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NJ Bill Would Require Online Gambling Processors to Get 'Stricter' License

Written by:

Associated Press

Published on:

May/20/2014

New NJ Bill Would Require Online Gambling Processors to Get Licensed

ATLANTIC CITY, New Jersey — (Associated Press) - New Jersey wants to subject companies that handle Internet gambling deposits and payments to stricter licensing requirements, in the hope it will make banks more willing to allow the use of credit cards to fund online betting accounts.

The reluctance of banks to allow credit card use to fund accounts is one of the main things holding back the growth of New Jersey's new Internet gambling industry.

Speaking Tuesday at the East Coast Gaming Congress in Atlantic City, state Senator James Whelan, a former Atlantic City mayor, said a bill introduced in February would require payment processors to obtain a casino industry service license.

State Gaming Enforcement director David Rebuck says they are currently required to get an ancillary license, which is less arduous to get.

- Wayne Parry, Associated Press

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