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Online Casinos Lose Royalty
Life is not easy for online casinos operators.
Just when they thought the major headache of online gambling prohibition
in the United States was close to being lifted, they get very bad news
from one of the biggest banks in the world.
The Royal Bank of Scotland has declared that it
will no longer accept transactions from online casinos and online
gambling sites. The bank has officially cut off its services to the
gaming industry.
The Royal Bank of Scotland has not refused all
services to online casino operators in that online casinos may still
maintain accounts with the bank, but the bank will no longer process
transactions from online gambling activity. Although some online
gambling companies may chose to use two separate banks, most will
probably change banks altogether.
The decision to stop processing payments from
online casinos comes after pressure from the Swiss government to do just
that. The Royal Bank of Scotland has also recently merged with a major
banking group in the Netherlands, ABN AMRO.
“What is seems like from the outside is that this
was a decision that was made to both please the Swiss government, and to
satisfy the demands of the merger,” said industry observer Keith Frans.
“At the end of the day, what the Swiss and Dutch
governments are doing is trying to protect their gambling monopolies.
I'm not sure these type of actions are going to work under European
Union agreements.”
The Dutch have made strong efforts to stop the
progress of online casinos and this is just the latest event in a series
of similar activities.
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