Nov 26, 2015

Latest Casino News

Casino Banking (185 articles)

No VAT for Bitcoin

The European Court of Justice has handed down the ruling that Bitcoin will be handled in the same way as traditional currencies with exemption from value added tax. The court found that Bitcoin transactions are no different than those involving any other currency. The case made its way to court per the reque...

Casino Banking Gambling Law & Society News

Paste and Pay Customer Complaint Issues

Recently there has been a number of complaints on the LCB forum from players having issues purchasing prepaid vouchers at Paste and Pay. The prepaid voucher system is a popular choice particularly for US based players...

Casino Banking

PayPal Re-enters US Online Gambling Market

Though not official, word is PayPal will be jumping back into the online gambling circuit as a banking method option for US. It has been 12 years since the giant processor pulled out of the US due to legalities of processing deposits at online Casinos, Poker and Sportsbooks. It is the result of enforced regulations and its merger with eBay in 2003. PayPal isn’...

Casino Banking

William Hill Rolls Out Prepaid MasterCard

Major gambling operator William Hill plc has introduced its Priority Access Card, which is a prepaid MasterCard that makes funds available immediately. This is exciting news as players using the prepaid card now bypass the standard withdrawal timeframe of 3 to 5 days. The withdrawal process is much faster as delays are eliminated by cutting out the middleman a...

Casino Banking

Mt. Gox CEO Arrested by Japanese Authorities

Bitcoin exchange Mt.Gox’s chief executive officer Mark Karpelès has been arrested again by Japanese authorities on embezzling charges to the tune of GBP 1.7 million in bitcoins from fallen company. He was previously arrested this year for the alleged fraud that led to the demise of the company, which also hurt the reputation of Bitcoin as a virtual currency....

Casino Banking Gambling Law & Society News

Optimal Payments to Propose Name Change

Payment services provider Optimal Payments Plc intends change its name to Paysafe Group plc and will present the proposal at an Extraordinary General Meeting scheduled for this month. The acceptance of the recommendation will see the company listed on the London Stock Exchange’s main market for listed securities. Entering London’s main stock market comes after...

Casino Banking Gambling Law & Society News

PayPal Acquires Modest Mobile Payment Service

Since its break from eBay, PayPal has announced its first acquisition in mobile payment start-up Modest. Modest users may make purchases using apps via buy buttons on merchant sites, much like Pinterest's Buyable Pins. "For consumers it will mean seamless, simpler and safer ways to buy the things they want, anywhere they discover them," Bill Ready of PayPal...

Casino Banking

Optimal Payments has Acquired FANS

Web based transactions provider Optimal Payments plc has acquired mobile platform developer FANS Entertainment Inc. for Cdn$16 million. The purchase price is payable to the vendors in 3,163,633 shares in one of the company’s subsidiaries. The shares may be redeemed on a one-for-one basis into shares of Optimal Payments over the course of three years. The F...

Casino Banking

Gamblit Gaming to Integrate Sightline’s Play+ Payment Solution

Gamblit Gaming has contracted with payment solutions provider Sightline Interactive to integrate Sightline’s Play+ payment solution into its gaming platform. "We're thrilled to be working with Sightline Interactive," said Eric Meyerhofer, chief executive officer of Gamblit Gaming. "I believe that digital payments will be an important part of driving floor liq...

Casino Banking

New Credit Card Online Gambling Transaction Codes for Legalized US States

US states Nevada, Delaware and New Jersey hope that changes implemented to credit card systems on Friday will boost online gambling profits. Difficulties with credit card processing for online gambling related transactions has affected the gambling industry in the US. Credit card issuers have been reluctant to approve online gambling transactions since the i...

Casino Banking

New Web-Casino Supporting Bitcoin, a new web-casino that has surfaced recently under Curacao license, reportedly supports transactions made in Bitcoins. The $670,000 project owned by DigitalSport Entertainment NV, was partially funded by CoinMatrix, a Bitcoin processor from Hong Kon...

Casino Banking Casino Games

Acquisition Plans for SafeCharge

Online gambling entrepreneur Teddy Sagi intends to make $100M+ in acquisitions this year via his latest venture, online payment service provider SafeCharge. According to Reuters, CEO David Avgi said the company has $125 million in cash and several opportunities to enter the European and Asian markets. "I believe we will look for companies similar to SafeC...

Casino Banking

PayPal Sanctioned for Allowing Illegal Payments

U.S. government ordered PayPal to pay $7.7 million in fines for allowing illegal payments to and from Iran, Cuba and Sudan, thus violating sanctions set against these countries. The money transferred during this period was allegedly used for production of weapons of mass destruction. One of the cases involved Kursad Zafer Cire, who was proclaimed by the US State...

Casino Banking Gambling Law & Society News

Optimal Payments Plc to buy Skrill Group for 1.1 Billion Euros by the end of 2015

Optimal Payments Plc, a global provider of online payment solutions, has entered an acquisition deal and is about to purchase Skrill Group for an enterprise value of about €1.1 billion. The Skrill Group is one of Europe’s leading digital payments businesses and until recently a Payments&r...

Casino Banking Gambling Law & Society News

eGold International Launches Bitcoin Processing Services

eGold International, a financial processing facilitator, has added bitcoin processing to its list of services. The company is recognized for its credit card and bank transfer currency processing services but eGold International is now the providers of secure bitcoin and fiat processing services via a secure online interface bringing with it 16 years of industr...

Casino Banking

Winklevoss Twins Support Bitcoin Industry

You may remember the Winklevoss brothers from their war with Mark Zuckerberg over Facebook. Well, Cameron and Tyler are back and on a crusade to fully support the virtual currency, Bitcoin. The value of the cyber currency fell by more than half in 2014 but the Winklevoss’ believe that its market capitalization may explode reaching $400 billion. "If Bitcoin...

Casino Banking General Gambling News

SafeCharge to Acquire CreditGuard for $8M

SafeCharge, an e-processing company owned by Israeli billionaire Teddy Sagi, continues to grow with the $8 million acquisition of payment processor CreditGuard expected to be finalized in January 2015. David Avgi, SafeCharge CEO, said, "CreditGuard is highly regarded within the payments industry, with a solid portfolio of clients across multiple market sector...

Casino Banking

Skrill Extends Paysafecard with Ukash

Last week Skrill, formerly known as Moneybookers, announced that it has signed an acquisition deal with the UK pre-paid cash voucher provider Ukash. The financial terms of the acquisition are not being disclosed. The deal is intended to add scale and reach to Skrill Group’s rapidly gr...

Casino Banking

ICC-Call Under Investigation

ICC-Call, an Israeli online payment processor, is under investigation following allegations of fraudulent receiving under aggravated circumstances, issuing false corporate reports, money laundering and accepting bribes. This includes allegations that it has illegally handled online financial transactions for international internet gambling companies, such as porn...

Casino Banking Gambling Law & Society News

Virtual Currencies Debated in Spain

The Spanish Treasury has said that operators offering cybercurrency services, such as Bitcoin, are still classified as online gambling operators and must obtain a gaming license. Law firm, Abanlex, sought the opinion of the Treasury regarding Bitcoin as a legal form of currency and whether online gambling operators using it should be subject to national gam...

Casino Banking Gambling Law & Society News

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