NJ to Improve Bankroll Processing

NJ to Improve Bankroll Processing

Tuesday, 6 January 2015

New Jersey poker players could be in for a smoother ride when it comes to making credit card deposits.

Following a press release by the state's Division of Gaming Enforcement (DGE), regulators explained that during New Jersey's first year of online gaming, 73% of Visa transactions were being approved. In comparison, only 45% of MasterCard transactions were being approved at NJ poker sites, prompting the legislators to implement some changes.

Although not yet in force, it's expected that a new credit card categorisation code will be released in the spring. This new classification should help improve the success rates for players using credit cards.

The main reason credit cards are being declined is the continued uncertainty among banks regarding the legality of online poker in the US. Although New Jersey, Nevada and Delaware have regulated the industry, the rest of the country hasn't and that's made banks wary of accepting transactions to and from igaming platforms.

To further improve transaction rates, the DGE is looking to enhance its fraud protection measures. Although companies such as the CAMS have claimed that "use the same technology as banks" in order to verify a player's location and identity, the DGE wants to improve things further.

Overall, it seems as though momentum is beginning to build within New Jersey. Although the financial returns haven't been as strong as some would have hoped, the player base within the state does seem to be increasing on a monthly basis.

Tags: New Jersey, regulation