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Gambling in the USA

JPMorgan Chase & Co takes initiative to approve online pari-mutuel credit card wagering

Niji Narayan

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America’s horseracing industry predicted a banner year ahead following the green light shown by the nation’s leading financial institution on online betting with its credit cards.

The National Thoroughbred Racing Association (NTRA) On Tuesday, promulgated that  JPMorgan Chase & Co had initiated the approval of credit card transactions with US-licensed advance deposit wagering (ADW) sites, or online race betting.

With JPMorgan Chase & Co,  being the nation’s largest credit card issuer, having over 80m active credit cardholder accounts across the country, the initiative to approve transactions stamped with the ADW industry’s 7802 merchant category code could bring on board other major card issuers approving similar measures, which would vitally boost up the online pari-mutuel betting handle.

The NTRA CEO, Alex Waldrop hailed Tuesday’s announcement as “a major victory for our industry” and singled out the lobbying efforts of Rep. Andy Barr (R-KY), who serves as Co-Chairman of the Congressional Horse Caucus and (more importantly) serves on the House of Representatives’ Financial Services Committee.

While ADW operators like the Stronach Group’s XPressbet, Betfair’s TVG and Churchill Downs Inc’s TwinSpires will welcome Tuesday’s announcement, the news is yet another example of the exceptionalism the pari-mutuel industry enjoys when it comes to interstate online gambling in the US.

Some banks like JPMorgan Chase began blocking transactions with ADW sites in the wake of the 2006 passage of the Unlawful Internet Gambling Enforcement Act (UIGEA), which prohibited financial institutions from processing payments on behalf of online gambling comments.

Racing lobbyists ensured that the pari-mutuel industry got a carveout from the UIGEA but the legislation was broad enough that many financial institutions chose to block ADW sites out of an abundance of caution.

This is the second major boost the US pari-mutuel betting industry has received in the past six months. Last September, the US Treasury Department and the Internal Revenue Service approved new rules on how punters’ winnings are taxed, which the NTRA’s Waldrop called “among the most meaningful regulatory advances made by our industry in decades.”

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

Gaming Arts All Set for OIGA Conference and Trade Show 2019

Niji Narayan

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Gaming Arts All Set for OIGA Conference and Trade Show 2019
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Gaming Arts LLC is going to present its innovative Class III video reels and SuperPROMO™ at the OIGA Conference and Trade Show (OIGA), in association with Gaming Capital Group.

“OIGA presents a significant opportunity to support Oklahoma’s tribal gaming enterprises. We are thrilled to present our unique and innovative line up of video reels and casino marketing promotional tools to our tribal partners,” Mike Dreitzer, President of Gaming Arts said.

Gaming Arts will display its inaugural collection of Class III slots including the Pop’N Pays®, Da Fa Ba™, and Dice Seeker™ series of games, all of which will showcase the Rocket Rollup™ mystery progressive. The Pop’N Pays series of games, namely Piñatas Olé® and Big Top™, are the first to emerge from the Gaming Arts library with more than 80 cabinet placements in the United States and growing.

SuperPROMO™, the world’s first casino-wide interactive promotional game system, will demonstrate a new method of casino promotion through four fully customisable mobile games that can be presented to players for virtually any type of promotion.

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Gambling in the USA

NetEnt games live in Pennsylvania, USA

George Miller

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NetEnt games live in Pennsylvania, USA
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As expected, the new regulated online gambling market in Pennsylvania has opened. After successful integrations, NetEnt’s games are now live in the US state.  

 

In March this year, NetEnt, through its subsidiary NetEnt Americas LLC, was granted an Interactive Gaming Manufacturer Conditional License by the Pennsylvania Gaming Control Board (PGCB).

Pennsylvania is the second large US state to regulate online casino and with almost 13 million people, it is the fifth largest state by population. The state has a long tradition of gambling on the land-based side. As previously communicated, NetEnt has signed customer agreements with several gambling operators in the state and has been preparing to launch its games as the market opens.

“I am very pleased that the market in Pennsylvania has now opened. We are one of the few online casino suppliers offering our games right from the start, and I am convinced that our award-winning online casino games will be much appreciated by players in Pennsylvania,” says Erik Nyman, Managing Director NetEnt Americas LLC.

 

About NetEnt:

NetEnt Americas LLC is a US subsidiary of NetEnt AB (publ), a leading digital entertainment company, providing premium gaming solutions to the world’s most successful online casino operators. Since its inception in 1996, NetEnt has been a true pioneer in driving the market with thrilling games powered by a cutting-edge platform. NetEnt is committed to helping customers stay ahead of the competition, is listed on NASDAQ Stockholm (NET–B) and employs 900 people in Malta, Stockholm, Kiev, Krakow, Gothenburg, Gibraltar and New Jersey. www.netent.com

 

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Bitcoin

Americas Cardroom Will Send $1 Million via Bitcoin to $5 Million Venom Winner

George Miller

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Americas Cardroom Will Send $1 Million via Bitcoin to $5 Million Venom Winner
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Americas Cardroom announced that they will send what they believe to be the largest crypto payment in history for an online gaming site. With the $5 Million Venom tourney on it’s way since July 14th, the US-facing online poker site is promising to send the winner their $1 millionpayment by Bitcoin, minutes after the final hand.

“We’ve made cryptocurrency a key part of our business for the last four years and now we’re going to make a seven-figure payment,” stated Americas Cardroom spokesperson Michael Harris. “No other payment method lets players get paid faster and we’re putting our faith in Bitcoin with this large-scale transaction.”

The $5 Million Venom has three Day 1’s and the final table will be played on Wednesday, July 24th. It features a staggering $5 Million guaranteed prize pool and first place gets at least $1 million, making it the biggest tourney in ACR history and the biggest ever by a US-facing site.

The $5 Million Venom winner will receive their $1 Million via Bitcoin mere minutes after the final hand is played — all in one shot. No other gaming site has sent a crypto payout so large, and Americas Cardroom is pleased to make history.

The US-facing site first began accepting Bitcoin in 2015. At the time, the popular cryptocurrency accounted for approximately 2% of all business. Today, players can play and get paid in over 60 different cryptos, including Bitcoin. Cryptocurrency now accounts for over 60% of Americas Cardroom’s business.

While the 60% is large, the number comes as no surprise. Online gaming sites have faced challenges with payment processing due to varying regulations around the world. Cryptocurrency offers players the chance to deposit and withdraw quickly and securely and is quickly becoming the preferred player option.

For more information on the $5 Million Venom and Cryptocurrency deposits, visit AmericasCardroom.eu.

 

About Americas Cardroom:
Americas Cardroom joined the Winning Poker Network in 2011. The Winning Poker Network has one of the longest and trusted online names in the industry and has been in existence since 2001. Americas Cardroom accepts players from the US market and the rest of the world. Rated first place for payment processing and cashout reliability repeatedly over the last few years, Americas Cardroom offers outstanding customer service and a friendly environment for all poker players around the world.

 

Source: Americas Cardroom

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