"The biggest challenge of Internet gambling in the U.S. is that this is an industry still looked at as having been born out of sin," said Gil White, whose law firm represents 888 Holdings. "The new world of Internet gambling is clearly regulated and regulatable."
When online gambling began in 2013, many customers had a hard time making deposits to fund their accounts because banks refused to authorize the transactions. That has improved somewhat with new transaction codes adopted by Visa last month to narrowly recognize Internet gambling transactions from state-regulated, approved sites. That has raised Visa acceptance rates for Internet gambling from the 18 to 22 percent when it first started to about 50 percent now, said Joe Pappano, senior vice president of Vantiv Gaming Solutions, which handles electronic transfers for New Jersey online gambling sites.
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