Seeking Alpha

Payments firms deal online casinos a lousy hand

  • Payments companies are ruining the online poker party in its infancy as major players such as PayPal (EBAY), American Express, and Bank of America have decided not to process transactions.
  • Mastercard (MA +1.1%) and Visa (V +1.1%) are allowing the transaction in states where online gambling is legal, but card issuers have the final say.
  • Related stocks: CZR, BYD, MGM, EIHDF, WYNN, IGT,
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Comments (3)
  • stoj
    , contributor
    Comments (473) | Send Message
     
    just as well, poker should be a social game, with IRL colleagues and friends
    15 Nov 2013, 06:45 PM Reply Like
  • User 18352672
    , contributor
    Comment (1) | Send Message
     
    http://bit.ly/17azfNV

     

    Its because internet gambling is against Federal law, and enforcement of the law is the responsibility of banks and credit card companies.
    16 Nov 2013, 09:12 AM Reply Like
  • marti21866
    , contributor
    Comments (11) | Send Message
     
    It's just a matter of time before these banks will be fighting for the online gambling business. People want it and it's not going away.
    17 Nov 2013, 12:26 PM Reply Like
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