All three saw changes approved in the recent November 3 rd referendums.

The most recent are South Dakota, Maryland, and parts of Louisiana. Some 25 states and the District of Columbia have authorized sports wagering – either online, in-person, or a combination of both. There is no ignoring the giant strides that legal sports betting has made since May 2018. Some smaller banks are looking for opportunities to move money safely and have even started to target the online gambling population that some heavyweight banks are reticent to service. Thanks to the American Gaming Association’s efforts to mediate between sports betting operators and financial institutions, progress is being made. Many banks continue to block online gambling transactions out of fear federal authorities will punish them for inadvertently facilitating financial crimes.īut with global sports betting on the rise and no sign of federal sports betting legislation passing any time soon, the question is how long will it take for these banks to allow online gambling transactions and grabbing part of the lucrative market. Despite more than half of US states legalizing sports betting, some US banks and credit card issuers are still not on board. It’s been over two years since the Supreme Court’s landmark ruling paved the way for states to determine their sports betting destiny.

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