MasterCard recently announced its decision not to process monetary transactions related to online gambling. A contempt of court order issued by a federal appeals court against two payment processing companies for refusing to comply with a grand jury subpoena forms the basis for the company’s decision. A number of online gaming sites such as DoylesRoom, Absolute Poker, Cake Poker Network, Bodog, Ultimate Bet, and Sportsbook will be severely affected by it.
MasterCard will comply with the Unlawful Internet Gambling Enforcement Act (UIGEA). All deposits associated with online poker rooms and casinos made by the citizens of the US will be blocked. However, this isn’t MasterCard’s first attempt to block monetary transactions. Its previous attempt was a failure and lasted only 2 months because gaming sites deleted the code, which identified the transactions.
US gambling enthusiasts have been widely using Visa to fund their online gaming accounts. However, Visa could be making similar plans to block monetary transactions associated with online gaming. In spite of these developments, US citizens can still punt or play bingo or poker at their favorite gaming sites. Effective alternatives to credit cards are still available in the form of EWalletXpress, Usemywallet, ECheck and others.
EChecks are gaining popularity because they are quick and free and users can directly deposit them at the online gaming site. They can also be used for withdrawals. Alternatively, players can avail of bank wires and Fedex checks.
MasterCard is expected to run into a loss of millions of dollars because of its recent decision.