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Banking Affects Online Casino Sites

The state monopolies in Switzerland and the Netherlands have scored another point this month with the announcement that the Royal Bank of Scotland (RBS) would no longer process internet gaming transactions between these two countries and any of the major gaming sites that use the RBS for business. The new policy changes were previously reported on GambleCraft –the impact to the online casinos though could be larger than initial thought. There is really no way to tell how many internet gambling sites were affected by the announcement but it is likely a pretty large number considering the fact that more than 80 internet gambling sites are operated out of the licensing jurisdiction of Alderney and could have been using the RBS for banking transactions.

For clarification purposes, the RBS is not halting all online casino gambling transactions – just those in Switzerland and the Netherlands. Both of these countries operate controversial gaming monopolies in the state and have specific legislation in place legalizing only state lottery and sports betting activities. The RBS new policy is in an attempt to respect individual state gaming laws and prevent future liability should either of the state governments attempt to purse the illegal gambling cases in the courts.

Banking agreements between the online casinos and the chosen banks are closed agreements and therefore there is really no possible way to find out how many gambling sites were affected –but many of the sites licensed in Alderney were likely using the RBS and are therefore either forced to begin blocking gambling from these two markets, or they will have to find a new banking institution to process their online gambling transactions.