Ivobank Answers Needs of Online Casino Industry
Many banks and payment services have been terrorized and intimidated into abandoning the online casino market by the UIGEA. American patrons have been forced to accept delays lasting weeks to receive winnings. Now, a new bank has opened specifically to handle online gambling payments.
Ivobank promises safe, secure, and speedy delivery regarding transactions between online gaming operators and their customers. The bank is regulated and licensed by the Financial Services Authority.
The Sampoerna family of Indonesia is the guiding force behind the bank. The Sampoernas made their fortune distributing tobacco through the largest cigarette company in Indonesia. The family also has a history experimenting in the online gambling industry, and bank spokesmen assert the bank was created with gamblers in mind.
Ivobank will also handle money transfers and issue virtual debit cards, allowing the use of funds online without providing a credit card number, or giving personal information to vendors.
Ivobank promises to relieve the high costs and long waits currently occurring in relationships between online casinos and their financial institutions. So, despite U.S. efforts to force banks out of the online gambling industry, the opportunities and profits available have caused the rise of a new, credible source for banking.
Recent Comments
| Posted by: Rob | When: 07/30/2008 08:29:57 AM EST |
| This article suggests (even if unintentionally) that Ivobank will go some way to resolving US online gaming banking problems. As far as I can tell Ivobank is in no way going to touch US customers though. No legitimate bank would, certainly not one regulated by the FSA. This should have been researched better... | |
