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International Internet Gambling Gets Sticky

At this point it is no secret in the internet gambling industry that the United States does not want U.S. citizens gambling at online casino sites. And though it is a bone of contention with many other nations and organizations like Antigua and the World Trade Organisations, most countries are respecting the ruling at this point and avoiding the approval of online casino transactions through U.S. banks. But it looks like Israel’s Visa CAL credit card company is still outright gaining revenue from U.S. citizens making online casino and pornography transactions.

Precisely why the credit card company is still accepting the transactions is unclear considering other credit card companies in Israel like Leumi Card and Isracard have specifically chosen to respect the ethical implications involved in the U.S.’s decision to stop bank transactions with online casino companies.

According to Visa CAL financial reports for 2006 it seems that the internet gambling company brought in roughly $9.5 million in revenue from business with U.S. online casino gamblers.

But now that U.S. citizens are having a harder time finding companies that are willing to process U.S. based payments, CAL visit is expecting a significant increase in revenue – to the tune of $23 million for 2007.

A spokesperson for the CAL Visa only had this comment on the fact that they are clearing foreign transactions, including U.S. transactions, “Without referring to figures, a substantial part of all clearing fees are paid to foreign issuers of the card and to international organizations such as Visa and MasterCard. These are foreign transactions conducted in a wide variety of sectors, some of which are even traded on international stock exchanges, that are unrelated to Israel and have been approved by banks worldwide.”