• Mastercard Lobbied for Online Gambling

    10 January 2011

    Newspaper

    Mastercard and all the other major credit card companies have done their job when the UIGEA was passed and the regulations were put in place to regulate the new law. This doesn’t mean necessarily that this was a popular bill with the credit card companies however.

    As a matter of fact both Visa and Mastercard support online gambling. Why wouldn’t they, it would mean millions of dollars in revenue in their pockets. According to the third quarter report from Mastercard, they spent $840,000 in the third quarter to lobby our federal government. That money was spread across several issues including regulation of consumer financial products, interchange fees, online payments and Internet gambling.

    How important is online gambling to Mastercard? That is hard to say but the $840,000 was around a 24% increase over third quarter lobbying in 2009. Then again it was a far cry from the $2.33 million it spent on lobbying during the financial overhaul bill debates in Congress.

    That money spent obviously had no effect on getting a law changed for the foreseeable future but it did get some important legislators to join the fight for regulating online gambling. This does however pose an interesting dilemma for the current states like California, New Jersey and Florida who are in different stages of looking at online gambling intrastate.

    If these bills being considered go through and become law, the federal government would then have to determine if Matercard and the other credit card companies would still be violating the UIGEA within those states. Even though the federal government wouldn’t take action, the states it seems are putting themselves in position to force the issue on online gambling.

    Related News

    • 30 December 2018

      Gambling Taxes in Italy See Big Jump, Playtech's Earnings Fall

      The taxes that gambling operators and software companies have to pay in a given jurisdiction are one of its biggest expenses. This means that even a relatively small shift in those rates can cause some major changes in what can be expected for business. This has recently been the case in Italy where their Senate has been working on a proposed budget for the following fiscal year, and this budget includes some unexpected increases to the taxes on gambling businesses.

      Read full article
    • 23 December 2018

      Spanish License Application in for Gaming Innovation Group

      Gaming Innovation Group has announced their application for a license to operate in Spain. They're looking to make an entrance into the Spanish market in 2019 with this application, and there's very little doubt that it will be granted. This is a pretty significant move for the company as they expand and get their offering in front of new players. About the Spanish Market

      Read full article
    • 23 December 2018

      Cherry AB Receives Eight Licenses for Swedish Online Gambling

      The Swedish Gambling Authority has been processing applications over the past several weeks for its upcoming regulated market that starts on January 1, 2019. This is a pretty big deal for online gambling in Europe as a whole, and Cherry AB has put themselves into a strong position with eight difference licenses being granted for operating brands within Sweden's borders in the new year as a part of this newly regulated jurisdiction. Size of the Swedish Market

      Read full article