Online Gambling Still A Risky Bet For Casinos, Banks

Law360, Chicago (September 18, 2015, 9:38 PM EDT) -- A confusing patchwork of state laws and unclear guidance from the federal government continues to make online gaming a dicey prospect for traditional casino operators, and often leaves credit card companies unwilling to process payments even in states where the practice is legal, gaming experts said Friday.

A U.S. Department of Justice memo in 2011 clarifying that online gaming, with the exception of sports-betting, is not prohibited by the Federal Wire Act opened the floodgates to states considering whether to legalize the activity.

At an ABA...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.