NJ Online Gambling Operators Hamstrung by Credit Card Authorization Problems
The Financial Times on Thursday noted that New Jersey may not be living up to expectations where its burgeoning online gambling industry is concerned. The main obstacle: getting through the signup process, and that includes getting money on the respective websites.
From the Financial Times:
But operators are hamstrung by teething problems that include getting credit card companies to process deposits and the slow process of website registration.
Brian Mattingley, 888’s chief executive, said that while the operational issues at launch time have eased, they had not gone away.
“It's difficult to promote your business when having access to your operation is hard, not only in terms of accessing and logging on but getting payments authorised through credit cards,” he said.
“But it’s still only 10 weeks into the project and I am encouraged by the 28 per cent growth. The problems we have with software and dealing with the regulator are minimal. We will see a much more gradual build than a sudden massive lift.”
Ivor Jones, Numis analyst, told the Financial Times it’s still too early to call Internet gambling in New Jersey a failure.
“We would have preferred to see higher revenues but the potential remains for an acceleration later in the year as . . . problems are resolved. Marketing, too, has yet to get fully into its stride,” he said.
- Gilbert Horowitz, Gambling911.com
