In order to decrease online gaming, many US credit card companies have banned the usage of their cards on gaming sites. But is it having the desired effect?
Internet gambling sites are predominantly run from countries like Australia, England or some tropical island, yet the majority of their customers are residents in the USA, where whilst gambling online is illegal, there is no clear-cut legislation setting this out.
In order to put a stop to the never-ending love affair with online gambling that is estimated to lose American citizens roughly $3 billion, anti-gambling law-makers such as Senator. Jon Kyl(R-Ariz) and Rep. Bob Goodlatte (R-Va) have repeatedly introduced bill to outlaw internet gambling, but to no avail.
Soon after, a bright spark came up with the idea to ban the usage of credit cards, but once this bill was stopped in its tracks, credit card companies took the initiative to disallow usage of their credit cards on the Internet.
This could be considered as good news, but instead of having the desired effect of decreasing the amount of online gambling, gamblers have begun signing up to credit cards who have high interest rates, but don’t mind usage on gambling sites.