It is a well known fact that New Jersey is the state with the most problematic gambling industry in the United States. After several casino closures, legalization bill discussions, auctions and disagreements between the bidders, the local regulated online gambling market had to put up with another lost. The payment operator TD Bank might stop providing its services because the authorities cast doubt on the legitimacy of such kind of payments.
A few days ago, a representative of the PartyPoker company notified the players that currently there is a tendency for deterioration in the number of players, who make deposits by using cards that have been issued by TD Bank.
At the beginning of the week, the spokesman of TD Bank made an official statement with the aim of informing the public that TD bank will no longer provide its services to online gambling websites.
Judith Schmidt also added that despite the fact that the online gambling activities in New Jersey are not regarded as illegal, such kind of transactions could cause a lot of troubles to the banking giant. Bearing all the advantages and disadvantages in mind, the authorities have come to the conclusion that the clients won’t be able to make online transactions towards gambling websites because the Canadian-based banking company is afraid of legal proceedings.
The curious thing here is that there are two states that have legalised the marijuana sales and the banks were reluctant to process transactions, made towards websites that sell drugs. What’s more, the bank representatives have publicly expressed their fears that if they continue with such kind of transactions, they will undoubtedly have to face the tough US laws.
This issue was considered to be the main reason for the bad start of the online gambling activities, once they had been legalized. Actually, most players were excited to know that PayPal might become available to the US citizens and they won’t have any difficulties in making payments towards online gambling platforms.
The latest events and actions of TD Bank are not regarded as something out of the ordinary though. A few bank representatives announced that they are concerned about the legality of such kind of payments. HSBC is currently considering to stop processing online gambling transactions.
Later on, the spokesman of the bank stated that for the time being the bank will not grind the payments to a halt but they will definitely be limited. Every attempt for making payments will be reviewed and treated accordingly.
The competitors of HSBC didn’t forget to remind that in the past, the company was accused of moving money that belong to criminals – a fact that made them wonder why now HSBC is so precautious when it comes to making payments to gambling websites.
