Since the bill was introduced into an unrelated port bill in 2006, there has been controversy over UIGEA. Nevertheless, the law does not define what “illegal gambling” really is, and it places the burden on financial institutions to block any illegal transactions related to gambling. For two years, several government agencies have been discussing the best way to implement it, resulting in in inaction days before President Bush left office.
At the last minute, President Bush ruled that financial firms must comply or violate the law, although by December 2009 they must have full compliance, some companies are already beginning to block transactions. This kind of last-minute ruling is referred to as the “midnight rule” and is actually the subject of criticism in the Capitol. Representative Jerrold Nadler of New York introduced HR 34, which requires a 90-day review period for all bills passed during the last 90 days of his presidency.
Unfortunately, the New Hampshire Lottery Board is blocking legal online lottery subscription sales, with major credit card companies already taking steps to comply. So far, this seems to be affecting people who want to use their credit or debit cards to buy subscriptions to two of the state’s most popular lottery games, Powerball and Tri-State Megabucks games. 온라인카지노
The problem started when Mastercard and Visa changed NH Lotto’s merchant code from “Government Service” to “Betting, Casino and Game”. This change was intended to comply with the new regulations. Needless to say, this issue naturally worries lottery executives about how this will affect their bottom line.
“This could lead to a significant loss of revenue,” executive director Rick Wisler said. “If credit cards are not allowed, they could reach $1 million a year or more.”
A Wisler spokesman said Mastercard and Visa would consider the concerns, but nothing has changed at this time. Asked by a reporter, Visa released a statement saying he could explain why this happened, but it did little to address concerns.
“Visa requires financial institutions around the world to identify gambling merchants (lots, casino game chips, off-track betting and racetrack betting) as gambling transactions when submitted through the Visa system for approval by the cardholder’s financial institution. These identification requirements allow our issuing financial institutions to block properly coded Internet gambling transactions if prohibited.”
For some prospective subscribers, the problem is with the fee. There have been many complaints from buyers who have successfully made the purchase but have been charged an additional fee by the bank for the purchase. We currently have no details on how many customers have been affected by banking fees or which banks are evaluating additional fees.