Lesniak criticises credit card companies for slowing New Jersey progress

Lesniak criticises credit card companies for slowing New Jersey progress

Wednesday, October 29, 2014 Totally Gaming

New Jersey State Senator Raymond Lesniak has criticised credit card companies for stalling the progress of the US state’s online gambling market.

The state opted to legalise online gambling in November of last year after estimating that a regulated market could help generate in excess of $1bn (€785.2m).  

However, just under a year after becoming legalised, operators have reported that the New Jersey online gaming market has not reached this initial target and has instead reported revenue of just over $100m.

Speaking via Skype at the Mobile and Tablet Gambling Summit USA, Lesniak cited the lack of support from major credit card companies as one of the main reasons behind the market’s slow progress. Many of the country’s major banks and financial institutions continue to refuse to process online gaming transactions due to uncertainty over the law surrounding such activity.

Lesniak said that if such organisations continue to oppose online gambling in the state, then the New Jersey market is unlikely to progress.

“Don’t expect stellar results until the major credit card companies come on board,” Lesniak said.

A number of other US states have discussed the possibility of legalised internet gaming activities but, so far, New Jersey along with Nevada and Delaware are the only three states to have opted to regulate online gambling.

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