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Gambling in the USA

Draftkings adds PayPal for payment

Niji Narayan

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Draftkings adds PayPal for payment
Reading Time: 2 minutes

 

DraftKings Sportsbook, the first company that offered sports betting in New Jersey, has finally added PayPal into the list of payment options.

Previously the company offered deposit and withdrawals options only through Visa, MasterCard and bank transfer, apart from the daily fantasy sports account of the company.

At the initial weeks that was not a problem because the customers did not have choice. But when other companies entered the fray with their sportsbooks, and with PayPal as a transaction option, DraftKings started feeling the heat.

If you are familiar with the world of online casinos in New Jersey, a lack of options for depositing can be a problem for a new site or app. Many banks will decline any transactions dealing with online gambling, even though it’s legal in New Jersey.

DraftKings was dealing with a lot of frustrated customers who wanted to bet, but could not get money online directly.

FanDuel Sportsbook – one of DraftKings’ competitors – outlines the pretty directly with an FAQ on its site:

While most major banks allow online wagering, the following will decline transactions with online wagering companies:

  • Bank of America
  • Capital One
  • Wells Fargo
  • TD Bank
  • Union Bank
  • Huntington Bank
  • Most prepaid cards

That includes some very big banks that also issue credit cards.

DraftKings beat everyone, by weeks, to offer online sports betting. But that first-mover advantage was not going to carry DraftKings to a lead in the NJ sports betting industry forever.

If it was going to compete, adding a payment option like PayPal was a near necessity. Three other online sports betting sites – FanDuel, Caesars online casino and SugarHouse Sportsbook – all had PayPal live already.

Now the playing field will be a bit more level. We get the first online sports betting revenue and handle numbers this week in New Jersey. But we will see how the competition is shaking out better once the numbers are in from September, when DraftKings was finally operating against challengers.

 

Source: PlayNJ

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.

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Gambling in the USA

GeoComply Receives Full Approval as a Sports Wagering Supplier in West Virginia

George Miller

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GeoComply Receives Full Approval as a Sports Wagering Supplier in West Virginia
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GeoComply  announced that it has received full approval as a sports wagering supplier in West Virginia for its geolocation compliance solution. GeoComply was granted interim approval in 2018 prior to receiving full approval from the West Virginia Lottery, which regulates all forms of gaming and gambling in the state.

“Geolocation compliance technology is one of the cornerstones of online sports wagering and we’re really happy to have received full approval from the West Virginia Lottery,” says David Briggs, CEO of GeoComply Solutions. “With almost 60% of residents living close to the West Virginia border, it’s critically important to utilize accurate and reliable geolocation technology to ensure the state fully monetizes their potential sports wagering market. We’re excited to be joining our partners including William Hill, FanDuel, DraftKings and IGT who also received approval in order to move online sports wagering forward in West Virginia.”

About GeoComply Solutions:

GeoComply is a global leader in geolocation technology. Since launching in 2011, GeoComply has quickly become the iGaming industry’s trusted solution for reliable, secure, and accurate geolocation services. GeoComply currently supports regulated online casino, poker, sports betting, lottery, ADW, and DFS operators in 42 US states to ensure compliance with state and federal regulations. For more information, please visit GeoComply.com

About The West Virginia Lottery:

The West Virginia Lottery regulates limited video lottery, sports wagering, video lottery and table games at the state’s four racetrack casinos and the Greenbrier Resort as well as selling more than 40 different instant games a year, offers the popular in-state online drawing games of Keno, Daily 3, Daily 4, and Cash 25, offers the Multi-State Lottery games of Powerball®, Mega Millions® and Hot Lotto.

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Gambling in the USA

New Jersey Gambling Regulators Impose a Fine of $10K on PokerStars

Niji Narayan

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New Jersey Gambling Regulators Imposes a Fine of $10K on PokerStars
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New Jersey gambling regulators have slapped a fine of $10,000 on PokerStars for accepting bets on New Jersey college basketball teams, which violated the state’s sports betting law.

According to the documents filed by the state, PokerStars accepted 216 wagers on a game involving Rutgers and Eastern Michigan University totalling more than $2,700.

The company also took a single bet on a game involving Monmouth University and the University of Pennsylvania, whose value was not disclosed.

The fine comes as New Jersey lawmakers are considering a bill that would set fines starting at $20,000 and ranging up to $100,000 for companies that take prohibited bets on New Jersey college teams.

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Gambling in the USA

Iowa House Passes Sports Betting Bill

Niji Narayan

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Iowa House Passes the Bill to Legalise Sports Betting
Photo Source: Bitcoinist.com
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The Iowa House has passed a bill for legalising betting on sporting events and fantasy sports. The bill has been sent the governor for consideration.

The Senate gave its approval and the bill now goes to Gov. Kim Reynolds who has said she will await the final version of the bill to decide whether she will sign it.

The bill authorises the Iowa Racing and Gaming Commission to establish rules for betting on professional, collegiate and international sporting events, including motor racing.

The bill also legalises fantasy sports contests and internet fantasy sports betting but delays betting based on college sporting event statistics until May 2020.

The commission regulates the 19 state-licensed casinos in Iowa. Once the rules are set up by the commission as early as this summer sports bets can be placed at casinos or on a mobile application they establish.

Sports betting would be limited to those 21 and older, and the bill sets a 6.75% tax on net receipts. Taxes and licensing fees could bring in estimated annual revenue of $2.3 million to $4 million annually.

 

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