Current State of US Online Gambling Processing Explained
Darren Rovell of CNBC addressed the issue of collecting winnings from online casinos this week, getting the details on why payments are taking so much longer than before from Alwyn Morris, CEO of Morris Mohawk Gaming Group, which, among other connections, has purchased the North American license for Bodog.
Players have noted that since the passage of the UIGEA, the collecting process has gone from happening in a matter of hours to taking weeks. Internet gambling sites continue to make good on dents, but the process becomes longer and more intricate.
Morris stated that the expected wait for winnings is currently 40 days. Both regulatory difficulties and the need to find new payment sources were cited as causes for increased delays.
As banks and payment services have been intimidated by the U.S. government into declining the business of online casinos, new processors step up, but the systems have to be fitted to the new method.
Morris emphasized every customer gets paid, and there are no problems for the casinos as far as solvency. He said that checks are written within 24 hours of demand, and that "the period between Morris Mohawk Gaming Group processing these payouts and the funds or check being received is simply a function of the payment processor limitations. Morris Mohawk Gaming Group conducts continuous reviews of its current providers to optimize payout times, as well as reviews new options as they become available."
Rovell asked Morris about the recent purchase of the Bodog license, and while Morris gave a circulatory answer involving evolving circumstances, it is clear that his group feels that the U.S. market may become more readily available in the near future. At that point, the ridiculous irritations and delays of the payment process should almost completely disappear.
