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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

Expectations on Online Gambling in the US

Niji Narayan

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Photo source: rightcasino.com
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The U.S. casinos have already entered into the list of the burning issues of the United States. Nevada is a national gambling symbol in the US, while some of the states impose strict restrictions even on the online casinos. The recent tendencies in the American online gambling market look quite promising.

Around 90% of the American gamblers easily switched from a traditional casino to the online platforms introducing the same services. At the same time, 85% of the US gambling niche income is generated by its online segment. On average, the industry of sports betting reaches the exorbitant figures – $400 billion a year.

It is obvious that the US cannot impose a strict federal ban on online gambling. The only obstacles may exist on the state level, where the situation is quite paradoxical. Depending on the state, the national operators have to satisfy a long list of the legal requirements to get a proper license.

It seems that the endless war between the operators and the state laws is getting tense: many of the gambling icons keep pushing the respective bills about partly legalisation of online casinos.

The milestone to block the decision-making process on a state level is taxation rates for the online casino operators. Some of the fees make it clear that the government would like to benefit from the business as much as the actual providers.

Despite a few legal opportunities, the online gambling niche in the US is blossoming. This business will soon reach its peak and will demand some more room for expanding its influence and audience.

In the nearest future, we can expect some further improvements. There is nothing to hold the industry from further development. Recognising the providers’ needs will resolve lots of issues related to illegal gambling. This should be a minimum benefit the federals cannot resist.

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Gambling in the USA

DOJ Appeals the District Court Decision on Wire Act Case

Niji Narayan

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Photo source: nodepositkings.com
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The Department of Justice has filed its intent to appeal a district court decision on the Wire Act to the First Circuit Court of Appeals.

In June, a federal judge in the New Hampshire District ruled that the Wire Act applies only to sports betting and not to other forms of interstate gaming.

The New Hampshire Lottery and its vendor had filed the federal case because of the DOJ’s change in stance on the interpretation of the Wire Act.

The DOJ in 2011 had stated that the Wire Act applied only to sports wagering. But it reversed the course with a memo from 2018, expanding the possible reach for federal prosecution which triggered worries about its applicability to online gambling, lotteries and other forms of gaming that potentially cross state lines.

The New Hampshire District judge had forecast that the case would likely reach the US Supreme Court. While the case is going on, the DOJ has said it would not enforce the new interpretation of the Wire Act until 2020.

“The Department’s action, while hardly unexpected, is certainly unwarranted. DOJ generally files appeals of adverse district court decisions as a matter of course. We hope that, rather than engaging in a protracted, expensive and ultimately unsuccessful legal fight, the Department will take this opportunity to negotiate a settlement which will focus the Wire Act and DOJ’s enforcement resources on the right targets – the unlicensed illegal offshore Internet gambling operators who do not create jobs or tax revenue in the U.S. and do not appropriately protect consumers,” Jeff Ifrah, founder of iDEA Growth (an online gambling lobbying group) said.

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Gambling in the USA

NFL Issues Prohibitions on Sports Betting

Niji Narayan

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Photo source: onlinegambling.com
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NFL has issued strict prohibitions on sports betting. In an email sent to NFL employees, vendors and contractors, the league made it clear that gambling on sports could lead to losing one’s job.

NFL’s communication said, in part:

“Gambling, particularly betting on NFL games or other sports, presents risks to the integrity of our competition and team cohesion, and can undermine the confidence and trust of our fans and colleagues in America’s greatest game. We therefore owe it to our fans and everyone associated with the League to take all appropriate steps to safeguard our game against possible threats from illegal gambling as well as gambling in a legal, regulated context.”

The memo spelled out forbidden activities and practices in detail. Prohibitions include:

Gambling at offshore sites or in states without legal sports betting

Gambling in any form on NFL games

Offering inside info or tips on a team or game

Setting foot in a sportsbook during the season

Betting in any form on anything in any NFL facility

Promoting any kind of gambling entity

Owning any part of a casino or sports betting operation

These restrictions are applied to owners, players and various vendors and contractors. Players are also implored to always give a “best effort” in any game to avoid the appearance of impropriety.

Non-sports wagering is allowed so long as employees do not physically enter a sportsbook to place the bet. Online or third-party wagers are allowed if done through state-approved operations. The league has made an exception for fantasy leagues with prizes under $250. Daily fantasy sports remain a violation of league policy.

The process of review and potential punishment for the rule violations lay at the feet of Commissioner Roger Goodell, who, according to the memo will make assessments on a case-by-case basis.

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