visa, will make similar moves or if they will wait to see how the gambling issue is debated in congress in the months to come. For now online slot players still have easy ways to fund their casino, poker and sport books accounts. Likewise, there are even more methods available for players to receive their winnings from any of these gaming sites.
